What makes you think we are heading down to 105? There's a whole lot of support that you must break through before you get to 105.
That's not going to happen yet, (even though I'd like to see it happen). The ADX is losing a lot of steam as it's just barely above 20 right now. Once it bottoms and rolls back up, then we can talk about heading south.
But right now… the bears are sleeping, and the bulls are grazing.
the setup is a little complex as it involves some stats, it's not a defined visual pattern, the trigger for this setup is the highest period (in the case: monthly) close which is why the 1115.10 number is so important.
Carl at days end:
Estimated /ES range: 1092-1105 (13 point range)
Actual /ES range: 1092.50-1105.50 (13 point range)
Nailed the high, low and the range
Carl's trading:
Carl went long one unit /ES at 1095.50
Carl added one unit /ES at 1101.50
It appears Carl did not sell anything today.
Grade A on range estimates, I (incomplete) on trading.
What makes you think we are heading down to 105? There's a whole lot of support that you must break through before you get to 105.
That's not going to happen yet, (even though I'd like to see it happen). The ADX is losing a lot of steam as it's just barely above 20 right now. Once it bottoms and rolls back up, then we can talk about heading south.
But right now… the bears are sleeping, and the bulls are grazing.
Red ya ready? We are heading down from here Target 105
yesterday's reaction on the $VIX gave it some room to move on the downside, today the blue line is in the low 19's, it'll be in the 18's by friday
Thaks, looks like you are looking for us to touch the blue line. At what level would that be for vix? Around 16?
$VIX chart
http://www.flickr.com/photos/47091634@N04/43856…
Not trading anything at the moment. I'm waiting for the market to give me a clue first 🙂
That makes more sense at this point, as long as that lower channel line holds.
May be b/c they are not looking for Pee 3? lol
the setup is a little complex as it involves some stats, it's not a defined visual pattern, the trigger for this setup is the highest period (in the case: monthly) close which is why the 1115.10 number is so important.