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ES short-term trading for 7-15-10


Bruce,
You were right again (what else is new)
I see 81 printed, but I don't remember why you expected it.

Today is looking pretty grim, especially with the seasonal weakness koolblue had in that average performances of trade days of the month.

It is before 11 o'clock and the ES has already undercut its 5 day average of the Low versus the Open which is at 1086.50 for today. A move like this often means trend sell day.

with 5 day average RTH range at 12, today's RTH H minus 12 = 79.75, have to watch PA there , with second air, return to 83.25 likely? Am I reading this right, Bruce?
88.25 is peak volume of first hour FWIW!!
So to summarise todays scalps for me... resistance at 1086.75, 1088.50,1090.50 ..post from today at 12:34
two things are unresolved from today...that low near 79 and 82.50

85 becomes key price to for long/short now....so think about shorts if we can get below the 85 !!
Originally posted by koolblue

So to summarise todays scalps for me... resistance at 1086.75, 1088.50,1090.50 and support at 1074.75, 1068.50 and 1066.50.. Could alwys change, but thats what my charts are currently telling me. Looking off a little longer term... higher prices coming ,but weakness probable for a while first. Note that so far today, it looks as tho we are getting the early strength ,later weakness scenerio, and if that holds thru out the day ,would be short term bearish. also we appear to be getting daily range expansion on a down day ,also negative... just some thoughts FWIW..LOL


I saw that break of 1086.75, and got long for the 1088.5 target you mentioned.

You've nailed these numbers right to the tick, great job as usual!

Just curious though, I didn't see 1088.5 in any of the charts that you posted, do you have a link?
short ,of course, but one only trying for 1086.25 (filled at 88.25)
true , the 88.50 number came from the 30 min chart mov avg and the 100 ema mov avg on the 13 min chart also... good eyes, at least some one is paying attention..lol
wow, already got my 2 handles!..out at 1086.25 ,,now up 7 handles and change..probably wont sell 90.50..will wait for the termination ratio(4.236) around 93.75
I'm hoping someone understood why I took that long.....they ran out the triple on the lows first so that left the double top on the 30 minute to target..( in actuallity they where in the process of forming a third 30 minute mathcing high)..now if they ran out that top first then I would have gone for the triple below...


does anyone see the logic there or am I seeing dead people again?
Originally posted by koolblue

wow, already got my 2 handles!..out at 1086.25 ,,now up 7 handles and change..probably wont sell 90.50..will wait for the termination ratio(4.236) around 93.75


If you're not going to sell, then why not buy 1086.5 ?
I think they want to test 84 again...little time spent there today and nested between that 85 number and the 82.50..so small short at 87.50....tough time of day!
You can look here in the morning as it will be updated by then but we have had lots of high closing $Ticks this week...

http://www.wallstreetcourier.com/index1.htm

so doubt we have lots of divergence lately. This guy corey posts some simple but effective view points regarding internals too..

www.afraidtotrade.com