ES Journal Archive (2006 - 2008)

[Pekelo]

Just a shortable high. It is seasonal...

 

[startraitor]

exit 81, not holding into numbers.

Quote from startraitor:

Have an upside price projection of 888, if you can believe it. Grabbing a long at 72 with a stop under 67, minimum target is 81, will evaluate there.

 

[ammo]

thought u were nuts when u put that trade on,nice

 

[Lawrence Chan]

Quote from Jahajee:

Yes.
And, the low most likely made in Jan/Feb

You expect we sell off from here (or a bit higher) then?

My take -

For the record, the diamond formation on ES and SPX daily is now completed. It spans over more than 2 months, pointing to continuation. Meaning very sharp sell off from this level (likely) upto 910 area (less likely).

The drop will last about a month (1/2 the diamond duration) to 2.

p.s. That is also the reason why I care about the uptrend line on daily so much ... it has to hold to break out of the diamond formation, which in turn break the daily down trend.

 

[startraitor]

trying one more long here at 79, stop under 76, target 88.

thanks ammo, I have been called much worse and nuts is not all that unfitting.

 

[trackstar]

Quote from ammo:

thought u were nuts when u put that trade on,nice

Did you not notice the large buying on each dip. Huge volume everytime price bars had a strong close. I saw that coming from a mile away and needless to stay star still got a better price than i did

 

[Lawrence Chan]

First target for a diamond continuation is usually the swing low from the up trend line that got broken ...

So we may see 825 as soon as today or tomorrow.

The fed result from this afternoon can break us out of this down trend if 910 is taken out decisively.

 

[ammo]

Quote from trackstar:

Did you not notice the large buying on each dip. Huge volume everytime price bars had a strong close. I saw that coming from a mile away and needless to stay star still got a better price than i did

what timeframe are u using for noticing your volu spikes

 

[trackstar]

Quote from ammo:

what timeframe are u using for noticing your volu spikes

10min chart. In fact thats the only time chart I use and its only for measuring volume and where it comes in. Everything else is an actual volume chart.

 

[ammo]

thnx