ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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637.454 contracts sold between 09-10 a.m. Continuation to follow ? 
Taking a quick break from vacation. Posted on Monday...
On Tuesday early morning we bounced from 1132 ES which is 1137 cash. Then I mentioned that we might repeat it during RTH which we did and the market was at 1137ish just before 10 am when breaking news dipped it 5 pts below the Failure zone, but almost immediately recovered.
So I mentioned that the dragon pattern was in play until we reach the Failure + Height => 3rd top or we go below one more time the 1132 cash low.
I was expecting to reach the 3rd top on a Wendesday, which was foolish of me, it took the T-day to do so. The real question was if the math would be done from the theoretical (1137) or the real (1132) Failure.
Well, on Thursday (while I was driving 8 hours in close to zero visibility, pouring rain) the market had its expected 3rd top at 1157 which was only 1 point away from the 1132+26=1158 using the real Faulire for the math.
And oh boy, was it shortable... The market dropped a nice 20 pts from there, but again, the dragon pattern doesn't say how big the drop is going to be.
So for all practical purposes the dragon pattern played out as expected and I am back to vacationing and waiting for a little sunshine...
See you next week....
On Tuesday early morning we bounced from 1132 ES which is 1137 cash. Then I mentioned that we might repeat it during RTH which we did and the market was at 1137ish just before 10 am when breaking news dipped it 5 pts below the Failure zone, but almost immediately recovered.
So I mentioned that the dragon pattern was in play until we reach the Failure + Height => 3rd top or we go below one more time the 1132 cash low.
I was expecting to reach the 3rd top on a Wendesday, which was foolish of me, it took the T-day to do so. The real question was if the math would be done from the theoretical (1137) or the real (1132) Failure.
Well, on Thursday (while I was driving 8 hours in close to zero visibility, pouring rain) the market had its expected 3rd top at 1157 which was only 1 point away from the 1132+26=1158 using the real Faulire for the math.
And oh boy, was it shortable... The market dropped a nice 20 pts from there, but again, the dragon pattern doesn't say how big the drop is going to be.
So for all practical purposes the dragon pattern played out as expected and I am back to vacationing and waiting for a little sunshine...
See you next week....
Pekelo,
that´s too much substance. Waddell and Reed will care for the next flash crash. We just received confirmation from the most incompetent federal institution the world has ever dealt with : SEC.:eek: :eek:
What's the status on your 1120 short ?
"The Dow Jones had been down about 2.5 percent at 2:30 p.m., when the trader placed an enormous sell order on a futures index of the S&P's index, called the E-Mini S&P 500. The trade was automated by a computer algorithm that was trying to hedge its risk from price declines.
In that one trade, 75,000 contracts were sold within 20 minutes. It was the largest trade of that investment since the start of the year. The firm's previous transaction of that size took more than five hours, the report notes. The trade triggered aggressive selling of the futures contracts and that sent the index sinking about 3 percent in four minutes."
http://finance.yahoo.com/news/1-lar...2.html?x=0&sec=topStories&pos=2&asset=&ccode=
In that one trade, 75,000 contracts were sold within 20 minutes. It was the largest trade of that investment since the start of the year. The firm's previous transaction of that size took more than five hours, the report notes. The trade triggered aggressive selling of the futures contracts and that sent the index sinking about 3 percent in four minutes."
http://finance.yahoo.com/news/1-lar...2.html?x=0&sec=topStories&pos=2&asset=&ccode=
Whenever NQ lags, it's closer to the end of a run, not the beginning of a new one. Look it up. NQ outperforms on the upside and leads to the downside too. This is one of my indicators, so I pay close attention to it. Mostly anything related to more upside in the markets helps NQ more than any other index, be it a better economy or a weaker dollar, NQ will get more money thrown at it by the big guys.
If I'm correct, there should be at least one more shake out rally.
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