Profit target #1 hit. Updated chart attached with the other zones. We should hit some resistance in the low-mid 770's before going to target #2, but I'm going to try and game it.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
- Start date
- Status
Profit target #1 hit. Updated chart attached with the other zones. We should hit some resistance in the low-mid 770's before going to target #2, but I'm going to try and game it.
Quote from iloveoptions:
I've got enough staying power till 998 and will be adding every 25 or so points
Let me get this straight: what do you mean by "enough staying power"?
Does 998 represent an eventual margin call by the broker?
If yes, why would you be willing to piss it all away on a single trade?
I may have misunderstood, so please explain.
DEMTDAYBOYZ taught me never to doubt em.
caveat: forwarded to me, I have heard of demark but have no idea about how successful is this forecasting.
and who the hell will base trading decisions with trading real money e.g. in June e-minis rather than March, based on a one in 27 years event?
but when the market turns you do get these weird pronouncements that could be good for a few $ or totally stupid and useless.
-----------------------------------------------------------------------------------
From Tom DeMarks web site..can anyone verify this please?
"If the S&P 500 can end the day above 712.87 (last Wednesday's close), then it would be the first time in 27 years (1982) that the index closed at a new low one day, then rallied enough the following day to close above its five prior closes. The 1982 instance marked the end of that bear market."
and who the hell will base trading decisions with trading real money e.g. in June e-minis rather than March, based on a one in 27 years event?
but when the market turns you do get these weird pronouncements that could be good for a few $ or totally stupid and useless.
-----------------------------------------------------------------------------------
From Tom DeMarks web site..can anyone verify this please?
"If the S&P 500 can end the day above 712.87 (last Wednesday's close), then it would be the first time in 27 years (1982) that the index closed at a new low one day, then rallied enough the following day to close above its five prior closes. The 1982 instance marked the end of that bear market."
more credible is this:
The S&P 500 has now rallied as much as 12.9% from low to high off last week's trough and without too much effort has sliced through a number of short term resistance as well as its Nov low/Feb breakdown point today. For the near term momentum is expected to carry forward into tomorrow with the next resistance in the 760/761 area followed by 765 and 770/772. However, we now are becoming somewhat extended suggesting potential for a near term pause to begin at some point Friday or early next week.
SPX resistance @ 760/61, 779/81, 788/789
support @ 742/740, 722/720, 714/712
see attached chart
Thanks for the heads up. I'm not too keen on these gap plays, but the 775 gap made on 2/19 got filled on the following day. So is there a need to revisit the gap that has already been filled?Quote from austinp:
rollover sessions are usually sideways twisters, up & down like yesterday was. A directional session was expected after all these recent "doji" days in succession, but those afternoon ramps are always hard to believe.
Three gaps filled in three days... congestion at these highs, then clustered magnets near next gap above 775. ES 920 is the highest open gap from early Jan drop.
March full moon was 2:38am est, I believe. Always gets wild once a month there
Speaking of full moon, my sources tell me that there's a credible evidence to believe that the moonie have teamed up with the trannies. Now that's unthinkable if you ask me. FWIW :eek:
- Status