ES Thursday 3-22-12

I have the weekly pivot at 1386.75 and they just stole that from us in the Overnight..so I am using that down to 1384.50 as first support ( that begins low volume area again)...above there I have 1393 - 1394 as first upside low volume key..then 97.50 - 98 as that was yesterdays challenge area and lots of time there..prefer to use that as more of a magnet then a trade initiation point.

Further below will be the critical 1379 - 80 as the breakout point from the fed day.

one number that is in question for me is the 1390 from march 15th...lets see if volume can build down there in the O/N to confirm that one

We've hit the swing low from 3/15 and pulled back.

I will take the break of that and shoot for all the low volume down into the 70s.

Good luck to all.

taking small longs at 89.50...target will be 93.50 as this is the breakdown low volume spot

whoops...hit enter too soon...plan is to be agressive on longs down here especially if they can push out that O/N low in RTH..this 1390 is creating the volume now so that becomes another key number..

many will use the Monday and tuesday range as a weekly Initial balance....I think we are still symetric on the weekly time frame so I am assuming we will trade back into balance which is up above 93

good volume in the overnight so I'm expecting some good range in RTH...ON range is critical today I think!

a quick video...

short @ 87 1st tgt 84-85, then 70s.

stop @90 getting threatened.

stopped @ 90

I'm now using 92.50 as final target on any long runners...just not sure they are done with this 1390 yet...as usual the On trade was garbage for me...

thanks for posting the chart Jedi