ES discussion

http://zorotrading.b...295437553428386

i just realized i gave the cash targets on the discussion. So 1156-55 and 1165 Cash maxer to 1170.50 See more coffee is needed before I write.

Thanks Z. Will you look to short around 1160-65 later in the week? (...or is that like asking if a bear is Catholic? ) TIA, D

Thanks Z. Will you look to short around 1160-65 later in the week? (...or is that like asking if a bear is Catholic? ) TIA, D

I will likely short 1155-56 for 6-8 if we head there now if we close or get close to the open gap I will wait for 1165. A much larger position comes out around 1165 if everything is line. This rally triggered that 90% retrace indicator I developed so I will pass on long side for today.

Don my longer charts have no bottomed in anyway. The under day time frames have for this bounce.
What constantly has me freaked out is my mega trend charts #2 in long length. It has yet to turn positive from Nov. 07 It was positive for years and years. Now one has to ask what the hell is coming down the road say after 12 months. I do not freak easy but that thing has me worried.

Edited by zoropb, 18 May 2010 - 09:38 AM.

Z - who is master Che?

Z - who is master Che?

He has a pretty good reputation and a following. He does good work from all I have seen. Some of the traders here follow him also.

What constantly has me freaked out is my mega trend charts #2 in long length. It has yet to turn positive from Nov. 07 It was positive for years and years. Now one has to ask what the hell is coming down the road say after 12 months. I do not freak easy but that thing has me worried.

Z, how much emphasis is put on volume in relation to price in the mega trend chart?
I'm wondering if the light volume over the last 14 months or so has had an effect on how the chart has read the move up.

Edited by milbank, 18 May 2010 - 10:24 AM.

What constantly has me freaked out is my mega trend charts #2 in long length. It has yet to turn positive from Nov. 07 It was positive for years and years. Now one has to ask what the hell is coming down the road say after 12 months. I do not freak easy but that thing has me worried.

Z, how much emphasis is put on volume in relation to price in the mega trend chart?
I'm wondering if the light volume over the last year or so has had an effect on how the chart has read the move up the last 14 months or so.

It has elements of volume baked into the formula but not lots.
Mil I am not kidding around that thing has me worried. Like my newest work on time the one that had that turn on May 13th and now one on May 27th+- from 2 weeks ago. It spit out First week of Sept 2011. Now I even sat there and said what the heck does this date mean and I am still scratching my head.

Mil after thinking about this rally for a while some months ago. The rally from March 09 I think had those that sold at the bottom never to go back in and those that got trapped above 1180 or so that did not sell waiting for a miracle to sell into. Within that void of lack of selling a small push in up volume could move it within that range. The flash crash was a warning sign of the lack of bid under the entire market. Not a comforting feeling to stay long after hours is it unless in futures with a stop and forget weekend.

BTW The SPX as it relates to all other commodities should be priced at 1033. that is where price should reside. Now of course this changes daily but it is right there as of Last Friday.

esmo@1132............S@ 1122.........1118.........1083 R/T@1142......1146-47....1214

Thanks for elaborating Z.