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ES 5-20-2011


Here is the weekly RTH volume profile through Thursday. POC ins the thick red line at 1339. Compared with the relative volume on the lower pane saying this is a low volume environment, prices are simply digesting the big move up from Tuesday. More sideways action today or do prices break above/below this congestion?


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es30min05202011
sorry, neoikon, I didn't see your question.

One of the biggest things for me

Look at 5/18 and 5/19, imagine a line drawn with a broad brush across the highs near the end of RTH on the 18th and also the AH Highs going into 5/19 RTH, generally 40 handle.

By yesterday's close, Price managed to get above that 40 level, have to assume that what once was resistance is now support

What happened overnight?
AH H couldn't even get above yesterday's RTH H (swing failure)

Uh-Oh, doubts about buying demand bubble to the surface...

Better order up a dose of confrirmation...

market needs confirmation that there is still buying interest in the general 40 area, so price retraced (from 5:30 to 6:30am this morning) to check out the strength of buyers at 40.

WHOOPS
Breaker bar suggested net sellers at 40 (stopLoss sell stops).

Uh-OH,
better find out how strong those sellers at 40 are.
price rebounds to test the open of that breaker bar,

double UH-OH, couldn't even print a tick above that open

sellers want more

sometimes, just looking at the chart is all you have to do.

that url that MM posted obviously now seems to be a major factor, too.

uh-huh
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2011 05 201049
I'm going to go put on a diaper, because if the two left up there in the 40's fill today.... I'm going to need it!




Originally posted by BruceM

nice run of those triples from yesterday....without me...

remarkable retracement of the morning move
Originally posted by neoikon
It also mentions the close isn't necessarily down, so it could mean for a nice long...


So far so good...
bulls stepping in
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2011 05 201443
I have no evidence of the reliability of Triples in the Overnight session being run out so use them as targets at your own risk.....
Originally posted by TradeQueen

I'm going to go put on a diaper, because if the two left up there in the 40's fill today.... I'm going to need it!




Originally posted by BruceM

nice run of those triples from yesterday....without me...


Trade on both sides of the IB...the midpoint becomes important...neutral day.......!!! that is 34.50 !!!
last week close likely also important 4:15 = 34.25, 4 pm 35.25, longer term still making lower highs, lower lows
It's all good...I just wanted to make sure that nobody trades for O/N triples or anything mentioned on these threads without doing their own research first.....

Most know not to do this I hope...

u have a great weekend too..
Originally posted by TradeQueen

Absolutely. Thank you. And I sincerely hope my comments are NOT taken as sarcasm. I was simply amazed by the market movement today and thought I could add a touch of humor to what I considered a WOW moment.

Actually hoped it did fill for that virtual group high five moment!

If I don't say anything else, I'd like to take this moment to wish everyone a great weekend! g'night!

Originally posted by BruceM

I have no evidence of the reliability of Triples in the Overnight session being run out so use them as targets at your own risk.....
Originally posted by TradeQueen

I'm going to go put on a diaper, because if the two left up there in the 40's fill today.... I'm going to need it!




Originally posted by BruceM

nice run of those triples from yesterday....without me...