ES Journal Archive (2009 - 2010)

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from a fundamental perspective, this could be the day that we roll over again in equities... if the fed doesn't do anything aggressive, equities look extremely vulnerable:

1. we just had horrible employment data in the UK. £ is getting hammered again;
2. itraxx credit default index is on the rise again since few days;
3. 1st quarter profit warnings released yesterday (Nucor=best run steel company) and Stora today in europe.

I'm ready to sell the rallies from here...

good luck all
 
Quote from smilingsynic:

Market has now traced 1/3 of the downmove from 1000 area gap SPX (1005) to recent SPX low of 666.67.

If the market now goes back to 1000 from the recent low, it will be pretty darn close to an exact 50% move (666.67+ 333.33.

Weekly PP is 726.50 ES, and monthly PP is 776.25.

770's is resistance one. We're there.

Today was an outside day with an outside and up close. The next day after such a move tends to be bearish.

Longer term, 810-820 area SPX is the bottom of the opening range for the calendar year. There is also an open SPX gap there. This is resistance two.
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The outside up close can be further filtered whether they are taking out month/week high. The stats should be interesting.
 
Quote from Nagelis:

from a fundamental perspective, this could be the day that we roll over again in equities... if the fed doesn't do anything aggressive, equities look extremely vulnerable:

1. we just had horrible employment data in the UK. £ is getting hammered again;
2. itraxx credit default index is on the rise again since few days;
3. 1st quarter profit warnings released yesterday (Nucor=best run steel company) and Stora today in europe.

I'm ready to sell the rallies from here...

good luck all
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Rallies from here imply ES and NQ cleared their respective strongest resistance above head. NQ can gun for 1300 easy where ES can go to 1000 at the same time.

Check out 1998 year end, 1937 mid year to see how things turned out then. You will be surprised.

Bad news does not matter, the chart patterns do. :)
 
Quote from Lawrence Chan:

Rallies from here imply ES and NQ cleared their respective strongest resistance above head. NQ can gun for 1300 easy where ES can go to 1000 at the same time.

Check out 1998 year end, 1937 mid year to see how things turned out then. You will be surprised.

Bad news does not matter, the chart patterns do. :)
More...

I sold my way back down to only 15% long a few semi-solid equities and 85% cash as of ES 777 area. Was buying from ES 740 to 680. So, dumb money contrarian indicator (me) for ES points up. I miss most as usual, but grabbed a little. :cool:

Still watching for at least 740's revisit. Exp week baffles me anyway as a real (not Saliva type) noob. Mostly charting, and learning for rest of week. Good trading folks.
 
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