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ES S/R Map for 11-9-09


Here's what I've got for price action S/R levels coming into Monday. Viewed multiple time-frame charts but have this drawn on the 60 minute. As always, each price is a "zone" with a few ticks above and below as the "area." Have an actual "zone" drawn in that is WIDE from the 1069-1072 area where both individual prices are pretty solid but feel this will function as a zone. Obviously I prefer something no more than a couple ticks or so to each side of the line/price I've drawn in. But in this case (and based on others analysis) I think it appropriate to present it that way on the chart fwiw.

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As always, encourage all to post any feedback and analysis!
And for the bigger picture of a daily chart for the ES ...

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Hope this useful in some way and helps. MM
BTW ... the ES WEEKLY PIVOTS are ... Mid Pvt of 1054 ... R1 of 1082 ... S1 of 1038. All three fall within a few ticks of one of the price action S/R levels on the 60min chart above as per the Mypivots.com numbers fwiw.
Typically don't trade overnight unless coming into the 2 hours premkt to the RTH session ... but ES traded up to 1071 (so far) and shorted as a proxy, the NQ twice ... once for a scratch another for a loss. This was when I switched long for a scalp expecting some room to 1072.50 on ES and got a spike that I offered out into for a few NQ points to get back into decent "profitland."

Still think the area offers some stiff resistance ... and so far price has backed off to 69.25 ... problem is that price is still acting strong so far. Am gonna bow out now and watch the Cowboy's play some football! Always hoping Romo doesn't throw more than 1 or 2 interceptions.

For some reason I like trading the NQ during non-RTH.
well done MM ( nice trade too) and thanks for these...I'm looking at the 61 - 62 and then the ongoing test will see what happens at 10 points either side of that high volume zone...so in this case the 71 - 72 and the 51 - 52 would be in place....that's 10 points on either side of Fridays HV numbers
Big money (ie. +450 contract players) did not show up after the NFP was released - this is unusual, but not sure how to interpret that. So, this could still go either way. If sellers step in and break it below 1055, I will become bearish and sell resistance. If buyers take control and drive it above 1078, i will become bullish and buy pullbacks. Gap fill could be a potential play for Monday, as there is a hi volume node at 1066.
Lots of vertical volume showing up at your 1077-1078 phileo. So that is confirming it.....overnight showing the "P" pattern as per volume..I think they will want a bit higher to run out any stops and then hopefully roll it over to test 71 - 72
Looking for a significant swing high in the ES today. I will not be surprised to see the ES trade (briefly) back above 1100 today. I have no idea what price level the market will manage to touch before sellers take control and price reverses. The higher the better !

Resistance levels: 1089, 1106, 1113, 1123

Strategy: find the HOD and load 'em up !
good idea PT..I'm starting at the plus 4 after the run of the overnight highs and pre market gap fill...80.25 is my fill......
so far $ticks showing absolutely no sign of selling...so this is an obvious challenge to fade
biggest volume spike of the day now is at 80.50 with me...
so far today no 30 minute bar has traded below the low of any other bar..haven't seen that in a while