Hey Caddy, Wow thanks , you should be a lawyer. No need to defend me though, Fadertrader is right. It's easy, so easy that I'm turning over tomorrows Market calling chores to him. I've been posting the calls between 1:30 and 2:30, so he can do the same. Just call the Dow like I have, no problem. I'm going to pm my call at 1:15 pm to the author of this thread, a guy I joke around with but really think he's probably one of the better traders here, volente00. You can post my call after FaderTrader posts his. In the name of full disclosure these calls I'm making are heavily influenced by the timing service I use. See you in the school yard tomorrow Fader (theme song from GooD,Bad, the Ugly playing in background). ...Rennick "Blondie" out
So far not one person has come up with the correct answer. I used to be able to link a nice chart but now for some reason it will not work. Maybe this will work.
volente, i made 3 quick trades on ES today, all short, but only two were profitable. i usually trade in the direction of the larger trend, but today i didn't do that. my earlier post is regarding my perception of the overall health of the market. the breadth was poor given the new highs today. my expereince is that if breadth doesn't improve the high can not be sustained. overall, i think we are in an uptrend more long term, but i see intermmediate weakness...unless internals improve quickly.
That is correct but not what I see in the chart that catches my eye. Last time I saw this it went from 1255 to 1294. This time, I predict 1295 to 1335 on the move.