Trading the SPX

firewalker99 said:
Those trading the ES might be interested in the overnight action.

I posted an analysis over the weekend in the private forum of Grey1. It explains why 1405 might be more important than 1400 on the ES. For those who don't have access to it, I copied it over here:
Click to expand...


Then again the alternative could be that resistance could be found here also:)
 

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erierambler said:
Then again the alternative could be that resistance could be found here also:)
Click to expand...

True, but that's the last barrier I'm looking at. If it does go to there, it will have broken the downtrend line though...

There are several layers to work through imo, but we can only follow what price does ... and right now it rejected 1405 in the pre-market action so the 'potential' of that resistance has been confirmed.

I see your line coincides with the 1425 I had in mind (y)
 
firewalker99 said:
True, but that's the last barrier I'm looking at. If it does go to there, it will have broken the downtrend line though...

There are several layers to work through imo, but we can only follow what price does ... and right now it rejected 1405 in the pre-market action so the 'potential' of that resistance has been confirmed.

I see your line coincides with the 1425 I had in mind (y)
Click to expand...

Actually it is possible for price to pierce through the downtrendline maybe to 1438. If people are bearish , a run in on the shorts could be interesting. Then again we know, we don't really know, :) but it is good to have levels ready to anticipate :)
good trading to ya
 
Last edited:
erierambler said:
Actually it is possible for price to pierce through the downtrendline maybe to 1438. If people are bearish , a run in on the shorts could be interesting. Then again we know, we don't really know, :) but it is good to have levels ready to anticipate :)
good trading to ya
Click to expand...

Erie, Why 1438?

Good trading to you too.
 
Kerkorian now has over 5% of Ford. Bought at knockdown prices. Mr. K has a good track record so .............. unless he is being patriotic ?
Patriotism can be fatal for investing.
 
A strong protest vote against Labour expected on Thursday local elections
 
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market is very flat right now ?
 
Pat494 said:
I guess from that - you have been long for a while ?

This poor old country boy may be a bit behind you big city folk !
Click to expand...

No, I was short from just before the open. I had hoped it would go further down, but I closed out for a small profit... Gotta take what's available. I didn't reverse long, so I'm just sitting here, watching :)
 
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