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ES 10-21-08


watching
959.50 IS THE 1 MIN BOLL. AVG... if that breaks lookout below!
Short @ 960.50
Have to admit, i have price proj to 971.75 unless 955.50 is hit again ,but this market is going to have to prove it to me first!
selling here
sold at 962.75 cause i min avg was 963.00, 4 point stop(for now) also had mini pesk at 12:36 or so
dam, going to 5 min boll. avg at 965.25
If that doesnt hold it, then the price proj comes into play... a possibility since 5 min exp avg is (drumroll!)...971.75!
FOR THAT REASON ILL COVER ONE AT 961.00 IF GIVEN THE CHANCE
I have a stop above those singles from earlier. @ 968 markets having some trouble with this 961 sq nine
I am targeting around the 931-935 area, that might be pushing it but its what I came up with.
The other thing we know is that they will break the Monday - Tuesday range...I'm hoping it's to the upside too but may be illogical to expect that since we closed near the lows today and closer to the lower range......We also have a gap down near 933 so that will be an additional target if we are able to get on board to ride out lower prices

Hope you are having a good B-day KOOL!
quote:
Originally posted by koolblue

still of the belief this is a giant tringle on the daily charts that we better hope eventually resloves itself to the upside upon completion or this market will end up complete toast... bottom trend line somewhrer around 880-882? Note how the daily range keeps contracting?