ES Journal Archive (2011)

[ammo]

long the eur might be a good trade,the support area ,in theory was tagged, bottom may be in for the day

 

[PACMAN1]

Quote from Laissez Faire:

That is certainly one possibility, but the more time we spend inside the opening range, the less likely it is that we continue selling.

NQ also put in a higher low on the break and never took out the morning lows.

NYSE TICK does not look particulary weak.

Last day of the month window dressing.

That said, we are still making lower highs like you said, so yeah, maybe.

Looks like you are right.

 

[Laissez Faire]

Above:

Opening range high at 67,50.

S2 = 68,50.

Friday low/AH high = 72,75.

50% gap at 73,75.

S1 = 74,50.

Friday`s 50% = 78.

Pivot point = 79.

Gap fill = 81.

Friday high = 83,50.

R1 = 85,50.

Thursday high = 89,25.

 

[macho grande]

Quote from macho grande:

i'm thinking ~66 to cover my longs...just off top my head, and eyeballing the 5 min

flat@ 1267

S 1267

yep, LF was right

ps EURO long covered, short spot 1.3947

 

[Laissez Faire]

A gap fill does not look like too much to ask by end of day.

Recent average RTH range is between 20-25.

Gap fill gives us a 14 point range.

That means we can easily trade up to Thursday`s highs and still be in line with the average range.

First we need to take out the morning highs though.

 

[Picaso]

Quote from Laissez Faire:

Good observation, Picaso.

I`ve seen them diverge though and the last day of the month may be as good as any I guess.

What about the NYSE TICK?

How`s up/down volume looking?

To me, it simply looks like the probabilities of a sell-off from here are decreasing.

On a real weak day, one would like to see all the indices move in concert, right?

That's been some bounce!

I don't want to marry my view, but still looks mostly a risk off day to me, even if it's corrected more than I expected.

Up/down 1 to 4

TICK positive and TICK 5' at unsustainable levels a minute ago

Ffffffffffffff, I just realize I had my lunch doldrums time-frame off by one hour

What a moron! Hahahaha

Then maybe we're going up after all... now we tank

---

LF, isn't gap fill at 1282 --> 24 points --> below 1270 bearish???

 

[JoshDance]

We've hit 1 tick below HOD, and have reached the 100% fib extension of the move from LOD to 64 (pullback to 61.75). At pretty decent resistance, and I expect a nice retrace down here for at least 3 or 4 points

 

[ammo]

if the euro turns out to be a dead cat bounce , the es has a ledge and cleavage at 54 and 50 -44 that could draw as magnets

 

[Laissez Faire]

I was wrong on the average range measured move as I measured from the open.

Gap fill at 81 gives us a range that is just over 20.

Thursday`s high gives us roughly 30, which is above average.

 

[ammo]

reducing ratio