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On the upside !!


Yesterday was a 90% down volume day so on the upside I'm watching the following areas...

ES

1290.75 - 92.75

1297.50 - 1299.75

1307.50

For the NQ I just have one big zone at

1872.50 - 1879

on YM
11522 -11527

11580 - 11600

11650 - 11675

Hope fully we'll get a retest on upside to see what happens

I'm not in the doom and gloom mode..my secret magic bullet indicator tells me that a correction to the upside will unfold but we still need to get through those key areas....as usual the volume, Ticks and number off the open print will guide the way

Good luck today

Bruce
key numbers are still valid on upside..for today I'd like to see us trade down into support FIRST which would 1277 - 1280 on the ES and 1867.50 - 1864 in the NQ..if these can hold then I think we will start testing the upside zones into the 1297 and 1307 ES area. It all depends which happens first today...good seasonal time but we know how those "times" can fail
1295 - 1397 may be interesting zone as not only do we have a key volume number from a previous session but we have a weekly pivot there and a daily R1...( overnight high is up there too)so if we see a good push up first off the open with a good volume surge and/or a high Tick then I'll be trying the short side...currently we are set to open at the 1289 area so a plus 4 - 5.5 number gets us up into that zone.....
ES is current leader but upside seems like it's running out of power. The NQ and YM have traded down into their support zones.....ES has stopped one tick of a plus 4 number ( open of 1289.50) on upside...if we roll over from here it seems they are going to go fill the gap close on the downside.... no great TICK readings with volume so far
For Thursday I have 1265 - 1267 and 1282 in the ES and 1844 - 1848 and then the 1862.50 in the NQ . On the downside I have only the 1252 - 1255 for the ES
I'm getting long in overnight at 1213 in front of all these 8:30 reports. Targeting the 1225 - 1227 area first as that is my first set of resistence..then comes 37 - 41 and then the 1255 area.....as key areas...would take a small miracle to hit those upper ones today
I was able to take the 1218 and stop is at break even on runners......the challenge for me here is that they might open and run it down first...so I'd be looking to buy on a first push down anyway ( I was hoping they would of had a first push up to sell into on Monday but it never came) so there is a chance I will get stopped only to re-enter at a minus 4 number with low tick and high volume....we'll see...

edit : I should add that I had a 5 point initial stop so covering some and getting stops to break even at a price equal to my initial risk was ok with me....that's where the 5 point target came from
new long at 1205.75...what a huge TICK reading.....WOW!!!
that was a minus 1500 tick which is a big reading...I want to see trade bak into the 1210 before I tighten and it's not looking good
Bruce,

Todays low 1200.75 is 127% of the range between the Jan lows to the March highs, if there going up now would be a good time. On the way up 1220 ish is going to be some very rough resistance. Just my 2 cents.
1222.50 is my best fill on longs.....
I'm expecting this market to roll over from up at the 1267 area. On Friday the cash dow was the leader while the Nasdaq tanked big and the S&P cash was barely at breakeven....The days that follow this type of divergence are usually the better days to fade gaps up in price...I beleive there trying to run longs in and we may even see an outside bar to the downside today on the S&P futures.....that's my daily prediction....lol