MyPivots
Sign In
MA
MarcinO
Rep: 67
Posts: 5,506
Starting it off.
JI
jimkane
Rep: 3,058
Posts: 33,089
But you know they want to make that up as fast as humanly (wait, machinely) possible.
JI
jimkane
Rep: 3,058
Posts: 33,089
Die, pig, die!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
JI
jimkane
Rep: 3,058
Posts: 33,089
KIG (it's on the terminology page).
JI
jimkane
Rep: 3,058
Posts: 33,089
Here's the 'excuse'. I only post this because of Eric's comment and chart about liquidity. Imagine what will happen when something big hits. The Flash Crash will seem like a walk in the park.

http://www.zerohedge.com/news/2014-10-23/new-york-doctor-who-treated-ebola-patients-guniea-rushed-bellevue-hospital-post-repo
JI
jimkane
Rep: 3,058
Posts: 33,089
Getting to be time to come out of this range...
JI
jimkane
Rep: 3,058
Posts: 33,089
Down then up sweep?
MA
MarcinO
Rep: 67
Posts: 5,506
40 is my favorite area
RA
rat89
Rep: 0
Posts: 7,015
Click image for original size
screen shot 2014 10 23 at 3 31 50 pm png

Click image for original size
screen shot 2014 10 23 at 2 52 27 pm png
JI
jimkane
Rep: 3,058
Posts: 33,089
Couldn't sweep down, so up sweep? Pop up?
JI
jimkane
Rep: 3,058
Posts: 33,089
And there it is.
JI
jimkane
Rep: 3,058
Posts: 33,089
Anyway, the ES did something it usually doesn't do, and that's make any kind of move in the Friday after close mini session. This time it kept moving up, set a new high for the entire move, and closed almost at the high tick. It is now fully at the monster weekly backtest line. If this is a bear market, it should roll off this, and roll hard. There is a key area above, built from the immediate price action, and that comes in at 76-87, with a grouping of key Fibs at 94.00-95.50. I could see it hitting the lower end of the area, maybe a little above the lower end, and still be respecting the key TL backtest, but not much more.

Still, does it even seem remotely feasible that this is going to dump to significant new lows from here? The only hope I see at all is that not only do all pundits and analysts say no, it's completely and utterly an impossibility, most readers in here, I believe, are also saying no out loud right now. And that's not meant as a slight to the readers in here, who are among the most highly informed out there, I feel, it's more meant to imply just how good they are at sucking people in. We'll see. I don't really care, from a trading standpoint, what these maniacs do with it. So, that's what I'm working with as we reach arguably the most critical juncture perhaps in trading history.