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ES short term trading 4/08/10

crucial day.. short term bias:down (hell it is Thursday, right? ). well yesterday they took it down almost to my 1172.50 number (and the trendline!) falling just short at 1173.25.The bad news is last night on globex we hit 1172.50 and crashed below the trendline. Oddly enough, seems like most bloggers are expecting a wave 3 explosion higher today, so one of us is going to be very right or very wrong!
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Be careful, once russel touches 691 we might go to open
Well heres how i played the set up. we are oversold up to the- hourly charts which are closer to nuetral. We think that this hour ( 9-10:00 am will be a low and we hit the first of the buy numbers. ( 1171.50 AND 170.50). I had an order to buy one es at 1171.50 and one at 1170.50. just exited my long (1171.50)at 1173.50 cause of the one min chart. im not interested in holding for an hour or 2 tho that might be indicated. if we go back to 1170.50 (order still active) , i may consider it......
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So far all markets are holding above their overnight lows..not only that we have the ES S1 level coming in at the overnight 72.50 has a lot of players there today for different reasons...if we can retest the 1174 area on this down test and hold it we will go on to make new daily highs and test the 79.50 and the 81 area..
Great analysis, Bruce. Btw, for those following, yes i tried to sell one at 1176.50, it hit me but no fill... thats ok cause i prefer waiting for that 1179 and change level that Bruce mentioned.
thanks Kool...I'm not thrilled with that 74 retest and the lack of the Nq participation...I think there they may come back for that 74 again....%^%$...I hate it to be conflicted
In all my years of trading I feel that the market makers are more afraid to trade the market than us. They like following Newton's law of inertia. Come on make the push to the open.......
what happened here AK1...I think Rburns has a point that we need some kind of reason and follow up.......but I don't like how he is coming on here and not really contributing...only trying to get your "secrets"...I think we gotta give a little to get a lot...anyway I'm trying to keep you honest...LOL
Originally posted by ak1

Short 1183.
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