ES short term trading 1-25-11

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.
Pretty good trade so far,WS! I'm as you know really targeting smaller scalps, so i'll still sell 1286.25 but i really dont disagree with your outlook at all!
that would be just the rth session for me kool
Moved stp up to 1283.75
ES trading 1285.75 @ 10:58
well, im short from 1286.25, but with a very tight 1287.75 stop. the 30 min close bothers me as you have a bullish engulfing thing going on
i'm going to try and exit 1284.25 for that reason...(one es only here)
looks like my luck is waning ...BINGO/ but no fill!
nice trades folks so far...Koolio u r on fire !!! only 15 % of the time we get an inside odds favor a dip outside of yesterdays range....just not convinced it will be yesterdays high yet... watching NQ closely as it seems to be struggling at the hour highs and could not close outside the highs yet...

best is to fade on these consolidation days...but then again I think it's best to fade everyday
Stp out 1283.75

ES trading 1284.00 11:12
Originally posted by WS

Moved stp up to 1283.75
ES trading 1285.75 @ 10:58
LOL, YEAH , You and me both, Bruce!...out at 1284.25,finally. plus 2 more for the kiddies!
Click image for original size
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.