Dow Intraday Charts 08 Dec - 12 Dec

[SpecialFX]

With everyone & their dog going short yesterday - what are the chances of a squeeze today?

 

[mombasa]

I'm long too from 35 - bang goes my bear flag theory !


Groan - don't tell me that was a dbl top .......

Still in, only 'cos RSI / price is weak. Fully expect this to go t*ts up now.

 

[ChartMan]

Pullback to 38%... Vol div on ES 🙁 Pullback ratio 0.5

 

[mombasa]

closed for a few points.

wait n see time .............

 

[anmolway]

chartman, do the fib levels often work intraday?

thanks

 

[oatman]

Everyone and his dog, cat, sheep, goats or whatever are already long :cheesy:

 

[ChartMan]

It's not a question of "do they work", it's a question of seeing if there is support at a particular level and do those levels correspond to a particular price or previous support. I'm no expert in the use of Fibs.

 

[mombasa]

testing 32 - little PD as well - wouldn't go short just yet 🙂

15.45 gone long again at 9934.

15.51 looks like its failing the 100MA test

15.54 closed long - short at 9927 now

1559 - testing 9920 support

16.03 - support gone 🙁

 

[SpecialFX]

Thats the last of my longs from 9885 closed @ 9913... (my hindsight system indicates I should have closed yesterday 😆)

I'm still bullish and expect 10k to be breached sometime soon but will wait for 9955 to be crossed before going long again today - and 9830 before shorting.

 

[ChartMan]

Looks to be holding 9920...

NOT 🙁

 

[mombasa]

dunno abt that CM, looks like it just overshot - getting PD again - shld have closed my short for a few points.

 

[SpecialFX]

CM, FWIW I think 9900 will hard to breach...

And when I said I will wait for 9955 before going long, what I meant was I will try a small long here with stops under 9900 :cheesy:

 

[frugi]

ES may bounce off 38% Fib 1057.5.
If not it's going down to 1052 (bottom of channel and 50% Fib). Perhaps.

 

[SpecialFX]

Looks like the NAS maybe trying to fill the gap from 24/11 ??

 

[mombasa]

Guyz - does that look like a descending tri on the 10 min chart?

 

[SpecialFX]

Mom - it did, up to about a second ago 😉

Are you long, short or flat now? For the record I'm long from 9920 with s/l under 9900...

 

[frugi]

Looks more like a rectangle that's starting to form to me, if you include some of yesterday's data, between 9917/9958, but I'm no Chartman!

Nice doji left in the 10min ES - could be a bottom. If it can surpass and successfully test the top of the 10 in channel around 1060 I'm going long. Then just the small matter of the 10 day EMA at 1062 to conquer. Twill be a struggle for the poor beasty.

Sorry to sully the Dow board with spurious ES incidentally 🙂

 

[mombasa]

still short ay 9927 - will close as soon as i get the chance to break even - otherwise estop will do me ......

think it's a scalpers day today - mind u remember skin saying that if the morning is sideways, expect a trend in the afernoon session.

BTW, we did seem to have a small inverse h&s - so maybe this is the start of a move up.

 

[Quercus]

Guys I'm currently fence sitting - partly due to a string of non-winning trades. I've had a run of a dozen losing/scratch trades and it's REALLY interesting from a psyche point of view. It seems to lead to analysis paralysis and a strong "gun shy" feeling.
Anyway not looking for sympathy but others who have been there probably know what I'm talking about!
Cheers
Quercus

 

[frugi]

There's more than one way to skim a cat :cheesy:

Aye, this could get violent once the bulls and bears sort out who's going to concede.