ES Short Term Trading 8-4-2010

Today's announcement's from the Economic Events page:

07:00 AM MBA Purchase Applications
07:30 AM Challenger Job-Cut Report
08:15 AM ADP Employment Report
09:00 AM 3-Yr Note Announcement
09:00 AM 10-Yr Note Announcement
09:00 AM 30-Yr Bond Announcement
10:00 AM ISM Non-Mfg Index
10:30 AM EIA Petroleum Status Report

...But if 19.25 hold we can see 26 per Kool

I don't mark it David but I know where it is. I prefer the Volume spikes as they will end up being more closely watched...yesterday it was the 16.75 ..today it's 21.50 and those work great on consolidation days....they become S/R...I did a thread somewhere on those but now I'm refining them with Tic data

equidistant today between the high, low and the 21.50 area....but your open works well too


Ghost town here in the market and the room,,,good opportunitues for us faders

Originally posted by DavidS

1122.25 R level was here. I type slow.

Do you mark an open horizontal line on your chart? I think today and yesterday about doubled up at the 1119.75 level? I use this a lot and note the doubled up levels seem to be more important as a pivot, imo.



Banks in general holding below R level(I think 4th time they tried to breakout) while GS does a run up,but off highs here. Maybe being paid for the prop job?
Goog above 500,AAPL stuck in middle of range so far today. PCLN up 51 off earnings. NDX above and so far holding 1096, (no big banks in it).

Wicked down move O/N. Break of 1129 prior high would be quite a move.I still like my choices posted yesterday but I can change my thoughts with a chart, so it's said. Looks okay so far to me except for the R levels , prior highs, lower highs,etc... :)
Right here and now looking for wave 2 down of 3rd wave up(if hi, and lo are an ABC wave).Obviously it's working here to find a decision.

Back at the open. 2 waves can retrace wave 1 by 100%(1116.25) but doesn't have to. Break that and not a 2 wave.

Solar flare!!!

last runner stopped ..will try again...


Not gonna keep posting these as looking back on this mornings numbers there where just too many to follow....but unfilled volume nodes at 24.25 and 17.25 as per 30 minute

Once again the 21.50 is attracting volume as per the whole day volume node...so look for another retest...form up here at 23 and higher

Ideal would be to see them run that ledge up near 24 and then rollover for the 21.50 again and the triples....I can dream!!

starting small shorts from 23...going lite because they will only consolidtae for so long....targte is 21.50 first

Hi Bruce,
Just sharing. Different methods and we that don't use volume have to compensate somehow. :) I learn a lot just by watching you trade that I didn't know before.
Thanks!

I'm new to the forum, but heartily agree with Sizeno. I hope Kool is just taking a little break, because losing his input would be a huge loss to us all.

I hope he returns too....lots of good info he has and helps everyone reinforce their work.......thanks for the good words,,,hope u enjoyed your vacation..

Originally posted by sjzeno

First day back from vacation... Reading all the past posts and threads trying to get back in the flux of the market.

There is a Kools price projection at 1116.75 with two confluences and they been spot on all day today! I hope he comes back I saw the argument with you guys and blue. I learned a lot from him and still have a ton of questions for him...

Bruce nice trading today

No more fades for me....seems more likely that they want to run that ledge out and most don't see the triple so going for them is a bit hard so late in the day...if we get below 21.50 again I will entertain it....otherwise the best path will be long to get that ledge run now

50% of the range of today is 20.75 and key volume is 21.50...it will be interesting to see if they try to break it away at days end or close it in the middle...it certainly would surprise lots of us if they don't run out that 24 high...now what would be really cool if they run it out and then sell it off....

here is the Key 25 RAT again..! vwappers want the 3rd band at 26.25 which goes well with your Kool number....My trading day is over...good luck if you are still playing today!

I agree DT. Thanks for keeping the mypivots site what it should be!!