Amazing break down

Hands down, bears won it fair and square.
To be honest I didn't expect such a move . However I' d wait to see weekly close before drawing conclusions.
GL

Don't fall in love with shorts.

Accumulated a few calls at low 1070 on Friday .

I know everything looks so bearish uh? Specially at some blogs.
Bullish action   to resume strongly  early next week.

Keep your own analysis upfront, always. 

Daily close above 1084 = bull case stands

Pullback is likely over

The expected 1090 level was achieved yesterday. We may go a little lower ( ES1084 area) today which means a very important pivot point IT wise.
I ll give 70% chances we start a new and strong leg up from there.
30% chances we break down, in such a case expect a serious sell off.

GL

Next steps

IT stance remains bullish,

Regarding ST we had some pullback today  as expected despite huge gap up.

For tomorrow, we may have a gap up and some strength, but I believe pullback is not done yet, we still might visit 1090 or lower.

GL

Expect more pullback (weakness) on coming days

EOW update

Hi everyone,

Here is an update of the last post. Not posted much ever since, given my thoughts haven't changed much

Key levels respected:

Pattern, BBands, and MCOS all in sync as expected

And this is an updated of a chart posted on 05-25, when "doom" was all around the blogsphere :). Enjoy 

Isn't it a buy?

ST play these days

Played long from 1050 area to 1080 area a couple of times.
Expecting some pullback today, again, just to reload longs.

No changes in the road map

I am still seeing this as an opportunity to buy

GL

Roadmap

Hi,

I am sorry for my absence here and lack of regular posting. I am working and posting intraday and ST at www.tradeforthegoal.com as I commented earlier. Anyway, I wanted to share some thoughts with you before posting elsewhere:

Obviously my last support area didn't hold, bears were not done yet but I still see this is a correction (long awaited) prior to an upthrust  which may be already underway. I am aware that some well reputed traders are seeing this leg down is just starting and that it will be all the way down.

My plan is based, among other factors on:

•  the relative behavior of Nasdaq and other indices when retesting Feb lows 
•  support levels ( see 1) 
• weekly price structures ( see 2).
• Contrarian sentiment indicator (see3 )   :)

They may broke it all down early next week if they take out Feb lows with volume, else, I am sticking to this plan:

1.

2.

BBands and MCOS support:

As usual, thanks to Ui and MFC for the inspiration :)



3.   Perfect contrarian indicator. Please review this post to learn more

Clean

Open mind + deaf ears :)

(more at www.tradeforthegoal.com )