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ES Wednesday 9-13-17


just some thoughts...not too much to go by as we make new highs in SPX without much range extension...I'm skeptical up here
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and a quick view of the volume at 91.75 today....that happened early and no other big volume showed up......so that makes me even more suspicious....a break to new highs isn't attracting constant new volume at higher prices....today we had that one spike and that was it for the day.....
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no excess on yd's high and new high made in overnight will have most concluding that the high is not in yet....I see nothing great and will wait to see what happens at 87 - 89.50 area to possibly look for longs .......all inventory short so longs are preferred ...using caution though as market seems over extended to upside
midpoint at 92.25 would be target
and poc at 91.50...so don't be a pig !!
92.25 was also pivot today !!
oil inventories at 10:30 and while the ES doesn't usually see big moves following, there are still many who just wait for that report....if you didn't get the long off at the VA low then I would wait until after the Ib has formed to trade....as for me I'm getting out of here to go stain my deck railings...volume bar I'd be watching comes in with a low of 91.25 and a high of 92.25....so right at yd's poc....weak pushes up or down away from that - that run out of steam will come back to that.....very dangerous trading in the middle ...that is why I like to wait for the edges of bell curves....hence the 87 - 89.50 zone