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JI
jimkane
Rep: 3,058
Posts: 33,089
I'll kick it off.
JI
jimkane
Rep: 3,058
Posts: 33,089
Let's see if they pick it up on this pullback. Understand, I pretty much never look to fight a 30-40 point strong trend. So, I'm just practicing trying to read the 1-min, that's all.
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MarcinO
Rep: 67
Posts: 5,506
Some lines at areas indicated by Jim.
The lower one includes two obvious TLs
.
Click image for original size
es 2014 07 31 png
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, Marcin. So, as they say, 'somewhere in here'. But, at some point, the 'one-day wonders' will stop. Hence, when I see a huge one-day sell to an area, I know this is going to end at some point. The area won't produce the 'make it all back in one day' bounce, it will produce more selling, maybe off a small bounce, maybe with no bounce at all.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, they fake the jobs report tomorrow and the market makes it all back? Let's see. They go with lots and lots of jobs, and the market says economy great, so big up. Or they fake few jobs, the economy not so great, Fed needs to step back in, so big up. That's one way to look at it. But, at some point, this 'bull' has to end. Statistically, it's real, real old.
JI
jimkane
Rep: 3,058
Posts: 33,089
When I talk to people from all over, all I hear is how bad things are, how they are so screwed, how they are getting deeper in the hole and are really struggling. Yet when I watch TV, 'they' say things are getting way better, and soon things will 'never have been this good'. And sometimes, even though I know all the things I do, and have all the skills I have, I wonder if maybe I'm just too negative. Maybe things are good, and that the government 'fixed' it all, and it's nothing but prosperity ahead. After all, that's all you hear on TV, how great things are. If it was going to re-collapse in 'The Big One', surely it would have happened already, right? Then I read stats like this, which line up with just about all the people I know, and I snap out of it. I realize how much trouble we are in, how bad it is going to get when TSHTF.

http://www.zerohedge.com/news/2014-07-31/21-ways-end-phrase-americans-are-so-broke
JI
jimkane
Rep: 3,058
Posts: 33,089
Anyway, 'The Player' told me he went long like 100,000 contracts around that low. It's going to be interesting.
JI
jimkane
Rep: 3,058
Posts: 33,089
Wow, bathroom stop, and well, wow. I have the next key area just around 1900+-. 'The Player' must have gotten stopped out, now that's something you don't see too often. Structurally, this hard push down here could be it, but I really like that 1900 area. We'll see. Who knows, with the market so broken, the thing could 'flash crash' at any time. There is simply no market depth, no diversity of players. A 1987 type event, but worse, is always possible in my view. I wish I could stay up, but I'm so tired. I've been thinking, once the action starts (the end of the 'bull'), I may try to sleep from market close, and stay up for the European and U.S. sessions.
MA
MarcinO
Rep: 67
Posts: 5,506
Click image for original size
es 2014 08 01 png
MA
MarcinO
Rep: 67
Posts: 5,506
28 and down to 1900 ?

Click image for original size
es 2014 08 01 2 png
MA
MarcinO
Rep: 67
Posts: 5,506
28 and down to 1900 ?

Click image for original size
es 2014 08 01 2 png
JI
jimkane
Rep: 3,058
Posts: 33,089
I think this is a good overview of the situation. No solutions (since there really are none), nothing new, but a good synopsis.

http://www.zerohedge.com/news/2014-08-02/do-over-groupthink-mass-delusion-and-hell-pay