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ES short term trading 5-17-10


bias basically to the upside ,expecting a peak sometime today.. went long 1131.50 the red avg 5 min chart , just looking for the gap fill off the open to around 1135. COVERED AT 1134.50! that was a no brainer trade... now i can relax at work tonite... see ya in the morning!
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750
besides the one min projection shown, the all important 15 ema on the 5 min is also there.. should be good for a bounce down... at least
well, i missed that one ...watching
taking a real chance here...long at 1117.50..the 'termination 'ratio ' 4.236 proj from todays high(1140.25) was achieved at 1111.75, so i think we are set up for a bounce anyway... looking for 1121
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757
ILL TAKE 20.50 FOR A 3 HANDLE PROFIT IF THEY LET ME
Best day ive had in months... out at 1120.00 plus 2.5 handles on 2 es ... up 14 on the day and chillin for a while!...whew!
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759
still acting like it wants that 1123 area. but the prc median line is right here and the red avg is at 1119.50 ,hence the pause
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761
Man, sorry i missed that one .. my sell was at 1125.00. Have to run for a bit.
Looks very similar to the chart formation in early Feb on the daily. I wouldn't be arguing with the market right now. I agree with Kool that yesterday was a dagger in the heart of the bears. 40 is still immediate resistance then 55. See how the news is received. Looking for bearish news to be discounted the more of the same candlesticks. Low opens and high closes. A couple of those strung together and its time to get heavily long. Might miss this move, but that's the ideal set up for me.