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ES Friday 10-31-14


I'm hoping to be back in full sing on Monday//// Today I think 2004 - 2005 is the magnet price with 2009.50 - 2011.50 the key zone to watch for clues on short side.....This will also be critical if you have a longer term bullish bias and expect month end to hold prices up and achieve day session all time highs.......The current overnight has once again made the all time highs and we know those like to get retested eventually......according to Dalton, better all time highs are usually made in the day session .This doesn't tell us " WHEN" that will happen. The big drop down in mid October happened while we still had an Overnight all time high...so you can lose a lot of money while you are waiting for an overnight high to get " cleaned up " in the day session. If we can get under that 2004 then we should try and get to a LVN area at 2000


we have a single print selling tail in the overnight at 2014 which goes well with the previous all time Overnight high........so this may be another good area to use and then target the 2011.50 edge.....above the current O/N high I would watch the 2 SD probability band if they can push that far at 2019.25 ( Thank you Paul)..

Good luck and I hope all have been well.

here is current O/N..or part of it...note the swing lows in the 03.75 - 05.50 area....that is an old vpov/ POC from a day session...the lines on the left side of my screen show me that although you can't see the full chart.......this is another critical area that bulls will want to try and hold in order to maintain the rally...the Volume VA low from the O/N is down there too....
Click image for original size
overnight
i started my sells at 2013.75 in overnight...will go for 11.50....
Well, Bruce, Long time no see... actually, I've never seen you...

I wanted to point something out about the Dalton statement concerning overnight Highs not usually a high that counts...

He has qualified that statement, an overnight High can be in place for some protracted downside if there is an unfilled gap down (I'm pretty sure he said "the next day")... that is a pattern that can lead to additional downside...
By the "next day" he was not (I assumed) he was not talking about the RTH session following the overnight High print, he was talking about the next RTH AFTER that .

BTW, the day after the All time 2014.50 was printed ... I am talking about 9/22, NOT the RTH session following that 2014.50 overnight High, Well 9/22 had an unfilled gap down.
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I'm trying for a final target at On VA low which shifted up to 06.75.....that would put me out in front of the other key zone too......not expecting them to make it easy on small runners
that's it for me....been gone for two weeks or more and I need to get caught up on reality at home...
that is a nice additional qualifier to the concept Paul.......THANKS
Originally posted by PAUL9

Well, Bruce, Long time no see... actually, I've never seen you...

I wanted to point something out about the Dalton statement concerning overnight Highs not usually a high that counts...

He has qualified that statement, an overnight High can be in place for some protracted downside if there is an unfilled gap down (I'm pretty sure he said "the next day")... that is a pattern that can lead to additional downside...
By the "next day" he was not (I assumed) he was not talking about the RTH session following the overnight High print, he was talking about the next RTH AFTER that .

BTW, the day after the All time 2014.50 was printed ... I am talking about 9/22, NOT the RTH session following that 2014.50 overnight High, Well 9/22 had an unfilled gap down.
.

i have no hard core statistics on this but it seems that each day they hit either a half Standard deviation band or a full one ...if not both...today we opened above BOTH of those bands and the one SD band falls at 04.25 so it will be interesting to see if they can print that still