Boom.

Did not try to trade it, don't like that washing machine environment. Anymore. But I have taken that a lot in the past.



The background story is not just gunslinging. We have an intermediate potential 5WM down, and ABC up, then a retrace to the 786 with volume confirmation throughout the RTH.

So now, we have;

1) A very shapely intermediate 5WM down (fibs were not exact, snap was off, but the idea is there)
2) The anticipated ABC up (C leg this morning)
3) Bull defense of price around 91.80 - 92.30


Despite the potential of seeming insane, after no short trades all day, I am staying faithful to the long side. It is so much easier than changing my mind.

I figure I have to be right eventually, here, or 90, or 75...

Brutus 

If yesterdays TPO Ledge at 9345 holds we could see a swing down to Fridays low

Please include pics with your comments if you can. I think it's makes it easier to follow the discussion when we can see what you are talking about.

Thanks

Surly 

Ha! I think what Bernanke's saying is completely correct given that he can only work with monetary policy. The news stories are mistakenly calling his actions a Fed "stimulus" - stimulus is the wrong word because its a fiscal policy term, not a monetary policy term. His admonitions to congress about fiscal spending cuts are right on.

I am not intelligent enough to actually listen to what he has to say. I just know that him being on television has screwed up my trade more than once.

kulu 

Please include pics with your comments if you can. I think it's makes it easier to follow the discussion when we can see what you are talking about. Thanks

I would if I could. I dont have a TPO chart, so you just need to refer to other posters charts.

Overlapping corrective behavior still in play, but decent pre-market volume response to potential minor trendline, most likely in response to Durable Goods at 8:30am.




My apologies, the data is running but the indicator stopped recording. Yesterday's RTH POC established at around 92.58

Simular situation as yesterdays open



Want to see a hold of this bracket low and upwards price rotations though yesterdays range

Possibly price exploration to the highs of the bracket



we have excess from yesterdays "C" period around $93.30...lets see how the markets responds in this area if we get there

HUGE absorbtion at pit open prior 786 92.25





Well, I guess 5k would be HUGE, but 2k is something to see regardless

Pre EIA balancing?

Heavy push from the short side could cause significant continuation if they need to cover, 93.08 / 93.45