Super bearish set up. Just watch what happens. They will push it up overnight almost a sure thing, just watch.
What I am saying is, in a downtrend this is a very bearish technical setup, some may wait for conformation, meaning a red candle pushing at least half way into the green up candle. I would wait for that conformation. We are up near resistance once again. I am betting the bulls try very very hard to take the ball away from the bears starting RIGHT NOW. We will be up tomorrow.
We have a minor over/under at 1370 and a major over/under at 1398 - significant market profile levels 1370 and 1398 areas. I will keep selling the ES above 1370 at any delta divergence signal all the way up to 1398. The price close for the ES today is not any surprise to me - resting at the minor over/under area.
Dude...EXACTLY what I was saying here... the market is pointing to huge move tomorrow after jobs report...money on the sidelines and no big ARB movement today...agree?...thoughts?...really believe tomorrow will be massive sell off of weeks gains or huge rally based on report and shrugging off ole 'credit woes'...market very stagnant today...also Oil down only slightly, Gold up slightly and the dollar index only down slightly and Euro only up slightly...hmmm, sounds like the 'perfect storm' set-up for a huge move either way tomorrow...agree? UPDATE at 4:00PM Eastern...ES CLOSES RTH AT 0.00 CHANGE...THE ABOVE IS CONFIRMED!!!
the world mrkts are in big trouble financially,thats what they are reporting,everyone is waiting for anykind of bomb to take this thing down,so the emphasis is loaded to the downside,bernanke and the boys are going to do whatever it takes to keep this mrkt up,where is the most money to be made by morgan and sax and merrill,,they are long since monday, so where do you think we are going?
My biggest concern is when they manipulate the data. They can always revise it down at the next report like they have been doing. This is why most people are flat going into it.
See how price keeps getting pulled back to the ES 1370 level - price has been unable to get anywhere near 1398 at this point. This is why I keep selling all rallies above 1370, it is a strong over/under price level. A rejection of this area means selling will come in and cause southward price rotation - AGAIN (with the trend).
Sold rallies again today above 1370 and covered all remaining positions at 1370.00 near the close. 1370 price level over/under is building up a good distribution for a big move - which way, wink, wink? Price failed to trade to the next resistance over/under level at 1398 again today - keep watching the zone between these two over/under levels. This has been some very controlled trading for several days now.