i`m done for the day..... i will wait and see if they pump up the futures like usual at about 3 am in the morning and i will short (15) contracts on the ym for a nice play taking advantage of that pattern---------i see the market selling off tomorrow and friday.
Today is actually quite unbelievable........ http://www.charthub.com/images/2007/01/03/ES_317_VB_6.png
Great LONG signal just above the major 1416.25 MP level....... http://www.charthub.com/images/2007/01/03/ES_317_VB_7.png That was a good LONG entry location as the days overall cumulative delta was in a divergence too................ http://www.charthub.com/images/2007/01/03/ESTradeChart.png
Yes I would have been shocked if the 1416's had been blown out today also....that is a strong MP level that has held several times so far. ....maybe tomorrow?
This may have been addressed already, but (a) YM and ES dropped a lot in the final few minutes on Dec 29 (b) Europe was up big on the morning of Jan 2. So the YM futures were up appropriately, and were traded until early in the morning before trading was suspended for the day in memory of President Ford. When are they up by that much during normal trading hours? Jan 3 last year, ES rose around 20 points late in the session, after the FOMC minutes.
A-B-C Patterns shaping up nicely on the indices----will be confirmed by asia selling tonight-and thursday/friday`s selling in the us markets ahead and after the payroll numbers------we have higher inflation, slower growth, terrible geo-political conditions--making us pay 15 dollars more for a barrel of oil than we should by demand forces, housing will stair-step down, autos suck, congress will hurt big business, commodities are bubble collapsing, equities next asset class bubble burst with this recession coming. Oil companies are getting hit from both ends, higher inflated costs with getting the stuff out of the ground, and lower demand for their product. They are going to have to start giving this stuff away if this slow growth continues What`s not to love in a short right now, or a put, or being a bear.....keep buying those dips longs so i can keep reinvesting my profits for more downside ammo
Great entry signal near the close........ http://www.charthub.com/images/2007/01/04/ES_317_VB.png and then good selling follow through in the overnight action....... http://www.charthub.com/images/2007/01/04/ES_317_VB_2.png Flat again....will wait for the cash open to take signals again.