ES is facing resistance from the 1411.75 downtrend line today so ES could drop all the way down to the 1300 area again. Once ES breaks above the 1411.75 downtrend line then ES is a buy on any pullbacks.
I think if ES does not drop today and continues upwards for the remainder of [...]
Shorting the Euro and Gold have been my priorities this year and this market has played out as I expected. Unfortunately I missed the last great shorting opportunity: the Euro tested the 1.4553 downtrend line and closed with a doji- a good setup and I have a feeling the Euro won’t trade near 1.33 again [...]
My life only gets busier so I don’t know how frequently I’ll be able to post anymore.
ES has dropped below the 1068 uptrend line and is near support around 1338. I think ES will bounce eventually and should at least reach the 1372-1388 range. In particular I’m looking for ES to test the [...]
I have been really busy lately and haven’t been able to trade as much. A few days ago i thought ES would head for 1338.5 after it broke below 1359.25 and it did drop a bit farther to about 1354 but that was it. Now ES has reversed and is still holding above the 108 [...]
After hitting 1359.25 for a second time, ES is now headed to 1338.5.
After making a marginally higher high above 1390, ES trap reversed and has fallen back under 1380. Support is at 1376.25 from the 50 day moving average. ES could reverse there, but if it doesn’t then ES could possibly drop all the way down to the 1365-1370 range. I still think ES will hold in [...]
ES hit 1388.5 and pulled back, max downside from here on out should be 1375 (50 day moving average). ES could now be beginning a move that carries it over 1420. If you aren’t long yet, figure out a way to get long.
ES should get nowhere close to 1359.25 now. If it does [...]
Gold is still trading in a tricky territory near support from the 681 uptrend line. I exited my Gold short a few weeks ago around 1680. I could have got some more profit out of it but I was spooked by the possibility of a big bounce. And I still feel like a big bounce [...]
I’m up early. After breaking below yesterday’s swing low I set an alert for when ES breaks back above 1365 but was a little slow to wake up. If I had to bet on it, I think ES will hold above 1352.5 from here on out and if it does then I believe ES has [...]
ES is gapping up from Friday’s 1365 close and for now it looks like a very strong hold above the 1068 uptrend line. If ES closes around 1373 or higher then ES is a buy tomorrow. But given the candlestick structure over the past 3-4 days this setup is not as good as it could [...]
Twitter Feed
- I swear they ran that up to 1158 just to blow my stop 2011/09/29
- ES is at 1154, moving stop to 1157.75 2011/09/29
- Short ES@1158, stop=1162 2011/09/29
