See how they want this over the 2009 high on the ES?
1124.25 decent resistance with 1127.50 as a target and then try to lift that as well.
the futures are the tail wagging the dog now.
you talking about the futures?
1127.50....final level of resistance that I can see on an hourly chart beyond the 1124.25 area.
Here's what I see.
1127.50.....last major swing......on daily chart....try to test that pivot......
1152.50....why.......open gap on ES futures. Could fill
1194.25 same reason.......
take out the 2009 highs again and NOT HOLD them......all bets are off. The abyss has not changed......under 1000....go to the 52 week low.....where ever that happens to be when we get there.
Have I even said a thing about moving averages? You really don't need to use them because the truth is that they lag anyway.
Why is 1119.50 important today? Because it's the globex pivot and midpoint. So all the traders are circle jerking around it placing their bets.
1117.50.......2009 high.....want to own it over that? Apparently that is the big level until it is not.
Is there a reason in the world to touch that stock?
They took that thing almost back to the May high.
So much easier to just go in and out of the futures.
1114......air pocket...they want the 1127.50 so bad......they are drooling but to many longs will sell to them up here too.
If they do not get that 1127.50 soon, this is going to fail and head down. Stop runs....all I saw was stop runs so far.
strategist came on and this the most bullish he has been in 25 years and late 2011 the market will me substantially higher because of the lack of bad news.
He has to be correct because he was on CNBS. And they even said, he is not a perma bull. They talk I listen!!!!!!!!!
The way I am trading this is the way I always trade it.
Range Extensions I sell. But it has to be the correct set up.
I don't know if you count bars in between pivot points but when I get a cluster of bar highs, then I sell that.
SO we have a 5 bar high on the weekly chart and a 20 bar high on the daily....fine.....push it up I will feed some.
Ultimately we are barely over the 2009 highs. Whatever. Scammo street counts on most people to not do their homework.
Great work fandango. But as crazy as this sounds, 115 is still a possibility.
I bet I get attacked for saying that.
1117.50 is a key level. It's been the key level for a few days.
That is the 2009 high. Once that level finally fails, and the bulls do not hold it, I suspect back down to the 1080's or so.
For me the key was also putting that douche bag on CNBS from Morgan Stanley yesterday. Give me break. Saying that equities would be substantially higher in 2011?
Got the magic 8 ball I guess.
1100 cars is not alot. I am surprised that there has been no gap fill yet on the ES.
Notice the 1117.50 protection. That is the agenda.
the push was during gloebex session So yesterdays high is still intact.
expect a try for the globex high.
that's gonna decouple. Dollar down stox down too.
I whacked the 23.75 out of boredom.
Maybe we get 29's 2 moro. But the bulls seem uninterested in buying up here for now. More of some anal probing going on.
Big shorty is coming in to sell the pops at these levels.
At least in the ES. When they pop it up it's now a clean up job so far after the price falls.
The daily weekly and intraday charts are in alignment now when they pop it. Even if they make a new high, they align, and then it falls and the bulls have to clean up the mess.
Just wait for the alignment and hit it. Let them push it all they want at this point. When they align, it's all good.