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ES Friday 8-29-14


somewhat of a confused picture but watch those developing VPOcs from the O/N closely so the 2001.50 and the 98.50.......it seems more likely that they will want to drive back towards the 97-98 area today and get a gap fill on the way so I would be more cautious on longs in general today.....I'd prefer to try sells at 2000.50 - 2001.50 and then also try the 2003 - 2004 if they happen to run it up first today.... the areas are all real close
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i think this merge says a lot...the last two profiles show Mon - Wednesday and then Thursdays trade....look at all the volume and time in the 97 - 98 area...that should in theory be the magnet unless we get continued consolidation above the 2000 area...then bulls may win this one
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daysession
everyone was long as all of On was above YD close....best to wait for some downside before trying the buys ....seems like we will not get out short idea to fire off early today..I'm going to pick at small buys at 98 but will trade harder at 96.......
canceling trade at 98.50...reports coming.....may have to sit all this out today...hope we get some opportunity
starting small longs at 94.50......I have 94.50 as a key spot...will try for 96.50....no O/N midpoint and I like how we showed strength above 94.50 YD
due to the open drive down and back in Value of YD i am trying to take something off early in case I am wrong....so my loser won't be as much if I can't get the 96.50 target...so trying to see what happens at YD VPOC/POC.....we don't want to bounce back down after hitting that point
taking something at 96...concern is that we may have trouble at YD VA highs and we are approaching all that combined volume and time from below.....so we may have a lot of chop if buyers want to get through that..
for this thing to really start to tank we would have to build up some time under 93.50 - 94.50
here is developing weekly MP time chart now..."G" period is the first period of today and we are in "H" period now
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mpweekly
trying one last small long trade at 92.50....I don't want to see hourly close under 91.75... ..94.25 is target
nice trade
coming out heavy at the single print breakdown point...94.25......this is where the second 30 minute bar broke away from the first to the downside...critical spot here and if we can gather some time here then we have a chance to go get 95.75 and maybe even higher...wishful thinking perhaps...
u too bkay..enjoy the break...i'm done too