Long target ES hit in half hour!
S&P daily pivots and break-down & up Targets
- Thread starter joeb8822
- Start date
Quote from paysense:
I'm sure and hope you use STOPS in your trading room JB!
I was looking for a move to the sub-818 area after we broke down in the early going yesterday.
The all of a sudden the market became "over-bought" or mark-to-market change rumor. . .but WHAM blew SHORTS right out of the water.
That is 4-for-4 this week with reversals. Things were down early Monday and Tuesday and then reversed.
Things were decidedly up Wednesday and then CRASH! Then yesterday.
A market that reacts to rumors and headline news is very hard for me. With today's atrocious jobs #'s - I guess traders have instead adopted the "rose-colored" glasses mode - - looking for the stimulus package passage as the next news to rally on.
pay$
Pay$, NEVER EVER fade the balance Chart !!
I was looking for the market to break down but it could not hold
below the Mid Point Pivot & 1st hour high
When we broke above I was a Raging bull
Not sure if you watch open range or not but have to respect it !
Bulls Live above Mid Point, Bears live below
JB
Now Today I was a total BEAR as you can see why
GRRRRRRRRRRR
GRRRRRRRRRRR
Has anyone ever added up the times, and the likely hood once price crosses the 'line in the sand' and hits into the red or green.....the probability that the target is hit?
I will have to admit it has been hard to predict this market
but if you see how the markets act when they are ALL are in the breakdown area or breakout area you will notice it is then you can lean hard on the numbers I lay out !
So if the S&P is holding above and Dow is breaking down
you have to be careful, you need ALL markets to be in tandem
is what I am saying.
I will be doing videos in the next 2-3 weeks on the breakdown
levels and how to trade them
Joe Baker
but if you see how the markets act when they are ALL are in the breakdown area or breakout area you will notice it is then you can lean hard on the numbers I lay out !
So if the S&P is holding above and Dow is breaking down
you have to be careful, you need ALL markets to be in tandem
is what I am saying.
I will be doing videos in the next 2-3 weeks on the breakdown
levels and how to trade them
Joe Baker
We took out the 798 level 
NOW what ??
Well, we have to get back above 818 to stop the bleeding
This is what I was saying when we took out the low of Dec.
in Jan. Never a good sign !!
If we fail to take out the 818 and close above it we will test the lows of last year :eek: :eek: :eek:
So be careful
JB
NOW what ??
Well, we have to get back above 818 to stop the bleeding
This is what I was saying when we took out the low of Dec.
in Jan. Never a good sign !!
If we fail to take out the 818 and close above it we will test the lows of last year :eek: :eek: :eek:
So be careful
JB