But have you not been bearish for the last 5 years using the same charts! I don't think TA works on the ES, as the market just goes where the FED want it to go?
ta works, i just play the bearish side, look for reversals,mean reversion, think this is a good spot for a turn,at long term res off a 110+ move, those longer trendlines denote resistance, not skilled enough to call tops, think those guys, all 3 of them, wouldn't be posting on a blog, fundamentally, the machine that's been working together globally seems to be becoming a bit unravelled, may shake the psychological confidence tree of the whales.. all those brokerage houses, banks, traders have to pay bills, salarys, take some money off the table, those are the pullbacks, don't know the size of them, this may conesrvatively pull back to the 78 area , depending on what timeframe you pick http://i.imgur.com/SGxNedU.png dont have the source but read this morning that the bears in the bull bear camp represent 13%, havent seen that since '87
(avg 03.93, reduce 04.5...reduce 3.25add 06 75 reduce 98 75, with ya builder add 04.5 add 2009 75...avg 2007 edit add 09 avg 07 7/16reduce 98.75 keep an eye on that dvol spike and uvol flatline since 1 30 central) reduce 92put these back out at 97 25 against the 99 cash nip,call it a scalp, still holding shorts at 07 .43 add 04 avg 06 74
crossover day on the uvol dvol, these days show lack of leadership, reversion back to nip, could change in last 90+ minutes but that's what it's saying at the moment today s nip in cash is 96,cleave at 00-01 and the 10 day nip is 00
Flatish week for teh SPX, but there's been some decent drops (which I actually love) which i've been able to take advantage of, especially on the NQ, for brilliant profits Now we're due a huge UP week soon after this flat one. Hopefully next week. Have a good weekend