Another gap up but within yesterday's range so the gap may get filled. The regular hour ES still looks like a Descending Triangle while Global ES is at a key point: clearly it's a big consolidation range or Rectangle so it's more likely to continue down but it's also very possible to breakout on the upside because it keeps getting higher low and now is above the mid line of the range. So let's wait and see. Both bears and bulls need pray: may the force be with us!
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cobra good morning. thank u for being with us every morning.. !
if we break to the upside you think this leg down is over? and are you looking at 117 . ? for the next target in the upside?
grachu wrote:cobra good morning. thank u for being with us every morning.. !
if we break to the upside you think this leg down is over? and are you looking at 117 . ? for the next target in the upside?
I've marked the target on the chart.
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For QQQ: a 5-th day of HOD at opening?
My bet: NO!
So, this time I shall not short within the first 5 min…LOL! I'll wait for the 30 min opening range, for all indices…
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I have no over-night short positions for indices or deriv.
Thanks for all the posts and sharing your expertise.
Did u get a chance to look at PUG's long term chart..
Thanks
no
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Morning everyone. I guess I've only looked at the regular hour ES. What is the global ES, and what is the symbol? On TS, I use @ES ....any idea what the global ES would be? I can't find it on google
Today's Economic Calendar
8.45 Greenspan Speaks at Washington Convention Center
10.00 New Home Sales (est 310k saar)
New home sales: We look for new home sales to decline 0.8% m/m, to 310,000 units in July, and for months supply to tick lower to about 6.0 months as inventory levels continue to decline. New home sales have been stable in Q2 at an average of 315,000, but we expect the decline in MBA applications for purchase in June and July to move them a bit lower this month. New home sales had been range bound between 275,000 and 331,000 since last May, when the effects of government stimulus on housing activity began to wane; we look for them to remain in this range until months’ supply declines further.
trader0303 wrote:Morning everyone. I guess I've only looked at the regular hour ES. What is the global ES, and what is the symbol? On TS, I use @ES ....any idea what the global ES would be? I can't find it on google
Global ES, I mean ES includes overnight session. Nowadays maybe watch the whole session ES makes more sense because the world economy is tied together.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.