probably a stupid question but I'm learning... If the bailout was denied the other day and the market dropped than how come when the bailout was passed a little while ago the es went down 10 points or so? I understand that the bailout passing was already priced in the market but logically I thought the es would stay put or rise a little at least from anyone covering their shorts who might have been waiting for the unexpected. Bear with me I'm sure theres a simple explanation. Thanks
The senate voted yes to the new proposal that the house has yet to approve. Two separate branches in the government. Daniel
1181.00 will need to be hit or I will need to get a longer term buy signal before I will start cautiously looking long. Right now, I continue to look short as I have all week. I still believe that there is a strong possibility of an 1100 test in the near future. As I have said before, I don't think 800 to 900 is out of the question.
Buy1Sell2, Iâm also looking for long signals once the market crosses the 81 level. I consider 81-83 to be the base of the Market Profile three day value area selling tail. Are you using a similar methodology to determine your directional bias?
No. I just consider this to be a resistance area on a longer term (as it relates to intraday) chart. Anything that I do is based upon the method that I have outlined in this journal. I want to have my own way of defining trend and areas etc, so that I have a better understanding of what's happening.
/L 1144.75 stp ylod 9:48 exit 1/2 1147.75 +3 Stop to BE I think its going to 1133, hoping for a good bounce b4