No registration required! (Why?)

ES short term trading 4-22-10


Click image for original size
update daily
The only trade I see is buy Overnight low and sell 1201 or viceversa
94 area has additional importance, Steenbarger once did studies handicapping gap fills. He uses .4 times 5 day Average True Range as breakpoint, open down below previous day's close minus forty percent of average True range and chance for no gap fill increases.

today, .4 times 5 day ATR subtracted from yesterday's close is 1193.86.

BTW, Steenbarer announced closing of his blog.
Dow is very little weak than sp
G.M. Gent. Great charts and comments. Thank you!
Some of the objectives I'm looking at today are: In the outside 1199.00. Downside 1185.00. They are basically S/Rs in the 60M chart.
can this thing just retrace a little please? I'd like to get short, but price has just zoomed down right from the opening bell....
added at 89.50 print..this gonna be tough....
potential TREND Day down.
Now I know why some traders hated trend days.....
It just never retraces enough to a level where you can get a low risk entry......
5IB was 6 straight red candles on the 1m
i had support 1188.5.
normally that should work for a bounce on first touch.
When it starts to fail like that, I'm thinking trend day.

does anyone have a position on currently?
yes and need 91.25 to do ok on this ....rough ride
I am in on the S1 88.50 and waiting my targets to get hit.
Originally posted by redsixspeed

1213.00 on the radar..
..



==================================================================
SPX hit 1213.42 and we have stalled