ES Journal Archive (2011)

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Huge drop in ZN. Covering all shorts. NQ 2221 is support. No longer sure ES will close that gap today. ZN really took a hit the last 5 mns.
 
Nice bounce, longer term once again looking to see if the markets can get a close above NQ 2237, the 200 ema. Bulls really needs this to happen. It did not happen yesterday and the rally died down. This is key, or we could finally get a real sell-off this week.
 
Quote from marceck:

sell program at NQ 2237. I'm getting dizzy. But again, no close above that, we will sell hard tomorrow.
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Thanks for the color, I appreciate your opinions and you posting them, you have seemed to make some good calls this afternoon.
 
Quote from diablo11:

Thanks for the color, I appreciate your opinions and you posting them, you have seemed to make some good calls this afternoon.
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Thanks.
I have stayed out of trouble by not committing either short or long, just hit and run. The tape is hard to read because the moves are so wide, it just boggles the mind. On top of it, to confuse matters even more, ZN is staying down, so cash is being taken out of treasuries. Are they telling us the rally will keep going much higher? Hedge funds no longer park their cash in banks, they put it in ZN, so they can move in and out quickly, put it to work in stocks if need be.
And look at this, NQ back at 2235.
 
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