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ES short term trading 5-6-10


Most of these are being generated from the weekly chart..

57.50 - O/N low , yesterdays afternoon rally point

62-64 - LTP in ON, VA low,PP and POCP

70 - all that volume and VA high

75 - 77 air pocket and R1 ...Magnet ******

85 - 87.50 air pocket and r2

94 - 98 combination of LTP's and HTP



****Gap at 66.25 in O/N data so those reading get short up here at 68.50...most still sleeping so you'll miss this one
little time spent below 62.75....in O/N...that is a great secondary target after/if they fill in that 66.25
broke o/n lows, now trying to stabilize at 1155 support.
preMkt econ.rpts were mildly -ve, this may lead to another repeat of yesterday's open, where price drives down right from the get go until a support area is hit.
I have to point this out just in case no one follows it or realizes it.

Last month's Low was 1166.25 (based on RTH). In a regular daily market, when price drops below the previous day's Low and then comes back up to it, if the Low acts like resistance, well...

I suppose much of the weakness is due to failure to definitively resolve Greece's problems, but right now, 1166.25 area seems important on a larger timescale (give 1166.25 some room it is a monthly number)
Click image for original size
chart562010
1163.5 - 1164.5: confluence of yesterday's POC, VPOC, prior low + close + today's PP

1155 looking good so far as support, we may get the gap fill attempt early on

My other numbers:
1169-1170: composite VPOC.
1173 - 1174: buying shut off here in the past two sessions. Above here, and I will start looking for long setups.
Originally posted by phileo

1163.5 - 1164.5: confluence of yesterday's POC, VPOC, prior low + close + today's PP

1155 looking good so far as support, we may get the gap fill attempt early on

My other numbers:
1169-1170: composite VPOC.
1173 - 1174: buying shut off here in the past two sessions. Above here, and I will start looking for long setups.


1164 gap filled. Buying shut off right at 1164.5. ES has been pretty efficient at filling gaps for most of Mar,Apr, and most of May (except the past two days of range expansion).
Hey guys. This will be off topic but I want to ask you guys if it's ok I make a single post everyday here just stating whether or not I followed my plan or not. The reason is that I want positive and negative reinforcement on my behaviour because I want to put more emphasis on rewarding/punishing myself for being consistent/inconsistent and less on the PnL.

So an example would be today I did NOT follow my plan and turned a winning day into a losing day. (this is true btw)

Then maybe some of you guys can tell me I'm an idiot.
Bring it on Feng...of course.....taring for the 59 retest off O/N low....59 is HV from today
Beautiful long coming up at 1146-1144 area
Sorry guys, hope you don't mind... I'm a little upset with myself...

This has been the worse week for me. For months I anticipated a sell off but since I missed the drop, I keep going long on the say down.

This is brutal...
The real cause(?) for the market crash on May 06, 2010...

Read at Reuters..."Exclusive: Waddell is mystery trader in market plunge"
http://www.reuters.com/article/idUSTRE64D42W20100514