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ES short term trading 8-19-10

Key numbers based on Volume spikes today




We will get another spike at the 8:30 a.m reports.

A failure to breakout of the Monday-Tuesday range today. 32 points of range so the longer term players will try and push it at least 16 points above the highs or 16 points below the lows
Market is trying to close within the IB low of 75
for bulls to take over they need to get above 75.75...and obviously not come back down....further upside keys are 81 and 84.50

70 - 71.50 is next potential downside target for shorts to try for

nothing working...
84.25 is peak volume magnet from when that report hit....keeping it on the radar for future use.....
they need to resolve this 75.75 volume...
Market has spent a LOT of time in the 1075-1070 range (8/15-8/16). I am looking for it to break long when it gets above 1077.

My SL entry short early this morning (before unemployment anncmnt) did not get filled as price steam rolled past me!

So... I need to wait patiently for a reversal signal.

Good luck to all.
there are prior pit session single prints 1066.25-1071.0, the top of which have held so far
open minus 5 day average of the range is

1086.50 - 13.50 = 73.00

so price is now trading outside the envelope of 5 day normalcy.

the move under 73 could have been a stop sweep.

days like this often see a lethargic rebound that ultimately runs out of momentum creating the possibility for a test of whatever the low established right now is.

Would expect an afternoon test of Low unless price can get back above O/N L of 83.25 (then there could be a short-squeeze if price gets above there)

Good luck trading to all. I am done for the day.
mondays open..70.25...gotta know it
As well as Mondays low....1066.25

Originally posted by BruceM

mondays open..70.25...gotta know it
gap down near 70!!
Joe they are PRC Bands. I've only found this particular indicator for Ninja Trader. No other platforms.

There are two different ones available. PRC and PRC2. I like PRC better, it responds a little slower which seems to keep prices from jumping ahead of the bands too much.

Originally posted by CharterJoe


What are those upper and lower shaded bands on your chart?