ES Journal Archive (2009 - 2010)

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Quote from porge:

so we reverse at the r/s points? what if it continues.? following the trend does not require s/r....if one can read the chart.....
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tell us how...
 
Quote from Jahajee:

Bradley is like a Black box, I don't know what is the logic, the algorithms, the rationale for it.

But, we know about PA, TA etc, so let's use these tools to try to determine probable market direction and path.

The way I see it --- market ran up to resistance, then came back all the way and tested yesterday's lows ( Tuesday) successfully, then bounced and consolidated sideways/up for about 2 hours, and then cleared resistance and 822/23 and broke above existing HOD and finished strongly, near the highs.

To me, this indicates a bottom has been put in, at least ST bottom, and possibly IT and LT but we have to wait for the market to give us more definite answers in the next few days. Critical resistance points are at 850, 865 and then near 900, with supports at 830, 815, and Tuesday's low at 798.

So, until further notice, a ST bottom is in place and markets should rally from here.

We will take it from there in real time....
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Convincing... Covering and reversing at 830
 
Quote from Jahajee:

Bradley is like a Black box, I don't know what is the logic, the algorithms, the rationale for it.

But, we know about PA, TA etc, so let's use these tools to try to determine probable market direction and path.

The way I see it --- market ran up to resistance, then came back all the way and tested yesterday's lows ( Tuesday) successfully, then bounced and consolidated sideways/up for about 2 hours, and then cleared resistance and 822/23 and broke above existing HOD and finished strongly, near the highs.

To me, this indicates a bottom has been put in, at least ST bottom, and possibly IT and LT but we have to wait for the market to give us more definite answers in the next few days. Critical resistance points are at 850, 865 and then near 900, with supports at 830, 815, and Tuesday's low at 798.

So, until further notice, a ST bottom is in place and markets should rally from here.

We will take it from there in real time....
More...

We have a test of quarterly/yearly low and bounced off, on close only bases.

First target is simply this week's high, then the gap above and last week's close.

It should probably be sideway market for a while, like a week or two, until after more news arrive to move the market ... something boring :)
 
The backdrop is that the bounce we got yesterday is a weak bounce by all measures.

Weaker than the low made last year in Nov.

Thus some extra base forming action is needed to enable the market to reach higher grounds, otherwise, after pushing through various resistance directly above, the market will stall hard and fast.

Several attempts to break it lower in these 2 weeks, with failure, is a good start.
 
I dont have a color printer but i want to print the think or swim charts. Does anybody know how to get rid of the black background and make it white so i can see the chart better?
 
jajahee...I have had many bad experiences here with many traders some who are still here.........I wish you and others all the best. Trading in all forms is a dangerous to your pocketbook business. Takes many years of hard work to succeed. I read the chart with candlesticks. 5 or 6 candle patterns are there all day everyday...they never go away in their accuracy. I use a couple of indicator lines but they are truly crutches. He wh o develops systems traps himself into difficulty being a good trader without tremendous unloading of too much mental overload. happy trading
 
Overall still bearish... I've been stopped shorting near support last time round, I will try it again once SPX heads towards 800, good trading 2 all!

Quote from Lawrence Chan:

The backdrop is that the bounce we got yesterday is a weak bounce by all measures.

Weaker than the low made last year in Nov.

Thus some extra base forming action is needed to enable the market to reach higher grounds, otherwise, after pushing through various resistance directly above, the market will stall hard and fast.

Several attempts to break it lower in these 2 weeks, with failure, is a good start.
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Quote from JSSPMK:

Overall still bearish... I've been stopped shorting near support last time round, I will try it again once SPX heads towards 800, good trading 2 all!
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Since 840 shuts it down and 820 should be touched sometime today, the retest of low scenario is likely.

Personally, I am extremely bearish until 750 area is taken out 1st.

Pek, what did you say last time where your target low for 2009 was?
 
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