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ES Thursday 8-29-13


here are my numbers and how they are derived...hoping to formulate the trading plan after 9 a.m.
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so far it seems that 32.75 is going to be the magnet price for us early on...that ledge seems too obvious and that is real close to the Overnight midpoint as I type..also that ledge is the VA low from yesterday
43.75 - 45 would have to be a stop point or else you can try the fade from there to get back to 42.....remember we have broken away from and overnight high and a day session high in the same area..so keep the context in mind....the open and drive today also !!

I will try 3 small tries up here but not trading big
anyone who sold the 43.75 needs to get back under 41.75 or take something off there...that was our line and they pushed 2 points above it...hopefully to run out stops
I think this 43.75 will be the better trade...took a .75 point loser...trying to get back to 41.75......usually they like to retest the lines once broken through
i don't think they are officially done with this 41.75 so I won't be surprised to see them come back again for that and lower....46.25 is next spot up top but It just doesn't seem like they will make two sets of single prints...


one off the 60 minute range and then another off the 90 minute highs?

this rally seems prone to failure to me .......or at least for the time being


so we can try again up here to pick tiny profits out
still no test of a previous 30 minute bracket low for those of us trying small shorts up in here
again coming out at 41.75 print....it was almost as if the trading gods heard me about that retest of a bracket low....OK, pardon the bragging...LOL...trying to hold one for that IB high test


I'm not sure if we should expect another miracle !!

any ideas??
putiing final atarget at 40.25.....I don't want to be tortured too much and we know we had a lot going on around that 39 area on the charts..


damn that 41.75 is stubborn...

c'mon Paul...stop buying it up !!!
Noticed less volume on the retest of that 44.50 area and negative delta as well.

After a 16 point run straight up you would think a small correction is in order.

Looks like your getting your break below 42 Bruce, nice hold.

certainly not much of a breakdown so far from that 41.75...this needs to get a move on or we should just exit and foreget it for now
I had that 41-42 area as an LVM on the 30 minute chart, but it sure looks like they want to test 40 maybe 39
I have 35ish, if it goes there. I'd still rather see a long move to 45.00. But I won't be here to trade it. See ya.