Just over three hours until the futures open. Although there will be a break for part of tomorrow's RTH time, otherwise it's still 'game on'. I'm bored and ready for action. I'm not sure what my life would be like without the market, I guess I'd find something else that I find exciting...

my look on SP500, forks fibo and candles

Careful right in here, in case...

what a great day....everything got bought right where it had to....dia gave the signal the other day at the close thursday I think it was....

Dip and then gun right back up, that has me thinking they want higher. That low 40's is such a magnet for this thing, in my opinion.

Watch the stops when that AM high gives way...

Like I said...

Originally posted by jimkane

Careful right in here, in case...

I have seen bloggers who hedge themselves by making predictions on both sides of the market, and then spouting off when they were 'right', and it drives me crazy. With that in mind, how do I reconcile my last three statements, and how is what I am trying to point out of use for trading, in my opinion? Let's examine this. Here's what I said:


"Careful right in here, in case..."

"Dip and then gun right back up, that has me thinking they want higher. That low 40's is such a magnet for this thing, in my opinion."

"Watch the stops when that AM high gives way..."

My first comment was stating that I was worried, from a management on the long side point of view, about the area this was hitting in to, especially at that time of day. It starts into the area, dips, and then they goose it up hard. This price action clue implies, on its face, they are going to run it. Kiss the area goodbye. But, alas, after having posted this more times than I can even recall, a key HOD is right there overhead. So, what do I watch for, before I go overboard thinking the upside is unlimited? The 1 or 2-tick game.

So, I post the third note, to get everyone thinking about watching the reaction. It goes 2 ticks over, and starts to dump. Hence, the area did drive it down, but not until they made it look strong, trapped the initial players, then trapped all the players that use the previous HOD for their decisions. Trap after trap. If what I posted doesn't look like the same old approach from me then you haven't been grasping what I've been posting over and over and over in here. Is it starting to make some sense, I hope? All I do is decide on the areas, read the clues, and see if they play the same games again and again, like I feel they tend to do.

BTW, I'm not saying this will go down any more here than it has. It may or it may not. It may just be a shakeout on the way to the low 40's. What I was wary of is that they may use the area for a shakeout, a reversal, or an attempt to get better prices before running it to the low 40's. It was a spot for me to watch, especially with regard to any daytrades (better termed 'intraday swing trades') I may be in.

Yes, that all makes sense and it's worthwhile to have it spelled out too.

Interesting how weak it is now. I keep asking myself which corner do they want to drive it into ahead of the jobs numbers. I was thinking up, but that seems more than two trading days away. I'm wondering about the low retest as a possibility too.

Hmmmm. Hmmmm is my favorite expression today, it seems. Usually it's 'Amazing'. Anyway, the SPY has drifted back down to below the ES closing level. I'm not unhappy at all, just a bit surprised that they can't bounce this even in the aftermarket hours with nothing else trading. Very curious. I hope we see that 60-65 soon, preferably Sunday night, before we get 'the big bounce'. Then down into those 1100's, if I get my way.