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ES Wednesday 2-8-12


Here is a look at yesterdays trade with the vwap bands and Video. I decided that in many ways video is becoming faster than typing for me...The current Overnight high of 48.25 now has come in right at a vwap band so that confirms that band.

other areas....

Overnight VPOC at 47.....so 47 - 48.25 becomes key resistance

Time is being spent in the 45 area ...so that is attracting price but I will not use that to initiate from unless some pitbull number matches up...would prefer to use that as a target..then we have the evil 42.50 from yesterday which matches the Overnight low and then we have low volume beginning at 1340 which goes well with closing vwap....

below there I will not buy unless we get below 1336

some charts for reference:

Closing Vwap
Click image for original size
devvwap


Overnight against yesterdays day session

Click image for original size
overnight



Video explanation:
No video below? Try this link: wednesday.swf






Order filled @ 46.75
I would take this out @1345.75
ideal add point will be above O/N highs but not sure they will push it out...still targeting 45 !!
triples at 46 has me adding small at 47.25..still would like to see Overnight high run out for better short
i am with you bruce from 47.25..i have peak volume from o/n at 45.75 so will try to flatten there...

wil re sell above o/n higs all the way to 50
4 lows all at 46...so a nice ledge there....couldn't take longs if I wanted to with that down there..
getting out here at b/e...wil try again from 48-50

Originally posted by NickP

i am with you bruce from 47.25..i have peak volume from o/n at 45.75 so will try to flatten there...

wil re sell above o/n higs all the way to 50
a/d very strong, almost at the trend level (generally anything above 1300) but ticks have not broken above +500 consistently...so mixed signals thus far from those indicators
hope it works out for ya bruce...i bailed on it...i hoped for it to be a quick trade given what i was aiming to gain on it

Originally posted by BruceM

4 lows all at 46...so a nice ledge there....couldn't take longs if I wanted to with that down there..
here is some babble for those who are bored watching paint dry today
No video below? Try this link: today_babble.swf






Ill try to show later , probably tomorrow why i think timewise the ideal time for a price peak would likely be next week between the 14th and 16th. Im expecting bullish behavior untill then ,so caution is advised on all short sales