dow hit res 10460, trans res 4180, nq hit 78 fib from jan10 hi to feb 5 low, sh 1124 for a pullback, shortterm trade, this looks like a never sell a dull market day
dow hit res 10460, trans res 4180, nq hit 78 fib from jan10 hi to feb 5 low, sh 1124 for a pullback, shortterm trade, this looks like a never sell a dull market day
what level would you select as the "pre-Lehman level"?
Lehman went bust on Sep 15, 2008. Would you use the open/close of that day? Or the open/close of that week?
If you choose the open, then we have the following numbers:
ES ---> 1218.25
NQ ---> 1762.25
YM ---> 11031
NQ is the only emini who broke the pre-Lehman levels. If you take a look at a daily chart, you'll see that the pre-Lehman level has been a major pivot in NQ.
I can't tell when, but I am pretty confident we'll erase the pre-Lehman levels in YM and/or ES by the end of this year.
for the market profile people, heres a hand chart, used someone elses as an easel and tried to white it out, theres a double boob from 1107- 1092 top and 1080 -1054 bottom with cleavage from 1092-1080, this is using each day since 2/5 as 1 letter,we should pullback to 1108 and test support, if we can print 1100 ,should see 92/3, then fill to 1080, gap filll on a bar chart