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ES Thurs 06-23-11


Rare indeed double islands. Islands by themselves are rare and rarely last for long, but right now this, a double island set is something else.

for today, Thurs 6-23-11, if price opens in a gap below 75.75, then the market has created double islands one above and below.

The gap that remains open for both is 75.75 to 77.50 (and I would expect it to be filled sometime today)

price is testing 50% of the prior week's range (1269.75), this is a likely bounce zone, (short-term intraday) but can easily be retested RTH. if there is a lift from the current 50% of last week's range, and then a retracement (would prefer to see retracement undercut whatever L is established now by 1 tick), the pattern I look for is a 1-2-3 buy (AFter some sort of a lift and retracement.)

this might be my only comment of the day
long from 61.5, right above s3 and with resistance both at ym and nq, so worth a shot for a small scalp...unwinding all of it at 63.25 here...will be a bigger buyer down at 59 if they take it there
trying agin from 58.75...
one minute air fills at 60.50......gheesh!!
Fyi...housing in 3 minutes
too fast for my posts to have meaning..will go back later....runners will try for 62.50 high volume
wow, that was fast...long from the 59 level i mentioned before, flat here at 62...59 was the 4.236 fib projection both on my 30 min and 15 min chart, it was a stretch number and it was a pitbull number as well...nq at s3 at the time

Originally posted by apk781

long from 61.5, right above s3 and with resistance both at ym and nq, so worth a shot for a small scalp...unwinding all of it at 63.25 here...will be a bigger buyer down at 59 if they take it there
nice trading bruce and apk !
I was going to mention that.....eventually...LOL....the minus 8 - 10 pitbull zone use to be a big zone in the first 90 minutes when volatility was higher....now we don't get there till later usually...today it happened in the first 30 minutes....anyway that was why I took that once i saw the one minute air pocket......nice trading apk......
Originally posted by apk781

wow, that was fast...long from the 59 level i mentioned before, flat here at 62...59 was the 4.236 fib projection both on my 30 min and 15 min chart, it was a stretch number and it was a pitbull number as well...nq at s3 at the time

Originally posted by apk781

long from 61.5, right above s3 and with resistance both at ym and nq, so worth a shot for a small scalp...unwinding all of it at 63.25 here...will be a bigger buyer down at 59 if they take it there

likewise bruce
Bruce could you repost link to pitbull explanation I can seem to locate it thru search.
wasn't here for the second set of triples but congrats to those who got lucky on that long rocket....a perfect run of both sets of triples today