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ES Tuesday 3-4-14


here's how I have it...the upper lines haven't changed much since yesterday and we can add 2.5, 5 and then 10 points to last weeks highs to come up with some possible points to trade off of...If they can push to 69 then that would be a good possible fade point above last weeks highs....mark off 1/2 gap fill ..so take todays open and yesterdays close and know where 50 % of that falls...just in case

support points if we open above them will be 58 - 60 and then 53- 55.50......we need to watch 63.50 - 64.25 closely for clues too
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targets for me will be 67.50
I was also short at 69.25 already exited at B/E why I don't know..get em Bruce.
ticks have been making lower highs ever since we started trading over last weeks highs this morning...hoping that can resolve to the downside
Short from 68.75 see if that downside move happens
out B/E for what its worth, based on time
a picture of what I'm looking at up here...notice in lower pane that ticks have been making lower lows ever since we broke last weeks highs at 66.50......notice also that the Cummulative delta ( center pane) has been making new highs...( just todays session).what I am hoping is that these buyers are late and it is taking a lot of late buyers to sustain this rally up....Ticks hitting above 600 would be no good for this idea now......and will prove me wrong

this is put together fast and not the chart I trade from but it's the idea...lets see if it plays out or they smoke me


Click image for original size
ticks
aggressive buyers at the highs but no price highs yet...fascinating....69 - 71.50 is still my key zone..that is 2.5 - 5 points above last weeks highs...this is still a tuff move up so far
very low volatility up here hard to determine who is gonna get stuck
Short from 69.25 again see what happens, 4 tic stop
ticks just made new lows on the day...that will do one of two things...inspire more sellers and we will get our 67.75 target or will inspire buyers and push out all those double tops at current highs into that 71.50 number....hard to read up here
that's it for now...this is VA low low and last weeks high......some cool context from internals today