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ES Short Term Trading 10-7-10

What I said yesterday still applies (yesterday's RTH was an exact to the tic match of the 40 day high print)

GapGuy study looked at Gap Up openings where the Open was a new 40 trading day H. Incredibly, historically, 82% of these gaps fill on the same day.

This happened on Thursday, 9-30-10 and that gap filled.

If today, Thurs, 10-07-10 opens above 1158.75, that would be a gap open at a new 40 trade day High.
was hoping it would go 1.75 above it to get short.....missed it!
just for reference when the ES attempted to fill in it's air pocket the YM was the only market that got above the PREvious days and NQ didn't breach those highs
triples towards the lows...not a bad idea to trade for as the ES is weaker and we had an open and drive type of day so far...CONTEXT!
somebody is likeing our friend the 55.50 - 56.50 area......perhaps later in the day they will detach from there
48.75 is the only real stumbling block possibly for shorts a s that is an air pocket from the hour breakout on Tuesday!
sellers will try to sell above the 50% back so above the 54 area is ideal sell point
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