Discussion in 'Index Futures' started by The Answer, May 7, 2003.
Will ES trade below 900 before it trades 940?
lots of people.the latest II report has 55% bullish. that level has ment short term top in past. we will see.
Supposedly there's a lot of bullishness. I can not find a single person who is bullish. I have asked a lot of people. This worries me. Who are the bulls out there?
I have a large SMH put position on now.
bush's henchman....once the administration has run out of money to prop up the market for his election the bottom is gonna fall out
940 is "A" level, not THE level. More important are 960, the big H&S neckline, and 972... the 50% fib retracement [and potentially false break of 960 neck].
940 could be the topper, but if it breaks it was always a lesser resistance anyway. If 960 were to break and hold, that really WOULD be something.
That's cuz you only know the smartest, most prescient of traders.
The market's profile has clearly changed the past several sessions. Better for traders at least. Mid day moves with actual follow through ect. Granted yesterday was the Fed but today the movement was certainly a step up from the usual malaise. Makes me think there is two very opinionated camps out there. Both willing to chase prices to bet size.
How about a few more poll respondants.
Most of the guys I work with intraday are BRILLIANT. MUCH MUCH smarter than me. My only skill is taking a few dozen opinions, and maybe 50 more from various columnists I respect and trying to look for material that makes sense and fits within my world view (formulated from the same people's opinions).
Yet, out of about 100 writers/traders/friends, I have only one who is bullish. Usually, at least a few will be faked out. Only Kudlow and Cramer are bullish. Those 2 aren't slouches, and they make very good arguements to be long. Who else is long though? Where's the retail interest?
Separate names with a comma.