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Master Che
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I developed my own trading system, based on magnetism (physics) and velocity vectors...I find the center of the compression, and factor time with volume which determines the outward velocity vector (linear expansion) thereby predicting price and time. I have a market update service and I manage... More
  • E-MINI 1 comment
    Oct 28, 2011 7:45 AM

    10/28/11

    Aside from consumer sentiment all other news events should be water down; in fact they’re already talking about a down revision on yesterday’s GDP.

    7:43EST

    ESZ11:

    I was expecting to reach minimum 1262.25 and quite possibly 1259.50/75 on the overnight session; it could still be early. But generally after such a large move up the overnight takes back a decent portion of the move, not doing so is bullish

    Yesterday we developed a small top pattern; although it’s a neutral pattern; which often indicates consolation; never the less ; but as in all top patterns; we have either one or two intra patterns within it, in this case its one.

    Neutral

    Down Target: 1259.50

    Up Target: 1304.50

    1281.75 is the PR

    the pattern has bounce/reversal properties (2)

    meaning at 1265.50/75 (against 1290.50/75) a bounce

    and then at 1259.50 (against 1304.50)

    Then the small top pattern is as following

    Neutral

    Up Target: 1318.25

    Down Target: 1232.00

    No bounce properties

    PR = 1283.25

    PS = 1262.25

    1273.25/75 is the nearest support (non-pivotal)

    we still have 29 hours remaining on this current up time cycle

    Yesterday crude didn’t participate in the rally (over a few days period of time this is quite bearish) and its down on the overnight session.

     

     

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  • mun2000
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    Comments (14) | Send Message
     
    why do you mean did not participate in the rally was 3 $ up ? lost 6% yesterday ?
    Still stuborn kept that short in oil from 88 .
    28 Oct 2011, 07:58 AM Reply Like
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