ES Journal Archive (2009 - 2010)

adadadog · Aug 18, 2009

there was 5pts divergence between es price and vwap (1m chart), and a hs forming, right shoulder to be formed. going down?

Lawrence Chan · Aug 18, 2009

Quote from [Proximo]:

Was expecting 972 to be hit today.

Maybe in the afternoon now?

Once the MM inventories are averaged out, the down move will continue.

They need some time here to distribute the "goods".

The 1 pt gap below is a hint.

ivanbaj · Aug 18, 2009

some short support here will be appreciated.

tstones · Aug 18, 2009

we should at least test 979 again.

Quote from Lawrence Chan:

NQ tested previous day high and stalled.

If NQ reenter its OR, the sell off on 4-hour will continue.

Lawrence Chan · Aug 18, 2009

My guess is that op ex price target for friday close is either 975 or 950.

Thus the urgency to take it down this way.

ivanbaj · Aug 18, 2009

shoot me now!

Decel · Aug 18, 2009

Quote from Lawrence Chan:Once the MM inventories are averaged out, the down move will continue.

They need some time here to distribute the "goods".
The 1 pt gap below is a hint.

So not closing the gap, leaving 1pt leads to the idea that they will revisit it soon?

So the gap isn't closed unless it's recovered completely?

Frankly that 1pt kept me from going long, so I am very interested in its meaning.

Thanks for the info as always LC, your posts are in a league of their own

Lawrence Chan · Aug 18, 2009

Quote from Decel:

So not closing the gap, leaving 1pt leads to the idea that they will revisit it soon?

So the gap isn't closed unless it's recovered completely?

Frankly that 1pt kept me from going long, so I am very interested in its meaning.

Thanks for the info as always LC, your posts are in a league of their own

Do not take my word as is.

Search for all historical cases where the cash gap was not filled at open, then run the other way til 1 pm or so.

Lawrence Chan · Aug 18, 2009

Quote from Lawrence Chan:

Do not take my word as is.

Search for all historical cases where the cash gap was not filled at open, then run the other way til 1 pm or so.

They do not ALWAYS go down big time.

Key is noon to 1 pm - how it develops into some kind of top.

MandelbrotSet · Aug 18, 2009

Quote from Decel:

All the way to ~1015 :eek:

I'm now at school (MBA, lol , blame my morbid curiosity), so can't trade/post like I used to.

LOL, sincere good luck with that!

Quote from Decel:

Do love to read these boards. I'm a bit surprised that B1S2 is looking to go long again though :eek:

If the 960-970 area holds, we could rebound and go substantially higher ... but I would look for the market to make it back down there (as I said previously) before we (might) get a strong resumption of the uptrend.

Good luck with school ...