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ES Tues 8-7-12


areas that might be interesting today

above

98-400, 402.75-404.25, 407.5, 409.5

below 95-95.75, 91.25-92.75, 87-88, 83.25-84.5, 78-80.5, 75

good luck
I find that high volume that forms after a trend is usually NOT new buying...today we had buyers at the 1398 and then trended and then the 1402 volume...so I am selling also above there and using it as a first target even if it is small...kinda like scalping for me...


I really want them to test down to the IB breakout/LVN area but will try and pick something out up here

I am assuming so far that the 1402 players are not buyers still
so I am assuming that the 1402 volume is created by sellers exiting their long trades from the 1398 area so far..
the LVN is at 1400.50 so I took all but one off there...final contract is gonna try to get back to 1398.50 before getting stopped out at 1402.50

It's a bit early for a selloff and they may not be done with the 1402 so this is purely random from here ..IMO !

The theory of the high volume prints and the 3 - 4 points is just that...a theory....if the 1402's are gonna get 3 - 4 points then the 1398 - 1399 is a logic place for them to push to...

if we don't get the 3 - 4 point target down and we start pushing above the 1402 then they may push 3 - 4 points up still

$ticks have still yet to print a minus 750 reading so all fades were agressive today and not very effective

so now this LVN is also at the IB high !! careful here
interesting today in that we haven't had the VPOC move to either the 1402 number or to the 1398....you'd be surprised at how often the vpocs form at these volume thrusts and end up being end of day vpocs....

so what will vpoc end up at 1402 or 1398 ? Or maybe something else ?

no clue from here but more volume at TIME is building up lower than at higher levels so my guess will be the 1398 area !
hope it runs here for your runner Bruce...the second area i mentioned in my first post today was tagged nicely and i took a short at 2.75...flattened at 400.5, but have no runners since i was planning to leave early in the afternoon...so good luck to whoever is still trading and see u tomorrow
c ya Nick -I just bailed at 98.50...there was a gap in data at 98.50 but I didn't mention it because of summer trade...so it was real close to that 98 anyway....hope all have a great night...

u can see big volume just came in here again...awesome !!

for anyone holding there is still a gap in yesterdays data at around 92.50.....I don't think it will be long before they clean that up...


overnight doesn't count to me!!
92.75 is that gap...keep it in mind for the future