$ES_F +4.25. Key area 881-883 - 50 ema hrly, multiple time s/r area and weekly 50%, above 895-898 http://twitpic.com/9qmm4 $$
Market Analysis for July 8th, 2009
another chat related message, seems some people are still having trouble finding it and or logging into it.
It is located in the top toolbar “Free Trader Chatroom”
You DO NOT HAVE TO REGISTER , simply enter you nickname and join the chat, if your nickname is taken or registered for some reason, pick anything other nickname, it will let you in, we can address issues once you are in the chat.
Hope to see you there for nocturnal lunatic trading session as well as market hours tomorrow
WOWie! What a day!
- Registered 11 day low $tick
- 36 day high $tick
- Highest volume in a month
- Reached some very VERY oversold conditions throughout the day
- SP500 cash managed to close back above the neckline, very important level for both bulls and bears
- All above listed facts describe reversal day in the making, will have to step back and take a look at everything top down
- Put call closed at 1.0566 , bullish.
- bears managed to break support on highest volume of the month, thats a big plus, since this pattern requires confirmation yet failed to close below it
- some chart work to do today
Will put together a summary of play by play events in the market today, it was rather technical. And it wont be one of those retro analysis draw draw a trillion lines and then pick out the ones that mattered type deals. All development were twitted about on @esecfutures
Analysis posts will be up later tonight also.
have a great rest of the day
Today’s ES opening range is 880.25 - 881.5
With key level 882 (see daily update) that has already been tested 3 time overnight.
Game is simple, above opening range and 882s bullish.
Below opening range neutral-bearish
All key levels from 7/8/9 Market Preview post are in play
Good trading today
seems that after switching to new chat program some of the regulars are missing and some had hard time finding new chat.
It is right in the top toolbar “Free Trader Chatroom”, simply click on the button, put in a name and join , no registration needed at this time!
Hope to see you there