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Es short term trading 9-2-10


Numbers today

1082.50

1077.50

1071.75 - 1073.75 **** key support


1065.75


1059 - 1061***


Further upside will be determined by O/N high if reports at 8:30 rally the market
Here are some numbers on the NQ that should produce some good trades.
pay close attention to the 1828-1831 area lots of s&r around that area.

1801
1811
1823
1831
1847

sq nine
1807
1828
1849

other important numbers on the upside...
1842.5
1850.25
1860.5
I'm on 84.25 short looking for the 82.50 retest...yesterday was the "P" profile and thinking that they will try to fade extremes early on today
I like a "sell the rallies " mentality for the day session . If the O/N is going to stay symmetric then they will need to retest 80.50...so that is secondary target...may need to wait for day session...but that is 50% of O/N range and a swing low that seems too obvious
A look at PRC Bands on the 30 min along with some projections.


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30fibprjec9022010
Those PRC bands seem to produce some fairly low risk trades on the SECOND test of your bands Lorn...when they make the 1-2-3 pattern
two reports at 10 today..FYI.....I'm Only trading short above 82.50 today..or at least early on
I agree and even better when a decent fib number is projected into that area of the band or even better with a spike just above to touch a fib projection.

Originally posted by BruceM

Those PRC bands seem to produce some fairly low risk trades on the SECOND test of your bands Lorn...when they make the 1-2-3 pattern
A look at footprint into the open. Volume seems to be mostly above VWAP here in the O/N.


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footprint 9022010
Significant R 84.5-87.5
The fib levels to the left are for the decline from 1128-1037.

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es 09 10 922010 60 min3
so 80 - 82.50 will be our top dog after reports hit at 10....I hope they run it up first as I am not a great buyer of declines in general and would like an opportunity to sell the rally again...will look at 2.5 - 5 points above O/N high for shorts if they run it up...which goes well with some of your numbers David...

Key question: what kind of volume will it take to break it away from the entire consolidation of yesterday and the O/N..? I think a lot....as we consolidated for most of YD except that first hour run
91 would be a good target usually.
seeing a lot of volume here