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ES 11-25-08

daily: 1073 / 736.25
60m: 910.75, 899.50
15m: 916, 884
5m: 875.50,

need to retrace a bit before we get any downside projections
bout time you rolled out of bed!
ill sell 850.00 ,looks like a good short zone
lots of mov avgs at 852-3 and that fits better with the 5 min proj we just got to around 852.75-3
50.50 is 50% retrace from 58H
interesting... the only bother is i think the 'high' today is the next hourly bar (1:30-2:30), but since we haven't touched 837 yet ill bite
1 min avg is 848.50, so it may take a little work.
If one is to look at vol. vix & trin market should move down as day goes on. NySE vol to upside by just 85,000 while NAS is 458,000 more to downside. Trins are 108 & 185 both VIX's are in the 60's.
thanks jack
thx, Jack
Thanks VO. I haven't been working with Kool's cycle projection tool much and was experimenting this PM. I was using the cycle highs and lows and using 1.618 from the end of the cycle. In my notes I had Kool saying to use 2.618 from the beginning of the cycle. Using the 1.618 I had a cycle H to L of 17.5 when fibbed by 1.612 gave me a 28.25 point expectation which added to the cycle low of 833.5 gave me a 61.75 target. For that second cycle projection that negated I had 61.5 - 47.25 = 14.25 * 1.618 = 23 + 847.5 (cycle low)= 870.5 target. That's the one that didn't hit at the end of the session. Maybe I am oversimplifying it.