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ES 7-7-14


I usually expect what happens on the last trading day of one week to spill over into the next week...at least the first day of the next week....as I type we are hitting into an LVN between Thursdays lows and Wednesdays highs so that is really the first buy point at 1970 - 1971.50....today we have an S1 at 73.25 and a POc from Thursday at 74.50 so that needs to be watched and used as a magnet....opening under and staying under there is bad for our bullish bias in general today...

a failure on the long this morning will try to drive back to the 67 - 68.50 area which has volume and time but also an S2 area today

here is a rough chart with the levels I am watching...only looking to try one or two longs......I am usually more skeptical when we opne under both an S1 and a POC from the prior day
Click image for original size
crudechart
watch single print buying tail from O/N session as a possible buy point...it is right at our key zone and we may have a nice pitbull long trade down here too
I don't rely on the $ADD heavily, but I do tend to lay off longs if ADD is near -1200 and not strengthening...
Is this an open drive?
Maybe the very prominent POC @ 1967.00 could be a target for today.
Aladdin,
I don't know what Bruce would say, But I like to see at least 16 ticks in one direction to consider it an open drive.

No Drive but the sellers have been able to keep it below value since the opening balance.
the battle at this lower LVn is not lost by the bears until we get a 30 minute close under the O/N low and inside that LVN...till then we may still rallyback to the open and higher
unreal (well, not really)
Overnight low acted as support and now the midpoint of overnight 74.25 has printed.



Bruce, believe me, I know it is difficult to post and trade,
I just wanted to make sure about the meaning of your post...

"the battle at this lower LVn is not lost by the bears until we get a 30 minute close under the O/N low and inside that LVN...till then we may still rallyback to the open and higher "

Am I correct in re-stating it as:
the battle at this lower LVN is not WON by the bears unless there is a 30minute close under the O/N low......

I just want to make sure I understand what you were saying. because right now It's not perfectly clear to me.

Thanks Paul + bkay.
So, no open drive...

Up till now a day range of 4.50
Could the O/N high @ 1977.50 be next?
correct...u stated it much better.....we know the O/N session usually has levels that line up with levels generated from the day session data so with that O/N low right in our zone it became a key spot for them to try the breakout from.....that close back inside the O/N low and above the LVN from the day session data was critical to me to keep trying to press the long side trades especially with the lack of a return to the open ala pitbull and that O/N midpoint that you pointed out
Originally posted by..... PAUL9

Bruce, believe me, I know it is difficult to post and trade,
I just wanted to make sure about the meaning of your post...

"the battle at this lower LVn is not lost by the bears until we get a 30 minute close under the O/N low and inside that LVN...till then we may still rallyback to the open and higher "

Am I correct in re-stating it as:
the battle at this lower LVN is not WON by the bears unless there is a 30minute close under the O/N low......

I just want to make sure I understand what you were saying. because right now It's not perfectly clear to me.


You are correct Stocksster on the "UpDownTick" setting....