ES Journal Archive (2006 - 2008)

Only a H&S if corresponding volume is high on the left side of each shoulder and head formation. See Edwards& Magee.

 

If you're still long, it's time to start looking for the EXIT sign.

JJ

 

Staying long, been stopped out enough times today, not that it makes any difference to stay or not to stay long.

 

We should make it to 1451, but I got flat at 48.50.

 

short at 46

 

So far this bounce looks pretty anemic. In daytrading, I would want to see more evidence of accumulation here before buying. Until then, there is resistance at 49 and 53.75.

 

I see 1454-1455 as resistance for an equal length move setup repeating fridays action. We've already had the ~24 point decline repeated, lets see if she turns after a similar 14 point rebound.

 

Wow, that was one helluva recovery!

I don't think it's going to last. I think the lowest will be revisted, but the market most definitely does look like it's bottoming.

JJ

P.S. It's probably days like this that make Saxon22 believe that he has a viable system, er ... not that he doesn't!

 

lookiing to remain long here into the close.....EOD hold....stop just below last active lo.

 

So do I