ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
- Start date
- Status
Both SPY and ES are sitting now at bottom of my channells 94, 1206
They have not so "rigid" bottom, so I will say it can go 1-2 ES point lower and still consider it "bottom stopped us" but if we will go down 4-5 ES points we have break in downtrend channel. Than recent bottom should tested like resistance (so 93-95 and if we tur down from it than we will be with 98 % probability in downtrend channel.
However if we will be stopped here, we still can be in mildly uptrend with top somewhere about 1131.
Btw, my trading models speaks risky long (uptrend channel was more days than is average, but still bottoms more often holds than not). I will wait bounce, than retrace from it and if it will be not bellow current levels I will go long.
They have not so "rigid" bottom, so I will say it can go 1-2 ES point lower and still consider it "bottom stopped us" but if we will go down 4-5 ES points we have break in downtrend channel. Than recent bottom should tested like resistance (so 93-95 and if we tur down from it than we will be with 98 % probability in downtrend channel.
However if we will be stopped here, we still can be in mildly uptrend with top somewhere about 1131.
Btw, my trading models speaks risky long (uptrend channel was more days than is average, but still bottoms more often holds than not). I will wait bounce, than retrace from it and if it will be not bellow current levels I will go long.
They do not know the plan. =)
There is 200 MA magnet at 90 ES on daily. If it will be broken and we continue, keep your hats.
This is problem with airwawes types of trade. They usually works but once will come day when well loaded boat sinks.
I am happy that I am not in his skin. We can just start painting vols 50-70 IHS,
probably 200ma will hold as minimum for bounce, but we have a lot of unfinished business in 900 area ...
This is problem with airwawes types of trade. They usually works but once will come day when well loaded boat sinks.
I am happy that I am not in his skin. We can just start painting vols 50-70 IHS,
probably 200ma will hold as minimum for bounce, but we have a lot of unfinished business in 900 area ...
The FED has only one plan : asset price inflation.
Bill Gross is laughing loud and clearly and throwing his boat load of government bonds into this "rally" and reinvesst into IG corporates.
Yep. I think this leg down is simply bull's exhaustion and frustration with not breaking 1127, triggered by Nikkei's tanking overnight on more US QE and Japan's FinMin refusing to intervene in the FX markets (lest they get burned like the Swiss).
I don't think much has changed with respect to a couple of weeks ago.
But hey, now it's going down...
Old money has successfully removed most of their assets from the system. Thus no matter how much liquidity fed pumps into the system, it is not enough.
Bill Gross is doing something similar to old money, asset shifting that force the government to do what he wants over time.
- Status