ES Journal Archive (2009 - 2010)

Now is Now · May 28, 2009

Quote from Now is Now:

SELLING 905.00 stp if 908.00 not done...carry S/L through to 911.00 on both

OUT...holding one short for 896.25 stp stays 911.00

Lawrence Chan · May 28, 2009

Rising wedge trendline here.

If not holding up, 900 next.

Otherwise, a test of 910 in order.

Even after a test of 910, it will still be bearish and 900 will still be in play.

Now is Now · May 28, 2009

I personally think thismarket has improved on sub prime money...it ain't there

pocketmoney · May 28, 2009

i think we're going down to 898.
small short here at 906.5

edit - stop at 909

saliva · May 28, 2009

In the old days, this would be a perfect setup for short. How things have changed.

trackstar · May 28, 2009

out of all at 907

saliva · May 28, 2009

Short 907

SL above 910

Target 897

Lawrence Chan · May 28, 2009

Sal,

You should have some confidence in my sell zone =)

And the timing too. =P

lurefo · May 28, 2009

Quote from trackstar:

Just looks like a large consolidation triangle to me. I doubt it will resolve by tomorrow. MAYBE I can see a move to 940 by the end of next week. We have 2 reversal areas left for the bears, one is now, 908, the other is under 920.

Exactly, this looks like consolidation in an uptrend. The odds are that we break to the upside and to me so far, price action is confirming this scenario.

Also, NQ looks even more bullish than ES.

904 is a key area in this battle.

Spectre2007 · May 28, 2009

the price action itself can be engineered to dress up a pig.....

buts its still a pig.