ER2 charts

futures live trades

Moderator: moderators

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Thu Apr 26, 2007 8:52 am

on the daily chart, the price action is still drifting up inside the wedge, these usually end up with a sharp move when they give up. the 60 minute chart shows the breakout which compliments the triangle on the daily chart, and seems to lend itself to a bulllish posture. All this is BS. What counts is what happens next as it unfolds. The trend can change at anytime, when it does, the immediate previous support will be used for resistance. the first sign of trouble for the bulls will be a 100% retracement back to the last minor bottom [LMB]. then a break, then it gets used for resistance. right now that spot is 825, as time goes by and the chart changes, that number will change to what ever the last minor bottom is. it pays to keep track of those things.

Image

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

bearwatch
rank: <50 posts
rank: <50 posts
Posts: 31
Joined: Tue May 30, 2006 9:44 am
Reputation: 0
Gender: Male

Postby bearwatch » Thu Apr 26, 2007 9:48 am

I can only see a range building in the 825-838 area. I'm staying out until the break up or down from this range.

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Mon Apr 30, 2007 12:42 pm

daily chart here, 835 is barely hanging on for support, if this level gets broken and used for resistance, then down we go and the wedge breaks. we should see a sharp move one way or the other very soon. 838.7 was the all time high, so far the price action has not broken it decisively and used it for support....there is a divergence between this index and the others. some will try to read into this as lagging small caps will lead to a market decline....I wouldn't do that....just trade each chart on it's own merits.

Image

bearwatch
rank: <50 posts
rank: <50 posts
Posts: 31
Joined: Tue May 30, 2006 9:44 am
Reputation: 0
Gender: Male

Postby bearwatch » Mon Apr 30, 2007 6:50 pm

Looks like Head-and-Shoulders will meet target faster than expected.

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Tue May 01, 2007 6:55 am

textbook action for the pattern....

Daily chart shows a double top breakdown with a target of 800

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

60 minute chart

Postby humble1 » Tue May 01, 2007 4:00 pm

back to the gap from the beginning of April. target for the double top is also 50% retrace.

Image

bearwatch
rank: <50 posts
rank: <50 posts
Posts: 31
Joined: Tue May 30, 2006 9:44 am
Reputation: 0
Gender: Male

Postby bearwatch » Wed May 02, 2007 2:27 pm

Strong comeback late afternoon with good volume. 825 was 50% retrace but that's been broken. But I still see the wedge on daily setting up here correct?

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Wed May 02, 2007 2:58 pm

typical snap back move after the wedge broke. 835 is trendline resistance....830 thru 835 could be shortable pending how it sets up on the tick charts.

smal inverted HnS bottom target is 832.6 on the 1100 tick chart.

bh_trade
rank: <50 posts
rank: <50 posts
Posts: 20
Joined: Wed Jan 17, 2007 2:09 am
Reputation: 0
Location: Houston, TX
Gender: None specified

Postby bh_trade » Wed May 02, 2007 6:49 pm

ER2 acts very,very short today. Of course it was sold harder than any other stock indice on Monday. Went all the way down to touch its 100day MA. Without exception the other indices not only could not reach their 100 day MA's, they couldn't even sell down to their 20 day. Not suprised to see a strong short cover here

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Wed May 02, 2007 8:58 pm

bh_trade wrote:ER2 acts very,very short today. Of course it was sold harder than any other stock indice on Monday. Went all the way down to touch its 100day MA. Without exception the other indices not only could not reach their 100 day MA's, they couldn't even sell down to their 20 day. Not suprised to see a strong short cover here


I dunno...i saw the bottom patterns start kicking in and playing out on the 600 tick chart when it tested that open gap again. bears seem very timid and easily spooked. bulls seem to jump in on every dip, so that's the play till it quits. max upside for that flag is 842......

Image

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “futures”