ES Journal Archive (2009 - 2010)

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Since everybody is waiting for a drop, I bet we rally. We close in the green....

Edit: I actually expect a doji, but the point is the contrarian nature of the masses' opinion.
 
Quote from Pekelo:

Since everybody is waiting for a drop, I bet we rally. We close in the green....
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Financials are spoiling the bears day, and in the meantime, I've missed two great longs. Stupid.

It's Friday of a very bullish week, which typically is a call for profit takers.
 
The swingtrade sell signal would be when the W %R hits zero on the daily. We are getting really close but not there just yet, around -10 right now....

I don't think the drop would start earlier than Monday....
 
Quote from Pekelo:

W %R hits zero on
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Pek

Please pardon my ignorance, can you please clarify what indicator that is?

BTW, I'm in agreement w/ you on the Doji, and also with the the beginning of a real drop (If we are to get one) starting Monday, specifically Monday afternoon. I would be more convinced of Monday's probability if we end today w a doji.
 
Quote from gkramer:

Financials are spoiling the bears day, and in the meantime, I've missed two great longs. Stupid.

It's Friday of a very bullish week, which typically is a call for profit takers.
More...

Yes financials are strong but aapl bidu etc are weak so we might get selling still
 
Quote from Eko_Trader:

Pek

Please pardon my ignorance, can you please clarify what indicator that is?

BTW, I'm in agreement w/ you on the Doji, and also with the the beginning of a real drop (If we are to get one) starting Monday, specifically Monday afternoon. I would be more convinced of Monday's probability if we end today w a doji.
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Williams % R.
 
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