ES Day Trading 5-24-2011

PP to S1 52.8% 1312.75 (2T from O/N Low)
PP to R1 52.8% 1321.25 (O/N High)

I'm a big fat liar. One more.

and the world waits to see if they can close this pig above last weeks RTH lows.....so the 1315 - 1316 has lots of players watching that. Now we know why the POC from yesterday was at 1315.50.....just in case some where wondering.

I'm gonna cheer for the bulls here

Originally posted by BruceM
I'm gonna cheer for the bulls here

Not saying this is going to happen, but perhaps the bears may be watching this:

trips taken out at 17.50 which then brought on a volume spike into 18. Curious to see if this thing has more steam to push up into end of day or not.

johnpr2010,

I have one observation

this jumped off the chart at me immediately.

you have the red arrow signalling a bounce

did you notice that the red arrow on the left side of the chart is pointing at a price that undercut the previous swing low at the lower channel?

the current swing low has not undercut the previous swing low yet (well, it did overnight)

You are right it should be showing like this.

You are right it should show like this.