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ES key levels on the downside


some levels as we go forward....downside only..wishful thinking perhaps as the world seems on bullish. Ranges are fairly small so zones are tight...not much room from level to level


1213.50 - 15.25 - VPOC and spike initiation point ****** key support for friday,,longs don't want it to open below that on Friday morning!!


1207.50 - 09.50 Thursdays RTH open and low volume

1202 - 1204.75 - VPOC from Thursdays O/N session

1197- 98.75 Gap and VPOC from ON

87 -91 VPOC and low volume - may rotate here a bunch to fill in the profile

84.50 - low volume area begins and HV from composite



78 - 81 ***** major support , the center of the universe....we have been watching this number for a long time
ON high is in my way with quadruple lows on 5 minute....should break it down
I think we still have a small up impulse for today.

I have resistance at 1126.50, 1129.50 and 1136.25. One of this levels will be the end of the next up impulse. For time windows I have 11:40, 12:44. 13:28, 14:34.
13:06.

for support I have 1218.25, 1214.50, 1210.25.

ES Now trading 1222.50 @ 11:31


Will see, in due time the market will show us the way
Originally posted by MonkeyMeat

Originally posted by prestwickdrive

Kool's Tools projection off retrace to 17.0 (17.0-19.25) gives 24.25 projection, fwiw

Nice ... within a tick of the high of the first semi-decent pullback. Would be nice to see a chart with that next time. Keep it coming!!


The first retace off the 24.5 high only yielded 1 point to 23.5. I don't put these on charts like KB used to and just hand calculate them so here is what I have. 1.0 (retrace) x 1.62 = 1.5. 23.5-1.5 = 22.0 projection which we hit.

Next down move after 22.0 should be based on 24.5 - 23.0 move yielding a projection of 20.5 (1.5 x 1.62 = 2.5 (rounded), 23.0 - 2.5 = 20.5) unless 24.5 is taken out.
Originally posted by prestwickdrive

Originally posted by MonkeyMeat

Originally posted by prestwickdrive

Kool's Tools projection off retrace to 17.0 (17.0-19.25) gives 24.25 projection, fwiw

Nice ... within a tick of the high of the first semi-decent pullback. Would be nice to see a chart with that next time. Keep it coming!!


The first retace off the 24.5 high only yielded 1 point to 23.5. I don't put these on charts like KB used to and just hand calculate them so here is what I have. 1.0 (retrace) x 1.62 = 1.5. 23.5-1.5 = 22.0 projection which we hit.

Next down move after 22.0 should be based on 24.5 - 23.0 move yielding a projection of 20.5 (1.5 x 1.62 = 2.5 (rounded), 23.0 - 2.5 = 20.5) unless 24.5 is taken out.


20.5 just hit too

next down projection off 24.5 = 22.25 - ((24.5-22.25) x 1.62)= 18.6 so 18.5 or 18.75 ... unless 24.5 is taken out
I'd be careful if anyone wants to sell below the RTH low of Friday or the current O/N low....remember we have a HV price from fridays early reports at 1215 and also thursdays HV price at 1213.25....
Originally posted by BruceM

I'd be careful if anyone wants to sell below the RTH low of firday or the current O/N low....remember we have a HV price from fridays early reports at 1215 and also thursdays HV price at 1213.25....


Watching two numbers: VPOC at 1213.50 & VAH at 1222.00
today should also be a good day for air pocket trades...especially if we open inside Fridays RTH range......my preference would be to buy into te first decline as long as the gap hasn't filled and ideally an air pocket to target...


No reports to mess up our fades today in early trade
That is some pretty range bound action. Oscillation around VWAP, bell curve shaped volume profile.


Click image for original size
footprint 11082010
If this pattern continues in RTH then the strategy is buy the lows with a target back to VWAP and sell the highs with a target back to VWAP.

Keep in mind this kind of action is all about time. Be patient things don't go as fast in this kind of environment.
Nice AIR "coverage" as a target to the upside from early morning lows ... I had a bid out at 13.75 but price didn't quite get there.

Hey Bruce, you mentioned 15 as a number you were watching (mkt. bounced off 15.25). What drew your eye to that number ... I didn't quite catch what you described in your earlier post (pardon my mental density this morning)?
Average True Range for RTH I'm currently showing 15.80 ES points. We are now 17.75 points.