ES Journal Archive (2011)

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Quote from startraitor:

tradeable bottom to 1260.
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All indicators say that the market is over sold. Now I realize that when it has moved down this much that will be the case.

But, it continues to move down. So is this just fundamentals overtaking the technicals. Or am I just looking at the wrong technicals?
 
Quote from cashcarewins:

Everybody has their own OS indicators, and based on price / momentum it may look oversold. But I use the ADD (advance / decline) and that has definitely not gotten oversold through all this selling. So I too look for a bit more of a climax before any sustained rallies. Here are the last ten closes:
1232
1324
1569
-1974
-197
-1306
-1802
371
-1498
788

No -2000, no big doubles.
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While I have no opinions about market direction...this seems to be a valid point as the selling seems 'controlled' and has prevented me from getting many trades the last few days...been a little different from the norm..

Keep us posted...thanks

NiN
 
Added at 71.5. Avg is ~73. Stop same. Will add at 69.5 and 67.5 if we get there. May be drinking water instead of mojitos if the bears get me. Target is 80
 
Quote from volente_00:

Added at 71.5. Avg is ~73. Stop same. Will add at 69.5 and 67.5 if we get there. May be drinking water instead of mojitos if the bears get me. Target is 80
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It seems like we are upside down now from ES June at 1276.25. With this deep a penetration, hard to see how that does not act as major resistance today.
 
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