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Did Something Just Come Out?


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#1 Macro Speculator

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Posted 24 May 2011 - 07:54 PM

ES Futures just dove another 4.5 points in 15 seconds to 1306.5, breaking below yesterday's lows. Now recovered back to 1309, but still below the lows set recently. I don't see any news....I wonder if we're breaking down. Hmm...

#2 SemiBizz

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Posted 24 May 2011 - 08:07 PM

It's another Euro Rout. UGLEE... Getting a smack down Vs JPY/CHF and even the other ugly... US$ :lol:

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#3 dcengr

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Posted 24 May 2011 - 08:11 PM

Once 1305 goes it can get pretty ugly.
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#4 CLK

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Posted 24 May 2011 - 08:18 PM

Nothing much happens until the dollar opens. I don't see the top in the dollar, got the 76, now looking for 78.

http://futuresource....t...p;x=48&y=12

#5 thespookyone

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Posted 24 May 2011 - 08:24 PM

FWIW-I'm looking for a hard gap down reversal in the moring-I just hope they don't bottom it overnight. Should also create a short term top in the dollar-it will NOT see 78 on this leg. After the reversal, a 25-27 point SPX short scorch-then the real down game begins.(1216.80)

Edited by thespookyone, 24 May 2011 - 08:27 PM.


#6 orange

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Posted 24 May 2011 - 08:26 PM

FWIW-I'm looking for a hard gap down reversal in the moring-I just hope they don't bottom it overnight. Should also create a short term top in the dollar-it will NOT see 78 on this leg. After the reversal, a 25-27 point SPX short scorch-then the real down game begins.


I would prefer it bottoms overnight since my final ES long was just filled for a 1310ES basis :unsure: . We should fill the entire gap from Monday within 3 days.
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#7 CLK

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Posted 24 May 2011 - 08:28 PM

FWIW-I'm looking for a hard gap down reversal in the moring-I just hope they don't bottom it overnight. Should also create a short term top in the dollar-it will NOT see 78 on this leg. After the reversal, a 25-27 point SPX short scorch-then the real down game begins.(1216.80)




No one knows for sure what is next, we may even have already seen a truncated 5th(rebound from TL break).

Edited by CLK, 24 May 2011 - 08:29 PM.


#8 Macro Speculator

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Posted 24 May 2011 - 08:32 PM

I just covered at 1304.50. That is enough for now after this big move down. I will look to short into rallies. The bear is back I think.

#9 dcengr

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Posted 24 May 2011 - 08:47 PM

I just covered at 1304.50. That is enough for now after this big move down. I will look to short into rallies. The bear is back I think.


Not quite 8:30 am yet.. lows may still be ahead of us.. though it did hit 1305 like I thought.. next pivot would be 1295-1297. Though I think going below 1300 would bring about worse than just 1295-1297.
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#10 TechMan

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Posted 24 May 2011 - 09:16 PM

I just covered at 1304.50. That is enough for now after this big move down. I will look to short into rallies. The bear is back I think.


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