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ES Thursday 9-22-11


It's always after the Fed. where the good trades unfold. The 1169 extreme support and objective posted this morning got blown away and the ES close 14 points lower at 1155.75.

Tomorrow I will be looking at the following numbers for trading set-ups.

For the outside: I will look for the market to move above 1156.25 and use it as a "platform" or support for my next objective at 1169.50. Overcoming 1169.50, then, that will be my next support to work from for 1179.00 objective. Overcoming 1179 will set the stage for 1186 objective.

For the down side: I will look for the market to move below 1151.75. Then use 1151.75 as a ceiling for my next down side objective at 1143. Below 1143 will be 1132 as next objective. If the ES moves down to 1132, It's possible that will extend to as low as 1123 looking for support. -- 1123.50 is also Sep. 12 low.

In a nutshell here are the numbers for tomorrows session. The bold numbers are important S/Rs. the others are minor s/r. If you find congruency between the numbers posted below and the ones you got, and the market is trending in that direction, then it's most likely the market will hit it.

For Sep. 22.. Thursday

Buy above 1156.25
with 1160.50 / 1165 / 1169 / 1179 / 1186
Extreme 1194
as outside resistance and objectives.

Sell below 1151.75
with 1147 1143 / 1139 / 1132 /
Extreme 1123 / 1113
as downside support and objectives.

As always, the market has the last word and in due time will show us the way.
I see for you the same I see for my self: having the very best of luck and a fun, profitable trading day!
I had some breakfast @ my desk.. I'm in CA
Russell finally broke down, I may be pushing my luck buying 1111, should prob quit while I'm ahead..
Russell has support@634, which may correspond with 1111 on the way down.. I may give it a try..
order in@1111.50
filled..2 pt stop on 3
Took 1 pt on 1, stp@10.50
got 13.50 on 2'nd stp@BE and ride till it hits
second though, I'll also take 16 if it comes..
always tempted to exit but the discipline is to hold
Got 16........
Thank you from me too Bruce!