Quote:
Originally Posted by
mpr 
I'm long for a bounce. Plan on taking profit soon though, not expecting an extraordinary bounce or anything.
Trend is still down.
Regression channel lined up here so I took a shot...


Quote:
Originally Posted by
mpr 
as of right now, yeah. first resistance would be 1364, then 1374.
If things go as planned I'll probably sell 1364, if we regain and hold that level, i'll re purchase for a possible bounce to 1374.
Sold 1368 when I woke up this morning. Then when it gave me the chance to buy that 1364 support and sold 1368 again.
Hardly traded at all.
-How much longer do you guys think we can do this sell off hard, then the grind sideways routine?
-Do we continue to do the same until we find support?
Trading this channel to the downside since last Monday, you can see that we have been doing the same pattern..
And that grinding sideways pattern works its way from the bottom of the regression channel,
back up over the midway point to support, then just cracks lower hard.
Doing the exact same thing right now.
As of right now, selling looks like it's going to continue.
* note how in this chart, ES has been a sell every time its traded above the middle regression trend line for
almost 2 weeks now.*

I'll most likely be attempting to position myself short at higher prices.