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Out of Steam?


Out of steam? Thats what I'm counting on, Short from around 1278.75 looking for 1250is levels. I've got some major resistance 1279-1282 plus the market hiting some old tops from 07/09.....
O.K. I got it thanks Joe. I also went back to the glossary and re-read the definition. You know when all else fails read the directions, or in this case the glossary. lol :)
That 1285-87.50 is the critical zone...somebody entered agressively there to begin the current down move.....will they enter again? Today they closed it up into it and are currently selling it off in the overnight
quote:
Originally posted by BruceM

Big volume at that 85 - 87.50 zone...

It'll be interesting..The 30min ES closed overbought with that old high @ 1291.25 looming overhead. And also I am working on a MP for this whole week and there's a complete gap @ 63.25-64 there's nothing there not even singles LOL. A 10-15 point pullback is a must before an attempt to storm the old high level 1291.25, also single's at 1257.25
Joe; Are you looking for a pull back @ the 1288 1287 area?
Nothing except the weekly pivot number......that will be a cool area. With GDP in a few minutes and tomorrows employment report I would be real surprised if we just keep rallying. The ES needs to breath a bit. Good trades to all
quote:
Originally posted by CharterJoe

And also I am working on a MP for this whole week and there's a complete gap @ 63.25-64 there's nothing there not even singles LOL.

trading so close to the overnight high certainly sets up the "pop and flop"..7 minutes to take off...I'm sitting out till 8:45
for me initial support is in the 60 -64 area....30 minute closes below that will be a concern for further downside
I just began shorts at 77.75 area....will add on a print of 80....you may want to incorporate OVERNIGHT singles with your other key numbers but I wouldn't trade it alone
This am I was watching the overnite lo @ 1280.50 sq. +.146 sq.= 1290.00 in this area was the RTH R1 @ 1291.00 also had a resistance @ 1288.00 and another @ 1293.00 news @ 8:30 makes things tuff
the dow is leading with weakness..market is surprisingly strong in general...nothing would surprise me here today..double prints on the highs in both the YM and ES get tested a lot..no stats but don't like holding shorts anymore
What a great run i love this "bear" market...51.5 ES pts in a day and a 1/2. Markets hit a bumb @ 1313.5 right above the Wpivot and 1315 Is major Sq of nine, and 1307 is a monthly pivot with a very nice doji and weaking MP today, filling in singles from today at the 12:00 bar and 11:30 bar. After going long for so long its tuff to pull the trigger at times and step in front of the bull train, but once again proved worth it.