ES Journal Archive (2006 - 2008)

Another view:


11:12 TECHX Market View: New bounce high for S&P but... -Update-

The gap down start for the index stalled slightly above support at the 38% retracement of the Nov/Dec recovery rally at 850 (session low 851.35). The recent upside extension has filled the gap on the daily chart (yesterday's low 868, today's high 872) and brought into play short term resistances at 872/873 (38% retrace off yesterday's high/unchanged) and 875/876 (intraday moving averages, 20 day exp). How the index responds to these initial zones will provided an indication of the underlying strength of the rebound (click for chart).

 

Sell zone is upper 70's-low 80's.

Wish it were the temperature!

 

I read somewhere about the ES that it always go up on friday lately.

What would happen today?

Edit: we are still testing those trendlines from below.

 

Strong market - another pullback, new trend line and another push up.

884 is next resistance with R1 at 897

Would consider shorting at about 884

Support at S1 - 861

 

buy 868.50

 

Will it hold at 861 or break down?

Trendline not penetrated but momentum oscillator dipped below zero line.

 

VWAP area hold for the whole day, including the last drop.

 

VWAP stands at 65 now.

If it is breached by more than 4-5 pts this time, trend sell to close.

 

I think the bears are going to try to take it down during next 30 minutes

 

Humans vs bots

Edit: robot buying continues ...