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# ES Tuesday 11-15-2011

Yesterday had the lowest daily volume of the year and overall it was essentially a neutral day with a downward bias.

It will be very important to observe where we open at 9:30. Right now prices are at yesterday's RTH low. If we open above it, this will be first support, if we open below it this will be first resistance.

Yesterday's O/N action had trade above Friday's high but RTH never traded near those numbers. Now we have O/N trading below yesterday's low, will be interesting if we get a repeat but in the opposite direction. Just a thought/observation, not a strategy on my part.

It will be very important to observe where we open at 9:30. Right now prices are at yesterday's RTH low. If we open above it, this will be first support, if we open below it this will be first resistance.

Yesterday's O/N action had trade above Friday's high but RTH never traded near those numbers. Now we have O/N trading below yesterday's low, will be interesting if we get a repeat but in the opposite direction. Just a thought/observation, not a strategy on my part.

I referenced your post in the fib thread and noted lack of liquidity can affect movements(higher). I also had an O/N low that matches yours but they are saying the O/N low was 34 fwiw.???

1234, yes that is what I have for the O/N low.

Originally posted by DavidS

I referenced your post in the fib thread and noted lack of liquidity can affect movements(higher). I also had an O/N low that matches yours but they are saying the O/N low was 34 fwiw.???

Lisa is correct. One of these 60min edges needs to be challenged or else its just going to be chop within this value range. Until that happens I suggest any trade have tight risk control and smaller targets.

I have 11/11 close as 1259.50 - not too far

my other chart shows that close at 1261.75. Someone, please confirm

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