ES Journal Archive (2009 - 2010)

[smilingsynic]

Previous high failed, and now the daily pivot has failed.

They may go after the previous day's low next. That would be 61.75 ES. They may not GET it, but are going to try.

 

[[Proximo]]

Covering Shorts.

The rabbit came outta the bag.

 

[smilingsynic]

There will probably be a bounce at T's high of 777, but as long as they don't print 91, the mid-low 60's by the end of day is possible, if not probable.

 

[Lawrence Chan]

Quote from smilingsynic:

Previous high failed, and now the daily pivot has failed.

They may go after the previous day's low next. That would be 61.75 ES. They may not GET it, but are going to try.

HS including AH points to 770 which is very close to RTH S1 768.75

The RTH DT, however, is pointing towards 760.

Some Op MMs are very desperate to get 750-775 by Friday close. =)

 

[Pekelo]

Look, Old Yeller is back!:

Edit: Sligthly overshot the expected 3rd bottom but got 5 pts bounce so far from there...

 

[Lawrence Chan]

Be aware that USD is crashing against all majors.

That will put a discount on the sell-off size in the indices, A LOT.

 

[Jahajee]

Too many want a top.
So it could bounce off 770/780 and make a new high above 801.5 ES June

 

[[Proximo]]

Flat as a pankcake. Got 95% of that move. (Top/Bottom).

Wooooooozaaaaahhhhhh.

 

[Bigpipn]

From the peak of the rally yesterday to today combined with the loss in our currency, this is the worst 24 hours in the US markets since 1987.

As I mentioned in another thread, the US$ will continue to fall into oblivion and that should push stocks higher. Once stocks stop rallying and the dollar continues lower, that is where the pain really starts. This is just another bubble.

 

[Lawrence Chan]

Quote from Jahajee:

Too many want a top.
So it could bounce off 770/780 and make a new high above 801.5 ES June

Example why USD is important in this scenario.

For example, USD dropped 5% overall.

Approx equals to 5% higher valuation of indices before the change.

Thus, ES at 780 x 105% = 819.

At 800 yesterday, the market failed to recognize that it is at a discount of 20 pts.

Original sell off target at 750 could be raised to 750 x 105% at 787.5