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...
Did Something Just Come Out?
Started by
Macro Speculator
, May 24 2011 07:54 PM
49 replies to this topic
#2
SemiBizz
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Volume Dynamics Specialist
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$
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
dcengr
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Posted 24 May 2011 - 08:11 PM
Once 1305 goes it can get pretty ugly.
Qui custodiet ipsos custodes?
#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
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
. We should fill the entire gap from Monday within 3 days.
"When your position is underwater, average down" - Professional Trader
#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.
Qui custodiet ipsos custodes?
#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.
Never hurts anyone to take the profits.
