ES 5-19-11

Prefer shorts on a higher open today or after 8:30 A.M reports.....Yesterday was another low Volume rally....

keys on upside will be 45 - 48 and 52.50 - 55...ideal sell zones


other key area is 1340..lots of time spent there....but the biggest key will be 1332.75 - 1334.75 as support ...this is where the buyers defended yesterday and we have the peak volume price that never got revisited.....

Options expiration so I am working under the assumption that they will want to keep it away from 1350 as long as possible..


Many reports at 10 this morning which makes life a bit harder ....

Excellent point Paul...it was all a part of the process and we are all still evolving as traders.....

Originally posted by PAUL9

Bruce,
did you ever think that you first had to go through that search for the indicator Holy Grail, and spend a couple of years in a futile state of frustration before you could absolutely reject the use of indicators... and search for something that might work.

O.

Nice little battle and this is why I avoid certain areas....we seem to be stuck between that 40 - 41 area and the Overnight high and opening range high....seems like they will want to bring this back to the 40.50 number as per volume nodes

from a purely technical view it will be interesting to see if they can get back above the current days highs .....that might try to bring in breakout traders but in my world that would put trade on both sides of the IB and that would be a bad thing in general for breakout traders

36.75 - 37.75 is where the volume came in for this up move...and for those watching..there are triples down at 36.....even if they don't reprint today it is good to keep track of failed triples ( those that don't fill on the same day) .....

Oh, I missed that. Been reading and had my eyes fixed on other things today. May have been a better thing for me... at least today.

Although... Someday I'm gonna be the one to announce at least one! Why it's so important to me, IDK?

Opps... it just got closer. It's got a big mountain to climb though!

Daniel, you offered a script for Triples today and you had asked me the other day if I were using esignal... I am not. Sorry, I kinda left you hangin there.

Originally posted by BruceM

36.75 - 37.75 is where the volume came in for this up move...and for those watching..there are triples down at 36.....even if they don't reprint today it is good to keep track of failed triples ( those that don't fill on the same day) .....

Looking at yesterday's RTH low and today's RTH high, we made a perfect 52.8% pullback. Moving to new highs? Looking for 5/10's unfilled gap at 1354.25 as a potential target.

Triples! Scratch this off my bucket list!

Originally posted by BruceM

36.75 - 37.75 is where the volume came in for this up move...and for those watching..there are triples down at 36.....even if they don't reprint today it is good to keep track of failed triples ( those that don't fill on the same day) .....

Speaking of triples, I have a question. In the above statement, its seems as if you are implying that if we didn't retrace down to 36 again that it would be a failed triple at 36. But, wasn't it already filled just a few bars after it happened (as shown in the pic)? Or am I missing something?

trips must be exceeded not simply matched.

...and now its not just trips but also a ledge!

Originally posted by neoikon

Originally posted by BruceM

36.75 - 37.75 is where the volume came in for this up move...and for those watching..there are triples down at 36.....even if they don't reprint today it is good to keep track of failed triples ( those that don't fill on the same day) .....

Speaking of triples, I have a question. In the above statement, its seems as if you are implying that if we didn't retrace down to 36 again that it would be a failed triple at 36. But, wasn't it already filled just a few bars after it happened (as shown in the pic)? Or am I missing something?

http://neotoolbox.com/charts/2011.05.19-ES-5minRunningTriple.png

Correct- Lorn has trips down pat...so still a valid target to consider