Friday thoughts

352
the move down on ES was a big red daily candle,,,which is more bearish than 3 small red candles in a row of the same number of points

351
the longer its sideways, the larger the correction

350
market often goes from up to sideways to down, vs from up directly to down,,,,still see sideways forming from swing perspect

336
es tested both the 1365 and 1362 trgts (close enough), watching to see if gets the 1358 test trgt lower

314
78% suggests a test of the 2 next es trgts lower

313
78% es sell signal now, will stay there unless es moves over 1367.58

309
SPX now has the rquisite number of "multi hour" conditions met, so depending on the close, gap analysis may suggest another gap down monday,,,but not enough conditions met yet to give a gap down signal,,, yesterday did not have enough of the multihour conditions met but they now exist

254
1358 likely would stall if it got there, failure to stall ther would be bearish

254
ES 1362 and 1365 mini support test trgts, then 1358

252
76% now
needs 78--85% to move

251
74% now

246
ES is on a 72% sell short intraday scalp signal here,but this nonexitant movement vol makes it less accurate

242
cnbc headline about baby boomers selling homes, and who will buy them? many of them are also selling their stocks, and who will buy those? not gen x or gen y, at least not yet, according to recent data and third party studies.  maybe other countries will

1205
zsl scalp swing 9.56

1156
exited FORM long, breakeven, will reconsider later, it didnt move the way it was expected to, still see higher FORM but i am looking at other alternatives for now

1105
SLV surged higher,,,its v volatile too,,tho all that really happend was silver futures tested their overnite hi

1036
notice the daily chart on ANN
 todays making a higher high, but on lower volume, than the gap up on march 2
 and feb 2 had a HUGE day of selling on ANN
 (thats the day i took shorts on my first ann swing short entry, posted here b4)

1013
i entered ANN daytrade a bit early on short side, mostly because ES is testing resist now, and ANN may pb with ES

1011
i think much of ANNs move up was buying before the earnings report, think it will pull back in coming hours days

1010
ANN hit trgt, got a fill short

1009
 i will add ANN short 27.38 if i gets there

10025
i might short BA,,,BA as a dow short proxy, its weaker, and has relative weight at $74

911
silver now down 1.5%ish,,,silver futures acting up again,,,did same thing as yest,,,higher overnight then sell hard b4 open 930am

* 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".