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ES Friday 2-3-12


32.50 - 35 is my sell zone post report..beyond that I would only look above the 40 area for fades.
this 5 minute doji may be too obvious...will sell above there if broken
this is 6th bar up ..nearing the plus 4 - 5.5 and 40 - 42 is key zone...so selling
Would be looking very close to 45.50 it could pop to that area and see sellers forcing it as the resistance zone, since that is the 4.23% of the initial O/N movement.
10pts from pivot low 33.5 is 43 next tgt up for a sell i think
if 33 comes first i would buyit.
love getting aggressive above obvious doji bars...mentally we get all those traders who got short at the doji close thinking that they caught the high because of the doji...so when they run the highs those traders cover for a loss...but it usually doesn't bring in any real buying initially on the first break...

but sill us shorts aren't out of the woods yet...I'm trying to get to 36.50 for finals...as low volume is there...and that is retest of the O/N high.....not concerned about GAMBLE trade as we keep that in perspective and usually cover that fast when wrong so we can think clear for core trades which we are in now

That double top isn't a big confidence booster for us shorts especillay since it is the hour high but in this diminished volatility we are seeing more of those hold...
runners stopped and trying new campaign from the plus 4...but my plan is to sell near 42 if it comes...that is a better area for me
we are going up without volume, the advancing issues of the last 3 days still lagging the 5 and 10 days. in my opinion when the price goes down it will go fast unless long time frame buyers will step in,
Bruce any comment?
38.50 is the price to beat for us shorts..trying to target 37.25...selling any new highs will use 38.75 as a target...
don't give up, bears
small sample size, but history is history...

friend informed me of a study, better than expected NFP (+100K better than expected) with 1% gap up at open, average of 3 occurrences is close for the day BELOW the Open by average 0.58%, if this slim history repeats, potential for an "average" close for today would equate to ES 1328 for today.

your videos are great, Bruce. much better to "see" it
Lisa...we can never have too many posts here...so please post often
Originally posted by Lisa P

have a good weekend everyone. do not eat too much junk food.

sorry for many small posts