ES discussion for Wednesday 7/29/09

This is so funny, how 'artificial' this defense of the LOD is. Makes for some great trading, but it's so obvious, it just seems comical to me.

Notice, too, how each new test comes from a lower high. 99.99% of the time, in my experience, in a free market when you have this many tests set up like this, it will break down. In a manipulated market the odds are probably 100% that it goes up.

Back to the TL. But it acts like it wants to break the pattern to the upside and take out that previous swing high to nullify it. Let's see if they have the juice. What a day for scalping, wow.

I'm going to be shocked if they don't gun this up into the close. Everything on my charts says down from here, so that's why I suspect a big burst up. It's too obvious, and too clear the manipulators are at work. Probably to quell the fear from the really bad note auction, with everyone waiting for the day we can't fund the deficit.

And there goes that swing high. The pattern, as I thought, is now invalidated. Another case of they know what would happen if that broke to the downside, so they simply won't allow it. Cool, since I'm just staying on the long side, holding my nose, and playing their games with them.

This really should shoot for 79ish.

But keep an eye on this DB ABCD first, in case.

action reaction (cyan)

So, they did the 10 point ramp, as expected, and this play is still running. Not bad, eh?