Yesterday's end of day selloff on ES was very bearish. It provided us with a lower high compared to the high on 8/10 at 1125. From 1125 to 1098 you can draw a downtrend line. ES failed to break through this trendline on multiple attempts yesterday. If ES can't break this trendline today (and I'm betting it doesn't) then ES is headed to 1050 as you have suggested.
Naveedah, you are one heck of a fan. You can't resist signing off without a grandiose prayer to Carl. I think Carl's performance had suffered somewhat since you started extolling him no end. I'm glad to see Carl back in his winning ways today.
Yeah we did break through that trendline but I'm not convinced that the downtrend is over. ES 1102 is the 61.8% retracement from the 1125 high to the 1066 low, furthermore it is gap resistance. If ES blows through 1102 then I'll concede the downtrend is over. At any rate, nice trade Carl.
The 1089.5 long was spot on right before the move up. I got suspicious at 14:01 at 1099. The reactions afterwards were telling me that a selloff is coming. Hard battle between 14:05 and 15:05 but then it just went down. As I write this, it just plunged 5 points to 1088. So were are were were in the morning...
Today's g.est were 1084--1104. 1084--1086 strong consolidation was observed then 1098 ppl started selling and 1097.75 to downward selling was accompanied by shorts.Now 1082 is the next major level on down side. Sentiment had become so negative that upside surprises are possible. The next two nights will be very busy for tech (AMAT, BRCD, NTAP tonight and CRM, DELL, HPQ, INTU, MRVL Thurs night). Respect you Sir! GN!
Yesterday's end of day selloff on ES was very bearish. It provided us with a lower high compared to the high on 8/10 at 1125. From 1125 to 1098 you can draw a downtrend line. ES failed to break through this trendline on multiple attempts yesterday. If ES can't break this trendline today (and I'm betting it doesn't) then ES is headed to 1050 as you have suggested.
ReplyDeleteIt's comin'on closing time.
ReplyDeleteListening song"ALL The Way Home"http://listen.grooveshark.com/#/s/Tomorrow+Never+Knows/2zgYXC
Believe in Carl and make trades easy like me& my friends.
What a day!
Thank you ,Carl!
WE ALL NEED YOU!
Great Call on ur trade Carl!
ReplyDeleteCongrats
out @1097.
ReplyDeleteThanks.
Spycharter, it looks like you just lost that best in that the SPX just traded through the trendline you mentioned.
ReplyDeleteNow let's see if Carl's 1104 target is hit before the close the of cash market.
Today's guestimate called for a low at 1084. The market actually traded as low as 1083.75. From my standpoint that's a direct hit.
Great call Carl.
Larry
This comment has been removed by the author.
ReplyDeleteWe Are Out 1097.75
ReplyDeleteNaveedah, you are one heck of a fan. You can't resist signing off without a grandiose prayer to Carl.
ReplyDeleteI think Carl's performance had suffered somewhat since you started extolling him no end.
I'm glad to see Carl back in his winning ways today.
Yeah we did break through that trendline but I'm not convinced that the downtrend is over. ES 1102 is the 61.8% retracement from the 1125 high to the 1066 low, furthermore it is gap resistance. If ES blows through 1102 then I'll concede the downtrend is over. At any rate, nice trade Carl.
ReplyDeletelooks like they want to tag 1100 today!
ReplyDeleteex
The 1089.5 long was spot on right before the move up. I got suspicious at 14:01 at 1099. The reactions afterwards were telling me that a selloff is coming. Hard battle between 14:05 and 15:05 but then it just went down. As I write this, it just plunged 5 points to 1088. So were are were were in the morning...
ReplyDeleteToday's g.est were 1084--1104.
ReplyDelete1084--1086 strong consolidation was
observed then 1098 ppl started selling and 1097.75 to downward selling was accompanied by shorts.Now 1082 is the next major level on down side.
Sentiment had become so negative that upside surprises are possible. The next two nights will be very busy for tech (AMAT, BRCD, NTAP tonight and CRM, DELL, HPQ, INTU, MRVL Thurs night).
Respect you Sir!
GN!