The ES stopped at 2007 doing a great job hitting stop loss orders.


A stronger resistance is between 32 and 44, I guess.


But before that, I would suppose a correction to low 70s.

You know how they used to have a saying "That last eighth is the mostly costly one...", indicating that trying to catch the exact top or bottom, in or out, isn't wise. I usually say that trying to play the last move into an area isn't usually a good play. So, it may get to that area, but trying to play that (if not already positioned and riding) many times is tough. If it gets there and one thinks the area is good, play it. Ride a current position if it is called for. Otherwise, just be patient. Most of the time I don't know if it will get to an area, I just wait and see, and if it's an area I want to play and it does wind up there, I can act. In this case, I think the market has the potential to sell hard as they come to realize even a bazooka can't save them. But, who knows.

Originally posted by MarcinO

I wonder if this is it, or they will make one more push to low 80s.

Originally posted by jimkane

That being said, we have an ABCD after sweeping out the local TL's and the overnight low, as well as the higher timeframe TL, so be aware of how they usually react to that.

I didn't mean going short, trying to catch supposed last push down. I was just casutious with going long off ABCD hitting TL above my level.

Originally posted by jimkane

You know how they used to have a saying "That last eighth is the mostly costly one...", indicating that trying to catch the exact top or bottom, in or out, isn't wise. I usually say that trying to play the last move into an area isn't usually a good play. So, it may get to that area, but trying to play that (if not already positioned and riding) many times is tough. If it gets there and one thinks the area is good, play it. Ride a current position if it is called for. Otherwise, just be patient. Most of the time I don't know if it will get to an area, I just wait and see, and if it's an area I want to play and it does wind up there, I can act. In this case, I think the market has the potential to sell hard as they come to realize even a bazooka can't save them. But, who knows.

Originally posted by MarcinO

I wonder if this is it, or they will make one more push to low 80s.

Originally posted by jimkane

That being said, we have an ABCD after sweeping out the local TL's and the overnight low, as well as the higher timeframe TL, so be aware of how they usually react to that.

I can't imagine that 76 low isn't a temptation for them. But, there is almost nothing below that, so if they play that game, it could be 'lights out'.

Yes, I realized that after I posted it, but I thought the post was worthwhile so I didn't change it.

Originally posted by MarcinO

I didn't mean going short, trying to catch supposed last push down. I was just casutious with going long off ABCD hitting TL above my level.

Originally posted by jimkane

You know how they used to have a saying "That last eighth is the mostly costly one...", indicating that trying to catch the exact top or bottom, in or out, isn't wise. I usually say that trying to play the last move into an area isn't usually a good play. So, it may get to that area, but trying to play that (if not already positioned and riding) many times is tough. If it gets there and one thinks the area is good, play it. Ride a current position if it is called for. Otherwise, just be patient. Most of the time I don't know if it will get to an area, I just wait and see, and if it's an area I want to play and it does wind up there, I can act. In this case, I think the market has the potential to sell hard as they come to realize even a bazooka can't save them. But, who knows.

Originally posted by MarcinO

I wonder if this is it, or they will make one more push to low 80s.

Originally posted by jimkane

That being said, we have an ABCD after sweeping out the local TL's and the overnight low, as well as the higher timeframe TL, so be aware of how they usually react to that.

That's likely it at 79.75 there, time to pop, but that 76 should really temp them... But, like I said, it's too risky for them.

Worthwile for sure. Thanks!

Originally posted by jimkane

Yes, I realized that after I posted it, but I thought the post was worthwhile so I didn't change it.

Originally posted by MarcinO

I didn't mean going short, trying to catch supposed last push down. I was just casutious with going long off ABCD hitting TL above my level.

Originally posted by jimkane

You know how they used to have a saying "That last eighth is the mostly costly one...", indicating that trying to catch the exact top or bottom, in or out, isn't wise. I usually say that trying to play the last move into an area isn't usually a good play. So, it may get to that area, but trying to play that (if not already positioned and riding) many times is tough. If it gets there and one thinks the area is good, play it. Ride a current position if it is called for. Otherwise, just be patient. Most of the time I don't know if it will get to an area, I just wait and see, and if it's an area I want to play and it does wind up there, I can act. In this case, I think the market has the potential to sell hard as they come to realize even a bazooka can't save them. But, who knows.

Originally posted by MarcinO

I wonder if this is it, or they will make one more push to low 80s.

Originally posted by jimkane

That being said, we have an ABCD after sweeping out the local TL's and the overnight low, as well as the higher timeframe TL, so be aware of how they usually react to that.

The machines got the immediate TL, which seems to be all they are doing today, gunning endless TL's. I just can't imagine they don't want to sweep 76...

Today used to be the usual rollover day, but sometimes it's Friday, rarely even Sunday/Monday. Right now volume is still with March, and my levels are all basis March. June should start tomorrow, and it is trading almost 10 points lower.

C'mon, 76...

76.75... You can do it.

they put it exactly where they had to put it into the close, where (5)=(1) at 2022 spx and 202.77 spy