ES Journal Archive (2009 - 2010)

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Gap at 866 4:00 close is almost gone :confused:
Thought I saw 10+ pt down last night ... amazing.

RTH PP 71.5 S1 857.25 S2 846.25

If buying the dip actions continue this morning I am not sure if I want to play the bounce at all.
 
Quote from Pekelo:

That was a good addition based on the 2nd gap rule, but I would have got out at the SMA bounce line of 840. Anyway, you might want to tighten the stop loss, because I predict 1000 in the next 2 weeks and Metastock agrees:
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1000 still in play , but it did not happen within 2 weeks of 11/25/08 and has not happened yet. I keep my buy stop at 1075 for now.
 
Metastock switched to Sell yesterday (longer term signal). The previous Long signal was good for about 40+ points....
The MACD also looks like going to cross over on the daily...

Today we have the 3rd downgap in 5 trading days...
 
Quote from Pekelo:

... and 2nd gap rule acts as safety valve....

Futures at the cash close were around 868...
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It did act as a safety valve (although we took a dip overnight) but we are back and above the 868 level...
 
Quote from Buy1Sell2:

Weekly Macd has been consolidating, but remains strongly down.
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false breakout on the weekly, trapped alot of hopeful longs. I was trapped short, the drawdown was painful.
 

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