Click image for original size
Key supports on the way down are at 18 and 6-7.
Click image for original size
Click image for original size
MA
MarcinO
Rep: 67
Posts: 5,506
My guess is that they want to test the previous low in the ES, so my most optimistic area is between 76 and 82.
Key supports on the way down are at 18 and 6-7.
Key supports on the way down are at 18 and 6-7.
JI
jimkane
Rep: 3,058
Posts: 33,089
Forget that, C'mon 19!
Originally posted by jimkane
C'mon, 26, C'mon, 26. (Paraphrased from what movie?)
JI
jimkane
Rep: 3,058
Posts: 33,089
The read was '26 and change'. It hit 27.00. I'm thinking that's a hit. Any more weakness and I'm looking for 19 and change. These are 'center of areas' anyway. Lots of time left. I'm hoping for weakness, but I just can't shake the feeling they will go back to their Friday ramp into the close antics.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, rat. So I'm thinking if they can't come in, the whole area may give way.
JI
jimkane
Rep: 3,058
Posts: 33,089
Maybe, but I'm not feeling it. I just can't get the feel of downside this afternoon...
RA
rat89
Rep: 0
Posts: 7,015
agree. it is a game of chicken....and if they can't crash it then boom because there are so many layers of stops to the upside as well...
Originally posted by jimkane
Yes, rat. So I'm thinking if they can't come in, the whole area may give way.
JI
jimkane
Rep: 3,058
Posts: 33,089
I think that one has now been answered.
Originally posted by jimkane
I'm wondering if this upside trigger I just got is valid...
JI
jimkane
Rep: 3,058
Posts: 33,089
Nope, they sold that bounce. But, they are having trouble breaking it down. Chop is so common in situations like this. That downside, if nothing more than just a sweep under the LOD, is such an easy thing from here. If they wanted it, it's theirs. But 'they' just keep popping it.