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ES short term trading 01/14/11


I agree with koolBlue as to the high gap opening tomorrow because it is the only way the ES will overcome the 1283/1284.50 barrier if it wants to continue higher.

Looking at the all sessions 60m chart you will see that it's attempting to make what appears to be the #2 E.W. Notice also that the oscillators are moving downwards towards the oversold area. Maybe they will turn right around the 50% oscillation, creating a short down cycle.

if that is true, then "if awake" I'll be buying above 1284.50 (Today's high) or lower if a set-up presents it self in a lower time frame. Then I'll be holding on to my horse. LOL
Maybe the Asian market will do the buying, around 2AM E.T.

Will see, and as always; the market has the last word and in due time will show us the way.
yeah kool that first touch of 1282 was good for a real nice win, my second attempt to short 1282 blew up on me. Just entered a new short at 1284 for no particularly compelling reason.
Yeah, P.T., because the 13 min and 30 min charts are very close to overbought , even tho im still bullish till next week (as you probably know) i feel that short term the short side has the best odds. 1287.25-50 would be ideal, if its hit by say, 12:30- 1:00 or so. There is support around 1280.50-1281.00, imho and of course 1278-9.. Good luck ,pal.. have to leave for a bit...
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1057
once again no trade below a previous bars low today...short unless 30 minute close above 1285
1284.50 so far is a wall. The ES has tested it two times this morning. I'm only taking long trades on pull backs if the set-ups are there. Taking short trades are 50% more riskier if above 1278.00.
Yes I know the thinking that goes with it. Uh but what about from 1284.50 to 1278.00? Your money, not mine. Sentiment is bullish. ---- unless below 1278.00

ES trading 1283.75 @ 12:04.

Time for some delicious lunch.......
Originally posted by i1hunter

1278.00 hold up well and moved up to the 1282.00 target. 1278.00 still the base support and above 1282.00 will target 1287.00. I'm keeping my eye on 1284.50 (yesterday's high, there's strong resistance there. I'm flat and waiting for next set up.

ES trading 1280.75 @ 10:10
Originally posted by i1hunter

The set-up never came up, so my alarm never went off to wake me up.
Currently and base in my calculations from the 1274.25 low made O/N If above 1278.50 will target 1282.00 and possibly 1287.00. Failure to find support at 1278.00 will have me looking for a retest of the low and possibly lower to 1273.75 and 1269.50. Will see, in due time the ES will show me the way.

ES trading 1278.00 @ 09:22
Originally posted by i1hunter

I agree with koolBlue as to the high gap opening tomorrow because it is the only way the ES will overcome the 1283/1284.50 barrier if it wants to continue higher.

Looking at the all sessions 60m chart you will see that it's attempting to make what appears to be the #2 E.W. Notice also that the oscillators are moving downwards towards the oversold area. Maybe they will turn right around the 50% oscillation, creating a short down cycle.

if that is true, then "if awake" I'll be buying above 1284.50 (Today's high) or lower if a set-up presents it self in a lower time frame. Then I'll be holding on to my horse. LOL
Maybe the Asian market will do the buying, around 2AM E.T.

Will see, and as always; the market has the last word and in due time will show us the way.


Here is a look at VWAP coming into the 1:00 hour. Prices remain locked in the 3rd band area. To a fader this is oversold but some days that sell off never comes. 83.25 showing the big volume for the day so far. Something has to change otherwise it will be more of the same this afternoon, higher lows and higher highs.


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1minvwap01142011
shorting 88 even up here
already got my teeth kicked in today going short and had to recover.
I dont' think any short today is worth the risk..seems to be one of those days when the market will continue up regardless of any signals or news.
there is the first previous low test of the day....into single prints...now it gets interesting..no question a tricky fade up here
88.75 is R2 today and the rat is 87.75.....can bearly get a point so far...84.50 is ledge but that can be at eternity on this trend day..
it had potential but the signs of trend are here...like the test and hold of the open print, the closes above yesterdays highs,the Overnight high and 60 minute highs....so all those things had me thinking that would be a tough fade...comparing this chart with Wednesdays chart offers lots of educational value..

Congrats to those who were able to hold for those upper numbers and nice projections too.