ES Journal Archive (2006 - 2008)

Thursday, December 18, 2008 Exp Prev
ET/GMT
0830/1330 Dec 13 Jobless Claims
Weekly Jobless Claims 550K 573K
Weekly Jobless Claims Net
Change -23K +58K

 

The ascending triangle comes from a drop, not a run up. You showed the chart too. So a break out of the top of that triangle can simply means that it turns into a huge ledge topping around 938-948 area

A break of the support trendline, however, implies down trend continuation.

So to me the bullish case (daily swing) is good for at most 20 pts up and then another down move.

 

If 903 pivot holds than that would bring us to 926 area and that would be the 61% daily pivot.

 

In case anyone interested,

- yesterday was tight range day at 23.75 pts, breakout direction would be important
- VWAP of yesterday = Pivot today at 905-906 area
- R1 (RTH only) at 916
- S1 (RTH only) at 892.25

Edit: Key point to the direction of today is whether ES holds the 905-906 area in the 1st 1/2 hr after open.

 

getting long 04-03, stop under 98, target 914

 

Looks like 903.75 is close enough!

 

thanks. startraitor
welcome
tequila

 

$djt broke back below its supp line , daily 3433,and back down we go

 

S1 92 in play now.

 

Agree.
893 first support, then 882, 865

Resistance - solid band from 909 to 914, but if overcome ES can rally as high as 939 today