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sold ES above 1213


here is why:


Pauls .62 of Mondays range hit and we also rallied as far as the gap units....so that shakes out those players who faded the gap.


Air is below - see 5 minute charts and we have key area at 1208.50 - 1209.50...this is high and low volume areas and the O/N high is near
fwiw, ES June 2010 contract high was on 4/26 at 1216.50 (RTH) and 1216.75 All Hours
yup..here is what I saw:

YTD high 1216.75 also 1213.00 was a range extension
I always look for mid point so 1216.75 + 1213.00/2 = 1214.87

not sure we're thru going up....we'll see
Good observation and can be seen in the S&P cash index still below its April high as of right now while the Dec ES is above.



Originally posted by MonkeyMeat

fwiw, ES June 2010 contract high was on 4/26 at 1216.50 (RTH) and 1216.75 All Hours
are they even gonna give us a plus 8 today...? yikes, this is suppose to be so bullish......more range in O/N session than day session


13.5 is peak volume price now.....somebody has got to break it away from there and soon.......just watching now ....no real clue....would prefer a selloff only for my SDS shares but no other good reason...



Many MP players are looking at the single prints as holding and the open print at the lows as a sign of bullishness for the days close.......they may be right...once again the afternoon provides me with only confusion..!! all I really know is that we shouldn't be initiating at 1213.50 number....
what the market will basically do with these high volume nodes is try to push away from it up or down and if VOLUME doesn't come in on the push away it will revert back to the peak volume price....and right now the pushes up are on low volume



mean reversion trading this late in the day is riskier but there are gaps forming which happen in low volume so fading the push up into 15 is a smart move I think ..GAP BELOW in data.....
tough call short-term:
blatant divergence between ES and NQ as NQ languishes at levels shy of H,

but the momentum in place for ES (short-term) that be might not be satisfied about upside until CASH kisses H of Year... 1219.80 from 4-26-10
Even markets like kisses!

Originally posted by PAUL9

tough call short-term:
blatant divergence between ES and NQ as NQ languishes at levels shy of H,

but the momentum in place for ES (short-term) that be might not be satisfied about upside until CASH kisses H of Year... 1219.80 from 4-26-10