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ES Thursday 8-24-17


watching 48.50 and 51 area first for short fades for those who don't have time to watch...inside day yesterday after a low volume day on Tuesday...I like trying to go for the 45.25 target today.....we don't usually see two failures of overnight midpoints in the same week but when we do it usually happens in a row...meaning one day follows another and isn't separated by days that do print the Overnight midpoint......got that ??

here's how I see it and will edit and add on an options video a bit later
No video below? Try this link: thursday.swf









scary what I think or swim is doing and what I have resolved to use for standard deviations...I'm gonna write to Tom Preston to get one more opinion but for now this is how I am looking at things
No video below? Try this link: options.swf








and here is just the day session...u can see the MP lines and singles from Tuesday etc...for those who want a quick visual...everyone will be watching to see if they can get a valid breakout up from that inside day yesterday and us faders want it to fail to drive back to the poc and hopefully the Overnight midrange


Click image for original size
daysession
scaled heavy at 45.50...runners will try for 43.75 and 41.50 but that could take a miracle....this will be only day trade today for me...gotta crack this POC from yesterday to have a chance....textbook setup...break overnight high into our single print/ low time spot
revising final to 42 if they will give it...we are at YD's midpoint and the VA high from the overnight
Right with ya! I waited for the 1 minute break and hopped on at 46.25 Now watching for Bittman to trigger.
Originally posted by BruceM

scaled heavy at 45.50...runners will try for 43.75 and 41.50 but that could take a miracle....this will be only day trade today for me...gotta crack this POC from yesterday to have a chance....textbook setup...break overnight high into our single print/ low time spot
Regarding TOS, I have heard it has a bunch of quirks. I use it but always generate my own numbers.
36.25 will be the VA low of last week which I would expect to print more tpo's at between now and close of friday...see video for that idea if u need clarity
what is your one sd move for this coming week and did u just use the Vix closing price ala bittman?
Originally posted by Big Mike

Regarding TOS, I have heard it has a bunch of quirks. I use it but always generate my own numbers.
48-49 points SPX=1SD. Using 11.92 VIX
Originally posted by BruceM

what is your one sd move for this coming week and did u just use the Vix closing price ala bittman?
Originally posted by Big Mike

Regarding TOS, I have heard it has a bunch of quirks. I use it but always generate my own numbers.

so far the value area and the poc of this week...(currently at 2443) are both lower then last week...something to think about in case you get the strong bullish urge so late in the week...I still think 2440 - 2443 is the area to keep your eyes on
cool...I just wrote to Tom Preston from tastytrade...he's helped me out in the past and told him it seemed like the other method ( the one you use and the one from the analyze tab) was close to 50 points.....
Brillant Short in the early morning Bruce. Market reacted off that single print zone as you pointed out. It pushed above O/N high and collapsed.
Forgot to add, I know it was obvious, last night was the lower low I was looking for this week.

Pretty much done.

Good luck to all.