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ES 8-20-08




ES is as I type down 50cent, they were up about 6 bucks in the overnight. I would have perferred a gap up since we've been down 50.75 points since the 1313.5 high on 8/11. I think this is going to add volitilty to the early morning trading.
outside bar forms on the upside with 90 minute volume higher than yesterday....78 - 80 is my key zone to get through for longs to win.....71.50 starts my support area...single prints!!
sold two 1275.5 covering one here(1274), holding 1 with breakeven stop at 1277.
down 10 handles today....sheesh
covering here.
Bruce,

I am not looking for much over 78 today that'll be about 20 points pullback, the thing I am wondering is are we going to build value above or @ 78...Tons of support in the 50's I wonder if were going back above 1313.5. I actually missed that beautiful long @ 1260.5
out at 1273.50 ...down 6.5 for the day
I think we are going to build above it soon....but I am bias to upside longer term the way that most seem bias to the downside....

For now we had a nice tick extreme and divergence at these highs so I'm thinking they want to fill in those singles
quote:
Originally posted by CharterJoe

Bruce,

I am not looking for much over 78 today that'll be about 20 points pullback, the thing I am wondering is are we going to build value above or @ 78...Tons of support in the 50's I wonder if were going back above 1313.5. I actually missed that beautiful long @ 1260.5

dow and S&P filling singles together.....inside of hour range....no trades initiated for me in here...I'll leave that for the pro's today
heres how i see it. today was supposed to be a rebound day but keep in mind the thrust off of a rising wedge is like a triangle ... hard and fast.I see downside bias into friday.My original upside projection was 1276.25(very short term) so i had no business selling the 1271.75 area. I paid the price for that impatience.
Note to self: if you come within one tick of getting hit, SO WHAT!Stick with your original plan!
quote:
Originally posted by Printer

Here is a web site that has the square of nime numbers for popular futures contracts
http://www.imtc.com/cci/square_of_nine_index.htm
Printer



Thanks Printer