ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Well well well what do we have here mr market. Isn't that a break of the ES 240min globex channel...?
Short term selling pressures coming in and a rude awakening for the last minute long suckers.
Let's see if the short side is crowded enough this time for a decent retracement. 750/60 would then have everyone's attention for a rebound.
On a note aside I was waiting for NQ 1187 to print and reverse there. It was missed by 5 points or so. It would have been a new yearly high and on a weekly chart it's the neckline of a double bottom formation. It is also the third time the market goes up there and fails to print above since the beginning of this year (01/06/09 - 02/10/09 and 03/26/09). It has been my experience that this "magnet zone" setup usually leads to a breakout.
Good trading all.
Short term selling pressures coming in and a rude awakening for the last minute long suckers.
Let's see if the short side is crowded enough this time for a decent retracement. 750/60 would then have everyone's attention for a rebound.
On a note aside I was waiting for NQ 1187 to print and reverse there. It was missed by 5 points or so. It would have been a new yearly high and on a weekly chart it's the neckline of a double bottom formation. It is also the third time the market goes up there and fails to print above since the beginning of this year (01/06/09 - 02/10/09 and 03/26/09). It has been my experience that this "magnet zone" setup usually leads to a breakout.
Good trading all.
Quote from JSSPMK:
480m finally provided a turning point, a break of 760 & I see 740-720 (divergence based targets) & if by that time Daily chart turns, then perhaps we re-visit Satan's lounge
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2368565>
No Puedes Pasar!! LOL.
maybe a revisit to 750 would sober up those trannies!
All eyes on GM today.
http://www.youtube.com/watch?v=GavYHXylPVc
Would like to see Thusday's low taken out and move to 777, then to fill gap to 62 area the next day or so. 804-808 look like good short entries if we make it back up, remaining short for the day.
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