ES discussion for Friday 7/24/09

Notice the flat this push came right off of?

980 next?

Or is this fulfillment of that flat it?

EXP here? Or does it need a bigger correction?

So the EXP bounced it a bit, it then morphed into a standard ABCD, and fulfilled that, breaking away from the GLOBEX high and POC it was ranging on, hitting the VAH and IB 50%. 1.272 and IB 100% is that 980 I mentioned, but they have no more get up and go today. Maybe an aftermarket burst, we'll see. I'm inclined to let it do whatever it does and look for MOC (market on close). I still think they might get that 980.

Hmmm, NASDAQ 12 straight up days before today is a record that goes back to 1992! Not even once in the tech bubble did they string that many together. This is one monster bull market we have here.

977.75...

Okay, hit 979 on the close, but look at that burst. A few more seconds and I think they would have gotten 980. So, that's a high tick for the day close, high tick for the week close, and a new high for the entire bull market. I suspect we'll see a nice gap open Sunday night. Those calls off that ABCD on 7/8 sure keep looking better and better every day! Hold that nose and smile!

Okay, another fun day, and great for trading, in my opinion. I hope everyone is having lots of fun. I'll post the ex post facto, and then see everyone Monday, or maybe Sunday night.