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ES Monday July 23rd


Key areas are last weeks low at 1339 and then we have volume and the overnight LVN up at 1345...the midpoint is 1347..so that is a crucial zone..


"failure to hold outside an overnight range targets the overnight midpoint" - Dr. Brett


only other area below the overnight low for me is 1328 - 1330....volume down there
I wish everyone good luck today...especially if you are taking longs with me
volume players came in at 1337 exactly so that is the magnet...no surprise to see that as O/N low is there...look for reaction 3 -4 points under that for longs
with a gap in the data at 1335 I'm starting longs at 1333
FYI - summertime gaps can be misleading..just a warning to trade light if that is your only reason for longs
took something at 1335 print and will try to hold for 1337 test....not much working as I thought I'd need to buy at lower prices
with u on those longs...32 was the base of the spike up from 7/13 and also low of the day so some support was expected there i guess

other than that i have the 26-28 area below that, with 30-31 also as a potential stoppping place


Originally posted by BruceM

with a gap in the data at 1335 I'm starting longs at 1333
I always hate when we get obvious reversal bars on the 5 minute time frame..too often they run those out.....my additional initiation plan will be to buy again if we push out those stops at the lows

my 2 runners will either get stopped at 1333 or hit the 1337 target
took it off while writing at the 35-35.25 air fill level...runners will stop below current lows


Originally posted by NickP

with u on those longs...32 was the base of the spike up from 7/13 and also low of the day so some support was expected there i guess

other than that i have the 26-28 area below that, with 30-31 also as a potential stoppping place


Originally posted by BruceM

with a gap in the data at 1335 I'm starting longs at 1333

we still haven't officially hit last weeks lows in the RTH session....that is a high probability retest sometime this week

since we don't know when I think buying calls down here is a good bet but we would need to add to them if we get a bigger selloff today and play for the retest on Tuesday or wednesday


$ticks can only push to a plus 290 so far..that is not good for us faders so far
until we see $ticks hitting above 700 - 800 we need to realize we are on the agressive side of this trade and the smarter money is holding shorts



if we get some signals under the new lows ( if we get new lows)then 1333 need to be our first target to take something off and tighten stops.....peak volume as per vpoc is building there
ideally we'd need to see some nice volume and high $ticks above last weeks RTH lows...till then we just ping pong around