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ES 12-03-09

Not much to say yet... new highs 241, new lows 4. Doesnt look like a market making a major top to me. That being said today could have strength very early , then decline ahead of tomorrows all important jobs data. Going to rest an see you in 3 hours or so.....
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Look at yer one min chart. Possible mini peak coming 11:05-08

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Well, the little mini peak came in nicely at 1110.75, then the decline ,but only 2 handles. Thats the problem , you never know how much of a reaction from the cycles. Thats why i give so much more weight and respect to the price projections. i see were still reacting off it!... watching
Remeber this?
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Call me crazy but i like the way its hanging at the red avg . im selling one only up here...(1109.00)
heres my reasoning.. sure we could go up to the 1112.00 projection (we never did yet) but if we mish-mash sideways her e for 15 min or so the technicals look ripe for downside action
the 2 hour stochs about 2/3rds of the way down. the hourly is on a very weak buy and looks like it could roll over soon. 13 min is on asell about half way down. and 5 min looks ready also... short one from 1109.00, will sell one more at 1112.25
Gettin too late in the day for me... see ya tomorrow!

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