ES Short Term Trading 8-3-2010

02-Aug
1124.25
1110.25

possible highs for the 3rd:

1110.50
1110.75
1111.00
1111.25
1111.50
1111.75
1112.00
1112.25
1112.50
1112.75
1113.00
1113.25
1113.50
1113.75
1114.00
1114.25
1114.50
1114.75
1115.00
1115.25
1115.50
1115.75
1116.00
1116.25
1116.50
1116.75
1117.00
1117.25
1117.50
1117.75
1118.00
1118.25
1118.50
1118.75
1119.00
1119.25
1119.50
1119.75
1120.00
1120.25
1120.50
1120.75
1121.00
1121.25
1121.50
1121.75
1122.00
1122.25
1122.50
1122.75
1123.00
1123.25
1123.50
1123.75
1124.00
1124.25
1124.50
1124.75
1125.00
1125.25
1125.50
1125.75
1126.00
1126.25
1126.50
1126.75
1127.00
1127.25
1127.50
1127.75
1128.00
1128.25
1128.50
1128.75
1129.00
1129.25
1129.50
1129.75
1130.00
1130.25
1130.50
1130.75
1131.00
1131.25
1131.50
1131.75
1132.00
1132.25
1132.50
1132.75
1133.00
1133.25
1133.50
1133.75
1134.00
1134.25
1134.50
1134.75
1135.00
1135.25
1135.50
1135.75
1136.00
1136.25
1136.50
1136.75
1137.00
1137.25
1137.50
1137.75
1138.00
1138.25
1138.50
1138.75
1139.00
1139.25
1139.50
1139.75
1140.00
1140.25
1140.50
1140.75
1141.00
1141.25
1141.50
1141.75
1142.00
1142.25
1142.50
1142.75
1143.00
1143.25
1143.50
1143.75
1144.00
1144.25
1144.50
1144.75
1145.00

That's a lot of numbers....

these are mine for tomorrow

support

1115.50 - 1117.75 single prints and last weeks highs


11108 - 1110 peak volume last week and Mondays low

1103.50 low volume last week and fridays high


resistance


1124 - 1127.50 Mondays highs and high from 6-21


1132.25 VA high of the merge of 5/14 -5/18

1135.50- 1137.50 single prints from may 18th...and daily and weekly numbers

1142

WOW! ummmm ... no comprende. What am I missing on this except a few tick prices that I may have overlooked between 1110.50 and 1145.00? Btw, you left out the KEY REVERSAL level at 1145.50.

But seriously, what is this Blue? It's funny as sh@t in a way if a joke ... otherwise, I'm in a braintwist.

Originally posted by blue

02-Aug
1124.25
1110.25

possible highs for the 3rd:

1110.50
1110.75
1111.00
1111.25
...
...
etc.
1144.25
1144.50
1144.75
1145.00

Range Based S/R

R1 = 1129.875
S1 = 1096.125
R2 = 1135.5
S2= 1090.50

Steenbarger Pivot = 1117.25

FWIW...

The cash S&P 500 closed above its 200 DMA and a trend line connecting the lows of 7-08-2009 and 5-06-2010.

Originally posted by MonkeyMeat

WOW! ummmm ... no comprende. What am I missing on this except a few tick prices that I may have overlooked between 1110.50 and 1145.00? Btw, you left out the KEY REVERSAL level at 1145.50.

But seriously, what is this Blue? It's funny as sh@t in a way if a joke ... otherwise, I'm in a braintwist.

It's a joke MM.

Heh
So what levels do you actually have ... and toss some rationale/analysis behind it to help us out. I'd post my levels, but I'm not comfortable with where I see S/R levels today (or the past few days actually). Nah, I gotta do better than that I'm thankin' ... so here's something fwiw.

Walkin' it down:
1147 signif price Resistance level off what I see on Daily and multi-time frames
1135 just Wkly Pvtw fwiw
1130 (thought today was gonna make it up there)
1117 price action Support+Wkly Pvt
1113-12 Minor price action Support area
1104-1100 Major price action Support ZONE + Wkly Pvt (and "round" #1100)
1191-89 Decent price action Support area

Btw, I'm finding over the past few months that RTH and ETH ("overnight") that S/R levels are losing weight from the RTH and it's getting more 24-hourish for finding and determining the levels that will tend to function as S/R. More signif moves in the mkt are actually taking place outside of RTH more and more. Just an observation. There may be more and more opportunity to trade ES outside of RTH ... but obviously us heavy stock traders are stuck with trading inside RTH (for the most part). Done blathering!

