ES Monday 7-29-13

The magnet price for me today is 1684.50....we have two layers of support close by..those are 1682.25 and more important will be the 1679 - 1680.25

I am starting longs here in the overnight for that 84.50 magnet since it is after 9 a.m. Strength on a Friday is usually followed by strength on a monday especially if we stay above the 1680 support price...

we currently have the overnight midpoint as some confluence with our magnet...86.50 is another possible inflection point but that is a better magnet due to firdays close

if you are looking for something lower than my radar shows 76.75..hoping to get it over with early today...report at 10 !!

above Fridays highs I have 90.25 as a possible resistance point...assuming we can clear all that time/price at 86.50

covered last at 85.75 ahead of that 86.25 magnet....good luck if ya stay and play...best to wait until after the 10 a.m report now

no overnight extreme has been broken ......YET !!!!

was that quick enough for you? nice trade bruce

oh yeah...luv those...now the trick is to not give much back if we take other trades and they fail

i'm trying a small long off the Ib breakdown because it came into our key support......in the back of my mind I know that they like to have at least two different tpo's outside an Ib low or high...

hence the reason to keep it small..

if they create single prints off the Ib low and continue down then I will hunt for longs after 11 a.m too to try and get the retest of the IB low

i covered on the test of the 82.25....interesting how the levels are all 2.5 points away from each other...and there is the second IB low test as I type but I wasn't short for that


I am not convinced that the long side is over yet today...either way the 82.25 is a magnet price and the number to watch...


more aggressive player will still be using the 79 - 80 for longs and it could still be a good long trade

85 % of the time we don't have inside days to the previous day...this 79 - 80 holds the key for u to fiqure out if it will be the low of friday or high of friday that has the chance to get broken...

I'm picking one last time on the long side from our 76.75...my final downisde number for today....trying to get to 79.25 as a target

BruceM, what did you have at 76.75 that made it a key level?

Thank you in advance

APK

official single prints right through our 79 - 80 zone....good odds they will come up to try and retest that area from below...once they run out everyones stops by 2.5 - 4 points...goes well with our 76.75 number

It's amazing the games they play isn't Bruce?

interesting day..still no trade outside the RTH high or low from friday....for me I want to see 81.50 - 82.50 become SUPPORT now to propel us above Fridays highs