ES 1/8/13

Happy new year!! Fiscal cliff behind, debt ceiling ahead. Sitting and waiting in a range between 1450 and 1460. Which way will we go? Looking for a break out of range to get something flowing.

O/N volume at 1453. No surprise.

Babble is much Better than when I mumble to myself.

There's that 50.25 hit. Let's see.....

I have matching lows and this is a low volume push up.....so I am not comfortable expecting the current RTH low to hold...just too many stops below there...been wrong on this before but will wait on any long attempt still

i thought is was cool how we had an air pocket at your 50.25 Bkay and now it is trying to be resistance

BKay,
that 50.25 you mentioned, are you talking about an LVN in the currently developing RTH?

Yes, that was my play, I'm now at a stop just above that. My main concern were the singles up to my previous at 51.25.

Gonna see if I can get 47.25, Might run out of steam here.

Thanks.

watching 1445.50, virgin VPOC from the day of the huge gap up. If this thing acts like support, gap is being defended

I'd like to see some volume dry up now so we can at least trade back to that 49 volume bkay mentioned..so staliking longs below 47.50 to at least try for a 1.5 point target....this would also be a failed breakout of the IB low if we can get some buyers to join us

Originally posted by bkay59

Gonna see if I can get 47.25, Might run out of steam here.

The dreaded tick

I have also been working on my patience. And this was a test of it. Once 47.25 hit it took quite a while to print 47.00 and get a fill. My goal was to see it through. Trust me when I tell you the urge to bail back up at 48.50 or so was pretty strong.