ES Friday 3-2-12

Using 69 - 71 as the main magnet today. Looking to buy under the O/N lows ....Looking to sell above 74.50 area...all the time thinking about the magnet....

additional sells are above 77 and additional buys near 63-65..

had to rush today with the video ..didn't show weekly chart but it is a big bell curve too...sorry but didn't have time to make it more clear..

THE BEST FADES will come from above and below the weekly SD1 bands...thin red lines on my vwap chart

when we open at a magnet u should wait for the first push away from it to look for fades......ideally an air pocket will form as we push away

The market is not stuck inside an inside day inside an inside day because everyone is waiting to buy and take advantage of higher prices. In the past this type of market "pause" often occurred before a major event. The "Big" money has an indication something is about to happen and they are keeping their powder dry to see if it's going to play out. (This is just my opinion from years of observation)

Time will tell all.

On Fridays the current opening of the weekly bar is very important this week price is 1363.25 it was also the close of the previous weekly bar

In my opinion you don’t want to stay long bellow 1363.25

i will buy 136250..reason are rat #136250,2.618 stretch # is 136258,pitbull # at 136375(i understand it closes at 1100) and as khamore1 point out 136325 is open for the week..

fyi, 2.618 of the stretch is 63.25

i got stretch at 62.58...my math is 137450-11.92..am i wrong?

stretch is 4.3, so yes, u have the math wrong

74.5 - (2.618 * 4.3) = 63.25

Originally posted by duck

i got stretch at 62.58...my math is 137450-11.92..am i wrong?

thank you nick..i see my mistake..