measured moves question (for tommymoose) I might be overlooking something, but where did you get a 1455 close for low bar? I see Close of Low Bar at 1443 (close of 8/3/07) calc would change to 1560-1443 = 117 Close of swing H 1505 â 117 = 1388 Am I missing something?
I don't know what your definition of "value" is, spectre2007, but I have price projections for potential support at 1378,1377 and 1374.75. I haven't run my overnight spreadsheet yet, FWIW, I'm going to run it now and see if I can make any sense of it. will report back later.
market will continue to tank througout the day.. it will be climactic, will hold off position trades till end of day or week or wait for mondays open. markets in a death spiral...............................its recursive cascade, hard to stop the positive mental feedback loops. Only a external event like, a massive Earthquake or a new War can stop it. A external news event is needed, lets see if it can be produced.
besides price projections for potential support at 1378,1377 and 1374.75 (based on various fib projections of recent intraday, multi-day ranges). standard S2 is 1385.25 (and, as is usually the case, .618 extension to downside is virtually the same as S2 at 1385.00, these levels are right in the top of the substantial support from APril and MAY of 06 measured extension lower of exactly the range from yesterday is 1370.50 (doubtful that this gets printed) 3/14/07 24hr low = 1391.25 substantial, strong sideways chart support from April & May of 2006 is 1393.50-1370.25 and this is a likely (though large) area for the current selling to capitulate. The market appears ripe for a rebound, but right now I would still feel better to see a shakeout that prints under 1389. But What do I know I didn't play any longs yesterday morning because I was waiting for a morning test of 1409.25. good trading to all (unless I'm on the other side of your trade)
so damned nice to see this market given the enema it deserves. avalanche commenced yesterday in full effect & was looking for a reaction at dow 12,860/200 day for add on to shorts to 1350/60 but don`t think i`ll be that lucky. every lift from here on out is a gift for shorts.......higher the lift,the bigger the gift. still looking for that historical event in `07 that will rival `29 & `87........& the feds printing pressess are running out of ink & people are running out of confidence with the fed & their pathetic liquidity injections.......that are being completely ignored wich is an enormous sentiment change.perfect storm is out there & forced capitulation is imminent,imo.
see i told you the 1400 had to be hit again. anyway the only reason i even posted my trades and came on this board is i've seen an unhealthy worhsip of a certain individual on this board. this individual has posted not 1 clearing statement and even if he did the worship of him is ridiculous. i've been full time trading 18 years and thats every minute of every day and i've seen 1000 traders come and go. each person on here needs to develop his own style and not look for somebody to do it for you. i seen people hot as a pistol and gone fast. have confidence in your yourself and follow nobody but yourself. take care and good trading
Good morning, all! It looks to me as if ES has just broken above a descending price channel that started yesterday in RTH from a peak of 1445. I am turning bullish here and looking to go long on a pullback. Presently flat. I will consider my analysis wrong if 1399 or lower paints again.