ES Tuesday 9-27-11

We are hitting up against our key 76.75 area as I type in the Overnight so I am looking for shorts up here. Preferably we will get the blow thorugh of that number and come back down for the retest. I will wait to see what the footprint shows.This was a low volume breakout point from 9-21. All other areas defined at the end of yesterdays thread had 4 - 5 point reactions in the overnight so those worked well if you were awake to trade them.

Volume is building in the overnight at the 71.50 - 72.50 zone so that still needs to be on our radar today as does the 66.50 - 67.75 numbers.

Above the 76.75 I only will be working from the low volume near 87 - 88. I will avoid trading near the peak volume price from 9-21.

My hunt for shorts has begun up here now at 79...I think they will come back for 76.75...! Good luck today

hows the foot print doing anything???

Originally posted by prestwickdrive

Originally posted by ayn

prestwick, any swing you are looking at ? i find it tough when it has trended like this since there is no significant bottom/top to start projecting from...thanks

I am having a tough time with it today becasue it has been a trend dominant Globex. I am keeping an eye on 8158-8168.25 giving a full projection of 1184.75. I primarily trade crude oil so I haven't worked on the ES hard.

Sorry. My crude focus showed. i meant 1158-1168.25 giving us 1184.75. From the 1181.75 cycle high we had an initial move to 1177.75 which gave an initial projection of 1175.75. In a trend market you seldom get a retrace past the the initial projection until the trend changes (no absolutes - just probabilities). We hit 1176.0 and took off higher from there.

Volume

report at 10

they are tryingto shake out the POC players from 9-21....I want to see a push up after report.....to sell into and then use the 83 .75 as a target...

1182 the 261.8 extension from this low and the 38% retrace of higher level range
pop and HOLD targets 1198-1201
not can target new low(-1077)
72,63,44 below levels to note if so

For Della, to comapare volume charts

it works cool thank you Lisa Im getting there

Originally posted by Lisa P

For Della, to comapare volume charts

Click image for original size

wonky today

Volume

Originally posted by Lisa P

POC of 9/21 is "taken"

Click image for original size

charts of 09-21 and 09-27. History got repeated.

http://www.screencast.com/t/aizvxKhhbaR
http://www.screencast.com/t/2AilyB28