ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from tomahawk:
But it's only "M" day. (technically, "S" day).
Ditto
FoN
New low for last week - checked
1130 for Sep - checked
Let's see if ES is willing to tag its gap below first (bullish) or PPT came to the rescue like last week popping ES up to sky high first(bearish).
Quote from tomahawk:
But it's only "M" day. (technically, "S" day).
They like to front run
Quote from Lawrence Chan:
New low for last week - checked
1130 for Sep - checked
Let's see if ES is willing to tag its gap below first (bullish) or PPT came to the rescue like last week popping ES up to sky high first(bearish).
2 open gaps above to attract the flight of the ES dove.
I posted in my weekly comments that NQ's more bullish than the other 2 indices.
But that is because of one stock only - Apple.
And AMZN, and NFLX, and ARMH, and BRCM and GOOG and biotechs etc...all on rotation at one time or another. Furthermore, AAPL has been reduced in weight for NDX. But who cares, since AAPL IS pretty much the market.
NDX has always led, up or down because NDX is risk appetite, with high beta.
The entire smart phone space is in NDX. Pretty much the entire renewables/alternative energy space is there as well as biotechs.
In other words, anything hot in equities is in the top 100 of the Nasdaq. Trading ES without charting NQ is not a consistent strategy.
Upto euro. If it pauses here at 1.36 area and even drift up to 1.38 to 1.39 area, ES can blast to 60 area easy.
The problem is the euro chart is in complete melt down mode, exactly like 2008. First stop around 1.3 may not even hold because last time euro dived 2000 pips before finding support. At 1.3 it dropped "only" 1000 pips from the break down level, so it may not be enough to stop the selloff.
I prefer daytrade ES during RTH in an environemnt like this.
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