ES short term trading 9-22-10

I think the O/N session sums up all the key areas which are

1127 - 1128.75 - Key volume from Mondays rally, breakout point and just under O/N low *******

1133.75 - 1136 - peak volume when Fed announced and magnet price from YD, gap fill and O/N midpoint

1140 - O/N high and near Mondays high


we know they like to break the Mon- Tuesday range!

we need to be aware of Pauls .62 concept and it's targets . From now on I'll call it the P-62. I like it !

My early bias is long at 31.75 to get above 34.50 but if we start spending time near 27 ( when day session opens) and buyers don't show up then the bias needs to shift.

At 9 am we are set to open inside YD range. So be careful if they drive it right out of that range lower with volume at the open. Then I will be long and wrong and will need to cover. Will watch volume closely and a report at 10 a.m.

on the 31 short.....crapy time of day so light and these types of days like open print and 50% retrace...(33 area )...double low 30 minute bars can hold but often get tested....biggest concern is that huge $tick divergence on lows.....just not sure if buyers trying to sneek back in

gonna go watch paint dry for fun

27.75 will be initial if this rolls over....32 - 33 is my danger zone up top above my trade..that is where volume spikes are....which one will trade first??

revising first target to a PRINT of 28....that is high of a volume spike bar on downside

if you look at the time 12:10 EST ...you will see the other volume spike and why I started shorts at that 31 print....it's all about volume...the rest is just silly lines on our charts


They ALWAYS like to TRY and test volume....it doesn't mean they will actually be able to push it far enough for a complete test though...we capitalize on them TRYING to make the test.....and make more money when they get a complete test...just try and pick pieces off along the way.....the greedy get what they deserve....you know the old saying!!!