ES Journal Archive (2009 - 2010)

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Quote from Lawrence Chan:

Overbought by time now ... could be a very powerful drop.

Throw some weight on this Mr. Chan. I am weary from shorting in this up channel. I want to go back to the short the open and go to lunch.....
 
Quote from Lawrence Chan:

Overbought by time now ... could be a very powerful drop.


Can't recall what's the last time for a powerful drop at Pre-FOMC announcement. Combined with the super light volume, this scenario is very unlikely.

My sense is that the market wants to go higher, period.
 
I think it may break 870 this time up. I've heard 870 mentioned on CNBC a few times the past week as resistance and by the time they recognize patterns they are usually over.
 
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