ES numbers 4-28-11

key support zone and probable magnet:

1345 - 1347.25 - this has VPOC, vwap, the Va high, the midrange.....I think that will need to get tested and soon perhaps in O/N trade still

1352 - this was the biggest volume from YD trade at around 3:35, then the 4 pm close was here and then the 4:15 lots of interest there

Yesterday that was a spike in the afternoon and the market did not get TIME to digest that late afternoon rally( read Daltons MOM) so where we open in relation to that spike means something
hey, 51.50 held and price just retested yest H, and took it out,
now, if price moves above 55.25, could be another small squeeze, but if price remains without prints above 55.00 and then pulls back, watch for 123.

I am not picking a top I am watching to see if the market gets overwhelmed by sellers at these levels.

AH H was 56.25
RTH only R1 is 57.50
also note that 1355.25 is the 0.886 retracement of the entire (so far) high to low
I will say this about this PA, my expectation for immediate retracement diminishes if price prints more than 3 ticks above key level. and it already has, BUT,

it doesn't mean that good retracement won't occur later.

a failure swing would still be a sell signal

AND, NQ has not confirmed new RTH H.
NQ is languishing.
only a plus 700 tick....this trade is gonna really work great or they will blow me away....HA!!!!
short term update...this is what im watching...
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first target is now 52.75 due to add on...that is peak volume
need to get and stay below IB high ...critical here
hang on Bruce...
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2011 04 281120
Trying to get short @ 1355.25 patiently-
DOW is weakening...hang on Bruce
don't you just set that up as a 5 tic reversal chart in Market delta...? perhaps I missed the Point and fiqure option.....I'll need to look again...thanks
Originally posted by Lisa P

Originally posted by BruceM

Lisa I have Zenfire data and we aren't matching that IB data you have on your 5 tic reversal footprint ? Can anyone fire a chart like that up and see if their data matches....?

I had buyers winning into the 11:16 bar but then at 11:30 bar the sellers took over...just want to make sure my zenfire data isn't goofy!!

Bruce, yes, I have IB feed. Please note that I use "point and figure" chart which is NOT time-based, not sure what you use.