ES short term trading 12-20-10

Selling at 43.50 ......good chance for at least 39 - 40 retest...but this will be on a time stop...as we need to get back there in the first 45 minutes of RTH...will watch official open print for 1/2 gap fill


If these two targets don't hit in the first 45 minutes then we have the potential to trend higher as a trend day today....we know the 50 RAT looms above

Key for me as far as price action will be a hold ABOVE 44.50 as that is R2 and current O/N high and if that happens then this short will lose

will be watching 30 and 60 minute closes above the weekly open for clues if it happens today

hey Lorn is CD still diverging up at this 42 - 43 area or did they bust that out in the O/N run up?

Its not diverging with today's high but its still majorly diverging with the highs from last week.

thanks..interesting profile...seems a bit early for this rally to keep going...thought they'd want to bring it back to the center still....we;ll see what the 2:30 close brings...that could be etrenity if it keeps trending...especially if it is above the 44.50 / O/N high's

a tough call/////they closed it above open but right at O/N high..my feeling is back to center soon

still looking for 41 retest but this is second try after loss over lunch...this one is from 44.75.....I will not be too comfortable at the 3 pm close if it is above 44.50...I was really expecting selling to come for at least back to 42.50 and then 41..which is basically the point of my first fade( the 42.50)...that lost!

so far it seems that all that volume that pushed out O/N high into R2 is not attracting more buyers...but we can't deny that it is a double top that shows no selling impulse either yet..

confusion: two closes above the open but also at or below the O/N high....I need more data

ideal situation for the buyers would be to get closes above open AND the O/N high......now the fun begins!!

Interesting to watch it take out trips and make new trips as it drops...must be the low volume holiday week.

45 - 47 is key Resistence in O/N...hitting that now!!