Something i am concerned about here....
#1
Posted 19 July 2007 - 10:31 AM
#2
Posted 19 July 2007 - 10:37 AM
The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.
No problem. Thanks for the update. Things change and we have to remain flexible if we are to survive. That's what makes us better at not being fooled and broke.
Remember this day, men, for it will be yours for all time.
#3
Posted 19 July 2007 - 10:41 AM
The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.
Thanks for the momo update, cash has to hold here at the 1550 area then hit 1560 for my pattern, shorting the futures as close to 1570 as possible.
LT d:^)
#4
Posted 19 July 2007 - 10:45 AM
#5
Posted 19 July 2007 - 10:45 AM
The momo just died. Ideally for the wave 3 of 3 scenario i presented, we should have just gapped up and run. It did not happen. It's still not too late. But, unless we see a significant acceleration into the close, the next hourly sell will turn into a disaster. Cuz without a significant acceleration here, my daily will move into a sell by EOD. So, put in me in the category of a cautious bull here, rather than a raging bull that i was in the morning.
I see the same thing. The measurement and pattern off of yesterdays lows could have produced a 7/12 type move. Now it could just be an equal distance chop like we saw a couple of weeks ago. I'm not going to be shocked if we trade 1542 (ES) again to-morrow.
#6
Posted 19 July 2007 - 10:50 AM
#7
Posted 19 July 2007 - 11:11 AM
Edited by SemiBizz, 19 July 2007 - 11:16 AM.
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#8
Posted 19 July 2007 - 11:13 AM
Now "7 of 9" ... thats the stuff
Edited by ogm, 19 July 2007 - 11:14 AM.
#9
Posted 19 July 2007 - 11:31 AM
#10
Posted 19 July 2007 - 11:35 AM
News at Noon goosed the futures a bit, and we have Fed mtg minutes at 2pm. The Fed news release has initiated volatility in the markets the last few months. A push thru 1566 ES should hit enough stops to get to the 1570 level, and then we can see what happens after 2:30pm.
I agree. That's my thinking too.