they dont make this easy

now they make us sit and wait wondering if it was a "false" breakdown with the rally back above 1131...

now they make us sit and wait wondering if it was a "false" breakdown with the rally back above 1131...

thats what happens when we all get conditioned to the 5 minute chart, lots of fake moves. A megaphone/expanding daily range is currently developing, which should resolve lower later. A pattern has also developed with the beginning of this earnings cycle, sell on the news. Still holding a bunch of premium waiting for something bigger:

spx

now they make us sit and wait wondering if it was a "false" breakdown with the rally back above 1131...

thats what happens when we all get conditioned to the 5 minute chart, lots of fake moves. A megaphone/expanding daily range is currently developing, which should resolve lower later. A pattern has also developed with the beginning of this earnings cycle, sell on the news. Still holding a bunch of premium waiting for something bigger:

spx

the only time i use a 5 minute chart is during sex and on a trend day...if today is not a trend day then they exist anymore

now they make us sit and wait wondering if it was a "false" breakdown with the rally back above 1131...

thats what happens when we all get conditioned to the 5 minute chart, lots of fake moves. A megaphone/expanding daily range is currently developing, which should resolve lower later. A pattern has also developed with the beginning of this earnings cycle, sell on the news. Still holding a bunch of premium waiting for something bigger:

spx

you could see that coming when intel reported
it was a sign of things to come.........

My take is ES make an attempt at around 1136 after cash trading hours. If can't clear will plummet and take out 1130 and gap down before market opens tomorrow. Looking at next support at 1080 by this week.

My take is ES make an attempt at around 1136 after cash trading hours. If can't clear will plummet and take out 1130 and gap down before market opens tomorrow. Looking at next support at 1080 by this week.

just out of curiousity...what makes today any different than the last two times we hit 1131 and rallied...

if anything its seems like the shorts are really $#@%^&$&ed here for shorting the breakdown which will create more buying power as they have to cover...

My guess is based on timing of fall and recovery. Just in time the recovery after cash closes meets foreign markets the next few hours.

And some observation on how some foreign markets trail the Dow. They look poised to trend down. I am holding some shorts on some foreign market. If ES breaks above 1136.5 I will close out my positions and await 1145 on ES to re-short. My target 1080 I meant by end Feb.

Edited by melonseed, 20 January 2010 - 04:49 PM.

And some observation on how some foreign markets trail the Dow. They look poised to trend down. I am holding some shorts on some foreign market. If ES breaks above 1136.5 I will close out my positions and await 1145 on ES to re-short. My target 1080 I meant by end Feb.

i agree with the 1080 target!..mine too! getting impatient with the ping pong game

I feel your excitement Atlas, from re-browsing every single thread (like me) just to find an interesting read and keep changing your avatar. I am just amazed how bears concoct astronomical reasons for it to trend down(like me). Just need to read both sides of the story just to retain sanity.