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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.
Originally posted by PAUL9

Thanks, Feng,

in your explanation, you said the bigger the second bar, the stronger the signal,

what are you identifying as the second bar?
the first bar after engulf, or the 2nd bar after engulf?

RE today's PA
right now I have to be positive unless 63.25 is undercut by more than 3 ticks (then would expect fill to 59.25 gap).

gap up that meanders back to H of previous day and finds buying support is a positive to me


great call on the 64, Bruce


sorry. let's say we have up trend and you have a smallish up candle. i call that as the first candle. if the second candle or the one after it opens higher but closes way lower, then it has engulfed the up candle and the bigger this candle is the stronger the signal of the trend ending...again not necessarily reversal of direction.

just something i picked up from Japanese Candlestick Charting by Steve Nison
have 2 left... one for new lows and one for the gap fill....hopefully....my judgement gets messed up when Ihave only one contract left so we'll see
Originally posted by BruceM

Where we open today will be critical. We had a spike close YD which in Daltons world is a run outside of the developing Value area in the last few periods of trade...this run happened from 48 - to the highs

He says that if we open higher above the spike and test the spike high twice in the SAME 30 minute period then we may auction down fairly far into that spike...this would go well if we are trying to trade for the gap fill..in essence he wants to see if the spike high forms support

When we open in spikes we tend to have range trade, like yesterday.

Anyone trying get short up here in the ON?? I think they want to at least test 64..!


Tested 1063.25 at 709a (PST) and 739a - does that count?
It shows up in the same 30min bar because of the timing.

Regardless, I think a break below 1063 (if we ever get it) should be actionable with a target of 1060....
last two stopped at 66.even...poor stop placement on my part...
Looking at what is happening now Phileo I'd have to say no it doesn;t...LOL...I like the two 30 minute bar concept better..how do we define two tests in the same 30 minute bar....? I can't !!
Originally posted by phileo

Originally posted by BruceM

Where we open today will be critical. We had a spike close YD which in Daltons world is a run outside of the developing Value area in the last few periods of trade...this run happened from 48 - to the highs

He says that if we open higher above the spike and test the spike high twice in the SAME 30 minute period then we may auction down fairly far into that spike...this would go well if we are trying to trade for the gap fill..in essence he wants to see if the spike high forms support

When we open in spikes we tend to have range trade, like yesterday.

Anyone trying get short up here in the ON?? I think they want to at least test 64..!


Tested 1063.25 at 709a (PST) and 739a - does that count?
It shows up in the same 30min bar because of the timing.

Regardless, I think a break below 1063 (if we ever get it) should be actionable with a target of 1060....


So much for that idea....
Now we are back above the open (1067.5).
I don't see any chart pattern to setup a move above 1069, so it either happens by chance, or we are back into the range....
anyone looking for 66.54 for now?
still no second RAT......lets start a site and charge 500 bucks a month....

go to Ismellarat.com
NQ trying to break out and so is the Euro.... perhaps they could lead the way ??
to me, I see second test of yesterday's H that attracted buying interest again. bullish short-term

74-76 possible
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!