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ES short term trading 5-19-10

Here we are! The 19th, which my work shows could be a pivotal day! It should come as no surprise that we went all the way down to the number shown on the weekend preview, the 0.786 retracement at 1110.25. It is also the 2.618 projection from the 1147.50 high on the one hourly chart.Also it is the 3 std deviation line on the 13 min vwap. Cycles had us down into today ,then up and down again into the 24th. So its all coming together... or is it? Extreme caution is advised , as today either marks an important low.. or the breakdown of the indexes for a true test of 1090 or even 1056!
I'd be real careful selling down here...I just don't like it when we have a big first hour range....seems like consolidation to higher is more likely.if we break that low.with that key zone I mentioned at 12.50...that is the 3 day composite the magnet
You are on fire Kool good call the 02.75
we need to get over 1106.50 or else we are not looking very good...peak volume there not getting above it
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trying to get 06.60 and the 1111 retest...just below our key nuber..
look atthe $ real buying today.....
multiple 15 minute closes and hour close at that 11.25....they see go get it...damn ..what a crappy low....this gonna be tough

they gonna run it I think and smoke folks out...a very bad low that double bottom...I hate them when long...LOL
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Thanks for the feedback johnpr2010. Judging by the number of people that visit the site versus the number that post on the forum (1 to 5%) I'm guessing (and hoping) that there are a lot of other traders out there who are a little bit more profitable today because of the generosity of one of the other traders on this forum.
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