ES short term trading 4-22-10

NOTICE HOW THE 1200.50 projection is causing a pause?

a high probability but we just don't know when and that can tough...like this morning....On days when they break through the O/N high or low on the open they usually try to test the breakout points....

It's all about fair and unfair prices..The price/volume histogram can show us the unfair prices....today the 92.50 is still an unfair price as we haven't really had much back and forth trading in there..I just don't like that and consider the push into the 1200 - 1203 area a gift to longs that may not last


Like any idea we really need to study how and why it loses money so we can be on our guard....

Originally posted by stocksster

Hit 98. BruceM's 50% rule worked today also.

now back to the 15 ema on the 5 min chart?.. Currently at 1196.18. The 5 min 15ema will tend to hold any pullback in an uptrend generally

I'm short small at 98.75 to go for the 95.50 retest...and actually using a stop at 1200.75..gotta step away for a bit..this a due or die point it seems

afternoon trends are a faders enemy...sometimes I wonder if it's worth it!!

Bruce the air worries you Eh!

pulled stop and exited at 99 even.....

it is a concern but probably the bigger concern is that 1201 - 1203 ..seems like lots of numbers up there...but hope it goes there for those still long......when we trend they will leave unfair prices all over...now unfair at 97.50...so If I could get short again that would have to be my initial target..no time there today....YET!!!

Originally posted by ak1

Bruce the air worries you Eh!

Originally posted by redsixspeed

1213.00 on the radar..

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SPX hit 1213.42 and we have stalled