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March 22 globex, March 23


1162.75 close should be the globex high. It could take to 1163.25 and possibly 1165.00, but the 1162.75 is the preferred number.

1155.25-1154.25 will hit. I'm taking all my positions of here. This should hit before or on the 8/9 cst bar of March 23 Tuesday.

Then it should take off up and past 1165.50. This is the ideal scenario.

The 1147/1146 hit and it went up, perfect scenario and trade, but the last part did not occur....1141/1140 should have happened after 1160.25 hit and latest 1163.25 hit with the drop in the aft. But did not.

Good trading
The ideal scenario did not pan out, but the probability was low as it did not hit on the 9cst bar.

1161.50/1162.75 were important numbers and the close at 1163.25 was where I went long. I knew it would bust past 1165.50 as mentioned yesterday, but at what price was the issue.

If you divided your chart into 70.30,62.50,50,37.50,29.70 you will see the 1160 area was tested twice, once on the 8 cst bar and then on the 10 cst bar but no close below 1059.75.

Your are guaranteed the 70.30 retracement from a high and 29.70 retracement from a low. These work wonderful on a daily chart along with 62.50 and 37.50.

Now April 16, May 19 and August 10 2010 are the dates. The ES should move towards 1200-1220 (my high is 1211.75 or 1218.75).

Its alwasy easier to trade of a daily chart. This daytrading is my ego stuff, sort of an addiction. Only daytrade on ES...

It may gap up 5-7 points when it opens at 4:30 Est ( no guarantees) and a rapid move to 1200 may develop.Cup and handle pattern on the daily charts for the indices with TF leading the way.

1126.25 is the key on ES and 10364 on YM.

11339 is YM 62.50 number.

Now we wait and see the "set up" as all should come in syn with the US index the key driver and gold, silver with the indices tagging along.

See how all is in sync come April 16 or May 19 and August 10, 2010.

In 2008 the BP busted down on August 11, 2008 after a nice nsc. Its been making an nsc for a while and the Euro has developed one too, not as long. BP and euro similar pattern. CAD, AUD and Swiss Franc similar.

Yen by itself.

$1182/1185 is a key price in gold and those dates above are important.

$1227.40 is the high on Dec 2, 2009. My low for gold is $640-614 and silver $8-9. If gold goes above $1227.40 then I could be wrong. The US index should get to 95 by April or June 2011 after a retest of 77 area.


Good trading