Glub, glub, glub...

We're going down here and I was just wondering how long I should hold my breath?

1 day
1 week
1 month
1 quarter
1 year
more?

Maybe I should invest in a rebreather and an E cylinder of O2.

 

It has looked very sick but there have been some excellent saves this week.

 

Well, we're firmly back in the middle of a trading range that continues to crawl UP THE CHANNEL. The question is what about next week as we're fence sitting in a range AGAIN.

 

glub.....

 

U.S. shares seen edging higher, all eyes on Fed
Mon Mar 27, 2006 4:57 AM ET

FRANKFURT, March 27 (Reuters) - Shares on Wall Street were expected to open firmer on Monday with all eyes on the U.S. Federal Reserve's interest rate decision after a two-day monetary policy meeting, which ends on Tuesday.

I think I'm going to collect news snippets as contrarian indicators.

Any body interested in starting that thread?

A friend who has made ALOT of money in the market only goes short, the rest of the time he just watches. He has supreme patience. Rate of return c/w time in market (risk adjusted ROR) very good as the rest of the time his money is parked.

 

Here's a chart of todays action in the S & P Futures. Of note we bounced on low volume in the am to resistance and based on the time of day this was the set-up for "The Waterfall." That is pre-news, low vol walk up into resistance at lunchtime, then a gradual loss of upside volume as traders skimmed off the top. Lower highs into the trigger in this case FOMC. The pattern is solid.

 

ES....5 minute chart....today....03-28-06. Taking a big dive today.

 

Here is a weekly chart of the ES. Should find out soon if the support levels holds.

 

THANKS for the charts. I hope you were long today "out of the box"

 

duard,

I am really a scalper....but I will also take Trend moves when I see them. Here is another chart today....03-29-06. I am done for the day. Met my net daily goal....stopped trading.

VSTscalper