Edited by NAV, 18 July 2007 - 07:12 AM.
8 hours of bearishness...
#1
Posted 18 July 2007 - 07:09 AM
#2
Posted 18 July 2007 - 07:17 AM
That "breakout" could turn into just a fakeout.Yes, it was the infamous 8 hours of bearishness. 8 hourly bars on the ES 24 hour chart, which has marked the low so far. So far what we have done is the retest of the breakout area around ES 1546. Since the cash market hasn't got a chance to test it yet, chances are very high that we may retest that low on ES in the regular session. The chances of not testing it is low, but nevertheles a possibility that should be on the back of every bears mind. You never know, a huge gap-up can change everything - sentiment, momo, trend....... Let's see what the CPI brings here.
Until we have a daily close below the breakout area, odd favour a resolution to the upside. Sentiment is absolutely amazing. We had a breakout just 2 days back, which caused a lot of pain for the bears, who got caught in that squeeze. Two days later and after a mere 15 point drop, they are already getting ready to play another top. Is anyone looking for a bottom ? Like da_cheif says, fear of heights is rampant. Too few seem to be comfortable playing in this high mountain thin air. I love this game....
#3
Posted 18 July 2007 - 07:21 AM
Edited by NAV, 18 July 2007 - 07:22 AM.
#4
Posted 18 July 2007 - 07:23 AM
#5
Posted 18 July 2007 - 07:27 AM
That "breakout" could turn into just a fakeout.Yes, it was the infamous 8 hours of bearishness. 8 hourly bars on the ES 24 hour chart, which has marked the low so far. So far what we have done is the retest of the breakout area around ES 1546. Since the cash market hasn't got a chance to test it yet, chances are very high that we may retest that low on ES in the regular session. The chances of not testing it is low, but nevertheles a possibility that should be on the back of every bears mind. You never know, a huge gap-up can change everything - sentiment, momo, trend....... Let's see what the CPI brings here.
Until we have a daily close below the breakout area, odd favour a resolution to the upside. Sentiment is absolutely amazing. We had a breakout just 2 days back, which caused a lot of pain for the bears, who got caught in that squeeze. Two days later and after a mere 15 point drop, they are already getting ready to play another top. Is anyone looking for a bottom ? Like da_cheif says, fear of heights is rampant. Too few seem to be comfortable playing in this high mountain thin air. I love this game....
"Could" be genuine too.
"Could" represnts HOPE. I trade "What is", not "what should/could"
CPI is irrelevant.
Everyone knows it will be as or better then expected. Everyone knows inflation is "low".
This isn't about CPI, but about credit.
I agree CPI is irrelevant. But the CCI isn't
Holy Shmolly! The 120-min CCI is at -340 ! .
Edited by NAV, 18 July 2007 - 07:28 AM.
#6
Posted 18 July 2007 - 07:29 AM
CPI is irrelevant.
Everyone knows it will be as or better then expected. Everyone knows inflation is "low".
This isn't about CPI, but about credit.
No doubt. Bernanke's epitaph will be, "energy and food prices no longer matter."
#7
Posted 18 July 2007 - 07:49 AM
Edited by ogm, 18 July 2007 - 07:52 AM.
#8
Posted 18 July 2007 - 07:52 AM
That "breakout" could turn into just a fakeout.Yes, it was the infamous 8 hours of bearishness. 8 hourly bars on the ES 24 hour chart, which has marked the low so far. So far what we have done is the retest of the breakout area around ES 1546. Since the cash market hasn't got a chance to test it yet, chances are very high that we may retest that low on ES in the regular session. The chances of not testing it is low, but nevertheles a possibility that should be on the back of every bears mind. You never know, a huge gap-up can change everything - sentiment, momo, trend....... Let's see what the CPI brings here.
Until we have a daily close below the breakout area, odd favour a resolution to the upside. Sentiment is absolutely amazing. We had a breakout just 2 days back, which caused a lot of pain for the bears, who got caught in that squeeze. Two days later and after a mere 15 point drop, they are already getting ready to play another top. Is anyone looking for a bottom ? Like da_cheif says, fear of heights is rampant. Too few seem to be comfortable playing in this high mountain thin air. I love this game....
"Could" be genuine too.
Nav, do you know a charting site that offers the ability to put up a 120 minute window. I am trying to learn but can't do it with the charts I have access to. The most it goes to is hourly
"Could" represnts HOPE. I trade "What is", not "what should/could"
CPI is irrelevant.
Everyone knows it will be as or better then expected. Everyone knows inflation is "low".
This isn't about CPI, but about credit.
I agree CPI is irrelevant. But the CCI isn't
Holy Shmolly! The 120-min CCI is at -340 ! .
Remember this day, men, for it will be yours for all time.
#9
Posted 18 July 2007 - 07:57 AM
That "breakout" could turn into just a fakeout.Yes, it was the infamous 8 hours of bearishness. 8 hourly bars on the ES 24 hour chart, which has marked the low so far. So far what we have done is the retest of the breakout area around ES 1546. Since the cash market hasn't got a chance to test it yet, chances are very high that we may retest that low on ES in the regular session. The chances of not testing it is low, but nevertheles a possibility that should be on the back of every bears mind. You never know, a huge gap-up can change everything - sentiment, momo, trend....... Let's see what the CPI brings here.
Until we have a daily close below the breakout area, odd favour a resolution to the upside. Sentiment is absolutely amazing. We had a breakout just 2 days back, which caused a lot of pain for the bears, who got caught in that squeeze. Two days later and after a mere 15 point drop, they are already getting ready to play another top. Is anyone looking for a bottom ? Like da_cheif says, fear of heights is rampant. Too few seem to be comfortable playing in this high mountain thin air. I love this game....
"Could" be genuine too.
Nav, do you know a charting site that offers the ability to put up a 120 minute window. I am trying to learn but can't do it with the charts I have access to. The most it goes to is hourly
"Could" represnts HOPE. I trade "What is", not "what should/could"
CPI is irrelevant.
Everyone knows it will be as or better then expected. Everyone knows inflation is "low".
This isn't about CPI, but about credit.
I agree CPI is irrelevant. But the CCI isn't
Holy Shmolly! The 120-min CCI is at -340 ! .
If you are looking for a free one, try www.Prophet.net. Most of the paid ones offer that capability like e-signal, tradestation, etc
#10
Posted 18 July 2007 - 08:01 AM