Stop/reversal lines:
VST = 1393
ST = 1384
IT = 1421
LT = 1309
Price action is bullish above/bearish below those lines.
The goons have been selling VST resistance since the key IT/ST 1421 target was reached from the 3/17 lows.
There is currently a weak bounce working off of 1384 ST support.
Key numbers are 1384 and 1393. Inside that range is the OpEx week doldrums and is a potential killing zone for day traders.
Bulls want to see > 1393 to ignite a squeeze.
Bears need to take out lows under 1384 to continue the VST lower high/lower low progression.
ES
Started by
swinger
, May 12 2008 09:00 AM
1 reply to this topic
#2
zman
-
- Traders-Talk User
- 1,215 posts
Member
Posted 12 May 2008 - 09:21 AM
Stop/reversal lines:
VST = 1393
ST = 1384
IT = 1421
LT = 1309
Price action is bullish above/bearish below those lines.
The goons have been selling VST resistance since the key IT/ST 1421 target was reached from the 3/17 lows.
There is currently a weak bounce working off of 1384 ST support.
Key numbers are 1384 and 1393. Inside that range is the OpEx week doldrums and is a potential killing zone for day traders.
Bulls want to see > 1393 to ignite a squeeze.
Bears need to take out lows under 1384 to continue the VST lower high/lower low progression.
Thanks swinger:)
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