ES Journal Archive (2009 - 2010)

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Now last Friday when uncle Ben decided to whisper sweet nothings into the slutty ears of the market, she bounced and the race was on to the north pole. We bounced directly off 1037, now that number happen to "coincidentally" correlate to the rising T-line of the wedge forming on this weekly chart. I obviously expect a bounce in order for us to continue higher, lack of a significant bounce will again make things very scary....you may need S&P 1000 helmets.

Which way will we go? I sure as hell don't know, but I believe the numbers coming out tomorrow, and also the jobs number will tell the tale. Chicago PMI comes out tomorrow, expectations is for a number below 60 (57.3)...if it comes out below 50 (signalling contraction), we will see 1000 in a hot flash!
 

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Quote from coolweb:

I'm pretty sure u don't have to "believe" me, considering I have real time trades posted all over the place.




Just saying: all my longs exited :D
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You have no trades posted to this site in the last year with a price and timestamp. You went "long" somewhere around 1100 as piggie suggests.
 
Quote from NoDoji:

Guys, looking at the daily chart, this thing looks like it's going to break 1037 easily. What am I missing? Why go long here?
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Yeah, a successful test would need to take place.
 
Quote from NoDoji:

Guys, looking at the daily chart, this thing looks like it's going to break 1037 easily. What am I missing? Why go long here?
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I remain short 1,083 with reverse order 1,030.

Looking at ES you might not be missing the point, I was surprised that 1,037 provided such a support until I checked out weekly NDX @ it bounced after hitting 200 weekly SMA, other markets bounced of their daily support zones.

My target remains 1,025 now (81 weekly SMA).

P.S. Atticus well traded, are you Riskarb btw?
 
Quote from atticus:

You have no trades posted to this site in the last year with a price and timestamp. You went "long" somewhere around 1100 as piggie suggests.
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I have no trades posted, U would be correct.
 
Quote from NoDoji:

Guys, looking at the daily chart, this thing looks like it's going to break 1037 easily. What am I missing? Why go long here?
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I am seeing the possibility of today as a repeat of 05/26, 06/07, or 07/21, although this might ignore "normal" candle patterns. The daily does have quite a bit of air under today's LOD which is a concern unfortunately to below my stop. Somewhat lighter volume on today's drop plays into long decision as well. All that to say, short at least to my stop, you'll all be golden. :p
 
Quote from rock34748:

Somewhat lighter volume on today's drop plays into long decision as well.
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No really big volume spikes on 5 min all day until last 10 minutes of rth.


Last 2 T days have been negative.


If we can make a higher low (1040-45) here then I think we move higher.
 
a. ES will DEFINATELY not hold 1037
Its like pissing midsession and holding it back in. Never happens.

b. YM hovering @ 9937 , probably breaks to something ugly like 8000 soon.



Probably down 1.5% tomorrow on the ES, should kick everybody LONG in the face quite good :)
 
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