ES Journal Archive (2009 - 2010)

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10-02-09 11:46 AM

Double bottom being built. Have a plan.
If then else. Long target 1048.

From 1050 - 1077, shorts are in play.
 
Quote from JSSPMK:

I would be really surprised if HSI doesn't start moving lower this week, it's got a substantial divergence on its Weekly chart + on the Daily the index is now trading below its 50 average, last time it dipped under it was back in July '09 at which point index only survived 1 full day below the average, otherwise last time it was trading below it was back in mid March '09.

I think it's likely to expect a headfake towards resistance especially after todays' US/European session, but that Weekly 'ripe' divergence makes me think it goes down hard this week.

(I believe it's relevant as we are global now :))
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Depends on how markets will interpret Australia's "unexpected" interest rate increase. If the thinking prevails they acted too early in a still fragile world economy it might end in a desaster...
 
Quote from wave:

Dollar long setting up, building a double bottom, S&P and October, 880 is the stop.
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880 SPX correlates very well to about 1.38 on the Eur/Usd. Momentum is rolling over on the Eur, a double top would be nice though. :)

Last time I posted about Euro we were at the bottom of the channel, we penetrated the H4 but spiked up nice on the daily, that was a critical point as is this. We will find out by Thursday what is going down.
 

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