H&S with right shoulder around 1100 which also just happens to be around the 50% from 06 to 92 as well
http://quotes.ino.com/chart/?s=CME_ES.H10.E&v=w
http://quotes.ino.com/chart/?s=CME_ES.H10.E&v=w
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ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Quote from Brianharvey:
lol. I hate people like you!
I am trading the SPX through ABN amro spreadbet company in the UK. NOT the ES through DMA. if you read my first post properly you would have seen this.
I can easily post my chart to prove you wrong. 1093.6 is the low with my broker so far, thus Not stopped YET
Dont always be so quick to judge.
My mistake - but then again this is called the ES journal so give me a break to assume that's what you were trading big guy
Quote from wave:
The big picture is lining up with the discount rate hike.
More business failures, more jobs lost, and more banks collapsing. Just like the VIX macro cycle shows what's coming down the pipe.
Index futures seem to have digested the rate hike pretty well. I wouldn't be surprised to see another rally today.
Quote from fseitun:
Index futures seem to have digested the rate hike pretty well. I wouldn't be surprised to see another rally today.
I am not talking about a daily or weekly view. Big picture. Stash your cash friend. The Fed's decisions are a major factor in turning an ordinary economic downturn into a Great Depression. Rasing the discount rate was step one of unintentional consequences.
Buy1Sell2 may have just gotten his S&P 200.
Quote from Brianharvey:
This surely has to bounce a bit.
Going long here at 1098.7 SPX
Stop at 1093.0
closing half here for 4 points at 1102.7
Stop on other half remains.
Quote from riskymove:
My mistake - but then again this is called the ES journal so give me a break to assume that's what you were trading big guy
Fair enough. I only trade the SPX though a UK spreadbet firm at the moment. Not good enough to risk the big bucks on the real contact!
cheers
Quote from wave:
I am not talking about a daily or weekly view. Big picture. Stash your cash friend. The Fed's decisions are a major factor in turning an ordinary economic downturn into a Great Depression. Rasing the discount rate was step one of unintentional consequences.
Buy1Sell2 may have just gotten his S&P 200.
wave, do you believe the discount rate hike is the prelude to a near fed funds rate hike?
The FED statement following the rate hike clearly stated that households and businesses won't be affected.
The problem I see with the above is that the FED has no control over the fed funds rate; it can only indicate a target rate, but the effective rate may be different than what they would like to see. In a time of illiquidity and lack of trust in banks balance sheets, banks will keep charging each other higher rates than the target fed funds rate.
This is why the Discount Rate was very important. Simply, it ensured credit to those banks that couldn't find a reasonable deal with any other bank.
Right now it looks like the FED has thrown all banks in the jungle and leaves it up to them to survive and obtain appropriate financing.
I am not saying it's not the correct move, it may actually unfreeze credit a little by forcing more trust amongst banks.
a friend who's a banker at a smaller bank here in Chicago has said for months , they were not able to borrow more from the fed, and fed were crawling up there a with auditors, he said same for all the smaller banks, this will just make it harder, while the big banks are in a different clique
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