I am not entirely sure what is going on with ES but will say that the low of 852.75, for what many traders are calling a super-channel, must hold. I agree with guava that the down 'traverse' does not have a confirmed P3. In a post a few days ago on the "TS" thread Jack spoke of EOY 'end effects' kicking in after 12/19, the end of options expirations week. IMO, the RTH stuff, on and since then, has the flavor of the overnight Globex. lj
Its really nice that we have our very own echo chamber. No matter how wrong we maybe it seems like we are with the majority
Well. it's my turn now. I believe ES put in a bottom by confirming P3 down with an IBGS and new P1 at 10:05. If so, last up traverse is a go. lj
Spyder and Jack, I would like to express my appreciation for your incredible work and to wish you the best of holiday seasons and the most prosperous of new year. Merry Christmas to everyone on the thread. ThanKs to everyone for their help and advice this year , for me its been a good one, I could not have learnt half of the things I have learnt without the help of all who have contributed to this thread. <img src='http://www.feebleminds-gifs.com/tree-lights.gif'> <img src='http://webdeveloper.com/animations/holiday/christmas/gifs/merryxmas.gif'>
Despite the fact that we were in a lateral carry over from yesterday and volume is pathetic, there were two decent tape trades.
Something that I keep in mind each day is what the previous day's volume/price range was. See the attached table from yesterday. For example, I'm not looking for any 6 point bars today (LOL).