ES Journal Archive (2009 - 2010)

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Market should bounce quite nicely today or tomorrow and in the near/medium term. I look for continued bounce into the 850 area with 940-950 as a top. I am not saying we will get that far, but I think that it will be tough to break that area if we get near it.:)
 
Quote from bidask:

b1s2, can you teach me to determine trend direction? i just don't see what you're seeing.
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It's just a matter of time frame. I am looking longer term than most. I believe the selloff simply provides places to cover shorts or get long in the near to medium term. I'm not talking about 15 minute charts. My methods are throughout ET.

--The main ingredient is prudent risk management. :)
 
Quote from Buy1Sell2:

It's just a matter of time frame. I am looking longer term than most. I believe the selloff simply provides places to cover shorts or get long in the near to medium term. I'm not talking about 15 minute charts. My methods are throughout ET.

--The main ingredient is prudent risk management. :)
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The RTH 1/2 hr chart just got enough momentum from the lower time frames giving it a 2 day window to take out 807 with high probability.

But, how it gets there and from what price level? :D
 
I believe if the market pulls back farther, we will have a better bounce than the last one and I will still look to short at higher levels. However, we will most likely continue upward from here for a bit as described in my earlier communique.
 
Quote from Buy1Sell2:

Market should bounce quite nicely today or tomorrow and in the near/medium term. I look for continued bounce into the 850 area with 940-950 as a top. I am not saying we will get that far, but I think that it will be tough to break that area if we get near it.:)
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Options paint a different picture.
 
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