ES Wednesday 7-15-15

Good morning to all. The action in the O/N has been pretty quiet and went out of YD's range a little but is back in the range again. I think Greece news is holding everything up and markets are pretty news driven at the moment.

YD's prominent POC and VPOC at 2101 could be in play today and after that the next support could be potentially in the 95/97 zone.
On the upside we have a previous swing high at 7.5/7.75 which also lines up with the O/N high.

If things are as slow as YD I will not much to say again today but we shall see what the day brings.

Good luck to all.

targeting VAL?

VAL would be the destiny trade, but you can't rule out the support value of POC and Overnight Low.
If shorted at 2105.00 many will just take some at one point and have stop tight at 2 ticks above today's High.
Noise for today is probably only 2.5 pts, a move down of more than 2.5 points from the current intraday high would suggest a stop moved to one or two ticks profit on remaining shorts.
the POC f overnight is also a potential support area

thanks Paul. makes sense

I know that this chat is basically technical or Profile oriented, but right now Yellen is addressing the congress and IMHO, she has learned (only one faux pas testimony in which she tanked the market)...She has tremendous command of the language and chooses her words and phrasing to avoid any SHOCK to traders...she does not want to make the market go down while she speaks...and that is a factor for today right now, whether you want to recognize it or not.

i believe any information is relevant. whether we consider it or not is our individual choice but it is good to know what is going on. thanks for that Paul

It looks like the s&p is heading 2010.25 level. I will be looking to buy a pull back around the UK market close at the VAH 2104.50 level. The live trading room trades the emini s&p with specific detailed set up's. Here's a link showing you a set up explained in detail. [url]http://www.tradingrealmoney.com/Free-Trade-Set-Up.html[/url]

and there she goes finally..... i guess they finally got tired, lol

selling from 2:26PM coincided with news footage of molatov cocktails being thrown in Athens... RIght now there are clashes between tear gas launching police and rioters

why is that a surprise to the folks? 60% of the public had voted against further austerity and then the Greek PM accepted the deal anyways. So they are rioting. I guess this is what happens when news rule the market

I know.
It's amazing,
The market seemed to overlook the fact that there really will not be a resolution to the Greek thing until they vote to accept the conditions... I have no doubt that it will be resolved, but the process has not completed yet.

dont forget, first the Greek parliament has to vote. If they accept it, then the various countries of the EU have to vote. Only then would it "final"

Originally posted by PAUL9

I know.
It's amazing,
The market seemed to overlook the fact that there really will not be a resolution to the Greek thing until they vote to accept the conditions... I have no doubt that it will be resolved, but the process has not completed yet.