ES Journal Archive (2011)

spx market profile

 

*Sen Reid: Has 'Signed Off On Debt Deal' Pending Caucus Approval

*US Rep Schrader:Most Blue Dog Democrats Likely To Support Final Debt Ceiling Compromise

Looks like a vote later tonight...gonna be an interesting open for sure

edit: now they're saying no votes tonight, progressive caucus in house will vote it down

edit #2:

*WSJ: Deal Calls For Votes On Balanced Budget Constitutional Amendment

*WSJ: Debt Ceiling Increases Total $2.4T Increase In Three Stages-Sources

*WSJ: Congress Would Create Committee To Recommend Deficit Cuts Sources

*WSJ: If Committee Fails To Act, Automatic Trigger Would Produce $1.2T In Cuts-Sources

Wow, that seems like a major cave by the democrats, I guess they think they can get enough moderate dems and repubs in the house with that

 

failure to reach agreement by deadline triggers an automatic 1.2 tril in cuts

 

I don't move to BE as soon as I'm in profit. I dont move unless I see it move up and settle into a bottom above my position

 

There has been so much back n forth terminology over the weekend. I follow on twitter and every 5 min its, no debt ceiling agreement , now we agree vote tonight, no vote tonight, maybe vote tonight, we agree, ok this morning vote, no agreement, we think it will pass, no downgrade , downgrade likely, ect. I'm about to shut the news down for the whole damn week and just watch the price lol. Which is what I normally do anyhow. Now I remember why I hate the news.

 

Here we go 1305 open . Fasten seat belt folks

 

Short @ 1304. Stop @ 1308.

Target is open, but betting that 1300 will be breached.

 

Finding support @ 1302? Crash already

 

Broke out to the upside on a triangle formation that turned out to be a nice little up trend towards my stop

I might have been wrong on this one, but "just in case", I moved my stop to 1308,50.

 

Dems have to cave or they give up 1.2 in chainsaw cuts against their most sacred cows.