Emini Trading Update – Tuesday 21 Feb 2012 (13:54)
Nice OSOK this morning and the charts set up some nice little moves today.
Quote of the day …
Cute and crazy email from David R. today. But when you read this remember: Indicators are just indicators – it’s how you read the market and react to what you see that counts.
“Barry, Are you sure you didn’t go back in time and give yourself the S&P 500 e-mini stock charts from the future? (You know, like how in Back to the Future old Biff went back in time and gave himself (young Biff) the sports results almanac from over the past century?) Does this mean we’ll soon be living in Baryland?
Looking at your indicator package and watching the action today…SIMPLY AMAZING!
1500 tick bar – at open of market professionals getting ready and positioned just at a cyclical resistance level after first bearish divergence. Then a quick completion of cycle, another resistance with two quick flush signals with more professionals getting positioned and BAM! Sink to the floor for a quick 4!
That 4 point target is absolutely perfect in this instance. A support cycle generated, exhaustion selling, professionals getting out, amateurs getting ‘wrong footed,’ first bullish divergence and a quick ‘re-test’ of the bottom/support with less selling and another bullish divergence and…BAM! Another quick 4 if you get out right when the professionals start taking profits again.
I MEAN IT WAS SO SYMPHONIC AND BEAUTIFULLY ORCHESTRATED – JS BACH HIMSELF HAS NEVER CREATED ANYTHING SO PERFECT!
11am CST is past – so less chance for a trend change, but we’ll see! Exhaustion buying, professionals at the top, end of trend in place, and first bearish divergence… right at a cyclical resistance top on the 4500 tick bar. Another 4 coming short?????
Well, young Barry, if old Barry ever shows up again, would you tell him Dave from the USA says thank you for using the time machine for the forces of GOOD and letting me in on the future!!!!!!”
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