Es short term trading 7-29-10

Numbers I'm using on Thursday


1115.25 -1117

1108 - 1110 *********

1096

1089 - 1091

1082 - 1084


let see if the reports and O/N can help refine these a bit

Range based S/R for Thursday

R1 = 1119.875
S1 = 1095.125
R2 = 1124
S2 = 1091

Steenbarger Pivot = 1105

working the 1110 short looking for 1108 and if lucky the 06... I expect a good morning with some air pockets.....

strange that volume is lower than YD at 8:30...I thought this report would have some volume today

1107 - 1108 is peak O/N volume and Vwap...could be a rough start if we open and drive up...

cautious this a.m as all who held short into YD close getting smoked so trade above YD highs may ignite the rally

Very strange indeed.

Originally posted by BruceM

strange that volume is lower than YD at 8:30...I thought this report would have some volume today

on second short from 12.50...posted in wrong thread...gotta get under 11:50 for me soon

flat on all but two at 08.25..

trying for 06.50...poc vol from yd

will try to hold last for 1101.....always hard that last one for me..stop is up at 10.50...will adjust when 1104 prints...if it prints

Did anyone read about the CSCO halt. Appears the liquidity at the top of the book exhausted and some trades higher were questioned, but eventually let to stand. CSCO ended the day near the low if my screen correct. I'm not sure but the first release I read came about the time of the low today.

Another funny thing today. GS seemed to be the only bullish bank stock I watch. Read several that think it's going higher than today. I don't care but thought it interesting how it acted. Read there is a lockup period after earnings and that's why it's down recently? I'll watch it AM. Any red and it's a warning to me.

I bring these two things up because in the context of Friday, it might matter.

Did you note how the selling pressure lifted at the Europe close but the initial reaction was less than fast? End of month might not matter if they're selling prior to their August holiday period.Will be interesting to see AM before they close tomorrow.

I mention these things as anomolies. I defer to a chart but recognize what I consider could be manipulation, if one believes in such fantasies.

Some fed gov said today he's against anymore monetary support for the economy and the fed has done a good job. Sounds like a nail to me. Hope it's not the last?