ES Thursday 6-15-17
number and zones I'm looking at this morning...options have a 19 point one sd move between now and Fridays close, if we take that from the 4 pm close of Yd then it gets us down to 2417 ! So lots of numbers down here now for confluence....I can't be a seller with all that going on down there..prefer to be a buyer
finalized numbers for me are 22.50, 26 - 27 and down below at the 16.50 - 17.50 zone........only longs for me this morning but will not be aggressive...I know if options folks and everyone else starts to give up quick then sellers could come in strong and I do NOT want to be fading that with large size
pigs...oops I mean greedy traders...like my runners are trying and wondering if it will be the S2 that prints at 2418 or can they push to 26.50......in other words...which floor trader number will it be......? Notice how our 22.50 number divides those two targets...I'd like it to be 26.50 but we also have the Overnight Va low at the same area as that 22.50 so if long come out heavy there to be safe
a quick follow up while runners try to work some magic...bad track record this week on runners....I think I said S1 in video but meant s2 at the 18 area if it flips over
this market rolled over right at YD's vpoc of YM ....my runners are stopped....will try one more long side trade but will keep it even smaller this time ..ideally in 2416 - 18 zone and will see how Ym reacts at YD's lows
if Ym goes under 21232 then I will not try fades anymore and will be done here..if long off the 16 - 18 area then scale heavy at 21 this time....at least that is my plan.....don't mean to tell anyone how to trade
a quick ramble and my favorite chart .....I'm showing same chart as in post 1 today with the rth action at the zones...also what Ym was doing
coming out heavy on all runners at 2425...this is only the second time that runners have hit a longer term target this week
I'm chalking this up to just a lucky exit and I did nt get filled at 2425 on exit..just an FYI
once again we have this YM/ ES divergence...ES made new highs but Ym could not ...sure seems like they will want to go for the overnight low probability now....I'm not pressing my luck further and closing down platform so I'm not tempted back in...failure to get back into yesterdays range is certainly a weak sign so far.......also 25 is a key number people watch...like the 00, the 25 , the 75 all key numbers but how many numbers can we watch??
Thanks Bruce...I played this morning with you to the long side, but didn't have a moment to post. Great analysis!
forgot to post this....why 29.50 may be important