20070727 ES 'turtle soup' reversal at 1549 turns out, with the proper money management to be a belter of a trade, almost 100 points of profit potential.

E-mini S&P 500 chart

20070720 ES is in Turtle Soup sell signal from 1550, with the stop above the previous high. Let's see how this classic reversal pattern pans out.

E-mini S&P 500 chart

This is very interesting:(from Yahoo Finance)
The short time that it took the Dow to pass this its milestone recalls its ascent during the dot-com boom, especially because it took only 129 days to make the passage from 12,000 to 13,000. In the late 1990s, the Dow took just 24 days to go from 10,000 to 11,000, and 89 days to go from 6,000 to 7,000.

The end of the high-tech boom plus the recession and the aftermath of the Sept. 11, 2001, terror attacks helped send all the major market indexes into reverse. It took the Dow 7 1/2 years to trek from 11,000 to 12,000, and only last October began setting its first record highs since January 2000. The Dow has since logged 53 record closes including Tuesday's gains.


1450 has breached, so the turtle soup reversal pattern is in play, with stop at the previous high.

E-mini S&P 500 chart

20070713 ES breaks out of the previous resistance 1550, which now becomes the trigger price for any 'turtle soup' reveral setup.

E-mini S&P 500 chart