1. The ES made a penetration of 1105 and 1100 that I expected at 10:19 last night.
2. The TZA swing entered worked well. Took profits on half of it, for about 6.23% profit overnight.
3. Unfortunately I was stopped out of my DDM by mere few pennies, but happens. DDM did hit 42.89, close to my 42.93 target.
4. The DOW did bounce up, as suggested at 1:07 PM
5. DDM hit the 43.16 target exactly 100%, and then backed off to 43.03. DDM never made it over 43.16
6. TZA did NOT hit 12.10...only made down to 12.20ish
3:50
ddm 43.16 target hit.
3:47
ddm 4303 target
hit...43.16 next. 43.16 should be the max for today.
3:24
look at DIA
daily....head shoulders topping
pattern could be setting up DIA ... if
the DOW jones falls, so should the spx ndx
etc
3:17
Charts suggest possible TZA 12.57ish as the cap for today
2:47
ddm "should" hit 43.01, over the .93 target. but who knows. itis especially hard
because the ddm is contra-intraday trend
2:34
Charts suggest that for today, 1099.50 should put a lid on any move up in SPX, if it even gets that high
2:32
ddm / dowjoness looks like at least a little more upside
2:25
If TZA holds over 12.20, then could be a bull flag breakout. however, other indicators weaken the chart pattern, although TZA's ability to stay "up here" is bullish. A good trade would be to wait for tza to 12.55, then buy the small decline down. then, it should thrust over the 12.55. but this is all speculation for now, just ideas.
1:56
i would not add shorts or longs for swing, at this moment... there is a short setup forming, but this is not the right entry point, at this moment, for me
daytrades, i still like the ddm (at this minute, for now)
1:50
ddm target 42.93 before pullback. last 42.74 (i got stopped out by 1 or 2 cents. at .57..grr)
2:03
at 3:30pm the charts might support a swing overnight, for me, they don't now
1:36
tza could be setting up a weird complex HS in 60min...those 15min rising candles don't look right (rising is not always good)
1:07
i think DOW will pop up one more time before declining,but could go either way. last ddm 42.70
1:04
doubling shares in ddm daytrade with stop still at .57....i might only get .73 on this so need more shares///
1242
ddm tick chart mild bullish, poss cup/handle forming.
1241
ddm stop raised to .57. not interested in it under that, for now.
1240
ddm poking along here..like a turtle
1232
the .76 stall in ddm could be good, allowing it to go past .83 without a stall and trigger some more upward momem
12:27
ddm .75 now...expecting .83 stall
12:22
ddm is right at channel resist now at .72....needs to break over it or will fall to .64ish. looking for it to break over it, then backtest, converting the R line to a micro support line, for the scalp up. looking for it to break over it, then backtest, converting the R line to a micro support line, for the scalp up
12:21
first ddm tgt is .83
12:19
i might exit the ddm b4 42.47...my trendline support is around .56....just have the hard stop at .47 in place in case a crazy downmove comes and i don't have time to type a sell order.
12:11
i'm preferring the DOW over SPX NDX today for any long scalps...looking to get short again the tza. thats why i did DDM for long scalp.
12:08
ddm 42.66 stop .47 for now...daytrade only
12:03
conidering ddm....daytrade only..no setup yet
11:48
tza 60min bear diverg...i'm looking for that to burn off, give me lower price, if able, to re=enter
11:38
i'm close to a daytrade tza buy here even at this high level...dont have the setup yet but close...could decline more...unsure
11:29
tza stop 12.37 on 50% of swing...holding rest for now...will buy back lower...i think i have a valid swing sig now n tza...checking. 12.37 if stopped will give a 6.23% gain overnight...again holding rest for now
Thursday day:
I will be out on vacation for Thursday morning,,, maybe all day.
TRADE: TZA swing from yesterday is up pre-market at 11.85. Some people might take profits here, I will wait and hold.
6:23AM
ES declined to 1100, as i expected, making a low right a 1100 and boucing up to 1103, now bck at 1100 testing it again. It also hugged the downtrend line that drew last nigh. Update chart below (see top chart).
11:34 PM
ES continues on the roadmap suggested below. Broke the 1105, but only marginally. Let's see if that 1105 holds or breaks lower.
I do think that the next time 1101 is tested, it will break lower (could happen during market hours, or afterhours).
Of course, there are bullish scenarios that call for a move up to 1120. That would happen if the support levels hold (such as a bounce up from 1105) and then R is penetrated (1112).
I've attached an updated chart, but put it at the bottom of the post so that this part is easier to read.
10:19 PM
I expect that 1105 ES will be penetrated lower, and a test of 1101 will occur (with a stall at 1103, bounce up, then down to 1101. The 1105, if penetrated, could be converted to resistance. This is very similar to what I mentioned this morning, pre-market: expecting the 1108 to be converted to R (which it was for the trading day, though after-hours it went higher).
After 1101, then 1098, 1095, 1091, 1083 with stalls at 1090 and 1086.
8:21 PM (wedn)
Lets observe ES tonight and see if it trades in the range 1100--1111.
This chart posted 6:27 AM. I did not change anything in this chart, the only difference are the new prices. Trendlines were not re-drawn.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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