ES 8-21-08

That is no bull 4th wave. I think it's the 5th wave of the bear hell-bent on reaching 54, and winning it. The bull baseline is toast, but they began to form another. I want to see the action at 68 before I make a decision. If 68 is lost there's nothing in the way of bears. In fact I do believe this 5th wave is trying to throw-over 57, its own channel. If so a measured .618 correction of the entire run to 1243 seems likely. Which at the end of it will either be the beginning of a bonifide bull 3rd impulse to correct 1441 or the continuation of the bear market.

wow, too slow to act at my 1273.50! projection (1 min. was to 1266.25) ugh. Woulda , coulda, shoulda!

Tempted to scalp long down here but were in no mans land... watching

Waiting for 1264 to come back...

Looks like a typical buy below value and sell above value day until we gat a range extension. So far we have three days of overlapping value.

Very symmetrical looking day so far!

A spike down to 1264 area gives me a very short ter long scalp... comments?

I would long for a scalp at 64.5 and probly add some more at 63....

this 1268 fulcrum has been like a magnet for 2 and a half days now. Interesting....Thanks,Joe

Has to happen in the next 20 min. tho for me to pull the trigger.

scalping short 1269.75. 2 this time

Thanks RED..you are on top of it........we have some single near 90 too....93.75 is last months high so that is a good zone up top,,,,,

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Originally posted by redsixspeed

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Originally posted by BruceM

don't like the shorts up here today..all markets above high volume bars....no trade under first minute lows today so that is first sign for me that two sided traded is not happening as much as it should.....trying to fiqure out when they will get 82 area

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Bruce; We have an untested value area above us @ 80.25 to 1302.75
& naked POC @ 1293.25 correct

or am I behind the

?

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