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Es short term trading 6-09-10


If we can hold back any decline into 52.50 then we have a chance at seeing 84.50 and soon..we have lots of numbers there as of this writing.

Above yesterdays high and RAT we need to get past that 68.50 and 70. We naturally be a break out of the Monday - Tuesday Range.To go get 84.

The R1 and R2 levels match up with the RATs so those become more important. You can see how we consolidated at 75 - 76 so be careful there. Just because we think we are on track to go get that 84 volume area doesn't mean it will be easy.

Quick summary so far

61 - 63 Rat and O/N high so far

56 Rat and that key spike bars low..and Weekly MIDPOINT ******

50 - 52 Rat , VPOC amd POC from Tuesdays range

We have two shelves of support so watching what happens if we get down into the 50 - 56.25 RAT will be critical..

If we get down belwo 44 then we may decline to 38 realy quick. I'm hoping we don't see that today.

Wednesday is a good day for Gap fills..

30 and 15 minute charts made a higher low so that is a good sign.
Or sooner!...LOL
it's no wonder I don't trade heavy in the afternoons....I just suck inside the 60 minute...so the second highestvolume bar was at 71.25 - 73.25...true asupport to resistance and I missed it as I was too busy expecting that trend line to bust...


I iwll assume that most will soon be trading for the gap fill...they won't give that up easy...we will suffer!!
Next stop 1062.75?....
they still owe us 4 - 5 points of range.....something seems too obvious...just don't like obvious ideas...!
there is my RAT....62.50...chasing the RATs!!
long 1058.75 gap 2pt stop
fill should bring some buyers in..
Originally posted by phileo

long 1058.75 gap 2pt stop
fill should bring some buyers in..


TICK peaked at -1435 on that sequence...
If TICK goes down that low again on this trade, i'm in trouble....
Click image for original size
820
Originally posted by phileo

long 1058.75 gap 2pt stop
fill should bring some buyers in..


stopped out 1057.... got another TICK at -1400...
sellers really hammering it now....
I just love when they give the impression they will rally it up before hitting the gap fill,,,,that is the suffering part.....luckily we know about RATs...and there was the last one for me at 56.50....

dumb mistakes inside that range but all is forgiven...that was also 20 - 25 points off the high print....cool idea but tough to trade.....
Longer term players might want to refer back to the weekend preview and calendar... cycle high today ,working lower into the 14th.. DONT FORGET TOMORROW IS ROLLOVER DAY!...C YA!