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ES Thursday 12-15-11


Major low volume areas I am working with from 9 a.m on to sell against.

1220.50 - 1222

1226 - 1227

1231- 1232.50



below the market is

1214 - 1215 to find buy signals


big volume spots

1234

1206

volume has built now in O/N up at this 1220 and the 1210 area which is near the VA high from Wednesday!
Got my profile back. No need to post
I think this market wants to trade back up .......POC from today is higher than yesterday and the poc/VA high seems to be causeiing some problems for the shorts side now
This is what I am looking at. We would have to take out today's high, for big traders to attempt a rally.

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2011 12 151328
Looks like we have turned the day trading threads into a ghost town.
most days trade back to some previous days high volume number from RTH. That hasn't happened yet today and the only two possible choices are 1206 or 1235. It sure seems more likely and easier for the push to 1206 by days end..logically I'm thinking that our 1220 number capped the rally and now we can't seem to get beyond the 1214 - 1215. I thought we would have busted that and gone higher by now.

On the flip side of all that is the fact that value is higher on the day and we are making peak volume and the POC is above yesterdays value area high.....once again too much conflict for me to trade from.
Nothing to post but scalps all morning after the retrace from the opening high. The daily pivot, VAH, and POC have been semi predictable with wide stops. The problem with wide stops is euro news and the ability to take really quick 8 point losses. At least for me as of late anyway. I enjoy the commentary.

I am sitting until either a strong break of the 14-15 band in conjunction with a eur/usd breakout or a total failure of the 07.5-0.8 band with dtx dumping as well.

Originally posted by BruceM

logically I'm thinking that our 1220 number capped the rally and now we can't seem to get beyond the 1214 - 1215. I thought we would have busted that and gone higher by now..


Bruce, 1214-1215 is 50 MA on SPX. Yesterday we fell through. Lets see how market handles this level. Today's close above or below would be important to the world.

Of course tomorrow is 4 x witching option expiration - does not help
Also the direction is not clear. YEsterday TPO POC is taken, but volume POC is still intact so the "door down" is not completely open. You are wise to trade cautiously. This is my 2-cent worth.
Green line - TPO POC, black line - volume POC

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2011 12 151424
Good Night guys