ES 12-29-09

BTW, THE NEXT 13 MIN BAR STARTING AT 11:35 should contain a low... time will tell!

Kool, how do you decide which bar to use for cycle low on 5 min chart? See the identical highs at 10:25 and 10:30 on 5 min chart. I have low coming up now using the second one.

theres a BINGO on 1122.25! i know im getting a little crazy (2 hours sleep?) but i just bought 2 more at 1122.50.... long 4 from avg of 1123.50

Using a tight 2 point stop to start, but i'll likely raise it soon...

Before you mail in my nomination for the Nobel prize, be aware that the 5 min chart has now experienced the dreaded cross of the moving averages signifying the trend is now down! The 13 min has not , but could if we dont begin to rebound soon! ...ps: Oh go ahead and mail it ! Hell, Obama got his for stuff that hasnt happened yet, right? lol

Originally posted by einstein

Kool, how do you decide which bar to use for cycle low on 5 min chart? See the identical highs at 10:25 and 10:30 on 5 min chart. I have low coming up now using the second one.

TRUTH IS FRIEND YOU DONT KNOW FOR SURE, BUT USUALLY A SHORTER TERM CHART MIGHT HELP CLARIFY. Also even if the low is coming now, for instance, then im hoping that it would just be the obligatory retest of that 1122.25 low and not a new low! Any way , thats all the more reason for a tight stop here!

thanks, Kool.

Theres a real danger here. I told you about the 5 min chart, ...if the market cant rebound above 1124.50 soon then the 13 min averages will also feature the 'death cross' ! I might need that nobel money soon!

LOL ..guess they heard me! I'll be taking 2 off at 1124.50 just in case.