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ES Tuesday 6-24-14


Expecting us to trade back to 52.75 today and maybe higher...hoping to open under there....other key points for support will be 49.50 and 47....not looking to be a big seller today...reports at 10 too....

here is a video
No video below? Try this link: tuesday.swf






a quick vid about 30 minute vpoc and potential data issues
No video below? Try this link: thirty_minute_data.swf






starting small longs at 50.25 but my preferred area is for us to get under 47.75....52.25 is my target even though the magnet is that 52.75 as the close is there too...I'm hoping lots will see that as a target today and push towards it
I think the only way to have held for that double top was if you had runners and realized u are just gambling if you trade in front of reports...otherwise it's best to take your money out quickly and then wait for some time to go by after reports ...like 10 or 15 minutes
the only entry i saw to aim for that 55.5 double top was that micro pullback to 52, minutes after the news...nyse tick made a new hod and then pulled back to zero...

i chose not to take it fwiw...but that was the only long entry i saw during rth....nq ripping to new multi year highs helping the case for es going higher here

above this 53-55.5 area i have 58.25-59.75, that overnight spike with its corresponding selling tail edge...r2 at 58.25 also...if taking that short 53.5-55.5 has to be first target and may be the only target
in terms of context we have and open and drive and we have single prints that formed on the push beyond the first 30 minute bar....I'd have to see us up above at 57.50 before even thinking about a short...r2 is is 58.25..... and even if I try it would be very light as we would be fighting bullish price action..good luck..I'm probably not doing much worth mentioning from here...
right on apk.....thanks ..there are some aggressive traders who would have bought the OR high since we did open out of value by a few ticks......just pointing that out....most classic mp traders would have wanted to see us get below the OR low and then try to buy but that trade idea is getting diluted with time
Originally posted by apk781

the only entry i saw to aim for that 55.5 double top was that micro pullback to 52, minutes after the news...nyse tick made a new hod and then pulled back to zero...

i chose not to take it fwiw...but that was the only long entry i saw during rth....nq ripping to new multi year highs helping the case for es going higher here

above this 53-55.5 area i have 58.25-59.75, that overnight spike with its corresponding selling tail edge...r2 at 58.25 also...if taking that short 53.5-55.5 has to be first target and may be the only target
to confirm apk's area we have a 30 minute vpoc at 55.25...so all the volume came in near the breakout of YD highs..any push outside of the IB highs TRIES to create two sets of single prints in a row...so my tiny shorts will be tried outside of IB highs knowing we have an overnight high up at 1959.75 from last week
starting small shorts at 59.25...with a plan to add above 59.75 ...keeping this all small.....they are trying to form back to back single prints...and 58.25 is R2...this is almost worse than scalping up here..single is target
this is not a great looking top and I got filled at 59 even...I expect another test up...and certainly not much room to take money off the table
just added at 60 print so I am revising target to 58.50.....I know if the bulls really step up then 63 - 64 is part of their plan..one time framing and the only good thing ( maybe) is that the 30 minute bars are getting smaller up here
Yeah, still hang out here but because of the time difference I signed off early and hit the hay ..thanks for the commentary tho guys ,it is still much appreciated.....btw Bruce, somewhere in here is more of yr good oil on trading the O/N how do I go about tracking it down please? Brent.T