Monday (12-03-2007)

Thought we might try and organize our trading ideas and thoughts on a per trading session basis.... feel free to post news, trade setups, charts, and trades for today in this thread...

... looks like we are opening flat in the middle of the prior day's range in the ES and YM, the NQ and ER2 are testing yesterday's lows / support...

sounds like a bit of news & fed speak on schedule for today so be aware there will be news headlines hitting the wire thru the session.

I have no bias at this point in the session, just noting support seems to be holding in the ER2, for the moment at least a few bargain hunters are dipping their toes into the long side of the market here on the open.

ER2 broke Friday's low, other indices are still holding at or above their respective lows from Friday, thus creating a divergence... indicates to me a possible trading range scenario.

US Treasury Sec. Paulson speaking now on the plan to bail out bad mortgage debt holders

ES 1474 & NQ 2075-80 zone looks like support for the time being

I trying to fiqure out which way they will take out the first hour range...leaning towards upside in emini SP

triples exist on SP at 81 even so my blinders are on for upside trades only..I like this 78 area to get in...

my concern is this very large first 5 minute bar of the day..seems like we are going to chop...other concern is that weekly pivot sits down below at 1460 area..but I need to stick with the direction of the triples...for now...with any luck they will take out triples, hour high and then fridays close...that may be asking for a lot

Good read Bruce !

ES 1482-83 looks like a zone the market may struggle with a bit...

83 held on the ES back down to 74 !

nice zone.PT....did you get that from gap fibs or overnight volume area...or something else.?....seems like 79 -80 becomes first key area on upside for Tuesdays trade..Dow was trying to keep the market up today.....

quote:

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Originally posted by pt_emini

Good read Bruce !

ES 1482-83 looks like a zone the market may struggle with a bit...

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quote:

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Originally posted by BruceM

I think I see it PT..I know you use trendlines...so that 1483 was hitting on one..I like how the YM was breaking it's overnight high while the ES didn't get above it's overnight high..Dow usually won't lead for too long but some days it actually controls the market mood...today wasn't one of them...

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Yeah just the basic S/R lines. Any time the market starts meandering inside the previous day's range I tend to look for the most obvious S/R lines on the chart....the usual list: MP, pivot points, prior day's H/L...ect

Nothing fancy, keeping it simple