Es short term trading 7-26-10

The numbers seem to be getting tighter and I don't like that as it gets more confusing as to what is actually a good number. The Value area was higher and wider but Volume was only slightly higer.

Upside

1006- 1009..big volume up there

1001 - Fridays high and low composite volume

95 - 97 - Breakout and VA high ************** I think this is the most important because on friday we broke out at 95, went up to 1001, then came back down to 95 and the market held and closed at the highs....not much TIME spent here on that retest so somebody seemed to be in a rush to buy there.....we certainly don't want to gap LOWER on Monday below that

91.50 high volume

84 - 85 *******single prints began there and Fridays lows and it is now the weekly Pivot

80- high volume

73- 75 key from composite


watching a new number at 69.50 ...this is a low volume spot that the market blew through on the down and then the upside...so no time was spent there

IF THIS 1005 BREAKS LOOK FOR 1003.00 which would be even higher odds of a bounce...

1004.50 was the exact apex of the little triangle i had drawn.. they almost always act as temporary turn points and thats why i always keep track of them...

VWAP is trying to hold prices up here. You can see the big volume builds 1105-1106 and 1107.50-1108.50.

A close under VWAP would be significant.

Originally posted by Lorn

Any particular reason for that number?

Originally posted by blue

looking at 1111.35 as today's top.

Well 1111.25 was my best calc


Other peoples thoughts?

A nice call for sure Blue..I had the R2 level about a point higher but Lorn here and myself would like to know why you had that number..not sure if you forgot to give an answer ....you don't seem like the "post and boast" type.....so when you have a chance can you elaborate..

Originally posted by blue

Originally posted by Lorn

Any particular reason for that number?

Originally posted by blue

looking at 1111.35 as today's top.

Well 1111.25 was my best calc


Other peoples thoughts?