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'"
JI
jimkane
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Posts: 33,089
roofer, you can discuss the .941 in here, that's not a problem. I'd just prefer it not be publicized 'out there' a lot.
BTW, great charts.
BTW, great charts.
JI
jimkane
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Posts: 33,089
If they don't turn it right in here I'd expect an upside acceleration. I'm talking on the 5-min chart.
JI
jimkane
Rep: 3,058
Posts: 33,089
I would suspect that no higher than 90 and this should start to struggle. We'll see, though, as meltups are sometimes quite surprising. My 'resistance' starts here at 88 and runs to about 90. This is where we find out, IMO. In the meantime I let my long-side intraday bias run until it tells me otherwise, just in case...




