ES Journal Archive (2009 - 2010)

1167 or 1142 first?

=)

 

LC, is there any significance to the fact that EUR/USD is making new highs, but ES so has hasn't been able to. Plus NQ is underperforming.

tx

 

Previous week high acting as support.

Likely expand the range to next weekly target level.

 

I forsee a stop run on 1145 by Thursday.

 

ES is more a currency proxy now comparing to NQ.

That's why it is holding up above previous week high so far.

There is a strong magnet at 52 (PP) that is likely to tag today though as NQ need to retest previous week close now.

 

Didn't NQ go below previous week's close on Monday? (I know because I got blasted by the move)

 

NQ tested previous week high today and failed.

Hence "retest"

 

That is more likely now than an hour ago.

 

Can someone tell me why 1200 isn't a done deal in the es since those in charge continue to weaken the dollar

 

Not just U.S. gov wanted QE.

There are also UK, Euro zone, Japan, etc.

The race/battle/war to sink their currencies faster than the others is still going on.

So far US is leading =P