ES Short Term Trading 10-12-2010

Footprint coming into the open. You can see delta is decidedly negative on the bottom of the chart but prices are trading above VWAP and they are back above yesterday's low of 1157.75.

was looking to get long down at 51 but wasn't quick enough...for some reason the market is liking 51,56, 61 ...every 5 points during this low range stuff......I'm thinking this may firm up for a gap fill today

Got to get above VWAP here or else another run at the lows is very possible.

once again the lack of 10 am reports leaves the market unispired so drifting back into range was the way to be looking...most stops now geared at 59 so that should get tested again today...just not sure when with the gap up there still,,,


you can see how the 51 area, 56 and 61 played out so far....I'm not convinced yet that the OVB upside on a daily chart will print today but the 65 is YD high area and another 5 point increment that they like lately

this is what those stops look like on the 5 minute...NOW IF and a big if they win they will try to run it 8 - 10 points beyond that stop ( ledge point)....I don't think so today