So, another Sunday night GLOBEX session way up, and another new high for the entire 'bull' market, as 1180 bites the dust.

Now, notice when this hit that potential support area I was, once again, ready to get back on the long side bias. And once again we are at new highs for the move. That was some 15 points ago already. My point is, my approach is to lean on the long side until it breaks. Will we see 1,400 soon? Maybe. Could that high tick at 1180.50 there be the highest price the ES trades at for the next ten years? Possibly. Anything can happen. But, what do the odds favor? Which way is the trend? Is the trend your friend? Do you say that, but then fight the trend endlessly? Me, I'm always about my saying: "I'm goin' with the flowin'"

Understand, it wouldn't break my heart to see this short play out. In fact, I'd strongly prefer it, technically. But when they coil it this long on a Friday, nowadays, it usually doesn't break down. In the old days, yes, some 'profit taking' ahead of the weekend. But today, they know the odds are almost 100% that Sunday night/Monday will be manipulated up, so why sell? Why not accumulate?

'Boink'!

:-)

Now, since this may all be game playing, I'm careful of the vicious snap back to sweep them the other way, in case they don't gun the HOD stops, too. I suspect they'll get the HOD stops, but let's see. Maybe the get some of the breakout traders first.

Nope, I see those HOD stops coming now.

Now, that may trigger some big buying and up it goes into close, but watch for a possible vicious selloff 1-3 ticks over the HOD, in case they play that game.

That goes to show you just how odd this market is. One tick over and no repsonse either way. Are all those stops over one tick away? No response to a tick over with all those intraday tops, and the high for the entire 'bull' market. That is extemely odd behavior to me, especially for a Friday close. I would say it will most likely just grind higher until close, then.

If they can't take it up, watch out...

Sweet little fake there. These guys are so devious, and utterly ruthless...

Originally posted by jimkane

Originally posted by jimkane

..."The trend is, and ever shall be, my friend."
-perverted from Star Trek III, I believe it is

Everyone see why I reposted this?

If this were behaving technically in here and we had a bit more time, I'd say 93.50 plus or minus is where this will run into some headwind, with 91 on the way. Let's see if that acts as a magnet.

came in from my garden and saw i got ''boinked''!after first swing down, i move stop to break even, willing to give them the comish...