ES Journal Archive (2006 - 2008)

ES @ 865.25 is inplay.

 

Damn, they are following my plan!! PPT: Pekelo's Perfect Timeline

Let's see where we are now:

1. Rally to the SMA, done by Tuesday: check (overshot)
2. Bounce back from SMA: check
3. Down to 950-920: underway (reached 966)

P.S.: I thought the bounce to be around 1040 (posted) and the SPX topped at 1044

 

long spy 96.50 tight stop

 

out 96.85

 

econ news 4 minutes....biz inventories

 

long spy 96.34 tight stop. reverse at s1

 

out 96.50 lots of air below s1

 

right now the "CASH" is leading the decline in ES.

 

My gut tells me 940 today but who knows.

 

Liquidation in the underlying continues.

Unless we see papers step in to buy here, we probably have to wait for low 800 for a better bottom.