Here is a composite profile that includes all this consolidation from 5-20 including Tuesdays Trade. You may remember that Tuesday closed down at 1068 which is far below that huge volume node at 1085. This also shows what happened on Wednesday and today. Wednesday closed back above the 1085 and then today they established Value higher than Wednesday.

If I was writing an MP book then this would be "Textbook" with that high node at 1085 and then closing and building value higher today.

With any luck we will have a nice rally from here. The simplistic view is that if this rally fails then that 1085 becomes the attractor price and back down we go.

yes Paul..u will see those from reports in ON often...and they do get revisitied often....lets work on getting above the 85 - 87 first..


Long 82.25...in RTh...tough RTH session

Originally posted by feng456

im f*ckin screwed today wow...sellers are dead so far.

mkt dipped below 1082 twice, did you exit ?

need to get over 85 -87 and soon otherwise they will go for those lows and the 75 print...so Paul the break from a report always need to be monitored and when a gap like that forms it makes it more interesting...can't trade and post

Originally posted by phileo

Originally posted by feng456

im f*ckin screwed today wow...sellers are dead so far.

mkt dipped below 1082 twice, did you exit ?

no why would i exit. my stop is a time 1 hour stop.

caution shorts...
I see higher lows on -VE TICks
mkt is building pressure for breakout of 1086....
there it is....

two rts so far ..81.25 and 87.50...they will get a third...so trade for it with runners..where will it be is the key...75 or 93.75

6 minutes and then we need to fiqure where hour break test will come...

im out at 86.5 for a loss of 5.5 and a net gain of 0 for the week with commissions. yay.

Originally posted by BruceM

6 minutes and then we need to fiqure where hour break test will come...

IB = 1080 - 1088
minor support 1085

huge vacuum between 1088.25 and 1091.75 - what would you call that one, bruce?
:)

it's all a gap as long as we are below the previous days low...I don't call it air so not to confuse it with "air" made off of the RTH session and the 5 minute bars...but in essence it is AIR


damn this 85 - 87.50....I'll be watching for a selling tail IF we break that high and then get below it again on the 30 minute bar....that could be our first sign of sellers returning

Oh great..u'll enjoy that...Have you read Daltons Book?