It could, I am currently set-up both ways, I believe daily shows enough signs for a decline, question of timing though, hence betting smaller size so far, but ready to take long above 1343.25 for a quick buck (hopefully).
http://www.charthub.com/images/2006/09/26/ES_317_VB_13.png There trying to squeeze us shorties out.....
ER2 and NQ trendline breakout, YM/ES holding. Watching to take pullbacks if trendline in YM breaks. SOX reversal, looking for pullback and break through 33.90. Already closed my long on ER2. looking for possible pullbacks.
Well last 1/3'rd out at B/E.......... http://www.charthub.com/images/2006/09/26/ES_317_VB_14.png turkey's!
Dam, right at the reversal, that always happens to me. ER2 sold off pretty hard. on the ES 1343 touch. I see ascending trendline. Strong resistance above. SOX will have to go to 34 for breakout.
OK......I keep swinging at all these pitches (very active day...I like this)........... http://www.charthub.com/images/2006/09/26/ES_317_VB_15.png My lunch is sitting here all cold....I have not even touched it yet :eek: