ES Journal Archive (2006 - 2008)

looks like we will be jumping around all over the place until the 10 o'clock numbers are released.

 

depending on those housing numbers we could get another hard rally.

 

We're retesting the trendline that I mentioned yesterday. If this breaks, I fear 1245 will be an undeniable reality.

 

here comes another build up for a sell off, ADVANCING PHASE CAME TO A END AT 1270.00 the last of the TOP AREA, now we aggressively enter the DECLINING PHASE (the breakdown will occur in the 1250.00 are) reaching for a target of 1216.50 and lower for these big swinging B===)'s to be happy and resume the down trend!

 

Some of the road blocks along the way lurk at 1252.50, 1250, 1247.50 and 1245. For those who are intuitive might see a pattern developing here.

 

#s are known beforehand - when there is no gap up this morning, the #s are bad

 

Just bounced off 1252.50. From here, look for a 1-step-foward, 2-steps-back type of action.

 

Previous day low touched

 

Covered short and now long from 1245.5

 

The gap is now closed for good.