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ES Monday 10-2-17


No longs for me today.....blinded by short side this morning....here are areas I am watching ...expecting a test of 2514.50 as long as we can keep price under that 2521.50 number this morning.......I will post hard copy of my favorite chart in a few minutes but for now here is video ramble
No video below? Try this link: monday.swf









only areas that really interest me off my favorite chart
Click image for original size
tweekly
I think in some way the sd bands are more of an additional "hand holding" when we hit into the key areas.....I don't think I would trade them in isolation and I like the probabilities generated from chart points better and am more familiar with those
Originally posted by sharks57

Did that 1/2 SD off the Cash close from Friday help in making the short decision today Bruce. Wasn't sure where the 2525 in the Daily cash S&P equates to the futures...
I think the key take away from today so far is this : The fact that the highest volume bar happened at the R1 number tells us that it's us small traders playing in here...If big buyers where here then they wouldn't even care where an R1 or s1 or really any small fry number is.....so the fact that they are trying to push back to R1 gives us information about the day...we are on second push back try to R1 now....so if anyone is trying to initiate then watch out and create a zone out of the R1 and the overnight high....that seems to be the trouble area and will probably define how the rest of today goes.....so sellers will want to try and push down and away and obviously buyers will try for the opposite
I'm trying to go for 2518.50 on final....if I had more working or if I get "inspired" I may try to find an additional short so I have something to try and target 2514 area....concern on any additional trades is to wonder if this 2521-50 - 2523.50 is just going to turn into one giant magnet for today....hope not
my biggest mistake today.........I had a target at 2518.50 but should have used the OR high as it was closer and it's always best to exit sooner then later.....runner got stopped at 2522.25.....gap in the data at 21.75....require price to be at least 2 points above that and maybe near the swing high at 2524.25 if u feel like you need to be trading over lunch