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ES Thursday 7-19-12


The areas that I'm watching today.

1383

1377-1379

1356-1357

Current price 1374 near the July high

Good luck to all.
I think that they will do the high to low day today .....since it is options expiration week I look for them to pick two key RATS to keep price away from. With the overnigt high near 1375 then that becomes the key upside RAT for me and goes well with the high Big Mike mentioned...


From the overnight volume has come in at 71.25 which is also the Overnight midpoint and a likely retest point today especially...buyers also stepped in at 68 too but to me the biggest support area is where the volume came in yesterday at the 62 - 64 area.
Critical area ..

I wish the key areas where more then 3 - 4 points away from each other but this seems to be the spread this summer...

hope all do well today
bounced off of yest vah
for those of you who follow fib extensions, we are trapped between the initial projections of both the recent high and lows...u can see where the 2.618% ext are so those could serve as short term resistance/support...

boom, tagged that 2.618% extension downward almost perfectly and bounced off of it

Originally posted by NickP

for those of you who follow fib extensions, we are trapped between the initial projections of both the recent high and lows...u can see where the 2.618% ext are so those could serve as short term resistance/support...



forgot to past the updated chart

volume attractor still sits at 72.50 from todays volume!! unfortunately it seems like it's gonna be a battle between 1369, peak volume and the peak volume break down point ( 72.50)....

so don't expect any good trends in here!!
and to make matters worse u have yest highs right in between

Originally posted by BruceM

volume attractor still sits at 72.50 from todays volume!! unfortunately it seems like it's gonna be a battle between 1369, peak volume and the peak volume break down point ( 72.50)....

so don't expect any good trends in here!!
only real interesting thing for me today was the inability to hold that Overnight low...they took two tries to break it down and haven't been able to yet.....


so it seems that the volume folks from the 72.50 who caught the short had targeted that low and since no other selling has entered below there then we reverted back to the volume that started the down move


still think this needs to round out here before any good move can happen so I am expecting trade back down into the 69 area again to round out the bell curve and consolidate some more
great point Nick...we are all confused as there are too many reference points in the same general area.....so consolidation is in order