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Tuesday 12-18-07


I'm not able to watch the market much this week but I have a long working from 1460.25...which is not the best trade location...I'm trying to get 15 points on this but am concerned about the 1467 area...

The real point of this is that they tested the key number above the 1450 at 1455 and they traded it down to S1 on the weekly so far at 1458.....the weekly pivot is up in the 1495 area so that is what I feel will have a Magnetic pull if this thing can get going up...we also have gaps which may help..

It seemed like today was a tricky day to trade and glad I wasn't in the market. Hope all did well

Bruce

nice Bruce !

NQ gap fill and test of yest LOD
looks like we build a new value area down here using yest. lows as a general support zone... thus calling this a range day until proven otherwise...
lows did not hold the test... left some singles behind on the break lower
market bouncing , heading for the singles
I'm long from 63.25...I'm hoping this will turn into a longer term trade/objective...would like 1471 area...lots of range so far though,
stop now at 1464 along with everyone else...so this needs to get some wings or I'm out
paired some at 67.25..have only two contracts left now so I can't do much....
got the 71..stop at 65.75 now ..only one contract working
that's me flat.......looks like the Monday-tuesday range will be broken to upside tomorrow...I just hope they don't do it in the overnight...so we have that and that 95 - 98 area above....weekly pivot etc....
The market today.

Click image for original size
ES on 12/18/2007 in 5 minute chart.
I agree - excellent trading Bruce!