ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
- Start date
- Status
Hmm, 87 seem to have some knotches above the kneecaps, short tonight 85.75, stop 1101.
Aussie's stand down on rate increase. Last couple of major 1-2 overnight pucnhes higher Sun-Mon were China data followed by Aussie raises. Wait till pending home sales tomorrow, if we trade lower into Friday that will be a first in a long time.
RTH high is the tell.
If trade below and then act as resistance then gap fill below in play.
Got too many other things to do lately so no overnight position for now. Will see what happen by open tomorrow.
Hard to say whether this is of any interest to people here, but attached is a monthly ES chart going back ten years, clearly showing two major highs and two major lows.
The sub window is merely measuring bullish/bearish inflows.
You can see how we have recently bounced off the midpoint of the long term channel (white dots) but in recent months of price growth there has been no appetite for long term bullish commitment compared to the past.
However, all is not necessarily lost, because cash cannot remain on the sidelines FONI (fear of no interest) and this needs to be balanced against FOMO (fear of missing out)
There are sooooo many possibilities that it is hardly worth mentioning the twenty most likely and so I won't.
But consider this for a moment.
If the money comes home from the Emerging Markets and dropped into the Indices, then the dollar is allowed to continue it's downward trend (good for exports), and Indices go up so Pensions are saved, and FED retains low interest rates so Home Owners will not be entirely battered to death.
And so as always ES Traders, only buy when the price is about to rise and only sell when the price is about to fall and take everything else including what I have just written with a grain of salt.
PS here is a thought for all you Fibonistas.
What is a fib 50 if it is not merely the midpoint of a channel.
And what is a channel midpoint if it is not merely the top or bottom band of a lesser channel.
Who knows, by the end of today, the thinking ETers amongst us may convert and become Channelistas once they have seen the light.
The sub window is merely measuring bullish/bearish inflows.
You can see how we have recently bounced off the midpoint of the long term channel (white dots) but in recent months of price growth there has been no appetite for long term bullish commitment compared to the past.
However, all is not necessarily lost, because cash cannot remain on the sidelines FONI (fear of no interest) and this needs to be balanced against FOMO (fear of missing out)
There are sooooo many possibilities that it is hardly worth mentioning the twenty most likely and so I won't.
But consider this for a moment.
If the money comes home from the Emerging Markets and dropped into the Indices, then the dollar is allowed to continue it's downward trend (good for exports), and Indices go up so Pensions are saved, and FED retains low interest rates so Home Owners will not be entirely battered to death.
And so as always ES Traders, only buy when the price is about to rise and only sell when the price is about to fall and take everything else including what I have just written with a grain of salt.
PS here is a thought for all you Fibonistas.
What is a fib 50 if it is not merely the midpoint of a channel.
And what is a channel midpoint if it is not merely the top or bottom band of a lesser channel.
Who knows, by the end of today, the thinking ETers amongst us may convert and become Channelistas once they have seen the light.
95-98 short zone, reaction off lower part of short zone should result in larger reversal, still not confirmed.
AH High 91-92
R1 + VWAP 90
ORH 89
Need to blast thru this layers of support for more downside
- Status