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ES 03-22-2011


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onprofile03222011
took short 1293.50
stop loss 4
target 4
Originally posted by koolblue

good morning! im with you Bruce!.. just sold 1294.00 ,charts and reasoning in a minute!
...looking for the 1.618(initial move from 1296.50 to 1291.25) at 1288, will likely exit at 1289.25
Hour range is in....i need to see this get below the OR low to take something off...otherwise I will probably be stopped and the Hour highs will be run out
took two at 92 print...only holding two...risky time and so far no volume is present to really move it away from 93.75 magnet
flat at 93...
just don't like how they are holding that OR low...and also a reason I just go market when my areas hit...could break hour highs now if they can resolve the 93.75 volume..standing aside
i agree new highs are always possible , but there are some subtle reasons why today could be a 'turnaround' Tues!... First, NAS is lagging the s&p on the rally up , and is now leading on the way down. There are some measures i watch like cumulative ticks that are getting very overbought!...
Originally posted by koolblue

i agree new highs are always possible , but there are some subtle reasons why today could be a 'turnaround' Tues!... First, NAS is lagging the s&p on the rally up , and is now leading on the way down. There are some measures i watch like cumulative ticks that are getting very overbought!...

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sp500

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mean reversion model5735image004
The 1299 area seems very important to me as it is a bear trendline.. also the study i showed 2 days ago calling for higher prices for a day or two, then a decline!
taking one off here...1291.50..holding the runner with b.e. stop
Originally posted by koolblue

once again caution is the watchword! as the charts are mildly negative,but we just had nice pos. divergencies at the last low!...
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1512

bingo!(within one tick... this is the important dividing line imho!... if 1283 doesnt hold then down we go, otherwise bulls still have hope here!