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Es short term trading 7-29-10


Numbers I'm using on Thursday


1115.25 -1117

1108 - 1110 *********

1096

1089 - 1091

1082 - 1084


let see if the reports and O/N can help refine these a bit
Not sure if this volume at 1105.50 means anything..I'll gues we'll find out...1109 will take this out now
and now the dreaded hour range...5 minute to go!!
moving final target to 1102.75
My Morning Notes
Click link to access uploaded file:
Morning Notes - 07-29-10.PDF
gap fill @ 1102.0
Way to go Bruce!!!!!
well we have our answer to which way the Monday & Tuesday range will break......we crushed them!!

Two keys for me on my early sells.......that low volume after the report at 8:30 reports was lower that YD 8:30 ...and then we had the frist 15 minutes of RTH with HIGHER volume and a poor close after testing the composite VA high.......where there any numbers besides fibs near 1112 ? curious..

First hour consolidated under my key 1108 - 1110 and the POC from yesterday at 1106.75.....
89 - 91 is a key zone!!!!
Originally posted by BruceM

well we have our answer to which way the Monday & Tuesday range will break......we crushed them!!

Two keys for me on my early sells.......that low volume after the report at 8:30 reports was lower that YD 8:30 ...and then we had the frist 15 minutes of RTH with HIGHER volume and a poor close after testing the composite VA high.......where there any numbers besides fibs near 1112 ? curious..

First hour consolidated under my key 1108 - 1110 and the POC from yesterday at 1106.75.....
I think the 1113 was key resist from Tues pm high
I'd like to see another push down to test the 89 - 91 and find a long to get those quadruples above 95!!!
Did anyone read about the CSCO halt. Appears the liquidity at the top of the book exhausted and some trades higher were questioned, but eventually let to stand. CSCO ended the day near the low if my screen correct. I'm not sure but the first release I read came about the time of the low today.

Another funny thing today. GS seemed to be the only bullish bank stock I watch. Read several that think it's going higher than today. I don't care but thought it interesting how it acted. Read there is a lockup period after earnings and that's why it's down recently? I'll watch it AM. Any red and it's a warning to me.

I bring these two things up because in the context of Friday, it might matter.

Did you note how the selling pressure lifted at the Europe close but the initial reaction was less than fast? End of month might not matter if they're selling prior to their August holiday period.Will be interesting to see AM before they close tomorrow.

I mention these things as anomolies. I defer to a chart but recognize what I consider could be manipulation, if one believes in such fantasies.

Some fed gov said today he's against anymore monetary support for the economy and the fed has done a good job. Sounds like a nail to me. Hope it's not the last?