ES Journal Archive (2006 - 2008)

Playing with predictions, I like it

IF, we keep going up until end of coming Friday, even just mildly, then we crash down hard from there. An air pocket style run up will be extremely overbought, compound with the effect of quarterly option expiration, new low is not out of the question.

That is one scenario I have more confidence in.

On the other hand, if we sell mildly into friday, then I have no clue what may happen next.

 

Weekly chart of ES is still very bearish and points out the need for a wide stop in such an oversold condition.

 

long spy for a scalp 85.95 stop low of day.

 

out 86.15 looks like bears in control. sixty minute chart very bearish.

 

5% day dip.
long 1 @ 850.5 for countertrend scalp
stop 846.0, target 852+

 

Missed exit
out 851.5

Nicer exit soon followed, like 12 seconds but, such is life...

 

9/29 and 11/4 hi's tl is 854, next supp 11/4 and 11/14 highs tl is 800 ish

 

Pek, fit your SDD today?

 

long spy 85.15 stop .50

 

RTH S1 from before holiday is 53.25
RTH S2 is 20.50

Since 53.25 is showing significance, we may be on our way to 20 today. :eek: