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ES short term trading 6-22-10


Looking for sells on any moves up with high $ticks this am...key resistence zone is 17- 20......not sure if it will get up there so look for a plus 2.5 - 4 off open print up to fade
out at 1110, done!

basically 1105 was support.
Because yesterday was a bearish engulfiing candlestick, I think it was critical to stay above yesterday's lo 1103.5

In all of the recent bearish engulfing scenarios I researched on SPY, all of them recovered were the ones that never had any follow thru to the downside.

I think a break below 1103 would have brought more sellers out to test 1100 or even worse, 1096

Will wait for the next -ve tick sequence to determine whether to take another long trade. Maybe a successful retest of the opening price 1110 ?
short 12.50...still light.....09 is first target then tripoles...gotta watch as they may want the hour highs
Interesting trivia:

last 5 consecutive closes: 1109.5, 1110, 1111.75, 1110.5, 1110.5
today opened at 1110.

Guess what the real POC is ?
took two at 09.50 print...that is the high of that low range bar I mentioned...holding three...critical point..gotta get under there to run triples below.


Look at one minute volume thrusts from On session and today...1109 is in both the big ones....
12.50 will take these runners...boring
had to take one off at 1107.50 print that was just under the previous 30 minute bar low and if this rotation continues they may want to run it up again...not sure ..no good read in this low volume chop


I'd never be able to hold trades without runners!!!
and so the suffering begins to get that triple below...

Love/ hate relationship with Triples......more will form as summer trade arrives so more will also not trade through in the RTH session....like yesterdays...need market context as per yesterdays Profile of the session


Triple just ran! ! not as much suffering as I thought
if we get an hour close above that evil 1109 then I wil start looking long.....we'd be foolish to expect a trend although it would be nice...

so two consecutive 30 minute bars ( hour close)above that low range 5 minute bar may switch us to longs...I'm hoping that doesn't happen as I'd really like to get YD low and O/N low as objectives on last two
was hoping triple may bring in sellers..so took one at 07.25..as nothing happening..only one left now.....which sucks because I can't get multiple targets with one freakin contract!!

any reason they shouldn't test 1109 again?
Originally posted by BruceM

Piker...in your Market profile chart go to "preferences" and then "reference lines"...there is a check box for "singles"..let me know if you get it going


Ok, I got it checked. For some reason I found it located in a different spot; i.e., under the "prices levels" tab but I'm sure it is the same setting as yours.