ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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King's observation seems to hold for a lot more stocks than just GS.
I checked out many index components and it seems like the selling are very artificial. i.e. a string of down ticks to push price to a slightly lower level, then prices sit at slightly lower levels without further dropping.
I checked out many index components and it seems like the selling are very artificial. i.e. a string of down ticks to push price to a slightly lower level, then prices sit at slightly lower levels without further dropping.
Much like 970 was crucial in late December to confirm November lows, 870 is just as crucial now.
The market always delivers max pain. Max pain will be felt on a close over 870, followed by a gap up with an intra-day meltdown.
It's tough to short the market right now. I'm looking for a drift higher to make a lower high on the H4 with a concurrent 5 or 9 count sell to short the hell out of this thing.
Martin Armstrong's Economic Confidence model suggest that the top is imminent, not bottoming until mid 2011. I have no idea what will set this cascade into action but my eyes are wide open for it.
The market always delivers max pain. Max pain will be felt on a close over 870, followed by a gap up with an intra-day meltdown.
It's tough to short the market right now. I'm looking for a drift higher to make a lower high on the H4 with a concurrent 5 or 9 count sell to short the hell out of this thing.
Martin Armstrong's Economic Confidence model suggest that the top is imminent, not bottoming until mid 2011. I have no idea what will set this cascade into action but my eyes are wide open for it.
Great trade, you naield that bottom like nobody's business.
I agree with your analysis also, it's 50/50 bull/bear, but right now I'm betting it makes for the highs and I'll try to catch the up move on a retrace.
GT
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