ES Journal Archive (2009 - 2010)

[Chuck Krug]

Quote from Chuck Krug:

/adds short 947
/lowers stop on all to 951.25

half out 948
stop to rest to 953.5

 

[MandelbrotSet]

Long @ 949.50
Stop @ 945.50

 

[ammo]

add 950

 

[pulsescan]

Quote from MandelbrotSet:

Even with the current drop, both the TREND and price MOMENTUM has not abatted to the upside.

While the latest drop may be attributable to the continued deterioration of in-store sales, the market is just trying to find it's footing before making another move up.

Long trades still recommended for today, good trading.

I'm not sure about that? SPY is showing signs of topping out for the day. This could result in a short term top in the mkt.
CIT Group is not helping the bullish position today.

 

[MandelbrotSet]

Quote from pulsescan:

I'm not sure about that? SPY is showing signs of topping out for the day. This could result in a short term top in the mkt.
CIT Group is not helping the bullish position today.

For now the uptrend (as I measure it) remains intact.

We'll see who wins the current battle (945 is obviously an area that the Bulls have to hold on the short-term time frame).

Good trading

 

[Eko_Trader]

Quote from workwithus:

nice looking symmetrical triangle forming on 5 minute

I think it breaks to the upside, Nasdaq seems to be trending up....it has also been leading this market up so far. I'll take my lead from NQ and trade accordingly.

P.S. The triangle formations has been the theme of this up moves from last week.

 

[ASusilovic]

Quote from Pekelo:

Damn, I am, I mean the dragon is good!



SPX high for the day: 951.62

This is how a classic ADU looks like, print it out and frame it for reference....

Excellent call !

 

[Eko_Trader]

Quote from Eko_Trader:

I think it breaks to the upside, Nasdaq seems to be trending up....it has also been leading this market up so far. I'll take my lead from NQ and trade accordingly.

P.S. The triangle formations has been the theme of this up moves from last week.

It appears that we have broken down. Maybe its time to go fill those gaps below.

 

[Pekelo]

Quote from Pekelo:

My personal guess is that we are not going to go above 960 SPX....

I think this morning at 956.5 we put in a temporary top and it is downhill from here for a while...

 

[MandelbrotSet]

Quote from MandelbrotSet:

Long @ 949.50
Stop @ 945.50

Despite going 2pts in my favor, I was looking for the ES to at least do a retouch of the Open (along with strong support from the DOW), but it didn't happen.

Trade stopped-out for -4pts.

Good trading