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Hands up you called it Josh! That was a pretty aggressive move too.

 

I bought just before the news, and scaled one as it looked a bit cautious, and had 2 units left, but accidentally scaled out one at the same place I scaled the first in a classic fat finger moment!! :crap: So, I only had one left and got flat at 68. Execution mistakes suck!

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btw, the premise was that overnight stayed above yesterday's range the whole time. That alone gave me a bullish bias towards the open. The move down just before open and into yday's range had the look of a shakeout. It was struggling to push up, but struggling even harder to go more than 4 ticks below yesterday's high. "Official" gap fill at 62.75 complete helped too. Found support at yesterday's high twice after the gap fill, and knocked on the door again just before news, but even with ho-hum numbers it had the juice to push north.

 

As of now I'm still looking to buy, but not quite as clear a frame of reference as before, as we are more "in the air" above yday's range. I would not be surprised by moves either way at this point.

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any midpoint test here could be important.

 

Good point. 66.75 is mid currently, could be a classic R becomes S, and VWAP will be about a tick below that too. 66s could be a good buy.

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btw, the premise was that overnight stayed above yesterday's range the whole time. That alone gave me a bullish bias towards the open. The move down just before open and into yday's range had the look of a shakeout. It was struggling to push up, but struggling even harder to go more than 4 ticks below yesterday's high. "Official" gap fill at 62.75 complete helped too. Found support at yesterday's high twice after the gap fill, and knocked on the door again just before news, but even with ho-hum numbers it had the juice to push north.

 

As of now I'm still looking to buy, but not quite as clear a frame of reference as before, as we are more "in the air" above yday's range. I would not be surprised by moves either way at this point.

 

I didn't feel we'd show the strength we did. Even so, the 70.50 mentioned area has so far capped the highs. That current low was the last volume development yesterday rth btw.

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I'm not a "geometry" guy and I don't usually pay much attention to measured moves and the like, but this extension would coincide nicely to fill the gap from last week. I'm looking for 74.

5aa710f145ce2_4-24-201210-37-24AM.thumb.png.66c8ca5836001a724604c674a7b904d4.png

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I'm not a "geometry" guy and I don't usually pay much attention to measured moves and the like, but this extension would coincide nicely to fill the gap from last week. I'm looking for 74.

 

Haha! But you see how it can give you possible confluence. Just so long as you don't get married to it - but that's the same with everything.

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Call me chicken, but I'm out 1/2 at 70.50 instead of 72

 

And I'm out flat at 68.75, a tick from scratch on 2nd half. Don't like the failed BO above the high.

 

I like the long at 68 but missed it, I will look to jump in here perhaps, though vwap a few ticks below is tempting to wait for.

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66.75 line in sand for longs... If we take high then gap fill & potenrtial to 77.00 area... poor high so far... covered short sitting long..will reshort if lvn 66.75 taken out... imho... See U later.

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66.75 line in sand for longs... If we take high then gap fill & potenrtial to 77.00 area... poor high so far... covered short sitting long..will reshort if lvn 66.75 taken out... imho... See U later.

 

Good luck Tom, I am also long from 68.75, and will scale 1/3 at the high, and if we can get some volume, will look for 74.

 

I expect a retest of 71 either way, but we really will need some more buying pressure up here to break through. The way it's slowed to a crawl, 71 might be hard to get given that everyone just fell asleep ;)

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Anyone would think ES & NQ aren't correlated:-

 

attachment.php?attachmentid=28697&stc=1&d=1335279125

 

Edit: sry chopped off symbols. ES left NQ right.

 

It's all in the components. They're correlated to begin with before comparing charts.

 

SPX sits in the middle between NDX and INDU. I liked it when there were no NDX stocks in the DOW 30. The comparison was "purer" without overlapping components.

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I added here at 67. This (or maybe a bit lower) is actually the best buy opportunity so far. I think there's a slightly greater than a snowball's chance in hell that 71.25 is not touched again, but we will see.

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I added here at 67. This (or maybe a bit lower) is actually the best buy opportunity so far. I think there's a slightly greater than a snowball's chance in hell that 71.25 is not touched again, but we will see.

 

This is a single caveat day-->going to test first extreme. (1362.75)

 

Of course, we all make our own trade decisions.

 

PS. What is an incoming friend request?

Edited by gosu

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PS. What is an incoming friend request?

 

It means I want to be your friend. :D

 

I am "friends" on TL with several great people, many on this thread, although Tom has apparently snubbed me so far. I was inviting you to be my friend.

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