ES Journal Archive (2009 - 2010)

[volente_00]

Quote from volente_00:

To hold the pattern, the next higher low should come in around 1045-46 on cash.

spy magnet at 105



I'd venture to say that the best bears will get is around 1030-1035. Options are so lopsided right now with very little call interest open on spy until 110+ and puts are swelling at 108 and 110.


The spring can only stretch so far before the cleansing of the shorts commences.




Notice the volume on the declines versus the rise.

 

[BoyPlunger]

volente may be right for feb expiry purposes but I would look to the large July gaps as support magnets for 1st targets of this IMO major down move. The date was July 14, and if I remember right, INTC earnings catalyzed the upmove. Those gaps are:
ES 910
YM 8400
NQ 1460

Tomorrow has the potential to be ugly.

 

[Pholeuon]

200 EMA on ES is around1020 and there is magic 1000.
Magnetism of 200 EMA is that big that it simple "must" be tested.
If we will go through without major bounce through it than like I wrote that gap in low 900 is natural target.


Not speaking about never tested 666. But may be simple the fall was that big that retest was 1 year in future?

But simple everybody saw during last months that not looking at pushing it want go up. Simple some pullback was necessary, however how low we will go?

As minimum ES is daytradeable again. During last months I was not able to do it.

BTW. measured move for USD/EUR suggest pullback somewhere in 1.3620 region - there is S1 on daily as well. May be we are finished with falling for some time.

 

[damo484]

10 000 done and dusted. I think it's down from here.:eek:

 

[gobar]

if it fails 1048.00 then down we go but looking at hr chart looks like Megaphone bottom (bullish) if we rally from here..

 

[jorgez]

Quote from hermit:

Market Profile Principle

Well done hermit.

As I read it, 69 was the upper limit of a shelf 69-65 created through the middle of the day.
Additionally there was an important level at 63 (which you spotted) brought forward from the daily ranges going back to sept '09

 

[ammo]

Quote from gobar:

if it fails 1048.00 then down we go but looking at hr chart looks like Megaphone bottom (bullish) if we rally from here..

beginning of that megaphone is 22 points, a break of 1047 could bring you to 25, posted a 3 step on sunday nite with a support at 1015

 

[wave]

Guess where all the buyers of that whole drop are holding to?

Oh look at all those trend trader stops get taken out.

 

[ammo]

hope your right wave

 

[wave]

Quote from ammo:

hope your right wave

I know nothing ammo. I have conviction in the system and the stats. On top of that, my risk is controlled. Eliminate fear via risk control and believe in the stats.

It took years of observing to see it though.