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ES short term trading 7-27-10


All numbers below Mondays low remain the same but on my radar are

1115 - 1116 Value area high of the composite I'm watching - Ideal to sell above there on a gap higher in RTH or in O/N if you dare..
1108- 1109 - peak volume of composite and now todays session

1104.50 _ Ledge but I think they may get that in O/N session

1101 - 1102.50 The breakout point and single prints


We've had two large closing $ticks recently.
Most will look at today as a trend day....I don't, but still like a sell the rally mentality. Third up day in a row..
I think they will want to test 1000 and even down into the mid 80's as per the weekly pivot....Volume lower the last two days as per my I/rt data.. My bias is short for RTH ESPECIALLY if we gap higher. A gap lower will need to wait and sell a first strong rally up with high $ticks.
triples at 1108.75......Nice commentary Lorn...great stuff
took a small short at 1112.50...monitoring to see if they can fail once more at YD highs...for those triples...good High $tick push
gap in data at 1108.25 !!
Originally posted by BruceM

took a small short at 1112.50...monitoring to see if they can fail once more at YD highs...for those triples...good High $tick push



Looks like that 1112.50 is holding along with VWAP for now.


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footprint 7272010b
Something interesting to note.

Gold is selling off.


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futchart ashx
I noticed one day something you said about using this forum to keep your head straight and focused.

I agree it certainly helps because its forcing me to observe my own thinking by posting.

Cheers!

Originally posted by BruceM

triples at 1108.75......Nice commentary Lorn...great stuff
Lorn, what are you making of Gold selloff?? leading es lower or traders rolling out of golds safe haven into equities?
My current thinking is gold leading equities down. Obviously I don't have much to base that off, I'm just trying to be aware of the big picture.

Originally posted by chrisp

Lorn, what are you making of Gold selloff?? leading es lower or traders rolling out of golds safe haven into equities?
Anyone see a breakdown today
(ES going below 1095)?

1091.25 low target? Any thoughts?
If VWAP keeps a lid on prices I could see a possible breakdown but this recent 5 min price surge has come on a volume spike.

Originally posted by blue

Anyone see a breakdown today
(ES going below 1095)?

1091.25 low target? Any thoughts?
Funny thing ... after reading this post, I'd planned on watching it. Then I roll over to my girlfriend's place for the evening and the first thing she tells me is that she wants to watch a Tony Robbins show coming on tonight.


Btw, there's a really cool presentation he gave that's on TED online. I'm not much into the self-help books/gurus/arena ... because I'm beyond help. My degree in Psych confirmed that to me. But I really got a kick out of the vid of Tony on the TED site ... he rocked the house. Here's the TED link of the video for anyone interested:

http://www.ted.com/talks/tony_robbins_asks_why_we_do_what_we_do.html

Originally posted by BruceM

Thanks.....one of my mentors from the late 80's and early 90's is on TV with his own show tonight......Tony Robbins....doesn't matter if you like him or not....I'm sure he'll have a few "choice words" that may inspire you to improve your life or inspire you to take action at improving your life in some way...perhaps it will only motivate you to get going in some new direction....

Reality TV on NBC at 8 PM est....