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ES Monday 2-3-14


two quick pics of the zones I think are most important...it's too early to confirm prices or come up with a plan but we must be mindful of that 80 area...that is also where a lot of time was spent last week...a week in which showed signs of balancing....now the key question is are we balancing to make a new leg higher or are we balancing to show acceptance of lower prices to sell off....? I don't know and too long term for me.....Where we open today in relation to fridays VA will be important and give us some clues to see if we are to remain in balance still


one chart is the time composite and one shows the day sessions with key zone of friday and above and below...essentially the same areas
Click image for original size
comp



Click image for original size
esh4
a pic of how the On is playing out so far to confirm the areas.....seems like the 82 and 77 are most important so far
Click image for original size
compon
I'd like to see us stay balanced this morning so that means I'm hoping we open inside the VA from fridays session ...ideal would see the push out near the 74.25 LVN and VA low that fails to attract sellers and then use 76.50 - 77 as a first target on buys..some may be buying now as I type in O/N.....other tarde idea is to open lower and drive up into 76.50 - 77 as that is VPOC of O/N session and confirms one of our areas...we could try small sells there but that to me is higher risk they may want to drive back to Fridays POC up into the 79 - 80 prices.....

other trade idea for me is to see them push above that 82 area ideally into the LVN near 84 - 85 which is near the O/N highs...then use the 82 as a first target...I'd be less aggressive on just a sell into the 82 number alone even though it is the HVN of the time composite...we do have a nice O/N swing there though to help us


other buy area is the 69 - 70 node marked on my charts and try to get back to 72.50 first...good luck today...hopefully one of these plans will happen early one for us..so far I'm thinking that 77 is the magnet for us this morning
gonna try the longs off the 74.50 now as I think they will get the gap close fill still and will return back to 77 again
Bravo, excellent
not staying in past 79 as this is POC of volume and time from friday.....see second chart in first post....will sit on hands now and probably won't trade again unless they can push up near that 82 but higher would be better ....I want to assume balance for now so only trade at the extremes...anyone selling this 79 - 80 would want to look at that 77 as a first target just to be safe
thanks bkay...the composite gives us the bigger picture but I still think it's best to know what has happened from each day....VA low and lvn was at 74- 74.25 today..so they did what we thought they would so far
You nailed it. Nice job.
buying the 69.25 reason pitbulll-5.5 and rat close at 68.75 3 point stop.. also bruce has it mark..
we basically want to take a LTN or HTN ( Low time node or High time node) from our composite and see if we can find something from the day session to confirm those...a broken record I am ...then check the O/N session to confirm...but this becomes simple...the hard part is pulling the trigger...today was cool because many people got to win off the zones.....the sellers on inital pop into the 76.50- 77area where able to get out at the 74's...us buyers where able to take longs at the 74's and get out heavy at that 77 lvn node which was the VPOC of the O/N and get the POC area from friday....now the POC players sold that and are winning more than anybody so far...it will be interesting to see what happens at 69 on a dip into that..
fill 69.25 exit at 71 stop 69.50
thanks for posting that ETM.....hard to beleive we have 3 sets of singles on the charts...lets see if they can get at least one cleaned up before days end...closing out my calls at single fill or days end...these weeklies have so much decay that holding overnight is not wise