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ES 09-25-08


I still smell a rally to the upside.
next major resistance i have marked is 1224 and then 1228
On the shorter term, we could be seeing an ending diagonal up on the 5 min. chart for the move from 1188. If so a decent decline could occur(dissapointment bout no deal today?) If that happens its just more chances to buy in my opinion.Remember the bigger picture. Intermediate term bottom ,housing starts down 12% and were up 230 dow points! Thats telling me something! Margie,Iam expecting a several week rally of course, but the way i am going to play my options is when the blastoff happens (sometime between today and mon. open) ill unload them. Im just so short term orientated i cant help myself. Plus i hate the time decay of options any way. However if you decide to hang on, every thing isaid in the market analysis remains my opinion!
notice how light the selling is now

edit - poc currently at 1214, makes for another bullish case tomorrow
Typical behavior for triangles or diagonals,Pop
Kool, I like to sleep at night.
Short term for me works better.
only S&p 500 is making new highs.. dow and nasdaq are lagging..

may be a short signal for couple of pts

quote:
Originally posted by Akola

only S&p 500 is making new highs.. dow and nasdaq are lagging..

may be a short signal for couple of pts





either it jets up unexpectedly to 1224 or it kind slumps back slowly to 1214
Just have faith,Margie cause the market is really expecting a deal today! Not sure if there going to get it tho.Even if we were to crash back to 1185 or so , trust me its coming! and soon!
Kool your information is priceless.
Half out at 93 +19 on those...SL on rest at 1210, next target is 1174.