you felt them coming at least, reverse from here to 815 area on monday or a run to 860 I think.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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The level that I worry most is indeed 850-870.
It is 200 pts above the low. It is likely when NDX hits its own resistances, and worst yet, if we have 5 up weeks, the daily will surely turn overbought.
Things will then line up for a big sell off.
Thanks guys. Was not there to watch the mkt in the last hour.
It is one of those days where the range is tight until after 2 pm.
You can think of that as a kind of breakout condition that forces all indices to close either at their highs or lows, as most players are forced to put on their positions at around the same price level.
There's still hope. A bearish wedge is currently in the making. Since my crystal ball is outta whack at the moment, I can't give you the numbers but it should NOT go above 850. Otherwise, the highway to hell won't end until you reach 870 (aka Trannyville), where the sun always shines and the partying never ends.
Quote from saliva:
There's still hope. A bearish wedge is currently in the making. Since my crystal ball is outta whack at the moment, I can't give you the numbers but it should NOT go above 850. Otherwise, the highway to hell won't end until you reach 870 (aka Trannyville), where the sun always shines and the partying never ends.
LOL you remind me of "tampa", who has good sense of humor. Too bad he stopped posting years ago.
I don't know anything about wedges but this level was created about 2 month ago at 40-41. Should of been long after 23 and 29 held today, in hindsight. And a couple of other trades this week treated me the same after changing my game plan. Not a big enough sample to quantify, but going back to what works for me.
Done with the partial out (and not flipping) at levels like that. Was trying to enhance returns, did not work for me.
Done with the partial out (and not flipping) at levels like that. Was trying to enhance returns, did not work for me.
Quote from saliva:
There's still hope. A bearish wedge is currently in the making. Since my crystal ball is outta whack at the moment, I can't give you the numbers but it should NOT go above 850. Otherwise, the highway to hell won't end until you reach 870 (aka Trannyville), where the sun always shines and the partying never ends.
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