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ES- 09-26-08

Ugly open coming.I still believe a intermediate term bottom is forming the last several days. And i would still be very careful trading position trades or puts here.Remember there is strong support 1172-77.
Hey, Pop, that was an excellant call u made on the gap fill by 11! Note the 10:50 cycle peak i called for was from the 5 min. chart. That means the 5 min 10:50 bar.Off BY ONLY ONE BAR! The 1 min. chart had it at 10:57 and it hit at 10:56. Amazing.Take note i tried a long in this area(against the cycle cause my 5 min. stoch had plenty of upside left and was stopped out!(paid the price)LOL
Looks like the pop fizzled stopped out -4points, I am short again at 1196.75. Ticks look like there going to break down.
back from lunch... Yeah Joe. sideways action from 11:40 due the boyz hanging around the 5 min. avg at 1196. the boyz in the pits are afraid to go too far either way right now till the get more clues bout a bailout today or the weekend.
Kool, could it be a large cycle starting on the 15 minute that hasn't finished yet?
buying a scalp at 1183.50
long one at 83.5(hit as i was typing!)lookin for 1186.00
out at 1186(the avg again!)..up 6 today
Joe , fairly decent low might hit around 12:45 , give or take
Margie, its possible, overall this market wants to go higher, but it wont till a bailout deal is done(hence the sideways action around the avg.(1196)
Margie, on the fifteen min. chart note the nice rounded upside down bowl forming from the 8:45 bar? those are the ones i love the best! it could finish on the 12:30to 12:45 bar or so.If so, could be a decent rally comming
Wow what an end to the day!

Joe, you are welcome & thank you for sharing your knowledge here.