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ES Tuesday 10-11-11


The following resistance points are created from trade on 9-20 and 9-21.

1193.75 Low volume

1200 key number

1205 - 1206 Low volume and the best low volume number as we move up..assuming we move up

support points are created from Mondays trade at :

1186 - 1188 low volume

1182.50 peak volume - I will not use this area for entry

1180 - 1181 low volume

1175.75 - 1176.50 low volume

71.50 - breakout point from overnight trade

as usual the low volume is where the better trades are at.

Honorable mention to the 1214 - 1215 area in case we really get a move up
Hey Bruce,

Am I understanding this correctly? The pocket created from the 9:40 and 9:50 candle (Eastern time)? Or am I missing something?

Originally posted by BruceM

flat at 84 even....that bell curve behaved perfectly!! hopefuly some saw how we created low volume ( air pocket)today right thorugh yesterdays low volume.....a trade u just have to take..

Click image for original size
pocket
Hi Bruce , nice work........will you keep shorting 86 - 88 area



Originally posted by BruceM



76.....allbest sells will be up at the 86 - 88 area......BUT the concern is that we have a ledge in the overnight right at the 4 pm close of yesterday at 1190.25.......so we need to be careful on fades too early ....these may be false signals so I plan to trade a bit lighter up there

that is correct Sean....
no I wouldn't and didn't because the first test is usually the best and I was a bit paranoid about that 90.25 I mentioned before.....we also already tested the high volume node and rejected it ...so that is the main reason
Originally posted by pharlap1959

Hi Bruce , nice work........will you keep shorting 86 - 88 area



Originally posted by BruceM



76.....allbest sells will be up at the 86 - 88 area......BUT the concern is that we have a ledge in the overnight right at the 4 pm close of yesterday at 1190.25.......so we need to be careful on fades too early ....these may be false signals so I plan to trade a bit lighter up there


there is still air at 88.75 so I expect that to be tested from the gap fill high
Yay! I'm getting it. Thanks Bruce! You're a stud! And I don't mean the ones in your shed you're building :)
triing to travel out side first hour
Ideal next short will come above yesterdays highs into the 94 ...especially if we still have that air below....they may not give us that
Long 1192.75. Stp 1190.75 1200 objective.

ES now trading 1193.25 @ 10:47 E.T
I show a single print at 1189.00
new video Steidlmayer Volume Strips: A New Method to Analyze the Markets http://www.cmegroup.com/education/steidlmayer-volume-strips-video.html