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ES Day Trading 5-31-2011


Getting thing started with a look at last weeks volume profile. Obviously prices are much higher here in the O/N but one of the interesting things to note on this chart is the expanding volume on up moves and decreasing volume on pullbacks. Classic behavior in an up trending market.


Click image for original size
es30min05312011
Thought I'd post this for people to study todays action. I've marked the opening bar with a red arrow. You can see from that open prices moved up and challenged the O/N high (solid green line), reversed off and fell into Friday's RTH high (green dashed line). And then again rallied from there.

What can be learned from this. From a simple divergence standpoint, go look at the NQ 5-min chart. You'll notice prices first broke above their respective O/N highs, then never came close to their Friday RTH highs on the morning selloff. and showed strength from that point on.

Intra-market divergences can give clues to the underlying strength/weakness of the overall markets.


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esvwap05312011
nice visual ...thanks lorn
Originally posted by TradeQueen

I get what you both are saying as well as agree with you, although I feel anything else would just get too chaotic.

There is a calm about this method I really like. sorry.

Originally posted by neoikon

Originally posted by Dubya
...is there a way to have posts automatically pop up on my screen? Not that familiar with the site and have been refreshing to read posts...


Yeah, I am curious of a better way as well...



Not pop-up, be an alert will show up on the page when there are more posts and you can click it to retrieve those new posts. More details here:
http://www.mypivots.com/board/topic/6747/1/forum-flow-layout
haha... As the saying goes... If your having trouble understanding what I'm saying... It's because I've got my FOOT IN MY MOUTH!

I've never seen an alert screen before in a forum, so I guess I'll have to give this a try tomorrow!

Lastly... My kid took over the computer for a school project. I didn't get a chance to thank everyone for their post today. I was in and out all day, but from what I gather... you all nailed it! Much good information here today.

LORN: Yes, thank you for your last post. Hope you get to see this. Great stuff, much appreciated. Good night all. Many more thank you's.

Originally posted by day trading

Originally posted by TradeQueen

I get what you both are saying as well as agree with you, although I feel anything else would just get too chaotic.

There is a calm about this method I really like. sorry.

Originally posted by neoikon

Originally posted by Dubya
...is there a way to have posts automatically pop up on my screen? Not that familiar with the site and have been refreshing to read posts...


Yeah, I am curious of a better way as well...



Not pop-up, be an alert will show up on the page when there are more posts and you can click it to retrieve those new posts. More details here:
http://www.mypivots.com/board/topic/6747/1/forum-flow-layout
This is a good option to have..hopefully it will still remain "calm" TQ......
I deserve that! Foot still in mouth. BTW... the function works Great! Wouldn't of wanted to miss this post... no really!



Originally posted by Dubya

This is a good option to have..hopefully it will still remain "calm" TQ......