Monday ramblings / ES Futures Sunday night

403
BAC does have bull piercing candle, but other indicators suggest short still valid,,holding BAC

400
took a 19 cent loss on half the qqqqq

359
covering 50% of qqqq shares for small loss... holding rest...holding BAC

349
only 50% of shares

349
i will cover qqqq 4773 limit if filled

330
trying some tza 706

317
fwiw,,,, qqqq making new high but vix not making new low, higher low in vix

306
the 60min macd 12 and 26 lines are putting in a lower high, bear diverg, as mentioned this morn

302
but either way, support is likely to be tested on a pullback

302
one could also argue that qqqq is in a wide bulllish up channel 60 minute too tho

301
qqqq broadening is clearly seen in 60 min qqqqq... often typical of volatile tops

255
(covered BAC last weeek 1675,,,too k profits,,,, reshorting again here

248
BAC not participating in this lil rally here,,,, still at 1689

225
vix turning slightly bullish intraday here at 1710, bearish for spx

224
BAC is up on very light volume today

214
stop 1703 on BAC...low risk

212
short 1688 BAC

208
limit short BAC 1693 if filled,,, last 1688

112
avg short base for qqqq is 47.72

110
adding shorts 4797... entry 4 of 4

1225
adding more qqqq shorts 4780

1218
*much more rare LOL

1218
intraday gaps are much lesss rare then daily ones.... and significant when they do occur

1216
qqqq gaped down from 4783 to 4780,,, very bearish


1213
still looking for entry in tza smn ery swings...no entry setup yet

1209
bulls need to hold 4777 qqqq...last 4782

1204
if it was institut selling not MM then MM need to let it drift higher to take their profits, then i would fall lower when they start selling at the highert prices

1155
MM selling into QQQQ at 4784,,, millions of shares

1145
vix should bounce up a little here...last 1714... a large move lower in VIX would be very bullish for spx qqqq, or failure to bounce

1142
qqqq mini 3min bear HS....4766ish approx target

1134
qqqq first target down is 4766 on break of 4777

1132
vix waking up.... qqqq 4784...suggests lower

1119
qqqq no 60min bear diverg yet but it continues to form,,,

1102
qqqq really trying for 4795 test...lsat 4786

1059
might try for 4795 test first....

1058
should pullback here...qqqq 4784

1027
setting up bearish divergences.... another pop up was expected/allowed

1018
qqqq might make one more push up, and the daytrade short would still be valid,, should pullback after that per current charts

1016
15min and 60min qqqq bear shoot stars

1007
further the qqqq dtl in the rsi 60min held its R

1006
adding shorts 4770 here at R.... avg base = 47.57

1004
qqqq broke the 60min dtl, this move up is only a backtest to the dtl...still under it

945
4743 and 4753 q shorts both filled

9:42
short qqqq 4743

Monday 9:02 AM
ES futures look like a bear desc triangle but we will see what bulls can do in the next two hours

Sunday 11:01 PM
ES Futures are down 8 points now at 1148.50. Of course, it is early in the session just  starting and anything can happen, but this is a very negative start. Not the typical narrower range during Sunday evening. Healthcare a factor.

ES Futures are down 8 points now at 1148.50. No pause at 1156 as it should have but bearishly broke through to 1152, bounced to 1157, then turned down under 1152 to 1147.75 so far.

I believe it is significant that the futures did NOT pause, stall or even do a small bounce at 1156, which was a reasonable support level. A closer look will reveal that the futures blasted right through this support down to 1152 and then did a bounce to 1157 and turned down. The 1157 is close to 1156, which is now converted to resistance until broken.  After 1157 turned down, the ES made a lower low to  1147.75, which is under the previous 1152 nightly low.

The ES right now is setting up the bearish evening star multi-day pattern that I mentioned last Wednesday as possibly forming on Friday. It didn't form Friday, but could be forming now.

It will be interesting to see how the futures act the rest of tonight, and how they react when europe opens, and then at 9:30 AM open in the USA.

* 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".