March S&P E-mini Futures: The ES didn't spend much time yesterday above its last top at 1077 and then broke to 1066 this morning. This kind of action is generally short term bearish. Because I think 1041 will hold I am going to give the market the benefit of the doubt and estimate today's day session range as 1065-1080. Weakness below 1065 will mean a drop to 1045 is likely.
My comment: so the range is really more like 1045-1080.
You have been right so far on this call Sundancer… I'm not sure myself at this time? But, I do know that the trend has changed, and it is possible to break that 4 week series.
The reason I believe this time is different… the monthly and weekly charts. Those other time appear to be during the uptrend… when the monthly charts were pointing up.
We'll see today I guess. Thanks for you analysis, and thanks for posting it. We can all learn better as a team, and I certainly can't catch it all. Too much information out there.
accordiing to “breakpoint trades” all wave 3 declines between oct 07 and oct 09 did NOT start untill the Maclellen Osc returned to the “0” zero area. that was fullfilled yest.
we're getting our 6-9 point gap that i alluded to after the close yesterday
a lot of people will open bearish positions @ the open because they see a carbon copy of 2/4/2010 repeating, lightning never strikes twice in a market
here's the setup: two SPX 3 min gaps they left behind yesterday 1070.6 1073.1
the high P/C ratio that i spoke of two days ago confirms the low is in for a minimum of 9 trading days starting yesterday, we're in the 99 percentile if you want hard numbers
many people here holding bearish positions this week are in some pain, i posted a statistic that too many people overlooked, the $DJI hasn't had 5 straight down weeks in over 4 years, we are currently @ 4 straight down weeks as of last friday,
given these numbers what many of you were doing was betting on the sun not rising, little did you know that when you opened those positions
whatever method one uses in the market to form positions, without using statistical analysis to complement your other methods you are bound to get trapped into positions
Carl Futio this morning:
March S&P E-mini Futures: The ES didn't spend much time yesterday above its last top at 1077 and then broke to 1066 this morning. This kind of action is generally short term bearish. Because I think 1041 will hold I am going to give the market the benefit of the doubt and estimate today's day session range as 1065-1080. Weakness below 1065 will mean a drop to 1045 is likely.
My comment: so the range is really more like 1045-1080.
I hope this sell off is real this time, but I'm only seeing a slight pullback so far… We'll see as the day unfolds today.
I didn't know that ben… do you have a link about this?
You have been right so far on this call Sundancer… I'm not sure myself at this time? But, I do know that the trend has changed, and it is possible to break that 4 week series.
The reason I believe this time is different… the monthly and weekly charts. Those other time appear to be during the uptrend… when the monthly charts were pointing up.
We'll see today I guess. Thanks for you analysis, and thanks for posting it. We can all learn better as a team, and I certainly can't catch it all. Too much information out there.
Anyway, thanks again…
accordiing to “breakpoint trades” all wave 3 declines between oct 07 and oct 09 did NOT start untill the Maclellen Osc returned to the “0” zero area. that was fullfilled yest.
Red, Looks like you will get what you are looking for today. Good patience and confidence you have…..
Futures looking good so far this morning
Posted at your site, thanks
we're getting our 6-9 point gap that i alluded to after the close yesterday
a lot of people will open bearish positions @ the open because they see a carbon copy of 2/4/2010 repeating, lightning never strikes twice in a market
here's the setup: two SPX 3 min gaps they left behind yesterday
1070.6
1073.1
the high P/C ratio that i spoke of two days ago confirms the low is in for a minimum of 9 trading days starting yesterday, we're in the 99 percentile if you want hard numbers
many people here holding bearish positions this week are in some pain, i posted a statistic that too many people overlooked, the $DJI hasn't had 5 straight down weeks in over 4 years, we are currently @ 4 straight down weeks as of last friday,
given these numbers what many of you were doing was betting on the sun not rising, little did you know that when you opened those positions
whatever method one uses in the market to form positions, without using statistical analysis to complement your other methods you are bound to get trapped into positions
That's old news now. The market does care that Goldman is cheating… they are too.