ES Journal Archive (2006 - 2008)

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Quote from saliva:

Today's real support lies at 850-852. If we break that, we can see 835-ish as LOD.
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Bulls cannot let 52 happen if they want a rally from here ... that breaks the higher low swings that took them a very hard time to build up.
 
But, LC,
if last 3 trade days of year are usually directional (your observation if I remember correctly), then 852 has to break, doesn't it?
or do you think the bulls will stampede to reverse today's action (I don't).
 
Quote from vertigo3:

But, LC,
if last 3 trade days of year are usually directional (your observation if I remember correctly), then 852 has to break, doesn't it?
or do you think the bulls will stampede to reverse today's action (I don't).
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Have to explain what I meant directional.

If 3rd last day is up (open to close), then you would likely see the 2nd last day and the final trading day of the year are up too. And vice versa for 3rd last day as a down day.

Today, if ignoring all other factors, that it is not over yet, we do not know if we are going to end up with an up day or not. :)

BUT, this morning we did have trend sell quality all over the place ... Opening range tested previous day high and failed, then down side breakout, failed to hold S1, etc. So yes, 52 should break and we are likely getting 3 down days in a row. :)

p.s. I am short since open thus very very bias :D

Edit: I do not usually trade during the last few days of the year, but this morning the setup was too good to say pass.
 
856/858 strong support/resistance zone

if broken I expect 840 as target


860/865 strong support/resistance, then 874


I think it goes down to near 800 by end of year then a brief January rally then back to test the lows...
 
Where's Pekelo?

Could today be a slightly off schedule SDD with lift (fast, one way) near the end of the day?

If so, and PA is about an hour ahead of itself, would the 3:30 shot at a reversal to move up occur 2:30?

Was talking to a friend he made this observation:

down day with 3:30 reversals occurred Monday Dec 22, Thurs Dec 18, Mon Dec 15,

Today is a Monday.
 
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