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ES 1-20-09


I will be watching the 28 and 23 levels closely (if we get there). We have a potential Bullish Butterfly in developement.

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thanks for the good wishes...I appreciate it
quote:
Originally posted by prestwickdrive

Bruce - TY for the update on your wife. We are still praying. RE the market, we still have an unfulfilled whatever % from Friday to 15.75.

Next try for me on long side is from the 810 area if it prints...with that 825 being in the center so far it's 15 points below the high....so now that the 'b' pattern is eroding it seems likely that they will extend it in equal amounts off the large volume number of 825 ...so we subtract 15 to get to the 810 area...we'll see.....The close of today is critical and a close down at these levels in theroy should be a bad sign for any chance at longs...we need the late day rally....c'mon folks...hit those buy buttons


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See that nice High volume at the 818 - 819...c'mon.....Not gonna V bottom it are they though? so I expect the retest and then you a-b-c ' folks need to help me out
Price Extensions: 1.618 and 2.000

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Price Extensions: 1.618 and 2.000
seems like the cash really needs close way up above 830........that's gonna take a lot...perhaps a small miracle
yes, Bruce, my feeling is that we continue to the current daily projection of around 783-4 before we get much relief.
quote:
Originally posted by BruceM

Next try for me on long side is from the 810 area if it prints...with that 825 being in the center so far it's 15 points below the high....so now that the 'b' pattern is eroding it seems likely that they will extend it in equal amounts off the large volume number of 825 ...so we subtract 15 to get to the 810 area...we'll see.....The close of today is critical and a close down at these levels in theroy should be a bad sign for any chance at longs...we need the late day rally....c'mon folks...hit those buy buttons



Bruce:

See bold font above. How did you come up with the reasoning to subtract 15?

Thanks in advance.
At that time I had a 'b' profile that was falling apart because we were trading below the lower part of the buldge in the 'b'...I then took the stem to the high volume node of the day session...at that time we had the 825 as the highest volume based on TPO count....so to the RTH high was 15 points 840 minus 825 = 15 points...so I subtracted the 15 points on the downside from the 825...gave a target of 810.......IF that would have held I would of expected trade back into the 825 area and a close near the center......that obviously didn't happen...hope that is clear
quote:
Originally posted by stocksster

quote:
Originally posted by BruceM

Next try for me on long side is from the 810 area if it prints...with that 825 being in the center so far it's 15 points below the high....so now that the 'b' pattern is eroding it seems likely that they will extend it in equal amounts off the large volume number of 825 ...so we subtract 15 to get to the 810 area...we'll see.....The close of today is critical and a close down at these levels in theroy should be a bad sign for any chance at longs...we need the late day rally....c'mon folks...hit those buy buttons



Bruce:

See bold font above. How did you come up with the reasoning to subtract 15?

Thanks in advance.

Cool , KOOL...I'm working on something that points down to 789 so we are close....but mine is based off of MP and longer term...so questionable at best
quote:
Originally posted by koolblue

yes, Bruce, my feeling is that we continue to the current daily projection of around 783-4 before we get much relief.