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ES Wednesday 6-29-16


two videos which go over the key areas and some challenges with JUST using the one minute time profile. I'll finalize numbers in the a.m with pivots and overnight action...for those who don't have 9 - 10 minutes to hear me ramble then at least keep in mind that tomorrow ( I'm making this and typing it on Tuesday night)will be the third day in a row of no O/N midpoint if it fails on Wednesday


No video below? Try this link: wednesday_part_1.swf










No video below? Try this link: wednesday_part_2.swf









EDIT : 8:23 E.S.T Wednesday morning

The key numbers I am using this morning are


2023, 2030, 2037, 2042 and 45.50- 2047..this last one is a zone to me....an aggressive early trader could be selling the 42 area
if we can get back under the 44 - 45 area after the 10:30 reports then I will trade short side again...otherwise I am sitting this out for now and the bulls can have it...we had 2 good opportunities off our 47 line so we can't ask for too much..one minute poc is at 46 even.....so basically there is a ton of crap sitting in the 44 - 46 area and I can't make much out of that....just too many numbers for my taste now
its frustrating when people are stalling the ES while waiting on an oil report. if you want to trade oil, trade oil, not the ES!!
Hard for me to understand the correlation between es and cl the last month or so. I can't see any reason for it unless some hedge fund is making a huge gamble.
i follow a couple other forums and one of the common themes i see is that a lot of folks are looking at other markets while trading a given instrument. so you see people trading the ES while looking at oil, bonds, yen, pound, etc. they might be justifying that as a more "fundamental" approach rather than a technical approach. now if a lot of people start doing that, does that explain this madness? maybe, maybe not. i am not sure but at least that is my theory....
the first 5 min opening range was from 49 to 43.25. lets see if we get back in the OR and go thru it to the downside for the mid-pt test..
or 49 could become support.... so far it is acting as support.
i had 47.25 as 5 minute high
Originally posted by NewKid

the first 5 min opening range was from 49 to 43.25. lets see if we get back in the OR and go thru it to the downside for the mid-pt test..
just covered my call options from the other day...these were suppose to be much longer term but I have no real clue when buying options and this is way over extended up to me.........past 11 so I'll probably call it a day but will set an alert if we get back to 44- 46 area.....single prints at 47.75...will this be the dreaded 3 rd failure in a row on midpoint ????? still a long way to go till days end
you are right. i misread it..

Originally posted by BruceM

i had 47.25 as 5 minute high
Originally posted by NewKid

the first 5 min opening range was from 49 to 43.25. lets see if we get back in the OR and go thru it to the downside for the mid-pt test..

3 sets of singles on the chart...just a matter of time before that upper one at 55 fills in but pick your spot carefully on such a trend day...just pointing it out....