ES Journal Archive (2009 - 2010)

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As I have said for some time it is assumed that the 900 gap will not fill, but the 1005 gap has a reasonable chance of filling and the gap from 1025 this morning should fill. Too bad we don’t know exactly when it will do so.

Headlines on CNBC home page today:
“Equities Set For 'Double-Digit' Rates of Return: Manager
Bull Market Will Continue: Strategists
Charts Signal 'Buy', Dow Heads for 12,000
Stocks Could Rally 15% by Year-End: Strategist”

With almost everyone convinced the current rally will continue without pause and central bankers this weekend making sure everyone knows they are intent on creating another bubble, we have to start to get a little worried. Unfortunately knowing you are in a bubble or starting to form a bubble is not much help to a trader. The bubble could grow another 100% over the next year or pop 5 minutes from now.
 
Quote from MandelbrotSet:

Yep

With 1036 representing resistance and 1016 as support, I'd say we most like trade within that range today (all-in-all, a pretty safe bet).
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Are your numbers cash or es ?
 
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