its on the breakpointtrades.com site which I subscribe to. it came from Steve Nelson they have a recording everday lasting 20min or so. you have to subscribe. or can get a two week free trial as I did last fall
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.
Sold 1/2 my TZA calls at .45. +66%
its on the breakpointtrades.com site which I subscribe to. it came from Steve Nelson they have a recording everday lasting 20min or so. you have to subscribe. or can get a two week free trial as I did last fall
Thanks for the update earl…
Daneric wrote about it yesterday in his blog.
Yes, but wasn't it really close, like -1.3 or something?
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.