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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...
trinto get one at hour low..73.75 !!

That last 5 minute bar was the lowerst 5 minute bar of the day...gotta watch that...we know what happend up at 1109 the other day
stop is below that low range inside bar.....that is no different then an NR 4 or NR 7 ...conceptually.....low range precede moves quite often....hopefully the OVB down won't form on this bar to take me out
took one at hour low print...last target is 76 for me....



Hopefully someone understood these ramblings about that low range bar...I know you folks are trading so reading my babble isn't and shouldn;t be a priority....it just that sometimes it sinks in betteer when you watch the stuff as it happens....

Do you see how that low of that inside low raneg bar held ??


we certainly don't want to go below there again.....for the time being it was telling us that selling could temporarily be drying up ..especially if you look at that big bar before it on volume
Bruce, if you get a chance:

Are you talking about the inside bar just after the spike LOD bar?
no test of any previous high 30 minute bar yet today...it will happen but we don't know when....hopefully very soon!
yes Paul...not only was that an inside bar but it is the lowerst range, 5 minute bar of the day...so something is happening there.....
Originally posted by PAUL9

Bruce, if you get a chance:

Are you talking about the inside bar just after the spike LOD bar?
$ticks seem to be supportive now...hopefully that 76 target will work....that is close to the middle of the range on this consolidation so far and a natural target...I hope...LOL!
75.50 is print of previous 30 minute high.......gotta watch it
finally...filled at 76 even...we need to be thinking about the 78 - 81 on longer term...if they can't get new highs on the day and then have 78 be support then we are in trouble on long side...

If we bounce up against it now and the roll over for new lows then we should trade down into 62- 66.....so far we still are neutral.....lets also watch for one of those spike endings where we jerk around all day and then make the final move from 2:30 on.....

c ya later
5 day average of the H versus the open came in today at only a +2.75 which equated to a print of 1085.25 for today.

5 day average of the Low versus the open is a -14.35 for today which equates to a print of 1068.15.

Price is so close to the L v Open that maybe it has to undercut existing L.
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..