ES Day Trading 5-25-2011

Two vprofiles on this chart. Last weeks and the developing one for this week. Tight range so far this week and the bell curve shaped profile signaling a fight between bulls and bears. Interesting to note VPOC is below last weeks range.

abandoning short idea righ now...too close to reports and no room...

open outside of range and rejected back quick so far...waiting for 10 am

INDU just closed its gap, bears came at 1314.25

too bad report so close

hi koolblue, what was the logic behind this short? thanks

Originally posted by koolblue

short from 13.50

i would not worry too much abt the 10am report...it is second tier data at best...

Originally posted by Lisa P

too bad report so close

my plan is to hope for a spike higher up into 17.50 or higher and look for sells....peak volume from YD day session is 1315, secondary peak volume is up near 17.75...so target would be back down to 1315 off any higher sells...

we'll see

Originally posted by NickP

hi koolblue, what was the logic behind this short? thanks

Originally posted by koolblue

short from 13.50

thanks a lot !

Hoping for a move to around 1310.50 but 1312.25 has to give way first...so far by only 2 ticks. Stop is at 1315.50

Covering here at 1311.00

There's divergence in this market. This is a 5 min (daily numbers: 1 SMA, 3 typical SMA, & 8 EMA. The 8's leveling off and the 1 and 3 are trying to drive prices lower. Some heavy chop swings coming down the pike.

Chop I says. 12, 16, 21, 35, 43 I says.