ES Journal Archive (2009 - 2010)

[Airwaves]

Quote from Eko_Trader:

I will be very surprised if they came lower than 94 for people to get on board. That has never been the case for this crazy market. I expect a frustrating run up with very little pull back.

I tend to agree.
We may just be in 'mad mode' which the ES seems to do quite often. Just relentless ramps up with no pullbacks for people to get on board. It'd why I chased it today which fortunately worked for me.
We'll see

 

[jonp]

i think the spy will be back to test the 107-108.5 zone sometime next week, that gap has just gotta be filled.

 

[schizo]

Quote from Rashid_G.:

That is a funny chart... You can't use today's high until it becomes a pivot..

I did not use today's high. The top channel line is an extension of the bottom channel line, which I extended up to the high of 06/02 (or the red bar with the long wick--sorry, I don't have my charts open).

My point is that Today's HIGH came in contact with that upper channel line and I believe it will turn down. If it breaks above the upper channel, well, so be it. I guess it's time to flip and go long.

 

[startraitor]

Something very bad is going to happen this weekend.

 

[ammo]

the bottom line is that they know and we dont,lehman ,merrill, bs, used to pick of the pros or get picked off, but there were 2 sides fighting for the mrkt manipulation, no more,so you have to pay tention to a whittled down opposition and a stronger manipulater

 

[Pekelo]

Quote from startraitor:

Something very bad is going to happen this weekend.

The full Moon crazies will come out?

Sarah Palin giving a speech bad, or am I gonna get hit by a car and die bad?

 

[volente_00]

http://www.youtube.com/watch?v=9OWFaGNN5hU&feature=related

 

[optionsnoob7]

Quote from Pekelo:

The full Moon crazies will come out?

Sarah Palin giving a speech bad, or am I gonna get hit by a car and die bad?

A rare african bird told me that Mokèlé-mbèmbé is making a move this coming Sunday-Monday.

 

[Lawrence Chan]

Sal,

If it is a false breakout on Friday, then the breakout zone would not hold on Monday.

Implying continuation of downtrend on daily. =)

 

[tomahawk]

Quote from schizo:



My point is that Today's HIGH came in contact with that upper channel line and I believe it will turn down. If it breaks above the upper channel, well, so be it. I guess it's time to flip and go long.

The bull case I see that could override this starts with the fact that last week's low was pert'near 50% (to the tick) of the run up from the recent low made in early July. The market closed above the key round # 1100 (granted, on light volume) and appears to be forming a handle. Also there is a wider channel line above that may need to be tested, near 1125 at the moment (depending on your lower TL of origin). Several key down-TL's have already been broken to the upside.

Personally none of this stuff matters that much to me when I trade intraday until we approach a new key level. But as daily charts go, this one does appear pretty bullish imho. Then again, full moon tonight.

Good trading.