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jimkane
Rep: 3,058
Posts: 33,089
Starting it off. I'll quote my last post from last week.

"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."
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MarcinO
Rep: 67
Posts: 5,506
Good that I wrote it just before the explosion

There is a very nice spot around 1.2790 where I hope it can get to.
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MarcinO
Rep: 67
Posts: 5,506
Backtest of 1.2746 area is crucial to continue the uptrend.
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MarcinO
Rep: 67
Posts: 5,506
1.2723 low was a backtest of the resistance area posted yesterday.
I would really like to see 1.2795 today.
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MarcinO
Rep: 67
Posts: 5,506
Backtest of the same priceflow. Now at 1.2741.

Originally posted by MarcinO

Backtest of 1.2746 area is crucial to continue the uptrend.
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jimkane
Rep: 3,058
Posts: 33,089
It's pointless, as pointless an exercise as I have ever done, to point out that the ES has now hit the start of the key area. The Fed announcement is tomorrow, even if they do stop QE, they will surely announce something dovish, at the least that they will restart QE if needed. There is no reason to be bearish any more, at all. I will be long, until, well, until the end of my life, I guess... I'm not even going to try bearish any more. It's just too easy to be long. Why put out all the effort?
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jimkane
Rep: 3,058
Posts: 33,089
Marcin is on fire with that Euro...
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jimkane
Rep: 3,058
Posts: 33,089
Another pump up. Yawn.
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MarcinO
Rep: 67
Posts: 5,506
Unfortunately that was the only instrument I was able to follow.
Which is a pity, given how easy was the area for ES at 10 today...
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jimkane
Rep: 3,058
Posts: 33,089
I was hoping you'd see that...
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jimkane
Rep: 3,058
Posts: 33,089
Time for another ES pump up. I should quit complaining, this is so easy it's ridiculous. I'm just broken-hearted 'the bad guys' are going to further destroy our country with more fake stock price run-ups...
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jimkane
Rep: 3,058
Posts: 33,089