Originally posted by blue

[quote]Originally posted by MonkeyMeat

WOW! ummmm ... no comprende. What am I missing on this except a few tick prices that I may have overlooked between 1110.50 and 1145.00? Btw, you left out the KEY REVERSAL level at 1145.50.

But seriously, what is this Blue? It's funny as sh@t in a way if a joke ... otherwise, I'm in a braintwist.

It's a joke MM.

Here's my uncertain S/R chart map of 30min bars. Is a visual for the levels I posted above:



Hope it's useful. I still can't find many stocks at all that look good long. That, along with this run-up makes it feel long in the tooth to me - at least short term.

Great observation on S/R levels. I don't know if it means the players are trading more around the clock or the players are changing but its something to be aware of for sure.

Originally posted by MonkeyMeat

Heh

So what levels do you actually have ... and toss some rationale/analysis behind it to help us out. I'd post my levels, but I'm not comfortable with where I see S/R levels today (or the past few days actually). Nah, I gotta do better than that I'm thankin' ... so here's something fwiw.

Walkin' it down:
1147 signif price Resistance level off what I see on Daily and multi-time frames
1135 just Wkly Pvtw fwiw
1130 (thought today was gonna make it up there)
1117 price action Support+Wkly Pvt
1113-12 Minor price action Support area
1104-1100 Major price action Support ZONE + Wkly Pvt (and "round" #1100)
1191-89 Decent price action Support area

Btw, I'm finding over the past few months that RTH and ETH ("overnight") that S/R levels are losing weight from the RTH and it's getting more 24-hourish for finding and determining the levels that will tend to function as S/R. More signif moves in the mkt are actually taking place outside of RTH more and more. Just an observation. There may be more and more opportunity to trade ES outside of RTH ... but obviously us heavy stock traders are stuck with trading inside RTH (for the most part). Done blathering!

Originally posted by blue

[quote]Originally posted by MonkeyMeat

WOW! ummmm ... no comprende. What am I missing on this except a few tick prices that I may have overlooked between 1110.50 and 1145.00? Btw, you left out the KEY REVERSAL level at 1145.50.

But seriously, what is this Blue? It's funny as sh@t in a way if a joke ... otherwise, I'm in a braintwist.

It's a joke MM.

Hi Bruce,

The more I think about your question the more rude it seems - though I'm sure (hopefully) that you didn't mean it.

Your question implied that:
1. I was too stupid to pick a trade to within 1.50pts on my own
and
2. that I was intellectually dishonest enough to do so.

When you look at the enormous numbers of possible highs that K posted it seems to me that it is stupid to imply that I could have, if I had chosen to, guess which of the 30 odd choices was the number.

So now that you have insulted me in the forum, perhaps tomorrow around the middle of the day you will shift through the copious choices of k and post a trade from them.

Either up to (x to x+1.50)
OR
down to (y to y-1.50) as I did.

No evasion now Bruce.
Read K's post and come up with one clear trade.

Hi MM,

I don't trade with S/R levels.
Also if I did I would adjust them with the opening price and or the preopen key levels.

Given these cavets here are some general numbers

S/R
Turn Pts
1145.00
1129.50
1115.00
1099.00
1087.00
1071.00

Alternately, you could use this series which is adjusted at open by the difference between Y close and today's O.

Adj RTH
1137.00
1131.50
1123.00
1117.50
1103.50

The reason that we are here is to learn more from each other. The quality of discussion on this forum is exceptionally high when compared to other trading forums.

Getting into arguments in cyberspace is a losing battle. You will never win and all parties will leave upset and frustrated.

Let's follow the popular sentiment already expressed and put this behind us and move on.

We all want to learn more and be more profitable and fighting works directly against that.

I frequently receive PM's from site members when this sort of thing happens. If you have any concerns that you don't want to post in public then feel free to PM me.