The area at which ES stopped on Friday wasn't accidental at all.
JI
jimkane
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That was a nice stop run/Chinese PMI, with volume, and new high for the move. Single digits now from a new all-time high. There is nothing I can imagine no matter how hard I try that has this thing not at new all-time highs tomorrow, or even before the open. Pretty basic trading, in my opinion.
JI
jimkane
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Posts: 33,089
Although I see a small chance of an issue around 94-95, I just can't imagine a failure before new all-time highs. Sometimes when I make a post like this I'm dead on, and sometimes I'm not only dead wrong, but usually when that happens my post is on the high tick or thereabouts. I'm ready for that to happen. But, I like to state my thoughts in advance, and that's what they are.
As an aside, wouldn't this still be a potential failure spot, with the 'throw over' and retest of that super-key area? It could be, but I think the odds of that are very slim. We shall see.
As an aside, wouldn't this still be a potential failure spot, with the 'throw over' and retest of that super-key area? It could be, but I think the odds of that are very slim. We shall see.
JI
jimkane
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Posts: 33,089
Pop! There's another nice pop. New all-time highs before the open, I think. But, let's say the all-time highs are a given, how can they best game it? Bring it in before the open, then the jackrabbit run out of the hole? I can't see over before the open, or just after, then any selling. All I know is 'up'.
MA
MarcinO
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For now it looks similar to my opening area. The market reverses 1-2 points shy of my level.
JI
jimkane
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Posts: 33,089
I say this as a joke, but if I we you, I'd trade everything when it gets 2 points from my area.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, well another what I think was a fantastic week for trading goes into the history books. See ya all Sunday night. Other than the five hour break on Monday from 10 AM to 3 PM Pacific time, the ES will be trading. It may be light, but they use that to move it, too. Regardless, I'll be there.



