ES 10-24-08

Well, im quite certain no one believed me yesterday when i said a decline to 852 would not surprise me. Maybe you would be interested in this. I think it time to reveal the longer term price proj. for what its worth. The daily chart price proj. comes in at around 812.50. The weekly also gives 812 and a possible 777.50. The bottom of the cycle starting from 1576 bottoms initially in Jan. 09. The shorter term charts (60 min. etc.) also confirm 812 area and potentially down to 755.25. The worst case scenerio i can find on any of the charts is around 742-748. Whatever happens in the next few days,weeks and months we would be wise to remember these areas,even if not achieved soon, not for 'the bottom' but as potential turning points for decent bounces. Since they come from 'longer term' charts , they should be treated as areas for a trend change not necessarily 'exact' numbers. By the way , ive commented on the closing ticks many times. Nuff said.Also i expected a peak, from the daily charts on thursday. As we seemed to be declining into this time frame, that would simply imply very neg. cycle action. ill bet yesterdays high, or the day befores will certainly look like at least some kind of peak in the fullness of time. I could be completely wrong on everything ,of course, but just wanted to share some thoughts with my friends here on the forum. By the by, on last nights globex chart, the decline from the globex high(917.25) to the first significant pause at 2:40(863), gives a proj. to 775...very close to the 777 number from longer term charts. incidently , limit down during the day sessin would come in around 795 or so i think (not that i expect it to be seen, but since the 'triangle' on the daily charts has broken to the downside, i suppose anything is possible)

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Originally posted by redsixspeed

the lowest projection I have to the downside is 860.25 we'll see

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BTW these projections are from computer software not patterns

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Originally posted by bakrob99

Personally - I'll wait for the dust to settle before trading. There's plenty of volatility to go around without jumping in to the mess. After we get a big break one way or the other ... the play will be more obvious.

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Wait? Not a chance

breadth is starting to improve

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Originally posted by redsixspeed

breadth is starting to improve

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maby not enough

still not too late for that 93 area......well I can hope can't I?

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Originally posted by BruceM

still not too late for that 93 area......well I can hope can't I?

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you won't belive it but I have a projection to 903.50

we may not get there till next week

BOOM BOOM , out go the lights....awesome......OH how I love volume..."i'm going to Disney
world "...for real.....I'll be active again in a few weeks...good luck everyone....getting away with the family...need a break too...I'm gonna end any real time postings so if anyone has any questions regarding Volume etc then please shoot me an email....I think most follow what I do...simple stuff really

Flat and loving it...!!!

Bruce

have a great time Bruce

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Originally posted by prestwickdrive

+50% IB = 897. Sq 9s @ 886 & 901

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897 top so far

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Originally posted by prestwickdrive

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Originally posted by prestwickdrive

+50% IB = 897. Sq 9s @ 886 & 901

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897 top so far

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great call PWD. I also like to confirm areas either by pattern,
other #s i.e. so9, volume, and projections. The more I confirm
the better. Thanks for your input