ES 092612

The market has come back to reality after the FOMC sugar high. At least now the market can start to build some proper structure and I can clear some of the lines off my charts.

As I wrote in retracements and measured moves a move to 1500 can still happen after a 50% retrace:

I had been looking at a return to 1428 HVN but today the market went past it. There is nothing exact in trading and there are no guarantees. As it happens 1424 was the bottom instead.

The continuation selling was too much for the HVN. It took some of those 1428 stops and then reversed.

Maybe that is why, or maybe not:

You want to know why the double bottom didn’t hold. Why did the breakout become a “false breakout”? Why did the breakout not become a “false breakout”? Why is it so choppy here? Why did this price hold as a support level last time but not this time and why does it always seem like it fails when I buy and it holds when I sell? The unemployment number was positive so why is the market going down? The outlook for the economy is dismal so why is the market going up? Who the hell would buy at these prices? And how can they just keep bidding it up? And why didn’t they do that when I was long an hour ago? Why are they doing it now when I’m short?

What…the fuck…is happening?

Also, new page:


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