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ES 5-24-13


Just wanted to get something started for after hours trading and coming into Friday with all the crazy stuff in the past two days. Writing this as of 11:28pm Central Time.

Market has sold off and is currently trading near 1647.

Have a price support line as well as LVN and the daily mid-pivot all in a 46-47 zone.

Next potential support would potentially be in 43 zone.

Just sharing what I'm seeing so far.
the ever evolving world of the markets...here's what I have today..
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If Wednesday's reversal makes you bearish like it does me, what you would want to see is a Friday that closes weak. This would would validate the mid-week reversal and give us a weekly reversal. We have not seen a weak Friday for some time, so this would provide some comfort for the bears next week. Trade today will probably be thin as many have started their long weekend. This should allow those in control to push the market one way or the other. Watch the breath from the open to about 9:15 CT and see if it continues to deteriorate and if so it might be an indication that we make a low below yesterday's low.
that 40 number is the one the bulls need to beat ..so far the volume is building lower today so it doesn't pay to be long unless we see price firming up above that 1640!

so if it firms up then we can expect the retest of the next zone above up near 1645..

it's really that simple to think about it....harder to make money at it some days

if it can hold back price they should push for the 32 retest


slow day ....glad it's friday
seems like the bulls are trying to take over...the VPOC today is at 1639..rth only..so folks did battle there... it seems the bulls are trying to take over

a more aggressive trader will buy the breakout of the IB high but that throws us right into yesterdays classic VA lows...but if 40 holds then it may just work

I was taught that you try to buy in the stem of a "P" formation off a daily chart....the sharp players bought into that small tail of yesterday I guess
a double top at the ib high is not a good way to get HIGH...I wish I could find something in this 40 area...not my specialty ..trading smack dab inside the IB at developing high volume...but it is a key number!!

c'mon...show me the light...I need to get ( that ) HIGH !!
you ever notice that your best trades often come when you are either most fearful or you don't have much working ?

either way it would be hard to hold longs on a break of an IB high right into a VA low

I'm trying to cover last at 44.25 but that will require a trend and 4 points off that swing low is 43 too...not hopeful here on meager runners
anyone here use comcast ? Gheesh..they have been having major email and server problems

frozen !!
The best trade is made when you have the greatest chance of being wrong!