ES Wednesday 7-8-15

Interesting day yesterday. They rejected those lows quite soundly. I guess I have been away for too long and just did not see that coming. Need to sharpen up a bit again before I can do any real trading.

The O/N has been almost 100% short, so there is a good chance that those shorts cover at the open especially if they do not get paid right away.

52.5 is the O/N VPOC which I don't necessarily follow religiously but I do find high volume nodes of interest. There is also a ledge at 49. If we get down there at the open, I would think that would be a buying opportunity but we shall see.

YD's range was very wide and we are currently trading right at its mid-pt. If we open right there, I would not know what to do but I would look for opportunities to buy i think

we shall see

This morning, one thing that has me scratching my head (only because I have not been listening to news that might have an excuxe (real or not)... but this is it:

European major indexes are UP on the order of of about 1%, But our major indexes are are currently down about 0.75%.

What's going on?

This is not the case today but I do watch foreign markets near our RTH Open, and on a day when we are going to have a large gap up, AND the european markets are up 1%+, even if the ES goes to obvious resistance ref, if those european markets are up strongly, the ES tends to linger for 2 or 3 brackets up near it's highs (after that large gap up) before any sort weakness and a retracement unfolds (maybe has to do with european traders holding longs?)

Well, anyway, here we are today with European indxes strong, but we're down coming into the RT open... a curiosity.

Major turmoil in China markets. Many issues halted to avoid further meltdown. U.S. analysts need to reassess. Also, network issue impacting 220 symbols on NYSE.

Thanks, BeyondMP
My main source of wonderment is why are we lower while European indexes are strongly higher.... Is our overnight being 'adjusted' by disgruntled european traders who did not get a chance to get on the price elevator in the US yesterday afternoon?

all it takes is money to manipulate markets. .

Many think China market problems is a harbinger to a crash here.

Yes,
I have a friend who is fixated on the China junk.
discrepancy between US and European indexes still a source of wonderment to me for the next 15 mintues HA.ha ha

ES has to go back up doesn't it?

Eventually

this is just a bunch of nothing.... cannot really trade this action... i think this is all just noise while the market digests everything and tries to figure out where to go next

There is more than enough volatility to make money.

i was referring to the first 10 minutes or so where the market was not doing much.... from an overall point of view i agree

beyondMP, what is your trading style and philosophy, if you dont mind me asking? it would be beneficial to the community to hear about your trading style

Originally posted by NewKid

thanks beyondMP. are the green and red boxes cumulative delta?

No, it's a combination of unrelated but correlated markets I came up with.
I used CD,in the past but found correlated markets gave me a much better edge.