ES short term trading 4/15 /10


  • 2
  • koolblue
  • 14-Apr-2010 at 5:53 PM
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Wow, some action, huh? The power in the rally off of the Feb. low is stunning (3rd waves usually are!). New highs exploded today to 611, a new rally high. This basically means that even if we tank tonite or tomorrow, higher prices eventually are likely. Im going to reprint the chart i last showed on last weekends preview because i think it may be important, and ill try to do a brief update tomorrow morning if i can stay awake!.....
Click image for original size
image
  • 0
  • i1hunter
  • 15-Apr-2010 at 1:51 PM
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moved stp up to 1208.50 and just tag me.
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  • i1hunter
  • 15-Apr-2010 at 2:02 PM
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I think that it has one more leg up. In the 2 min. chart I can count 3w and right now working on the 4? a.b.c.d.e? if so then the 5w should be up to the 1114. will see.
  • 0
  • phileo
  • 15-Apr-2010 at 2:30 PM
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I didn't see 1204.50 when doing my homework yesterday, what was so special about 1204.5 ?
  • 0
  • redsixspeed
  • 15-Apr-2010 at 3:23 PM
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Originally posted by phileo

I didn't see 1204.50 when doing my homework yesterday, what was so special about 1204.5 ?


may be a high volume area
  • 1
  • i1hunter
  • 15-Apr-2010 at 4:24 PM
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Originally posted by i1hunter

I think that it has one more leg up. In the 2 min. chart I can count 3w and right now working on the 4? a.b.c.d.e? if so then the 5w should be up to the 1114. will see.


The 2m. chart did the a,b,c,d,e and the 5w but it was very, very small 5w. I thought the 5w will subdivide.
One thing that bothered me was that the 2m. stochastic was not even in a low cycle (oversold) at the end of "e" and the 10m. stochastic was still on a high cycle or in the overbought area. If I was expecting a meaningful move, then the two stochastics should have been in the oversold area.
I hope this is some what clear.

Great work from everyone here. Thanks for sharing your way of seeing.
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