ES Journal Archive (2006 - 2008)

You know what that means.......

A day late and a $ short



Nice call nonetheless, I hope you were able to jump back in.

 

heeeaaavvvvyyyyyy

 

11-01-07 07:46 AM

1506, then 1485.


I wonder why we bounced hard off 1485.

 

....holding 92.5 ... means .... target is now 1398.75 ES

 

A nice buying opportunity setting up here.

 

MA's crossed on 240 minute.

 

It's a 50% retracement from August lows (1385) to most recent highs (1586.75). That is from the ES; I prefer SPX for calculations.

 

that 1385 lo was on 8/16 & a likely inflection point for a pop was the major reason for 1/2 cover as well as needing to lock in some gains on a possible intraday capitulation move.

85 = 50%

 

sure looks like a massive double top on daily.. forebodes long term bear progressive pattern going into early next year.

 

I also think we get that 1000 point crash Spooz mentioned.