ES Short Term Trading 5/5/10

Have adjusted PASR lines that I see for potential support and/or resistance in Red with Magenta as "semi-significant" ... the Cyan dashed lines are the Weekly Pivot levels on the 30m chart that shows 24 hour trading with the gray background areas being overnight trading. Hope they're helpful as a map for Wednesday's trading.

heads up, we got some econ.rpt coming out in about 7min. that might create some spikes either way

The open looked like a carbon copy of yesterday, until the reversal at 1155.

Originally posted by BruceM

Sarting RTH longs at S1 58.50

If we close below 1158 at 10:00est think about exiting the long. FWIW

if they can hold that O/N low we have a great long trade...70 is still the giant magnet..ultimately

today is 2nd gap in same direction.
Historically, based on study I did, data Sept 99 through March 2009, roughly 72% chance of fill today's gap.

62.25 is my best so far..c'mon 64 and 69.....two way sword when you have add ons....

we are gonna need some higher $ticks to rally from here ..Otherwis ethey will go test the 59 volume

only a plus 650 tick....not good for the rest I think...battle at YD low..RTH

i'm likely out today. don't think i'm interested in the short. hindsight, the move of the day might have been the 56 long.

sure seems lik ethey want to test 59.50...hope not...

Ym not following the weakness is making this choppy and dull...


only down .54%..other two down over 1.10 % or more..still early though

you got a bad attitude man ! Call it what you like!!

Originally posted by ak1

Originally posted by BruceM

can you get us a visual on your air concept..I don't see it....perhaps we need to call it AK1 air so we don't confuse folks...

Originally posted by ak1

Air at 1163

I like the name. Thanks. I can't give the visual as you need to watch a 30 min chart to catch it. It occures at the high and low of a recent 30 min candle. When we hit these levels we must go back 2 ticks. If we do not then we have air. I usually let this run for 4 points and then enter hoping to fill the air.