ES Short Term Trading 11-17-10

I think, today we will be trading within 1184.00 and yesterday's low 1171.00.
My daily projection #s for today are:
1,184.75 - 1,180.50 - 1,176.25 - 1,171.75 -

Below 1171.00 --- 1,167.75 - 1,163.40 - 1,159.25 - 1,157.253

Will see. The market always has the last word, and in due time will show me the way.

added at 81.75....anyone see anything in O/N data which may help this fade?

I think we are in the process of finishing wave 4 on the day session. Currently making "e" of 4 . If correct then tomorrow should start moving down again towards 67 and possibly lower.

Looking at my 30m overnight, the ES just hit the 1184 area posted in this thread earlier today. There is also a 1.278 ret at 1184.50 and the MdP for 11/17 was at 1185.00. Will you say that there is plenty of resistance in this area? I think so. If ES moves above 1187.00 (!.618% Est.) Will indicate that I'm wrong in my assumption of finishing wave 4 and will cancel my down side view.

Good luck and good trading.

Originally posted by BruceM

added at 81.75....anyone see anything in O/N data which may help this fade?

took loss at 83.75....trying again from 86.50 as it was peak volume early on Mondays session...will add at 1188 ..targeting 84.50 if I add on at 88 number