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ES short term trading 5-25-10

Intense overnight action , pretty much drives a nail into the bulls heart i think. Breaking the 1036.25 feb low would be devastating. I had hoped that we would find a bottom by the 24th,and as we havent broken the feb low yet , we surely seem destined to do so. I said yesterday i thought today might be the bulls last chance. Prophetic to say the least. i believe the original target of 1014 or so may be in the works,although a short ,quick rebound rally could occur at any time.In fact i got home right as we were hitting 1041.50 and went long instinctively at 1042.25. Remember the previous weekend preview, that 1041.50 number was explained. my one min chart showed 1.618 at 1045.50 and 2.618 around 1048 so i exited early at 1045.00. truth be told that was a pretty lucky trade. Were already 30 handles south of yesterdays close and tho i have no idea what happens between now and the open, i'll bet we see lower yet today. Take note that even tho the june es feb low was 1036.25, the current globex low of 1041.50 equates roughly with a cash spx exactly at its feb low!(1044 if memory serves) . Again ,not good! Gonna sleep.. see ya soon.
wow..miracle exit..!!
Originally posted by Piker

[quote]Originally posted by Piker
There is a small gap between 1069.50 and 1070.25.

filed at 68.25 short...not sure why so bad...exited 66.25...last two tring for 62.50....

stoopped on runners!!!just too sorry for late post...congrats to the gap fillers today...transitional day for longs I hope if we can hold the single prints that formed today

any trade above 68.75 will retest that number.
Dragon pattern above 71?
I like this 81.25 - 83 and if it wasn't the overnight I'd try and short for the 75 retest....the other problem is the risk point...we know they have liked 87.50 and we know they like the these are the targets if you think we are still going up...

From today the 57.50 - 60 is key support...that was the breakout and single prints
cool..I hope someone is enjoying and taking advantage of these On ranges.....there's are old pal the 75 again.....amazing!!
now how about 68.75...that would be long as 75 doesn't hold......otherwise they will revist 81.25.... c ya in the a.m.
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