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ES short term trading 6-24-10


So just how important will the O/N low be ? I think very important as that is right at the very peak of the long term composite of 1078 !! Last two days of the $ ticks show slight up divergence and the 3 WAR has been achieved....

Hoping all that sets up the long side for us and at a minimum a half gap fill at the open ideally into the 85 - 87.50 area...This will be fourth down day and that would mean that the dumb money will be trying to sell......

Could be wrong of course but I'd be cautious on the short side especially if they run it down first today!!

So starting a small long at 81.25....long way to go until open and O/N trading still messes me up..

Only add will be in RTH below 78...
unlocked a good bit of volume on that 5min LOD bar, retest area of L with less volume and positive divergence in $tick could see attempt to move higher.
Originally posted by PAUL9

unlocked a good bit of volume on that 5min LOD bar, retest area of L with less volume and positive divergence in $tick could see attempt to move higher.


price survived the -ve TICK extreme to recapture O/N lows, next challenge is to stay above yesterday's Lo 1080.25
Note we are still in the middle of that composite HVN :

http://www.mypivots.com/board/topic/5837/1/current-mp-charts


(kudos to Bruce for updating the composite profile, I was going to ask you about that
)
buyng for new cvampiagn as 76.50...small as hour range is looming on downside
took two off at 78.50...I want the 81.25 and then hour high run for last ..or else 76.50 takes the 2 runnesr
flat...so hard to predict hour run direction sometimes
long small off hour low break..agressive and risky as we are out of value and below all key lows..they may want the 70 lows...$tick still diverging but won't let us faders winn forever
took two at 75.25...75 is a major RAT....holding two...new lows will take em out....still eyeing that 81.25 and higher if lucky but won't have ammo
stop at 73.75 ..just below hour low...
so far fairly neutral...all trading done on first 30 minute run down
I'm wondering whether today could be a chart opposite, like a mirror opposite of the Jun1 chart, meaning Low before 11am then a bounce and a higher swing Low before 2:00 and then a move upside.

It's all too complicated for me, but come 2:00 if there is a higher swing low forming I will be looking for 1-2-3 buy.
Great Piker....it sometimes hard to stand aside from the market but these trends in the afternoon have cost me lots of lost profits.....Now, when I do trade in the afternoon I'd rather miss any longside on days like this....

Paul may a good point todat which infered that in bull trends lows are made early and highs made late....so bears will make the highs early and lows late...he also posted the average open to high which was right on today..