The yellow support line that I showed on the weekend worked perfectly. I mentioned yesterday when the yellow line was touched, and bounce expected. From current levels, I am expecting a decline again, and test of $27 area.
Excellent setup again on the short side!
4hour Chart
Giant short squeeze rally continues since hitting my cycle low on Thursday.
ReplyDeleteNext major peak might not be seen until Oct 12th.
Excellent.
ReplyDeleteFor SPX I have been favouring tomorrow for a high, and it looks weaker late this week, and especially Monday/Tues.
However from this level weakness may just put in a higher low. Let's take it one step at a time and see how things develop next.
GOLD 240 MIN
ReplyDeletehttp://img190.imageshack.us/img190/6672/gold240dec.gif
Gabe - nice call on Gold bounce. Thanks for all the great charts!
ReplyDeletesc, have you short silver again?
ReplyDeleteYes, I like the short Silver trade (just for test of the $27 area).
ReplyDeleteSilver has already slumped from the highs this morning. It may test the top again, or a bit higher, but the main point is that a test of the lows yesterday should occur next.
ReplyDeletesc
ReplyDeleteDITTO!!!!
http://img835.imageshack.us/img835/9241/es240mind.gif
Gabe,
ReplyDeleteAre you short SPX?
1197, 1208 and 1220 next stops.
ReplyDeleteEMINI DEC 240 MIN
ReplyDeletehttp://img838.imageshack.us/img838/5011/es240minlast.gif
EMINI.......
ReplyDelete1191 area is the blocker.........price will have to close above this for any further advance or we could get a steep drop today! joed
70 points higher since cycle low last week. Banking some more profit here.
ReplyDeleteGotta just love these short covering ramps. :-)
Eminis.........
ReplyDeleteFlat all longs into 1191........stalking the short side now! joed
EMINI DEC..........
ReplyDelete"1191 area is the blocker.........price will have to close above this for any further advance or we could get a steep drop today!" joed
gabe you are a myth!
ReplyDeleteFab
ReplyDeleteIs that good.....? Like a bulldog? joed
Gabe,
ReplyDeleteLEGEND may be more appropriate.
EMINI
ReplyDelete"STEEP" was the key word!
Thanks for your kind words........they humble me as they always have! It is a lifetime of work! joed
gabe, greta call, but i recommend you: foot on earth. ;)
ReplyDeletei think we need to clear 1172 to get 1157 in a while.
typo: greta=great
ReplyDeleteFab
ReplyDeleteMY MY! It just dropped 24 points in an hr and that is your statement!? joed
Silver had a decent decline from this morning's high. May just bank the gain, wait on it. I still think it'll retest the $27 low next few days, but maybe there is a better short entry.
ReplyDeletegabe i love you anyway even on the moon. ;) ;) :)
ReplyDelete'MY MY! It just dropped 24 points in an hr and that is your statement! '
ReplyDeleteIn my book, you deserve many thanks, and more!
Hello Gabe,
V Good call - "inspiring trader" that's what I call you !
Are you short now, I mean started to build a position ? or wait for a bounce to get short (from what expected level or range in ES). Thanks.
Since we dropped from 1190, and steep drop expected: what is your target for tomorrow ?