ES Journal Archive (2009 - 2010)

flipping long at 89.75, small, stop under 87.25, target, eod if we get a rip up.

 

This is kind of surprising. Volume has been way stronger on the downside but price action is so sideways.

 

This does not look like a stepdown day to me--it looks like a rangebound outside day.

Intraday, I see no reason to buy unless price vaults above and stays above the previous day's low of 893.50 and the volume-weighed average price, which so far has proven to be strong resistance,

 

If we can get one more long red candle on the 5-minute, the rest should be history.

 

Can someone please pull the plug on this mofo..this is getting ridiculous

 

It is exact repeat of yesterday.

Defend below previous day low.

Tried to pop it up above that.

If successful, short squeeze will do the rest.

 

Everything saying up from here. Can we even get to pivot though?

 

The question is, can they do it back to back using the same trick?

 

There have got to be a lot of stops at the high of this congestion. Chances are those alone will be able to make a bigger move than yesterdays weak ass pop.

 

PP would appear more likely than new lows for the day--bet accordingly.