ES Journal Archive (2009 - 2010)

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Just a monthly chart of the S&P... I highlighted a price band I think is important due to the confluence of major turning points and consolidation areas dating back to '98. Nothing new, but its always good to take several steps back and see the macro picture.

In regards to this level... I'll wait for initial weakness before I go short on a retrace. This market is in impulse mode... beware.

Possible scenario since all eyes seem to be on that zone - break through 950 above zone and the 200sma, eventually stall at ~1000 give or take 15, then begin the retest of ~750. Of course it could easily turn in the zone as its pretty strong... ahh the unlimited possibilities of time and price. All just brainstorming right now, however all scenarios I'm considering operate under my opinion that there WILL be a deep retrace at some point.
 

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Quote from paul_alan:

long 913 - no stop, will add again
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Sweet. Trading up at 919 now. Looking for a bit more to take some off, then hopefully get a small retrace to get long on for the next rise up. Probably get a nice recation bounce off the stress test stuff?
T-day, baby!
 
Quote from paul_alan:

Sweet. Trading up at 919 now. Looking for a bit more to take some off, then hopefully get a small retrace to get long on for the next rise up. Probably get a nice recation bounce off the stress test stuff?
T-day, baby!
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You nailed it. Up near 922 now.
Tempted to join you in that swing trade upto 1000. Seems like a given, although i usually just daytrade. Are you thinking that around 910 will be a good place to get long if the bears are able to get it down there?
 
Quote from pocketmoney:

probably very dangerous going short in this market, but trying one here at 919.75. 3 point stop
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Stopped....unsuprisingly.
taking a long only policy on all trades for the time being.
Good luck all.
 
Quote from paul_alan:

long 913 - no stop, will add again
More...

Taking some off here at 923 for 10 points profit :)
Doubt we can drop much more than 6 points or so. If we do I will add the long back on and add again if necessary. We are in 'mad mode' lol
 
Quote from paul_alan:

Taking some off here at 923 for 10 points profit :)
Doubt we can drop much more than 6 points or so. If we do I will add the long back on and add again if necessary. We are in 'mad mode' lol
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hmmm....still going up.
Need a pullback to put the other half back on, otherwise Ill just hold this one for 20 points or so. Stress test and employment stuff tomorrow both probably give us some nice rallies?
 
Quote from Pekelo:

Tonight's word is: TRACKRECORD

That was your 4th post here and you expect us to worship you like you were Pek... I mean Apex??? You first establish a trackrecord of excellent calls, THEN you can bitch about if/when we don't believe you.

Not to mention most of us are daytraders, so a longer term prediction can be interesting, but not so relevant or important.

But if you need ego massaging, please step
into parlour #3.... :)
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I'm never going to have many posts because I don't have the time nor the inclination. So if worth is based on number of posts then it ain't going to happen.

Again, just thought it would be helpful to those who have trouble discerning direction to know we were going up (been going up since Apr 20 as I said). I was just trying to be helpful is all. No ego here.

I too am a short term trader but want to know in advance the direction for today.

Not likely I'll post anything again so you guys can rest easy. I was just puzzled and still am, why so many shorting an obvious UP move (look at daily chart since Apr 20).
 
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