ES Journal Archive (2009 - 2010)

Wednesday's close was 1214 ... never saw that in RTH yesterday. Yesterday's close was 10.50 ... I believe that is the 2nd gap he's referring to.

Good trading.

 

good long setup here with a tight stop good trading.

 

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3009566>

 

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3009571>

 

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3009574>

 

Yes, but it was closed, they were left just 2-3 tick. Gap like this one can be considered closed. Moreover at SPY it is closed completely and thats what is important. For all practical purpose there was not any "magnetical" gap above us.

 

I don't mean to argue but the SPX cash gap left unfilled was a full 3 points, and the Dow's was 30.

We can agree to disagree.

 

There are so many SPX gaps bellow us that it is impossible apply this rule to it.
Where it works best is SPY.

 

QE2 in action $6 - $8 billion

starts at 10:15 AM and ends at 11:00 AM today

 

SPX gap holds more weight than ES.


I think if we hold 1202-1204 cash then we can rally to fill the gap above at 1213 spx and then take a shot at 1218.