Measured move target of 1253.50 was nearly perfect (at least so far). 1336 - 1275.50 - 1314 - 1253.50. A lot of trading careers ended...
That certainly does not meet my definition of divergence. To me, RSI divergence requires that price makes a lower low while RSI makes a higher...
Just covered my shorts from 1325 here at 1294 for +31. Now flat, looking to re-enter short above 1310 (after gap closed).
What are your odds on that happening (i.e., holding here)?
Excellent point, sir. Thanks!
You quoting ESH8 prices? When you posted this, we had spiked down to 1282, and price action suggesting lower. Also, not very impressive volume...
Sounds about right, although I'd be really surprised if we get to 1150 without one or two impressive bear-market rallies along the way.
Took the cheese. Went short 1/2 position right at the close at 1326. Looks like we're down about 4 since then (1322). Looking to cover somewhere...
Dammit, I'm having the hardest time resisting going short here. Maybe just one toe in the water? :confused:
MACD divergence and RSI divergence suggest not (to me anyway). At least not in the next hour. I think Dow +330 ought to be enough for the CNBC...
This looks to me like a relatively low-risk short entry. However, it's so late in the day I will probably just call it a day.
Sold half of long position at 1308. Other half still long but with a very tight trailing stop that could go any time now. My original target when...
I find first prediction implausible, second within the realm of possibility.
Hopefully, the 10:30 crew has done its worst, and we move up again to my 1312 target for selling my remaining longs. Hopefully...
You don't think we're going to see 1312 this morning? (That's where I was planning to sell the remaining half of my longs.)
Hope you're right. I'm still holding half my longs from yesterday's close.
Only if you get up reeeely early! Actually, I lilke your four-day-cycle theory better.
Point taken. I did not post that entry. My bad.
I'm with you, B1S2. This is a spike, not a trend. But I was glad to get a nice piece of it nevertheless.
Wow, I can't believe it. Went long at yesterday's close at 1275. Just sold half at 1307 for +32! Still holding half long. When's the last time...
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