ES Short Term Trading 5-12-10

1140-1142 area seems like it needs to hold for longs (even w/a quick small flush, stop run) … if it breaks and holds, further pushes down to next Support levels are a high probability, especially if overnight trading doesn’t rally much from the RTH close … Daily S1 is also at 1139

1160-1162 is initial likely resistance if price moves up … and it seems that we’re in a choppy or range swing of prices right now

1170 is possible but don’t see it quite getting there or exceeding it … this is based on how price trended up Tuesday and then retraced so much of the move.

I’m biased long looking at the charts and some stock charts ... from 1140 to and up thru 1150

Tossing out both a 30min S/R chart along with a 5min chart to drill down to more micro-S/R areas

Hope this is helpful as a map for the day (barring another weird giant news event which seems to be the typical gig lately)

"Modified Air" at 63 has me with a small short from 66.50..this experiemntal and willexplain later if interested...

Paul, Neutral because Volume was fairly symetric and bunched in the middle of the range...on Monday


Nice trade John !!


Market seems to be trying to decide if the high from yesterday is too high and the O/N high is just right....we are wedged between and I'm not sure who will win this one...so far buyers of course..

added at 69 but think they are gonna smack me...

thanks for volume distribution explanation, Bruce.

Originally posted by rburns

excuse me for asking, but what plan:}

what do you mean?

Originally posted by day trading

Originally posted by phileo

Originally posted by feng456

plan was followed to the letter.

Hi feng456,
None of us have any clue what plan you are talking about.
If you going to keep hijacking these short term trading threads, then the very least you can do is to contribute your trading plan for the day

I think that feng asked us in a previous topic a week or two ago if he could just post whether he had followed his plan or not. He feels that if he is publicly declaring his success at following (or not) the plan that it will make him more likely to follow it because we might berate him for not following it. Is that accurate feng?

yep i did ask. people are starting to act like nazis around here eh?

best is 65.25 ..have two left due to add on...I want that "MA" modified air...lol and new lows....wishful thinking perhaps..a poke above 67.50 will stop out last two...

69 was a key zone but u knew that

we're all cool Feng...we know what you are doing...glad you followed your plan....

Originally posted by feng456

Originally posted by day trading

Originally posted by phileo

Originally posted by feng456

plan was followed to the letter.

Hi feng456,
None of us have any clue what plan you are talking about.
If you going to keep hijacking these short term trading threads, then the very least you can do is to contribute your trading plan for the day

I think that feng asked us in a previous topic a week or two ago if he could just post whether he had followed his plan or not. He feels that if he is publicly declaring his success at following (or not) the plan that it will make him more likely to follow it because we might berate him for not following it. Is that accurate feng?

yep i did ask. people are starting to act like nazis around here eh?

Damn HV node got in my way....still a cool trade..

One ticked the high so far