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ES 10-24-08

Well, im quite certain no one believed me yesterday when i said a decline to 852 would not surprise me. Maybe you would be interested in this. I think it time to reveal the longer term price proj. for what its worth. The daily chart price proj. comes in at around 812.50. The weekly also gives 812 and a possible 777.50. The bottom of the cycle starting from 1576 bottoms initially in Jan. 09. The shorter term charts (60 min. etc.) also confirm 812 area and potentially down to 755.25. The worst case scenerio i can find on any of the charts is around 742-748. Whatever happens in the next few days,weeks and months we would be wise to remember these areas,even if not achieved soon, not for 'the bottom' but as potential turning points for decent bounces. Since they come from 'longer term' charts , they should be treated as areas for a trend change not necessarily 'exact' numbers. By the way , ive commented on the closing ticks many times. Nuff said.Also i expected a peak, from the daily charts on thursday. As we seemed to be declining into this time frame, that would simply imply very neg. cycle action. ill bet yesterdays high, or the day befores will certainly look like at least some kind of peak in the fullness of time. I could be completely wrong on everything ,of course, but just wanted to share some thoughts with my friends here on the forum. By the by, on last nights globex chart, the decline from the globex high(917.25) to the first significant pause at 2:40(863), gives a proj. to 775...very close to the 777 number from longer term charts. incidently , limit down during the day sessin would come in around 795 or so i think (not that i expect it to be seen, but since the 'triangle' on the daily charts has broken to the downside, i suppose anything is possible)
+50% IB = 897. Sq 9s @ 886 & 901
894 area, then 903 ish...but who knows!
c=a at 892.25
order to buy one at 874.00,3.5 stop
15min. RSI/price divergence
@$!@$ 1 min boll avg 864.34, 54 exp avg is 862.10
one freakin tick!...again~... order cancelled...watching
that really fries me, i swear ill get em back for that! Going out for coffee.back in 20 min.
best fill is 83.50..I had a minor number there..last contract will either get 893 or get stopped at 72.50..big volume divergence
Originally posted by BruceM

best so far is is the 70 and then the new high..if it flips over I will be stopped at 55.25 on runners

You da MAN, Bruce ..great trade. fwiw, one min proj. is around 870 and thats also where the 15 min boll lies(870.25)
Originally posted by prestwickdrive

Originally posted by prestwickdrive

+50% IB = 897. Sq 9s @ 886 & 901

897 top so far

great call PWD. I also like to confirm areas either by pattern,
other #s i.e. so9, volume, and projections. The more I confirm
the better.
Thanks for your input