It ain't going to 1040 without some HUGE bounces along the way. That's all it needs to do to give me my money assuming I time my entries relatively well. Im just trading to my beliefs about how the ES HAS to move. No stops. My stop is my account balance. It would take something unthinkable to wipe me out what with my account balance compared to my trading stakes. It's gonna keep going up in the LONG TERM. it HAS too.
they ran up and found the sellers yesterday morning(63), then down to the cleavage for intermediate support(52-53),rallied up this morn found lower sellers below the nip ,should retest the cleavage , should look to lower nip(43) for buyers, there is a ledge @(48)
Looks to me 3 days of consolidation and now going higher.... Edit: possible gekko pattern forming... Edit 2: Just remembered, this is a long weekend, which is bullish most of the time..
amazing how folks still HAVE to fight a wall of worry and phony fundamentals while "trying" to short. No respectable shorts allowed. Only small "fakes". Doom and gloomers from 666 looking to retest may well sit on the sidelines for a re-test of 1040. I trade what I see each day and this summer has been tough...but when I allow myself a short bias, I add to the journal losing trades based on "logic" and "technicals". No worries, trade what is in front of you with a long bias and see if that changes anything.
Last print 1159.50. What a ridiculous session. I think that the US community of fund managers has TOTALLY lost its mind !
Now that you mentioned, I looked at the 10 days chart and sure enough, there is something on it. The SPX is kind of ugly, but the NDX is nice and symmetric, so here is the math for the NDX: Height was ~67 pts Failure at 1992 3rd top: 1992+67= 2060ish (cash) For SPX it is 1152+26= 1176 (it seems to be high, but that is what the math says)