ES short term trading 7-20-10

When i projected much lower prices,last weekend, few believed it. Everyone was looking for another 1100 test and higher. You probably wont believe what i feel comes next either! lol.. But enough macro crap, heres a snapshot of the near term ,going into the morning....

selling here for a quick scalp at 1059.50

HERES WHY....

59 was an unfilled 60 minute POC........the other is 62

COVERED ONE AT 1058.00...PLUS 1.5..holding the other afor 1057.00 or so

come to papa boyz!!!!

todays low seems suspect to me so far....too many stops there ..conflict in low volume

out at 1057.00 on the other.. plus 2.50 there...so far so good. Makes me feel a little better about missing the 1050.75 buy....watching

Now the test of red avg support at 1056! (the 15 ema on the 5 min chart)

I will buy new highs if the 55 - 56 zone holds this decline...not a good read here.....as that damn low tearing at me

First 30 min volume was roughly 20% lower then the running 5-day average.

Thanks for the posts Bruce.

I'll leave you alone to gets some rest up for tomorrow.