ES discussion, week of 8/31/09-9/4/09

Entered a Sim-Trade short after the little ABCD correction from low of day.

Limit-Sell was 1017,50 and I would like to see a re-test of the LOD and maybe
a little further to 1011,75 (low of the last 6 days trading range).

Nice setup, Marco. Here's something to think about. Look at a 13/60-min. The LOD is a big flat ABCD with an ABCD in the CD leg (an okay thing in a flat ABCD). So, further downside may require a deeper test of that setup, or for it to fail. As an aside, if it does fail, we may have our intermediate top (also, look at the area for a DT ABCD). Finally, study your reward/risk playing this bearish ABCD if the LOD is all you expect.

Okay, time for them to run it up a little now???

Took 'em awhile, but they finally jumped it up.

So, is this a 4PT here? Or is that just a fanciful interpretation of all this chop?

Also watch the 'ABCD' area if this jumps up a little more. Then we'll see if they can really do anything here.

If they can get any traction I'm looking around 25-29 area, to try to close that gap. Technically I'd think 'no way', but manipulation-wise, I'd think 'positively-sure way'.

Not too often the technicals prevail over the MRRD's :-) Is this is sign of a change in the times? Is the intermediate top in???

Okay, last half hour, last chance for the MRRD's to explode it...

Here we come,
Walking down the street,
Get the funniest looks from,
Everyone we meet...

Hey, hey, we're the MRRD's,
People say we monkey around...

From MP I watch the POC, VAH, and VAL, and all previous virgin POC's, but only in the 'context' of them fitting in with the methodology.

Did you see that ABCD at a .300/.382 overlap and key set line that this started up off of just now? I have to wonder if it's done all it can today, though. We'll see. My plan is to stay long side bias until it clearly says otherwise. That may be in here, or it may not be.