ES Journal Archive (2006 - 2008)

If the low for the day is yet to come, the close will be ugly.

The market retested the early morning low, after testing the overnight high (low 1490's). Long limit at 72.25. If this low does not hold, next stop=1461 zone (Fed panic low).

 

Oops, I screwed up. Meant to close both positions at 81.25 but accidentally closed only add-on position. Initial long still running.

I don't like being long here, Out at 1475.75 for +3. That buttonology mistake cost me 6 points, dammit. Lesson learned.

 

Out at 76.75 and 77.50. Didn't even get to 85 resistance. Not particularly bullish action.

 

Everyone else must know what this graph represents - am I missing something?

 

Not a clue...must be some dumbass lemming quant model.

 

77.50 could be good for a move to 87.50. Not taking it, FWIW. Banks breaking down further. Ugly.

 

Spec what's the near term implications?

 

like any crisis times, adding liquidity could mark a intermediate turn.

 

Lots of people leaning on the market here...ramp higher in the cards???

 

Looking for capitulation and reversal. No more selling short today for me.

News is worse than it was when ES hit 1432.75, imo. Higher low, worse news...