ES Journal Archive (2009 - 2010)

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Daily bouncing off 200 day though I would expect it to be broken - looks like market trying to deny first real possibility of the 50/200 day SMA cross on daily.

Transports pretty nasty and RUT broke 500 level.

May get a little bounce here but I would expect a bit more weakness to come in after that. Energy sector taking it on the chin - inflation trade unwinding for now.
 
Quote from Buy1Sell2:

Did you see an upside reversal on the 5 minute chart?
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this is going to be very good discussion. Nice trade Sal.

I don't see reversal, but a recent swing low is always good spot to me to get out and see. If trend continues it will make new low, then re-short on the test of this level, if trend reverses you have fished the low. The risk is the trend continues and does not look back but that is not often the case. IMHO
 
Quote from saliva:



Yes I see a reversal, but by how much I don't know.
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Just took a look at the 5 minute, which I rarely do, and currently don't see upside reversal.--At least not on that timeframe. --
 
there is support in the cash at 898.5-99,next support below that is 841, 841 is the mother line connecting 1929 and 1987 highs, i see it as a magnet for the week, its the blue line on the previous chart
 
Quote from Decel:

Long NQ 1439.75

I sense a recovery
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Geh, no gestation period? No 11:00 high? :mad:

Interesting how the ES went sideways (SDD?) while the NQ dropped further...
 
Quote from Buy1Sell2:

Just took a look at the 5 minute, which I rarely do, and currently don't see upside reversal.--At least not on that timeframe. --
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Uhm, maybe you and I have a different way of looking at things, let alone how we define "upside". I see a potential upside target of 905-907. That's 6-8 points from the low. Perhaps that is too small for you to consider as a reversal? It isn't for me.
 
Quote from Decel:

Geh, no gestation period? No 11:00 high? :mad:

Interesting how the ES went sideways (SDD?) while the NQ dropped further...
More...

IMO, there are many factors that weigh in favor of a down day (which could potentially not look back): strength of down move at the open, breakout of a multiday bear flag, down gap with no test at all since the open, etc...
 
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