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ES 5-28-13


Using 1671.50 and 1673 for sell areas....market gapped up and found support at last weeks VPOC...so fades are riskier...next volume node above sits at 76- 77.50..

shorts will try to ultimately target that vpoc and todays vwap at 65.50 but we have a lvn at 69 to possibly find support first
if they can give up this 1665 then we have a chance to get to the other side at 1660 and lower !!

weekly pivot hasn't traded yet this week ...way down at 1656...wishful thinking perhaps but a good weekly probability as long as we stay inside last weeks range
the vpoc from the On is 62.50 and that goes well with the single print that failed on 5-22...

so a possible stumbling block if they can break down the 65....
a ghost town here.....a quick video of why I was short and why I have concerns below..
No video below? Try this link: Tuesday_5-28.swf






We are always lurking Bruce, nice recap.

I see an LVN at 1660.25 which looks like it wants to test, then 1656.25 on the other side.
it sure seems like last weeks VPOC has now turned into resistance...I can't see a reason why 1660 isn't the plan for this market...

nothing working now ...except an Earl Grey !!

Oh how I like predefined levels much better than developing ones.. !!
I have the same numbers...cool...I have no place to get short now though but in hindsight it would have been that retest of VPOC from underneath....
Originally posted by sharks57

We are always lurking Bruce, nice recap.

I see an LVN at 1660.25 which looks like it wants to test, then 1656.25 on the other side.
interesting how the O/N POC of time falls right at the weekly pivot..
the current low is showing no buying impulse and is a double low..certainly not a great way to show any real buyers yet


with us consolidating and accepting price under that weekly VPOC we can only assume that the current low will get broken
Prices struggling between these Hi Volume nodes with 1664.25 at the top end, wait an see if it breaks down or not
Click image for original size
es 06 13 15 min 5282013
the very first single from the overnight that started this entire rally ( the smart buyers) was at 53.25 to the tic
50 - 51.50 and 45.50 are the only lines I have left on this current downside that are close by... the 56 will have to hold back price...otherwise it's back into 1660 !