What a lame market. Data indicated we should have got a better move but we haven't. Going to stay long unless it breaks 54.00 or if it goes above 58.50 I will have hit my 5 point target and I will be out.
I believe we are about finished with this correction and more upside is in store, more than likely until Noon.
Completely wrong on that call. Couldn't get back above 0830 and instead of 0830 turning the market it was the turning point for the continuance.
So do you still believe we have topped on the daily? A few posts back you mentioned until late July, I felt the continuation call you made this morning was not in line with the daily.
I didn't see a change in trend in the ES today from yesterdays Lows at 1330/1400. It's how they went about it. Crude was straightforward with a reversal at 1000. On the ES Daily 7/15 is going to end up being what appears to be a red bar reversal back to the upside. Here is the Crude chart for today. Looking like we go up until the 28th on the ES.
ES is messy once again. You better be sharp and know what you're doing to trade it today. I've written an equation to make this chart easier to use instead of just visually seeing the swings or changes in trend. With the new equation I have the swings at 0530 0800 0900 1030 1230 1500.
The bump up after 1030 involved a Q, it wasn't going above 68.50, you wanted to stay short. 0900 was your Low 1030 a pathetic High and now our 1230 Low. Another Q is involved at 1330 so they could take it down more but I wouldn't think much more. Not an easy day with these kind of swings.
They sold that 1330 Q...gave back my profits for the day. Did not expect that to happen. I still have 1500 as a High. It may just overlap the 1230 Low.