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Es short term trading 6-09-10

If we can hold back any decline into 52.50 then we have a chance at seeing 84.50 and soon..we have lots of numbers there as of this writing.

Above yesterdays high and RAT we need to get past that 68.50 and 70. We naturally be a break out of the Monday - Tuesday Range.To go get 84.

The R1 and R2 levels match up with the RATs so those become more important. You can see how we consolidated at 75 - 76 so be careful there. Just because we think we are on track to go get that 84 volume area doesn't mean it will be easy.

Quick summary so far

61 - 63 Rat and O/N high so far

56 Rat and that key spike bars low..and Weekly MIDPOINT ******

50 - 52 Rat , VPOC amd POC from Tuesdays range

We have two shelves of support so watching what happens if we get down into the 50 - 56.25 RAT will be critical..

If we get down belwo 44 then we may decline to 38 realy quick. I'm hoping we don't see that today.

Wednesday is a good day for Gap fills..

30 and 15 minute charts made a higher low so that is a good sign.
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we should have 20 - 25 points of range today in RTH so we are shy of that...simple math tell us if the high is in then we will get a gap fill...if this low is good then they will try for the 84 - 85.....but what we really need is a way to get there..

I'd really like to see the 68.75 - 70 area hold this up over lunch...I want the bulls to win for a change
Bingo...out at 1073.00.. pretty stupid trade i guess, but it just seemed like a gimmee cause of ..a} the 1071.75 price projection and b)the prc band on the 5 min. it was also the 13 min red avg(15 ema) so all those factors said we HAD to bounce a little ,even if its going to 1068.25 next (which is my next point of attack!)
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sO TO SUMMARISE: one and 5 min proj. 1068 and 1068.25... 5 min lower prc band right here at 1069.75! 13 min proj 1069.25, 13min vwap is 1068.50, and 30 min red avg is 1068.50... lotta support?
what comes first now 71 or 66!
gap in the data...71 should print again off this 68.75...I hope...!!
Bruce i'm looking as the same thing as you now.

Would the 13:45 bar's wick negate that gap around 71 now? or does a body need to fill it?
I don't "do" candles but nothing negates a gap like that.....the only thing that negates it is if we are wrong and it doesn't fill in by days end......Bring up yesterdays day session ..specifically between 12:30 and was like a gap marathon..! A truely amazing day for all those...and we chopped around to fill ALL in...
Longer term players might want to refer back to the weekend preview and calendar... cycle high today ,working lower into the 14th.. DONT FORGET TOMORROW IS ROLLOVER DAY!...C YA!