Comments on: ES should see sub-1000 today http://www.mylifemytrade.com/2009/08/es-should-see-sub-1000-today/ Sat, 04 Sep 2010 09:19:32 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: MyLifeMyTrade http://www.mylifemytrade.com/2009/08/es-should-see-sub-1000-today/comment-page-1/#comment-393 MyLifeMyTrade Tue, 11 Aug 2009 00:33:37 +0000 http://www.mylifemytrade.com/2009/08/es-should-see-sub-1000-today/#comment-393 When ES dipped below 1000, market accepted those levels. There was no impulsive move up on big volume to the upside. That is the first hint that we have lower values ahead. When ES dipped below 1000 for the 2nd time, values stayed there for even longer. SPX 1000 was not breached, as expected.... psychological values like 1000 are not breached on first attempt. It will be on the 2nd attempt (or there could be a gap down to under SPX 1000). My guess is that first dip below SPX 1000 will be pushed up... possibly the 2nd dip below SPX 1000 will stick.. and will take ES to 970 region over the next few days. <br><br>IMO the move up towards end of the day was a fake make. The market action near ES 1000 clearly suggested that lower values lie ahead. When ES dipped below 1000, market accepted those levels. There was no impulsive move up on big volume to the upside. That is the first hint that we have lower values ahead. When ES dipped below 1000 for the 2nd time, values stayed there for even longer. SPX 1000 was not breached, as expected…. psychological values like 1000 are not breached on first attempt. It will be on the 2nd attempt (or there could be a gap down to under SPX 1000). My guess is that first dip below SPX 1000 will be pushed up… possibly the 2nd dip below SPX 1000 will stick.. and will take ES to 970 region over the next few days.

IMO the move up towards end of the day was a fake make. The market action near ES 1000 clearly suggested that lower values lie ahead.

]]> By: bob http://www.mylifemytrade.com/2009/08/es-should-see-sub-1000-today/comment-page-1/#comment-392 bob Tue, 11 Aug 2009 00:02:38 +0000 http://www.mylifemytrade.com/2009/08/es-should-see-sub-1000-today/#comment-392 why does it have to drop? why does it have to drop?

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