ES 7-7-11

Sold into the 48.75...this is second post report air....with a key rat at 1350....looking for nothing but sells ...as usual...key low volume area is at 1344 so that will be the critical point to watch and also 46 as that is high volume point from O/N session

here is how my crude channel looked...I'm always looking to sell above High volume...like the 46 area today...the volume buldge is dwarfed due to day session data included on this chart

a big key number above like 1350 gives us something to lean on.....the channel is a nice visual to help out

Here is the O/N Volume Profile and you can see the 46 that Bruce is talking about. 39.75 is another zone that built before the news boinga bango up...

The 6-1 high of 42.25 is now technically support and the June selloff is officially kaput.

One other thing. There is a single print in the O/N TPO count at 1343.75, I'll be very curious to see if this is filled in during RTH.

Bruce - I see the air at 43-44. DO you feel it is long from there or will it revisit the 1338 "fairly quickly"?

I'm trying to trade for that air but I'm not convinced of the the 38 -39 area yet.....

Volume

Update

frustrating market

NQ remains ABOVE it's overnight H
granted, it is not moving much, but I shy away from shorting ES when NQ remains in a (more or less) positive position

Here's a piece of information I used to think was really immportant, but I don't really care about it anymore.

It is the avereage move from the open to the H for the NQ over the past 5 days.

the 5 day average move for the NQ from the RTH open to the HOD equates to 2412.25 for today.

wake me if we get there.

Big volumes entered with no price move... Canoe is filling...

sure Big volume... everyone left for lunch

adios

positive skew to $ticks and ad line still at 4.5 to 1....highest one minute volume pierced 46 ...so that number is the obvious magnet still..

I'd feel better if they could get rid of those triples on the highs....I don't trade for those but the fact that they are there gives yet another clue to the dismal volume..as if we need more clues..!!

That ES just don't want to die ...