ES discussion for Wednesday 7/29/09

That's the TD set, which has not been able to push this up after the first, initial strong reaction. That may just imply chop. You still don't have the key set I have been mentioning, which is the best one for clues right now.

Watch this TL and 1.272 ABCD here. I suspect up for the rest of the day, but it will have to prove it. I plan to stay long side bias in here until the price action gives me a clue. And it is very close to a downside clue right now. They must come in if the upside is to stay strong.

quote:

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Originally posted by jimkane

...And it is very close to a downside clue right now...

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Well, look at that. Last chance for them to come in here, right at this spot.

Well, I'll be.

Watch the small TL/set line here, in case they want to keep defending that LOD.

970 area key spot, as shown by copied trendlines which capture the flow of price action. 2 min chart. Thank you Jim, for pointing us in that direction, in MLFS.

I have the set on the 1 min chart. Could be a bit off since I am charting 9u30-16u. Right ?

Actually, that is the set I have been mentioning, but I don't know why those division lines are so far off from mine, which hit much closer. I used 9:30-16:15 RTH eSignal data for mine.

updat

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Actually, when I look at the tick size, it is very close. That's the key set for now, IMO. So, use this for mid-range 'context', look at the TL wedge on the previous chart, and the rabid desire for them to defend that LOD (seems odd, huh?).

So, they did the 10 point ramp, as expected, and this play is still running. Not bad, eh?