[RT] es60min

["ChasW" <cwwaring@xxxxxxxxxxxxxx>]

could retrace to 1241 and still be in this down fork

 

nothing stopping it til 1222 which is between 62-78% of the up move

----- Original Message -----

From: mr.ira

To: realtraders@xxxxxxxxxxxxxxx

Sent: Wednesday, September 14, 2005 5:06 PM

Subject: Re: [RT] ESZ 15 min

Today's lows in the EZ Z were an intra day target on the 60 min chart.  There should be support here and a retracement or at least some horizontal price action at this level.  At that point one can see which trade is next, the up move or the down move.  If the EP for the retracement is hit, price could carry to 1239.  One should take note that you are in the up trade until 1185 is taken out.

 

IF the greater pain theory is to work at this expiration then the SPX will go out at 1225,

 

Just some idle thoughts.  Ira.

 

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