ES Journal Archive (2011)

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Quote from noone3:

Any take for tomorrow?
I was thinking of holding an overnight, but i think that this was quite a pullback so i am uncertain of whats coming this week
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same here, i still want to have a short bias, one thing that supports short bias is that euro hasn't come back as strongly as ES in last few minutes. But I am going flat for the day. Will see tomorrow and then act.
 
Quote from ASusilovic:

200.000 contracts changing hands in the last 7 minutes near the closing. That´s what I call "banging the close".
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Seems like they have been doing this kind of tricky stuff a lot more frequently
 
Quote from gmst:

Thanks for the link on 2nd gap rule...very interesting actually.

Yes I see that IHS on the chart. Thanks for that as well. In future I will be on lookout for such patterns. However, unless I test these pattern's effectiveness, I find it hard to take a trade on it. But yes I agree with the concept that many traders are probably looking at it and it might become self fulfilling prophecy.
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whether they play out on a point scale for the hns pattern or not, they still show a bias of accum or distr
 
Quote from ammo:

whether they play out on a point scale for the hns pattern or not, they still show a bias of accum or distr
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I have heard this before - accumulation and distribution. What does it mean? Which part of a H&S formation points to accumulation and which part to distribution. Is there any 'good' reference for this ?

Thanks ammo.

Edit: Also this accu and dist is being done by whom ? Real money investors, investment banks, sell side, buy side - Mfs, Endowments etc.. And does it even matter who is accumulation/distributing ? I am coming here from futures industry - specs vs commercial kind of thought here.
 
Fitch revises U.S. outlook to Negative; affirms AAA rating. Hit wires around 16:15 est.

This is what probably drove market up last 10 mins before cash close. Market probably had a peak.
 
Quote from ammo:

heres a smaller one that didnt play out, but the rise off the 2nd neck touch,gave you anticipation of the right shoulder, and the turn,anticipation of a drop
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Thanks, I mostly agree that it generally works, and I should be alert about it. I remember you catched developing H&S this time very well. I am sceptical however about the H&S working intra-day, but then how much do i know.

On another note, I am certain that double tops and triple tops/bottoms do work in intra-day setting. Guess I need to be more alert about H&S patterns.
 
If anyone could elaborate on the 2nd gap rule, it would be much appreciated. I read the link but didnt quite get the example. How does it apply today?
Thanks
 
we are in the midst of right sh of this larger one now...dont know the answer on who,but i suspect its the largest money managers,start with ben and the banks,brokerage houses,work your way down,ben would be the flagship,lower would be his armada,we would be the barnacles on the ship
 

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