ES Journal Archive (2011)

71-89 are the highs of the last few days. So you are anticipating a breakout after this 50pt move?

 

half off 48

 

Im not in. But, I like this play. It makes sense inside this range.

 

Bull are still in control of this market short term

1156.25 is the level bulls need to gain and hold short term.

If we see a retest they could easily hold this level, if we do not see a retest more bears will come in.

 

I am looking at sideways to slightly long through the lunch and then most likely down in the afternoon.

 

Bears need to get back below 1132.75 the top of the range where bulls took control from the NYSE issues ($TICK, JINT.Z, JIQT.Z) and also technically took control from an algo/technical analysis perspective.

 

max pain could be inflicted by keep taking this higher push out the next round of bears still holding on.

 

Couldnt break 1151.50, Short @ 1150.50

 

covered @ 1145.50.

 

Looking to get long if we can breach 1152 with a tight stop.