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Looks like the S&P500 may still visit 1170 regions
inspite of the recovery yesterday.
Am enclosing the chart . The possibility of the UML of
the Aqua coloured Median Line being tested for support
remains pretty good as yet. It could well happen that
we test the UML of the Blue ML set from below, the
market fades that and moves down to test the UML of
the Aqua ML set.Am still learning the use of MLs' so
could very well be I am not using them properly.
Regards
R
--- Deosaran Bisnath <deobisnath@xxxxxxxxx> wrote:
> Agree, this was a big big reversal day, up by 3 to
> 4% off the lows.
> However, I believe the terrorism and geopolitical
> stuff trump fundamental and
> technical analysis ( oooh, heresy!), especially
> since tomorrow is Friday. My
> experiences during and after 911 has taught me a few
> lessons, main one being
> don't be to rigid with the TA and fundamentala,
> especially when confronted by
> events that are far more signicicant than MACD, PC,
> overbot, oversold, etc.
>
> Hence, my forecast is for similar action as today,
> except in different
> direction:
> GAP UP, then down for rest of day, finishing at
> lows.
>
> I see they are cooperating in Globex, futures up by
> a few.
>
> Regards,
>
> --- Ben <profitok@xxxxxxxxxxxxx> wrote:
>
> > Hello
> >
> > Even when you look at the cash today's candle is
> VERY bullish
> > I never use data from before 930 am in my
> testing
> > I do not trade in this hours
> > (if I have a position trade in sp05u,) then I just
> enter in globex my stop
> > loss
> > at 20 e mini for 4 big contracts,
> > add to the bullish candle a bullish p/c ratio
> and you have the making of a
> > bullish day
> > the fly in the ointment is: new highs decrease
> drastically
> > Ben
> > ----- Original Message -----
> > From: "Deosaran Bisnath" <deobisnath@xxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>;
> <e-mini_traders_anon@xxxxxxxxxxxxxxx>
> > Sent: Thursday, July 07, 2005 8:38 PM
> > Subject: [RT] LOWS made in pre-market session: are
> they "valid" ??
> >
> >
> > > Although these days there is hardly a clear
> distinction between
> > > pre-market,
> > > normal, and after-hours sessions, with all these
> morphing into one huge
> > > contiguous continuous session from Sunday night
> Far east to Friday
> > > afternon
> > > EST, one always thought that when we refer to
> market making a high or low,
> > > we
> > > usually refer to the normal session, e.g. 9:30
> am to 16:15 pm for S&P
> > > futures.
> > >
> > > So, how about today? Those lows were made
> pre-market, and market closed at
> > > the
> > > highs, 3 to 4 % higher for the indices. Would
> you consider those lows to
> > > be
> > > "THE LOW" on a ST or IT basis? In most similar
> cases it hardly matters
> > > because
> > > the actual normal session low would not be too
> far away from the pre-mrket
> > > low....not today! Reason I ask is to define the
> low and project fro mthat
> > > point
> > > ....
> > >
> > > Regards,
> > >
> > >
> > >
> > >
> > >
> ____________________________________________________
> > > Sell on Yahoo! Auctions - no fees. Bid on great
> items.
> > > http://auctions.yahoo.com/
> > >
> > >
> > >
> > >
> > > Yahoo! Groups Links
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
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