ES Journal Archive (2009 - 2010)

[Buy1Sell2]

Quote from Pekelo:

I don't see why. We got 10 pts close to your estimate of the turn of 940, we might have an island reversal today and we just had a doubletop in the last few days, all signaling a change in the weather.

There is no island reversal or doubletop right now in this market in my view. I will continue from the long side only.

In fact, the trend looks to be accelerating to the upside. (short term)

 

[Buy1Sell2]

Quote from Roman Candle:

RC, please do not post in this journal anymore. Thank you in advance for your consideration--Ishmael

 

[Pekelo]

Quote from Buy1Sell2:

There is no island reversal or doubletop right now in this market in my view.

Those are FACTS (those stubborn things), not POVs or let's vote on it.

1. 1st top: Thursday open
2nd top: Friday close (itself a small doubletop)

2. Friday's unfilled upgap and Monday's unfilled downgap makes a perfect example of an island reversal.

For the blind and visually impaired:

 

[ammo]

cash res and supp, expo week ,always a magic act

 

[Buy1Sell2]

No doubletop-- No Island reversal -- Uptrend accelerating--Ishmael

 

[ammo]

could be a rounding top b1s2

 

[Buy1Sell2]

Quote from ammo:

could be a rounding top b1s2

Anything is possible, but odds favor more upside in the short term. Make no mistake I remain bearish long term.

 

[Brendan R]

is it too obvious... 10 points upside on cash 914 => 924

or...

10 points downside 914 => 904....

which one will you choose?

 

[Lawrence Chan]

Quote from Buy1Sell2:

No doubletop-- No Island reversal -- Uptrend accelerating--Ishmael

Until weekly turn bearish, you would not trade the short side - isn't it?

=)

Edit: to break this bullish weekly swing trend, a significant drop is needed and there is no signs in terms of price only data showing that will happen any time soon. Thus, if it is going to happen, it will be another shock again.

 

[Now is Now]

BGT 907.25 S/L 904.25

SELL 911.00