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Bouncy Bouncy 2.0
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Bouncy Bouncy 2.0

Bouncy Bouncy 2.0

by The MoleJune 17, 2009

10:04am EDT: Oh, 912 wasn’t good enough for you, huh?

Alright – I see a wall of support underneath and of course the 900 mark is psychologically sensitive to those simple minded mouth breathers. Of course – nothing is guaranteed – if we breach through 900 I have my eyes set on 880.

If you were short all the way to here count your blessings and buy back into weakness. I for one will do exactly nothing right now – this is the time to wait – not to trade.

10:48am EDT: Wow, ES futures just dropped below 900 for a few seconds. I don’t see a divergence in the Zero – it’s looking bad for the bulls.

10:53am EDT: So far we’re holding – the ES touched its S1 pivot with one tick and then bounced back. So, 899.25 on the ES should pose some support for now.

11:19am EDT: ES is at VWAP now – trying to push above 905. If it succeeds (after the obligatory head/down fakes) we might actually see a rally today. FYI – NQ is leading – already way above its VWAP – it’s looking better for the bulls.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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