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Out of Steam?

Out of steam? Thats what I'm counting on, Short from around 1278.75 looking for 1250is levels. I've got some major resistance 1279-1282 plus the market hiting some old tops from 07/09.....
I don't know. Just watch it above 1283.25 a move above that would not be good
ES never made it to 83.25 it traded 2 ticks above todays 1st hours range and then fell. down 22.5 points from the high yesterday so far. What I am looking for now is any indication of the longer term bullish traders stepping in or follow through selling till about 1:00 friday....
Now 3 min into the last 30 bracket of the day, something has defenitly changed in the last 24hours...Targeting the 1261 range.....
WOW..7 point range extension and still heading south this late in the day, while we were at new highs for the day @ 13:00...
Believe it or not the entire movement from 1200 is one ascending triangle leg. We should thrust on the fifth wave to atleast 1320 from here. I've a limit at ES 1263.25 just waiting for my channel to be hit.
Yes, it's a very clear wedge or pennant, problem is if the market spends too much time at a given level like 1285-90ish, it will ultimatley be rejected. If the upside 1291 is not broken soon and hard the lows will be tested to see whats below 1200..... the bulls seem to lack conviction, seems all they can do is just keep it from going lower. Higher highs are not being made, and time is running out this is the 16th day since the lows @ 1200 instead of the markets going higher there just treding water wasting precious energy.
Looks like sellers are out of steam...2 very large impulse bars on the 30min, this is the largest IB we have had in weeks...good call SPQR I am long from 72 and 74
10 PTS in 10 Min thats good enough for me...out @ 81.75 ahead of that 83.50, longer term traders will go the way of the impulse..good luck..
Thanks for the words of encouragement, Joe. Sin or no I am covetous of my money; I try not to lose any of it. ;)

Safe play getting out too. It could go either way from here but the A/D ratio still has buyers in control 2 1/2 to 1. I think what we're seeing is a classic "sushi roll" reversal setup; i.e., took out previous low, aim to take out the high, and hit him hard below the belt.

DJ & S&P bank indexes don't look as good as their counterparts. I'll be looking to cover at around 91ish likely.
Joe/SPQR: Did you have a gap @ 3am EST of the overnite session?
What a great run i love this "bear" market...51.5 ES pts in a day and a 1/2. Markets hit a bumb @ 1313.5 right above the Wpivot and 1315 Is major Sq of nine, and 1307 is a monthly pivot with a very nice doji and weaking MP today, filling in singles from today at the 12:00 bar and 11:30 bar. After going long for so long its tuff to pull the trigger at times and step in front of the bull train, but once again proved worth it.
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