No registration required! (Why?)

ES short term trading 4-1-11


Good morning! Set for a wild open, eh! I thought i'd briefly touch on the thought process i have going into a typical trading session. First, as you may know i have a longer term bullish bias, thinking that 1241 was a supreme buying opportunity to an expected move up to 1426 at a minimum, probably by June. I am much more cautious shorter term however,feeling that a short term top may be overdue. So that the set up! Now for today! Yesterday i pointed out 2 days with a very tiny daily range in the es, would likely yield a big range (strong move) day very soon. The fact that today is unemployment day made that a no-brainer. lol. Anyway, being jobs day, remember ive shown in the past that , historically, its best to 'fade' the opening move! That means if we open down, you would want to buy! Conversely ,if we have a strong move up opening, that would be bearish!... i know thats hard to believe ,but thats just history! It certainly appears so far that the bearish scenerio,may be taking hold... in other words i'll likely be looking for shorts! And heres what im looking at as we come to the opening of the rth session...
Click image for original size
1560
Originally posted by DRob

I doubt it, they probably left for the day =)


Originally posted by koolblue

well, the boyz in da hood... i mean pits, should be getting back from their three matini lunches any time now! Lets hope something happens!..lol

yeah, could be up at the Hamptons with the misrtess already! Hope not! Remember last time we had a day like this ,there was a wicked sell off right before the close!
well the red avg 0n the 5 and 13 min is around 1331.25-50 and the median line on the 5 min is at 1332.00 so if we dont break those ,thereds still hope!.. i hope!
Originally posted by koolblue

well the red avg 0n the 5 and 13 min is around 1331.25-50 and the median line on the 5 min is at 1332.00 so if we dont break those ,thereds still hope!.. i hope!

...btw, the spx cash chart i showed now has the boll bands widened up exactly to the ichi whatever cloud support at 1333.50-1334!!!..lol
..cmon one more push down!!!
Hey,Bruce! Just curious... your a volume guy, how come your not targeting that high vol at 10:15 today (which looks to have started around 1329.75)?
Hi i am new here.

Nice to read your posts.

My 3 min PRC is pointed down and the 10 min is pointed up and price is flat just above the open and above the opening range.
The volume spike after it was higher Kool so I give that more weight.....and also the opening range is right there...
Originally posted by mmaker

Hi i am new here.

Nice to read your posts.

My 3 min PRC is pointed down and the 10 min is pointed up and price is flat just above the open and above the opening range.
..hey mm! yeah my 13 min is strongly up too! thats why im trying to buy here...or actually a bit lower!
Bulls are getting ready..

Click image for original size
2011 04 011359
Current push in the ES may be due to Frankfurt market closing.
i'm at the office so i can't post a chart but if you look at early to mid Feb the market did the same thing when they hit the 1330 levels. There seems to be a brick wall at the 1333-1335 levels. Maybe someone could look into this and confirm?
My guess is there is balance between sellers and buyers at these levels and with no significant news or reports we will stay stagnate until that changes with earnings reports or other news.
with recent flar ups of trouble in jordan and the middle east,our own senate not able to agree on a budget, i would suspect the market is approaching higher levels a little cautiously to see what happnes over the weekend.