ES Journal Archive (2009 - 2010)

Will use NQ and YM as leading indicators today.

NQ has a gap down there that never filled.

With a 20 pt gap, it is hard to figure out where to short at all in the first 15 - 30 mins, even if you are bearish.

Only level I am watching is 800-815 area in the morning.

 

If we fail to hold here, then we will move to a 750 to 900 range til mid March.

 

Chasing is the worst thing to do. If this is to be a trend down day it will show with the shallow retracements of usually less than 7 points up and then back to the trend.

 

808.75 short

 

Translation:



Buy the low



Sell the high




Repeat over and over





Walk away at the top.

 

Amateurs open the market



Pros close it.

 

sh 12, add 14 sh term spy 81.80 and djt 3001 res

 

shorting 14-16, stop over 18.75, target ?

 

exit 12, obama risk control.

 

What time?