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ES short term trading 6-08-10


By all rights , i would think today begins the rebound that everyone expected yesterday, but time will tell! Remember the weekend preview and the cycles . tomorrow they turn down ,basically for the rest of the week. tomorrow is also a kools cycle turn date and a bradley turn date so the action today should be interesting . heres a short term look as we wind down the globex session....
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811
sorry Piker...that wasn't directed at u...
if we get a 15 minute close below 49.50 at either 3:15 or 3:30 it will negate a run for the highs....
I had a feeling they weren't done with that 48....but now what......classic consolidation and higher risk to trade for an extreme high or low close...

these days have a habit of closing in the middle or an extreme..watch this 15 minute close for possible direction ..the 3:30 which includes the key 3:20 time moves
Originally posted by BruceM

I had a feeling they weren't done with that 48....but now what......classic consolidation and higher risk to trade for an extreme high or low close...

these days have a habit of closing in th emiddle or an extreme..watch this 15 minute close for possible direction ..the 3:30 which includes the key 3:20 time moves


I was gonna say closing in the middle, but then we just got that breakout of 1053, which is away from the profile.
we got the higher low now, so the setup is there for a break above the RAT into the last 1/2 hr....
Originally posted by phileo

we got the higher low now, so the setup is there for a break above the RAT into the last 1/2 hr....


crap...
as soon as I saw the break above 56.25, i put in a limit buy... but it never got filled.....
dang....

anyways, 1061 is in play now....
flat at 58.25
Originally posted by phileo

Originally posted by phileo

we got the higher low now, so the setup is there for a break above the RAT into the last 1/2 hr....


crap...
as soon as I saw the break above 56.25, i put in a limit buy... but it never got filled.....
dang....

anyways, 1061 is in play now....


long 1056.5, target 1060
Originally posted by phileo

Originally posted by phileo

Originally posted by phileo

we got the higher low now, so the setup is there for a break above the RAT into the last 1/2 hr....


crap...
as soon as I saw the break above 56.25, i put in a limit buy... but it never got filled.....
dang....

anyways, 1061 is in play now....


long 1056.5, target 1060


out 1058.5... +2pt... still worried that it could revert to the mean... plus volume is fading... for now anyways...
well, i see that it tagged my 1060 target..... left 1.5pts on the table...
I would call that "Range air" and hopefully Kool or Phileo will jump in here as they watch more for that....on consolidation days that will fill in and I would assume that range air fills in quite often...

And great observation about that being the highest volume bar on the day.....you get it...awesome....see how often that gets tested

Is it any surprise that the VA low from Tuesday is in the 47 area? No, It shouldn't be as the high vertical volume comes first and then the time builds up there because price is attracted to areas that had high vertical volume..

Hopefully REd will getto the Candle questions..