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ES short term trading 5-24-10


The 24th. Could be an important turn date, but it wont be easy. Volitility should stay high since there was a solar day this weekend which should influence friday and today. Well the short term projection down was 1076.25 and we've hit that and filled the air at 1075.25. Going to get some sleep but heres a short term snapshot for globex....
Click image for original size
780
Click image for original size
782
..Be sure to open it up so you can see the whole thing!
And the developing vwap! note it sits right at Bruces 81.25!
...

Click image for original size
783
Click image for original size
784
Man, really a somewhat 'odd' range bound day so far!..Any body making any money today? (im currently up 1.5 handles due to a globex scalp lat nite.)
All aboard!.. next stop 1189.75?.. could this be the breakout?.. or fakeout
12:54- 1:00 ish could be a 5 min cycle peak, we'll have to keep that in mind
going to try a long here hoping the red (15 ema) on the 5 min chart holds it (and the prc median line) 1184.75. bidding 1185.25
for your perusal!....
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785
Bringing my 2 point stop up to 1083.75.. exiting half(one es) here 1188.25
all stops are with you in that 81.25 to 83 .50 range Kool but I hope it keeps going...my new fangled theory says that if they can't hold 87.50 then 81 .25 will trade again...If they can accept then they will try for 93.75...leaning short now
gheesh 56.25 ...wow !! if this fails then 50 number is next....anyone see the progression or is it lost...??? personally I'd like to see it hold for the 62.50 retest