On this current drop, I think you made the call too early and for the wrong reasons and got lucky. I also don't see 115 happening. I see the most likely near term low as 125-126 range and even if it breaks that (doubtful) then you have more significant support at 122.35. Is it possible to go even lower? Sure. But is it probable?
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Warning: The Next Wave Down Starts Now
- Thread starter jackstone54
- Start date
On this current drop, I think you made the call too early and for the wrong reasons and got lucky. I also don't see 115 happening. I see the most likely near term low as 125-126 range and even if it breaks that (doubtful) then you have more significant support at 122.35. Is it possible to go even lower? Sure. But is it probable?
I'll give you a few more good ones.
Buy some long-dated puts on Apple.
Buy long dated puts on CMG.
Buy long dated puts on GOOG.
Buy long dated puts on ICE.
Lemme see. Double down into the FXP.
Buy long dated puts on SPY.
Short GLD and USO.
Hmmm. That should be a good diverse portfolio for asset protection.
Buy some long-dated puts on Apple.
Buy long dated puts on CMG.
Buy long dated puts on GOOG.
Buy long dated puts on ICE.
Lemme see. Double down into the FXP.
Buy long dated puts on SPY.
Short GLD and USO.
Hmmm. That should be a good diverse portfolio for asset protection.
Quote from Maverickz:
On this current drop, I think you made the call too early and for the wrong reasons and got lucky. I also don't see 115 happening. I see the most likely near term low as 125-126 range and even if it breaks that (doubtful) then you have more significant support at 122.35. Is it possible to go even lower? Sure. But is it probable?
I just turned away from the screen working on another project looked up to see the ES trading down another 5.
The globex was reading JUN08 at 1335.50 and now its at 1329.75. No news out...
The globex was reading JUN08 at 1335.50 and now its at 1329.75. No news out...
ES getting weaker by the minute. Any bets on it holding 1329? Somehow I think were going to 1280 by Tuesday.
Quote from HolyGrail:
Sorry to disappoint you, but until the bullish support line is broken for this bull market WE ARE STILL IN A BULL MARKET.
The bear may indeed come, but right now he is not here.
Granted I don't much about P&F charts but it looks like the Price Action is trading into a corner and one of the two line will have to be broken soon.
Quote from Maverickz:
Granted I don't much about P&F charts but it looks like the Price Action is trading into a corner and one of the two line will have to be broken soon.
You are correct. And just like your chart, the direction is unknown at this time, but the path of least resistance looks up to me.