ES 09-09-08

Here's some sq of nine S/R #'s I am looking at today....

1315
1297
1283.5
1279
1268
1261
1247.5
1243

Short @ 65.5 targeting 50.75

selling here

short 2 @ 1266.00,4 point stop

highest volume bar of the day came in at the minus 8 number but ticks only at a minus 600....based on volume alone it looks like they want to test higher from here

Bruce,

I was reading in your pit bull thread last night, and todays low was 8 points off the open ;)

Edit-grammer

covered at 1266, breakeven... watching but looking to sell

oh man those 8 point numbers are so cool...I would modify it to be in the 8 - 10 point range...but If I saw a plus or minus 4 into a key number with ticks and volume then I would most likely take the trade...but generally speaking the minus 8 is amazing...and plus 8 on upside...some use increments of 4 after that...12, 16 etc....like anything else we need to see some other signal to help pull the trigger

Pending home sales and wholesale inventories #s at top of hour

As you know I work with fairly simple ideas....and most are horizontal in nature...most are so simple that folks can't believe they work......I guess thats why sometimes I am a tough critic on things that look complex to me.......always refreshing when I'm proven wrong though and keeps me humble

That fellow you were giving credit to in that thread was it Buzzy Shwartz, it sounded just like him?

Bruce if you split the red lines it called the high i.e. 1261 sq root +.125 squared = 1269.89 RTH high was 1269.5