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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
took the loss at the new high...I was afraid of this.....will try again above 1204.50...knowing that they may push up into 06 - 08
on 06 short ...will add at 08.75 if it comes...03.75 is initial target....

go to my least you are consistent my friend.

Originally posted by BruceM

on 06 short ...will add at 08.75 if it comes...03.75 is initial target....

go to my
that's 8 points exactly off the ledge to the far...congrats to buyers.....u took my money.......I'll get ya !!!

Just kidding!
two sets of air now......and we know one at least will fill...yeah, we know it!! so adding to get that 05 print
that would have been second air pocket and now is not the time to trend and we hit the 8 point so i was adding...for that 05 pocket....I hope somebody gets that trade.. a good probability but scary.....and too fast for me to post add on but hope the logic can be seen
major air begins below 04.50 now....I'd like to see a low volume test up to re-add
The six point gap up on the S&P led me to believe RTH today will be a long day. Question now is how long?
Here is the larger picture as far as cumulative delta is concerned. There is another resistance level marked at -31k contracts which is where selling was initiated early last week.

Click image for original size
footprint 12012010b
I'm trading as if a giant rubber band is attatched to 03.50 now..agressive ..will add higher near 07 if needed
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!