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ES 11-20-08

here we go!
crude @ LOD
that number just confirms the interest in yesterday RTH low which sits at 804 area,...but good to know folks are playing it
it will be interesting to see what happens if they get a 30 minute close below 91.25.....that will put most of the highest volume bars above prices so the weight of that can push it down.....sounds good in theory...I'm just watching now
yeah, i see it just hit my original sell target..787.25(not chosen for any particular reason) .. the 15 min proj is 784.00 the 1 min is 786.00 so thats the zone to watch for any possible rebound
crude -8% now. pit closes in 3 minutes
The scary thing is, if you look at the 15 min bar and 5 min bars from the high at 820.75 you can make a good argue ment for a decline from 820.75 to 799 or so before any rebound! that would project much lower than 784... alkl the way to roughly 762-63! and thats exactly in line with the chart i posted yesterday (hourly chart pointing to the 918 bar) which projects to 762.50!
they closed that 30 minute bar below that consolidation and they did it with an OVB to the downside......I'd be careful on longs for those who dare..i'd be real surprised and obviously wrong if they can run it up from here
the only hope is that the 15 min chart shows a nice 'reverse' cycle low on the 2:45-3;00 bar so the downside pressure should come off then, at least for a while!
well, Bruce, here comes 784, but i bet they go for 762! id also advise against longs !
nice little rush off my number tho...
Originally posted by VOwater

prestwick where did your BAV end up

Here is how it finished VO. Notice how big money (white line) really sold hard on the break of 772-770 around 14:33? At the same time small money (brown line) started to net buy heavily. I rarely see small money's conviction outweigh the conviction of big money, ala today. Bigs look to have done some covering into the close. That 770-72 area should be watched tomorrow if we test it as it is likely that big money will try to defend the sells they started there unless some news changes the nature of the market.
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