22 replies to this topic

[NAV]

Don't tell me i didn't warn ya . Folks, i am sure you notice that we are having a ISLAND reversal on the ES.

Again, it's only a Island reversal, if the gap does not get filled. If the gap does not fill, then it's a breakaway variety and that would only confirm my wave 3 of 3 scenario.

Edited by NAV, 19 July 2007 - 07:44 AM.

[OEXCHAOS]

Yeah, it looks pretty Bullish, but I've got a funky high -volume stick that implies that they may bring it right back to fill the gap. I have to commend you though on seeing what was going to happen early and getting in there and holding. I think we've got some overhead that could be a problem however. Mark

[NAV]

Ok, took 14.5 points profit on another 1/3 of my ES position at 1562. Will hold the rest 1/3 into whatever exhaustion this move is gonna bring. Profits are good. It elevates the mood And still got those IWM calls.

Edited by NAV, 19 July 2007 - 07:52 AM.

[OEXCHAOS]

You know, the impressive thing was that you saw strength coming in the IWM. I didn't. I figured it would lag badly, and that the place to play was in the Nasdaq (not that the Naz WASN'T...). What did you see?

[rkd80]

Nav, ES 1565 is pretty impressive overherad resistance you think there will be enough juice to break through it?

[eminimee]

1556.18 and 1561.80 spx come back into play...a close above 1561.80...and we are going higher....either of those two numbers could top us.

[NAV]

You know, the impressive thing was that you saw strength coming in the IWM. I didn't. I figured it would lag badly, and that the place to play was in the Nasdaq (not that the Naz WASN'T...).

What did you see?

Just the momo thing. I noted about the unusually oversold condition on the hourly CCI yesterday morning. ER2 was more deeply oversold than the ES. So the snapback on ER2 was expected to be more stronger than ES.

Edited by NAV, 19 July 2007 - 08:38 AM.

[rkd80]

1556.18 and 1561.80 spx come back into play...a close above 1561.80...and we are going higher....either of those two numbers could top us.

tea, how did you calculate the 1561.80 number?

[NAV]

Nav,

ES 1565 is pretty impressive overherad resistance you think there will be enough juice to break through it?

rkd,

I know one thing. If the gap does not close by 10:30 Est, bears are in serious trouble. Momo of the move is very high. I don't think 1565 would prove formidable.

[rkd80]

Nav,

ES 1565 is pretty impressive overherad resistance you think there will be enough juice to break through it?

rkd,

I know one thing. If the gap does not close by 10:30 Est, bears are in serious trouble. Momo of the move is very high. I don't think 1565 would prove formidable.

*nod* you are good Nav, that is all i gotta say. real good.