ES Journal Archive (2009 - 2010)

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Quote from ajcrshr:

The market is overbought on weak volume. Bernanke will undoubtedly be more dovish after the CPI numbers last week though so we might have to wait for some negative news out of the piigs to begin heading toward 1030
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Something else that seems rather telling is the fact that all day I see large insider sales of stock. It used to be that insider sales would hit the news wire after hours and they were fairly infrequent. Lately, all day long insider sales coming across the wire. It seems to me that if the insiders thought the green shoots were were on their way to becoming trees that grow to Goldman Sachs' S&P 1300 sky, they wouldn't be selling en masse.
 
We are absolutely not overbought on daily, if you you think it you are not analysing it correctly. Overbought conditions that are stopping movements up are quite far from now. I do not want say that we can not turn down any second but simple it will be not for reason to be overbought. In fact to look on "over" bought/sold indicators show that we will test the high of the year as minimum until we will be in fact overbought.

What makes big problem for me that we are testing from bellow the line "decades support" that was broken just once in market history - in 2008. Ok, I know, it is possible draw it differently and even small variability by such long time line makes big difference but how I draw it we are just knocking on it. It looks to me like fake breakout and now retest. If we will be able stay above I think it will support market very well.
 
Quote from Pholeuon:

We are absolutely not overbought on daily, if you you think it you are not analysing it correctly. Overbought conditions that are stopping movements up are quite far from now. I do not want say that we can not turn down any second but simple it will be not for reason to be overbought. In fact to look on "over" bought/sold indicators show that we will test the high of the year as minimum until we will be in fact overbought.

What makes big problem for me that we are testing from bellow the line "decades support" that was broken just once in market history - in 2008. Ok, I know, it is possible draw it differently and even small variability by such long time line makes big difference but how I draw it we are just knocking on it. It looks to me like fake breakout and now retest. If we will be able stay above I think it will support market very well.
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You devil, that's your 666th post. You should never speak serious matters in that post. :D
 
Quote from Pholeuon:

We are absolutely not overbought on daily, if you you think it you are not analysing it correctly. Overbought conditions that are stopping movements up are quite far from now. I do not want say that we can not turn down any second but simple it will be not for reason to be overbought. In fact to look on "over" bought/sold indicators show that we will test the high of the year as minimum until we will be in fact overbought.

What makes big problem for me that we are testing from bellow the line "decades support" that was broken just once in market history - in 2008. Ok, I know, it is possible draw it differently and even small variability by such long time line makes big difference but how I draw it we are just knocking on it. It looks to me like fake breakout and now retest. If we will be able stay above I think it will support market very well.
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Hey Pho, do you have a chart showing your line?
 
I have chart but not that easy make screenshoot (lot of lines there), but it is easy connect lows somewhere in 95 and 03 and you will see that we are somehow about this line
 
reduced with a fib count starting in 95 when it broke channel, we got within 10 points of that fib, its hard to be accurate with tl's on such a large graph, but pho if we do rally , that rising blue line today is 1207
 

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