ES Journal Archive (2009 - 2010)

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Quote from kinggyppo:

I thought it was interesting looking at post market headlines discussing the "reason" the market sold off so hard, ie japan slow growth, rally scepticism, concerns about global growth, blah, blah. The narrative fallacy playing out, causation and correlation are dangerous terms, ask LTCM. More initiative selling than buying.

http://www.charthub.com/images/2009/08/17/Footprint__Delta_Profile
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Yes it is funny :)

Yahoo and other portals simply quote newswires like reuters, etc. on their market updates throughout a trading day. Every hour those staff writers have to come up with some explanation why the mkt is doing XXX or YYY.

If I were one of them, I would have to do the same. It is a tough job to invent so many reasons! :P
 
Quote from Lawrence Chan:

Turned away from the gap below within 1 pt.

PP acted as support.

Previous day high if challenged, I don't think it will act as resistance at all.
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Not so fast, sellers stepped in to sell previous day high afterall.

Gap fill or no gap fill ...
 
Well, we're in a downtrend (for today, LOL) but the market looks like it's trying to move up to the median Pivot Point @ 986.66 where it should/may/might/maybe/probably will/find resistance.

Downtrend/uptrend?

I'll pass. :D

Good trading
 
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