ES short term trading 7-6-10

This week's Economic Events.

that is second try to run it out above the 33 - 34 zone...lets see what happens if we get below there again...not bullish to me so far

Bruce, isn't there still some air in between 34.25 and 33.75?

a one point range at that 10:35 , 5 minute bar...!!!

yes...that's what my runners are going for and watching that 5 minute one point range bar for stop

Originally posted by PAUL9

Bruce, isn't there still some air in between 34.25 and 33.75?

nice shelf...we gotta trade for that to get broken!!...will resell if stopped out if they run hour high out..but watch volume because when those shelves hold they sometimes go 8 - 10 points off them..not expecting it to run today

there could be a bunch crap sideways.

I monitor first 15 min range of RTH and often (not always), but often, double that range can be ceiling. first 15m H minus first 15 L added to first 15m H calcs to 1038.50.

If a new H can be made 11-12 window, often signals end of morning lift, BUT, drift sideways, lower is often BOT later in day.

summers here...need failure and quick now that air is filled...trying to hold for the hour low run....could take all day...$tick wedging downward....


MP single print players may still try longs...need them to give up long idea...and get 1.5 points below air pocket to feel better on these shorts......low range 15 minute bars high is at 36 so don't want trade over that now

same people who bought to create original air pocket are deciding if it is worth taking the long again...nice little battle in here

I think test of OR15m H is next price of signficance, if buyers do not step forward... well, test of Low possible.

Bruce could you just briefly explain what you mean by a crappy High?

OOOPS,
I had a wrong number back there in my comment about the 15OR H plus range of 15. SORRY, was reading line on chart in stead of table of data. 100% range added to first 15m H is 35.25

H of first 15 is 32.00, being tested now.

Here's another view of the same chart that BruceM posted above. I've stretched it out vertically to make the air pockets clearer.