ES Journal Archive (2009 - 2010)

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Quote from Lawrence Chan:

Ok ... S1 tagged.

Gap fill below finally, or, (not so surprise) rally by 14:15.

Edit: should be 15:15
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possible H&S pattern 240min...left shoulder 1007.75, head 1016.00, right shoulder 1007.75. Target 983.50.

"Only" one obstacle :

Citigroup economist Steven Wieting said Monday he had raised his outlook for S&P 500 operating earnings to $60 a share this year, from a previous outlook of $56, citing "the turn in both financial conditions and cyclical activity indicators." Wieting also lifted his forecasting team's 2010 outlook to $68 from $62 a share.
 
Quote from ASusilovic:

"Only" one obstacle :

Citigroup economist Steven Wieting said Monday he had raised his outlook for S&P 500 operating earnings to $60 a share this year, from a previous outlook of $56, citing "the turn in both financial conditions and cyclical activity indicators." Wieting also lifted his forecasting team's 2010 outlook to $68 from $62 a share.
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The way the market is acting today:

(i) SPX looks like it is holding support, and (as LC mentioned) it looks like an extraordinary amount of buying is taking place in the index.

(ii) COMPQ has dropped into a short downtrend (as was mentioned also) but it isn't going anywhere - except back up.

I'm thinking its going to make a run at the 1020/1040 area. Insanely good call on B1S2's part, over 100 pts per lot and holding.
 
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