No registration required! (Why?)

ES slightly longerterm trading 7-15-10


this is an experiment that hopefully works............working the 97 short....97.50 was a key price from last nights overnight session........looking for 1081.....that is a key number that needs to fill in...I just don't think that we are in a breakout mode UP for much longer......if they can tag 89 I will put the stop to break even...

keys upside are 1101 and 1109...I will only add if 1109 prints...
Originally posted by BruceM

this is an experiment that hopefully works............working the 97 short....97.50 was a key price from last nights overnight session........looking for 1081.....that is a key number that needs to fill in...I just don't think that we are in a breakout mode UP for much longer......if they can tag 89 I will put the stop to break even...

keys upside are 1101 and 1109...I will only add if 1109 prints...


Seeing as how we've gone up for 7 consecutive days now, the odds are increasing in your favour for a pullback to 1081. The last time the market closed up 7 days straight was back in Mar/10.

Note also that 1081 was that area of huge congestion that you've mentioned several times in your MP thread. Market hasn't touched 79-81 area during RTH for quite some time now.

Another area the market hasn't touched much overall is the 1098.5 - 1101.5 LVN. If the market breaks above 1101.5, why doesn't that prove your thesis wrong?
I wouldn't have believed it if I didn't see it.

My only question is, did you hold thru that round trip to re-test 1098?
If so, congrats to ya for sticking to your guns. I would have surely cashed out somewhere along the retrace move back up to 1098.

Of course, now that we are below 1081, there is so much downside momentum that I am compelled to look for short setups.
yes I did but ONLY becaue I was awake to manage the trade in front of those 8:30 reports......still a huge drawdown if we look how far it popped up off of that 89 area in the O/N session....still not sure how anyone can hold long term without big draws against gained equity...


My best exit was the full air pocket fill long term....butthat was on additional contracts that I put on in RTH........big air pocket was Mondays RTH high to Tuesdays LOw....

can everyone see how that is another type of air pocket or do we need a chart?
Originally posted by phileo

I wouldn't have believed it if I didn't see it.

My only question is, did you hold thru that round trip to re-test 1098?
If so, congrats to ya for sticking to your guns. I would have surely cashed out somewhere along the retrace move back up to 1098.

Of course, now that we are below 1081, there is so much downside momentum that I am compelled to look for short setups.
they will consolidate in that pocket before deciding a direction...hopefully more down into 73 - 75 still as a big RAT there....notice how someboday wanted to keep it away from the 1100 and 75....could it be option traders trying to suck premium ..? not sure......

if we really trend they will try all the way down to hit 67 ...TODAY!!