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ES short term trading 7-21-10


Here are the zones I'm watching

1101 is low volume based on composite work


90.50 - 93 ***** HV area from the composite

85 - 86 - Fridays high and POC from Thursday

80 - 81 Tuesdays high and volume node

70 - 73 ************ key support, high volume , Va high ---Bold intentional

66 **** single prints

61.50*** High volume


56.50 ****high volume


My plan will be to sell rallies with high $ticks...especially if we gap up in RTH into one of our two key zones above today's highs....we know what usually happens after trend days
this is one of those " they know, that you know, that they know the triples are there" targets
look where lowest range 15 minute bar is
Theres the 1081.00 projection...little struggle here then higher this afternoon?
..if not next stop would be 1083.50, then 86ish
I'm buying new at 79.....
yeah 79 is the red avg on my 5 min chart...should hold the uptrend
this current 30 minute high matches another ( so far)..so if it isn't run out there will be a ledge..so I'm planning on running that out


hopefully from not too much lower than my 79
why do I think I'll need to add to this....? ...volume killing me....will add below 76 if needed if a good low $tick push..
anyone pay much attention to daily vol, yest 30 pts up 1.75 mill,
Mon 14 pts down, 2.5 mill, or expect more vol on Mon??
81.25 is 50% retrace from globex H, bears might not be finished...fwiw
Originally posted by chrisp

anyone pay much attention to daily vol, yest 30 pts up 1.75 mill,
Mon 14 pts down, 2.5 mill, or expect more vol on Mon??
81.25 is 50% retrace from globex H, bears might not be finished...fwiw


Yes we still are in some kind of expansion of volume going down and contraction of volume going up. And VWAP is holding this sucker down today for sure.


Click image for original size
volume1
Originally posted by chrisp

anyone pay much attention to daily vol, yest 30 pts up 1.75 mill,
Mon 14 pts down, 2.5 mill, or expect more vol on Mon??
81.25 is 50% retrace from globex H, bears might not be finished...fwiw
Very good point.. today is as ive shown my 13 day low and statistically the most bearish seasonal day of the month... by all probabilities ,it should be a down day , but i feel 'the price low' may well have been put in yesterday at 1050 and todays vol, especially if lower than MONDAYS 2.5 mill and a down day might indicate selling is drying up.. we'll just have to see how it plays out!
Sounds interesting to me Phileo - looking forward to it.