ES 3-24-2011

Here is the developing RTH weekly profile. Obviously prices are well above this at the moment. Also on the chart is Paul's Monday Range fib extension where if prices reach the 1.618 extension of Monday's RTH range on either side the probabilities of prices hitting the 2.000 range are extremely high during the rest of the week. In this case to the tick almost!

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Good morning, Mr. BigWig
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2011 03 241057
targeting 99.25....have 1302.25 now too.....a big failure here above the O/N high will try for 1306 - I'm watching volume near O/N high IF it comes real close to take the loss...
Further to price levels...
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2011 03 241108
added at new highs...this is a real time experiment that may really beat me divergence up here...with volume diverging
targeting 1300.50 to close out this campaign...chart later...even if it fails..
i just got out of my position short..1301 not worth holing it.. this market has been over bought since 1297 someone is buying it up. just have to ask why? is it for a rally or do they want to be the only one holding the all cards when they short the market with 40K contracts
My mind set was bearish and so it kept me out of this rally.. thankfully i've learned that sitting out until you can adjust to market conditions is sometimes a better trade than forcing your will on the market. Admittedly a lesson i learned the very hard way when i first started out.
We are at the bottom of old gap
Lisa- What is the time frame of the delta charts your posting ?
"The 1303 area is considerable resistance ,but i tend to think we top out a little higher..perhaps the triangle apex ? "... Nothing has changed for me!
PT, Delta is not time based - it is more like "point and figure " chart. Actually it is a point and figure chart.

Mine is set to 5-tick return, meaning that if market moves more than 5 ticks in the opposite direction, chart starts a new column.
Hope that helps.
s&p 500 cash high today...1311.34! Thats now a magnet,imho!