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MortiES' Morning comment on Globex 1Jul2009

Written by Mortie
July 1st, 2009at 6:33 am

This is just a comment, without a chart, since the last chart will do. Globex went crazy during the night and IMO is just giving another great shorting opportunity for those who missed it yesterday. I am going to watch for the same extremes on the upside that I looked for yesterday. I guess that run up that I warned about yesterday did it during Globex and then some! That doesn’t wreck the daily picture though. So IMO, look for the 926-927.50 or possibly a little higher, to hold ~ see left shoulder. If this just keeps on going, I’ll have to consider that we are in a daily W5, but I’m not there yet.

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  1. Placebo Placebo says:
    July 1, 2009 at 11:27 am

    Mortie did it again, it certainly looks like it. A great call

    Reply
  2. Mortie Mortie says:
    July 1, 2009 at 11:17 am

    Steve in Chicago ~ a chart of what you are asking will help me not give you a BS answer. Just add an image – it’s easy.

    Reply
  3. Placebo Placebo says:
    July 1, 2009 at 11:10 am

    Doubling up my position here ES926.50. It was stretched to its limits but I think the down trend has held.

    Reply
  4. BostonWealthMan BostonWealthMan says:
    July 1, 2009 at 10:43 am

    Yet again excellent call Mortie!

    Reply
  5. Placebo Placebo says:
    July 1, 2009 at 10:22 am

    Still holding my shorts from yesterday ES916.5. Much more of this and I am heading for the exits. The fact that rut2000(TF) and NQ are at new highs is really making me pay attention. Let see how this turns out

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