ES-09-12-08

COMMENTS: I expect the market to be down hard today. Yesterdays impressive 340 point turnaround in the dow had a negative advance- decline! Although i suppose i could claim victory at the achievement of my long sought after 1210-1211 being hit(1211.25 basis sept.)I just dont see the signs of a real tradable bottom. The vix never made it past 26.25 and on a good bottom it should spike over 30. Im expecting a general trend up into the election, since this whole bear market we havent tested the 200 day mov. avg.(currently at 1350) even once. So has the 45 day cycle bottomed? have we started our expected rally? Time will tell, but one last thrust down would not surprise me.

Looks like the Ticks won!!

The VIX is about a point higher than it was at the ES HOD. On the BAV study big money has not participated in this ES rebound.

Big $ did a net buying spike on the break of 52.0 so they may defend that on any pullback.

The unfulfilled 80% rule to 59.25 from Wednesday was fulfilled just prior to the close. We have an unfulfilled 80% today to the 23.75 area though.

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Originally posted by redsixspeed

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Originally posted by day trading

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Originally posted by redsixspeed

Brad's support/resistance levels: SPY 123.90/126.20 DIA 113.40/114.85 QQQQ 43.15/44.20 IWM 70.95/72.10 YM 11290/11480 NQ 1760/1805 ER 710/725 ES 1265-R1 1225-S1 1235-PP

This is the ThinkorSwim shadowtrader (Brad) s/r areas for 9/12

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redsixspeed - have you checked with ThinkorSwim/Brad that it's okay to post his levels here?

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I'am not going to post anymore

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redsixspeed - We appreciate you posting this information but we also want to make sure that the copyright owner of this information is also okay with you posting it.

I've always wondered about copyright and technical analysis. Copyright violation would mean that you are using the copyright for financial gain and that you copied from a protected medium. Posting levels is not copying a medium any more than retelling a joke from the previous Leno. The levels are a concept and to my knowledge no one has a copyright on the infinite number of integers. Furthermore, prove in court that there is any financial gain from technical analysis. The consensus is "random walk" and that there is nothing to TA. The real issue is whether or not there is a contractual relationship between the originator and the secondary publisher. i.e. non-disclosure agreement which if revealed on a forum, the originator would not have standing to sue since the forum is not a party to the contract

AS to pirated indicators, they are only mathmatical formulas and have no value. If you have the recipe for Coca Cola gained by quantitative analysis you can go ahead and make it since to patent it, the owners would have to reveal it. If the owners of a technical analysis indicator want a design patent they would have to reveal it, thus rendering it useless. I mean imagine if Pythagoas had been able to patent A squared plus B squared = C squared, it is just a concept. Or if Rodney Dangerfield gained a protection for "I went to a prize fight and a hockey game broke out", we would all owe his estate money. Just musing.....

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Originally posted by day trading

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Originally posted by redsixspeed

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Originally posted by day trading

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Originally posted by redsixspeed

Brad's support/resistance levels: SPY 123.90/126.20 DIA 113.40/114.85 QQQQ 43.15/44.20 IWM 70.95/72.10 YM 11290/11480 NQ 1760/1805 ER 710/725 ES 1265-R1 1225-S1 1235-PP

This is the ThinkorSwim shadowtrader (Brad) s/r areas for 9/12

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redsixspeed - have you checked with ThinkorSwim/Brad that it's okay to post his levels here?

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I'am not going to post anymore

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redsixspeed - We appreciate you posting this information but we also want to make sure that the copyright owner of this information is also okay with you posting it.

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DT: The calculations for the levels of the shadowtrader are published
@ their web site, and can be seen at no cost (free). The information is there for all to use. Some may not know this. Even so; I will not post them again.

anyone take the minus 4 area long on Friday..into that key 31 - 35 zone..( from thursday).with the high volume and low tick spike....and did you target those gaps in the overnight at the plus 8 number....a very cool trade....maybe the chart will post this time



Looks like I need DT's help again

How would you feel about starting a seperate thread to discuss your charts and the meaning? I've always been fairly baffled by bid / ask and the big boys etc.....you seem to have a good grip on it...this way others can join in without having to sift through all of our day trading posts....


I'm hoping Kool will do the same thing if he decides to share how he trades.....he's more of a scalper and to be honest I don't have time to read and match up the numbers from the trade calls as I'm busy trading myself. I think seperate threads would generate more interest from those who have real jobs and review this stuff EOD.

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Originally posted by prestwickdrive

Big $ did a net buying spike on the break of 52.0 so they may defend that on any pullback.

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I agree Bruce. I work a full time job and do trading only on the side since I am still learning the ropes. All you guys have so many great ideas but usually I have to sort through the trading posts to try and learn them. I know that all of you are busy trading in the day but even if you can impart some knowledge at the end of the day in a separate thread, it would be very useful to novices like me.