ES Journal Archive (2011)

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Quote from Laissez Faire:

Is the high in for the day or is there potential for an even higher close? 1350?

Let`s hear it :)
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this current PA doesn't look very strong. I certainly am not buying it. I think the high is in.
 
Quote from wiesman02:

this current PA doesn't look very strong. I certainly am not buying it. I think the high is in.
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This PA makes me nervous, but it is after all the ES contract :)

Could just as well be retrace action as topping. NQ looks a little stronger though.

Maybe I should be flexible and grap 0,75-1,0 points.
 
Quote from Laissez Faire:

Long @ 1343. Stop @ 1341. Target 1346.

Higher lows in NQ and closing above 50% now.
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Out @ 1343,75.

I don`t like the weakness in NQ and the tight range.

Better grab some nickels when I can and reconsider the PA over a cup of coffee.

Of course, we might blast through 44 by the time I`ve gotten my coffee :)
 
Quote from wiesman02:

this current PA doesn't look very strong. I certainly am not buying it. I think the high is in.
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If the current PA does not look very strong, it certainly does not look very weak either. Would you agree?

A good indication of strength, IMO, is that we never retraced all the way to 50% on the sell-off. The bulls have been in control all day long.

If we do close around the highs, we may simply drift higher this last hour into the close without any violent moves.

However, YM looks like it`s currently forming a double top. And NQ is making lower highs after the close above 50%.
 
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