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ES 5-10-2011


Interesting action so far. Look at that ledge forming and notice CD pushing down.


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esvwap05102011
This would coincide with that 2.618 projection up.

Originally posted by chrisp

longer time frame.... I am looking for a test of the 1355 area, as a 61.8 retr of last weeks globex 73.5 - 25.25. fwiw
finally some negative ticks...volume poor on this run up..compared to YD volume..trying for 47.75 ..low volume there
See how CD released back to its O/N high, exceeded it slightly while price did not. Now we are going to find out who has the upper hand, bulls or bears.


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esvwap05102011b
have that projection up on the 30 min chart as well lorn, but fwiw i also have some intermediate stuff in the 52.5-53 area that might clog the way to 56.5-57...and that 52.5-53 area could coincide with decent resistance on ym around 725...that's why i like that area before 56.5-57...if we even go up there, that is...

Originally posted by Lorn

This would coincide with that 2.618 projection up.

Originally posted by chrisp

longer time frame.... I am looking for a test of the 1355 area, as a 61.8 retr of last weeks globex 73.5 - 25.25. fwiw

lets see if the $tick and volume divergence is enough to roll it down over from new highs
This lift is a search for stops above / at Friday's Highs. (1351.75)

interesting how it prints to the tick.

I prefer to see print 1 tick past (above Fri H)

without exceeding the High, ther is always a question as to whether there are sellers or buyers above the previous H.

price can intraday retrace, but then go up and try again.
plan is to add above 52.75...great entry before and missed my exit so now jammed up
need to get back under O/N high...single prints below..volume still poor on this up move
btw, Paul's Monday RTH .618 move comes in at 1353.25 (or 1353.50) ... which, if reached, then suggests price is likely to trade the full 1.0 X Monday's range at 1357.75 ... just a heads-up
I was just going to mention that, MM.

no way to know whether it hits or not.

have to see whether vwap acts like support

one crutch I do lean on is the NQ. I watch it expecting it to be a leader. but right now it is a laggard. could pull ES down

vwap currently near 1349-1349.25
Thanks, Lorn.

That is a goal I have to persue.

your reminder has increased my determiniation.

it is now time for action.