Boring, yet interesting day yesterday. The market, and this is important, proceeded higher ,against the seasonal tendancies (which denotes strength. Today, which is State of the union day we seasonally should be under pressure for one more day before things turn more positive tomorrow, We'll have to see what develops.Historically, state of the union day is positive overall for the next few days (higher today for instance 16 out of 20 times) . That would line up nicely with the more positive seasonals from wed on...Note also that the nas was leading on an up day, not lagging yesterday, another positive in my mind. Todays news releases are a wash in my mind with likely neg housing reports and a likely positive consumer confidence report.I dont expect any thing real dramatic today, but it seems possible we could be setting up for a positve last half of the week ,as speculated in the weekend preview.

ok ,you see how i have the initial proj drawn offof 1288.50 ,be advised the Full initial move from 1288.50to 4.25 has a 1.618 slightly lower at 1281.50 ,so thats the initial target range for me 1281.50-1282.00. I'm probably going to pass on a buy however, cause i want to be short today, not long ... at least for now!

with a bit - o - luck Kool we will go back to the weekly open and lower....inside the range of YD and two sided trade from open so we can't be too greedy and expect too much trending action....I'd like to see the 10:30 close below the open print for some minor confirmation

Yeah, i guess i cant be too bullish yet, cause the 30 min bands are still fairly flat (re-inforcing your view!) and i still have that dam 1277.50 projection to deal with!

To show what you two are talking about see how prices surged above VWAP on the news but quickly have fallen back under with most of the volume in the profile coming below VWAP as well.

Wow! excellant chart and info Lorn!... Hey Bruce, when you refer to the weekly open do you mean Monday's rth or do you include Sun nites globex open?

Kool, that was cool! Beautiful calls! Congrats!

Originally posted by koolblue

exiting here!

Originally posted by WS

Kool, that was cool! Beautiful calls! Congrats!

Originally posted by koolblue

exiting here!

well, the long was a good trade risk-reward, etc , but the short WAS a bit lucky in that when i placed my exit and changed my stop i went ahead of the game and placed a sell 2 order at 1277.50. I dont usually do that! But it worked out.... right now i see 1286.25 but im bothered that we didnt hit 1281.50-1282.00 as we should have!.. still can i guess... might sell 1286.25 now

In order for today to go south, it will need to move below 1281.00. From my perspective that is.-

I'm long @ 1282.75 with stop at 1280.75 and targeting 1289.00 or previous day high and possibly higher to 1295.00.

Will see if it give it to us.
ES trading 1285.00 @ 10:43

Moved stp to B.E.

ES trading 1285.00 10:45

Originally posted by WS

In order for today to go south, it will need to move below 1281.00. From my perspective that is.-

I'm long @ 1282.75 with stop at 1280.75 and targeting 1289.00 or previous day high and possibly higher to 1295.00.

Will see if it give it to us.
ES trading 1285.00 @ 10:43

Originally posted by koolblue

Hey room, when you get a chance check out my reply to that guy on traders lounge here at mypivots!..LOL if you agree vote him down! If you think im being too hard vote him up

I deleted that topic - I agree - did not add any value.