You may well be right...no argument here but, I'm going to keep jumping on the signals that pop up in the mean time.
Aside from that I was just looking over a few things and am really looking for that 32.5 tomorrow..I would go long at 27 if it gets up there and would be looking for that 32.5 and possibly more. Not my ideal entry but probably the safest way to go in this particular situation.
Without explaining all my reasoning for the 32.5 I will say that play is over and will be looking for the next one now.
Still looking for longs, just want to find a dip to buy tomorrow and maybe look for around 1135ish this time.
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I was going to post that I was looking for 1150 tomorrow...I think we are playing catch-up now, which is what I've been waiting for. What that means is a charge to get over 1200 is likely underway...not to say a pullback to the 33 area can't happen but I think it's mission now is to get up to new all time highs in the near future.
Still looking for longs goes without saying. On the ES and dow I'm half expecting a bit of a slowdown in their upward progression in order for the TF to catch-up
Yes it's speculation and in the end it doesn't matter if I'm correct or not on this outlook...just trading what I see.
Edit: just a second thought I might look back at some day...I wonder if this is the point we start to go parabolic.
Last edited by kbit; June 5th, 2014 at 07:53 PM.
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I was looking for a bit of a pullback around the 66 area the other day and that didn't work but like you am still looking for something.
As I see it for tomorrow is a high at about 74 and the bottom at least as low as 1153(looking to short with that in mind). The 74 may or may not happen or may go as high as 77ish but that would diminish my 53 idea...ultimately depends on what happens tonight in terms of not going up at all ideally. 53 seems like a stretch I know but I have reason to believe this is in the cards.
I'm thinking bigger term 1140ish would be a nice spot for a good long but obviously keeping my eyes open for whatever comes.
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I'm thinking the same thing. Today I was long and flipped short when it went below 1166, but there nothing to get it to continue. It might retest that 77.5-79.7 area again, but I would think there's 50/50 chance now of the market selling back down for a pullback. It's really got to break 1162.1 in my mind though. If that happens I would look for TF and ES to fill their gap.
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