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ES Short Term Trading 12-01-2010


Here is the cumulative delta picture. Yesterday as prices rallied CD (cumulative delta) found resistance at the Friday peak, then as prices sold off CD stopped at that support area where buying has been entering the market over the last two days.

Now we have this large rally in the O/N but CD is still below yesterday's peak.

What this all means is within the last few days price range there has been no real net gain in either short inventory or long inventory.

Lets see if RTH brings in new volume.


Click image for original size
footprint 12012010
Interesting idea...I quickly tried to draw one but the software doesn't seem to be able to do it.

Originally posted by BruceM

This just popped into my brain while I'll sit here.......have you ever put a Market profile chart on the Cummulative delta....via TPO's....just throwing that out there...

I'm selling above 1200 now......new highs will scare me out most likely unless volume drops off.....stuck in hour range ...AGAIN...boring!!
tricky part on this fade is that they may have just tested the 95 - 97 zone from above and will drive it away again ( higher) and smoke me good,,

I really thought we'd see another test down by now.....I guess we need to move overseas and trade in the day session...LOL!
trying to target that swing low near 98 to cover and tighten runners...just not convinced of any real direction yet..unfortunately all the volume is right at my entry...so basically I sold in the middle which is a big NO- NO !

Better to sell higher with expectation to go back to the middle volume area
Yea..1200 is the volume leader as of right now.

Originally posted by BruceM

trying to target that swing low near 98 to cover and tighten runners...just not convinced of any real direction yet..unfortunately all the volume is right at my entry...so basically I sold in the middle which is a big NO- NO !

Better to sell higher with expectation to go back to the middle volume area
added at 1200.75...u see what is below?
this is one of those RIPE environments where somebody hits the button and a big ( relatively speaking) spike up or down happens....and I need down spike to run outthose 4 matching lows quickly.....right at luchtime
quads for lunch anyone?

Originally posted by BruceM

added at 1200.75...u see what is below?
if that ledge goes unbroken then they will go for 8 points above and I'm not willing to handle that drawdown......c'mon reversion traders///lets get those shorts on!!
And with the 2.000 level of Monday range sitting at 1207.75 I'd cover real fast in your position.

Originally posted by BruceM

if that ledge goes unbroken then they will go for 8 points above and I'm not willing to handle that drawdown......c'mon reversion traders///lets get those shorts on!!
I think we will be in this channel for the next 3hrs with a final burst up, to 1211 as the objective.

1211 is 2.618%. Ext.

S/Rs at:

1195.00
1203.00
1205.50
1209.75
1211.00

The objective will be void if below 1195.00

ES now trading 1200.75 @ 11:48
haha! That is a new saying for sure....

"When it trends we will lose!"

Originally posted by BruceM

so now we have three magnets below:

1) quads
2) triples
3) single print complete fill

and when it trends we will lose!