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....

i'd like to see this retrace stay above 58.50

MAN...FRUSTRATION! 2 dead nuts strikes for me at 1050.75 and 1061.00 and no fills!

hour range run coming !!

trouble again at Kools 1061 ,but i belive we break up to the next proj at 1062.25, then pullback a little then finally thrust up to the 64.75-66 zone...

last two off at 61.25...don't like the hour run break into a VA low like this...seen too many problems with holding

note the converging mov avgs at around 1058.. i'll still buy the 57-58 zone here on any pullback...at least for now

Bruce,

I've been fiddling with 60 min volume as per your comments. Here is my chart. I see 1062 has big volume going back in O/N and yesterday. Is this resistance? And if prices get through would you be targeting that 1064-1065 area with light volume?

I see those averages Kool.

Originally posted by koolblue

note the converging mov avgs at around 1058.. i'll still buy the 57-58 zone here on any pullback...at least for now

I don't use volume but that seems really good to my methods as it would be a retrace to that ascending black S/R line on chart posted earlier. 1 hr 50 sma at 1064 here. If it gets there, what do you think all those longs from yesterday will be doing?

Thanks for the posts Bruce.

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