ES Journal Archive (2006 - 2008)

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Quote from Jahajee:

FWIW: Briefing.com's tech view:




As noted in The Technical Take the S&P needed to take out 913 in order to neutralize the pattern off yesterday's high. It hit 910 off the open and has recently dropped to a new low of 903 in recent trade. A minor support is at 898 with a secondary barrier at 895. The more important floor is at 885/884.
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913 -914 is the right shoulder in the works if they can make it.

http://finance.yahoo.com/q/bc?s=^GSPC&t=5d
 
Quote from Jahajee:

FWIW: Briefing.com's tech view:




As noted in The Technical Take the S&P needed to take out 913 in order to neutralize the pattern off yesterday's high. It hit 910 off the open and has recently dropped to a new low of 903 in recent trade. A minor support is at 898 with a secondary barrier at 895. The more important floor is at 885/884.
More...

898 is a 13% fib pivot and 895/6 is 21% pivot. To keep a minor daily up trend intact They are both considered very bullish if held on a pull-back.:)
 
With exp playing a big factor this week, it seems unlikely the markets will now move very far from 900. But there is a possibility of another test of the 850 area. If it hapens next week on low volume it could be a decent buy for a leg up.
 

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daily supp line since fri,or last 4 days,comes in at 904-905,they are battling at that #, res lin5/15 to 12/15 is around 1295 for today ,we broke above tuesday and have been massaging it as support
 
The test of opening range top 909 is very very odd.

We are talking about 300K+ contracts changed hand right there at 908-909.

Since opening range top is tested and failed (sort of), let's see if 898 is next.
 
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