4 replies to this topic

[crestdorf]

http://img510.images...92/135eszd6.gif

Above is updated 135 min of June ES chart posted here Thursday. I have a cycle turn due the 22nd, which is a high +/- a day. Notice the red indicator at bottom dramatically divergent "buying" pressure.Taken in the corerect context ie. "where price is in time" the buy sell helps to show distribution or accumulation buy large buysers./sellers. Despite higher prices the indicator IN THIS CONTEXT is divergent to price= look for pull back
A gap up Monday is a short sale for a fill, which is likely to fill Friday's as well. The retest of 693 or so basis the OEX breakout is the minimum I am looking for.
A weak open on Monday I very likely to make higher high and get to SPX 1527 area. As I said Thursday, for me the only style is short term here with a lean to the short side until 1527 SPX is closed over.

[rightside]

http://img510.images...92/135eszd6.gif

Above is updated 135 min of June ES chart posted here Thursday. I have a cycle turn due the 22nd, which is a high +/- a day. Notice the red indicator at bottom dramatically divergent "buying" pressure.Taken in the corerect context ie. "where price is in time" the buy sell helps to show distribution or accumulation buy large buysers./sellers. Despite higher prices the indicator IN THIS CONTEXT is divergent to price= look for pull back
A gap up Monday is a short sale for a fill, which is likely to fill Friday's as well. The retest of 693 or so basis the OEX breakout is the minimum I am looking for.
A weak open on Monday I very likely to make higher high and get to SPX 1527 area. As I said Thursday, for me the only style is short term here with a lean to the short side until 1527 SPX is closed over.

My indicators are aligned with yours for Monday. I must admit however, that my work is leaning toward a gap up as this better aligns with Dow and S&P sells at the close. Thanks for sharing!!!!

[Russ]

Interesting stuff. Will you be looking for further highs after a pull back this coming week?

[crestdorf]

Interesting stuff. Will you be looking for further highs after a pull back this coming week?

It will suprise but not astonish me if we dont make new all time highs, highs over spike high in SPX 1557 area. Sentiment seems not extreme enough. Remember the days when SNP's had daily ranges 2x what they are now? Going back to the charts in 1999 2000 a real trip and remembering the interday movements ahh the good old days.

Gap up, sideways, up and failure is my hope for am.

[Russ]

It will suprise but not astonish me if we dont make new all time highs, highs over spike high in SPX 1557 area. Sentiment seems not extreme enough. Remember the days when SNP's had daily ranges 2x what they are now? Going back to the charts in 1999 2000 a real trip and remembering the interday movements ahh the good old days. Gap up, sideways, up and failure is my hope for am.

It sure looks like this massive quarterly up candle stick is likely to retrace at least partly eventually.

http://bigcharts.mar...&mocktick=1.png

Edited by Russ, 20 May 2007 - 04:09 PM.