ES Wed 8-31-11


The following chart is from Tuesday's market action. No single prints created or hit. The VAL was almost a buy price but the market didn't quite hit it.

Click image for original size
ES overnight 31 August 2011
  • 3
  • BruceM
  • 31-Aug-2011 at 9:20 AM
  • Rep: 216k
  • Posts: 19.9k
all 3 markets trying to bust out of yesterdays highs and may trap many shorts...what would you do if you sold that area and then the market came back to it...? U would buy to get out which would add to the buying pressure...so that is the obvious point to watch.....failure off those highs will target the low volume from O/N at the 1211.25 - 1212.50 area..... Lots will be trying to buy near here.

If we accept price above YD highs then the 1229 - 1230 becomes an area of interest for me.


Below the 1211 area is the 1206 area...

Good luck today..
  • 1
  • BruceM
  • 31-Aug-2011 at 9:53 AM
  • Rep: 216k
  • Posts: 19.9k
starting my hunt for shorts above 1226 ...there is low volume at 1222.75...
  • 0
  • Dubya
  • 31-Aug-2011 at 9:55 AM
  • Rep: 207
  • Posts: 74
Report in 6 minutes....
  • 0
  • Lisa P
  • 31-Aug-2011 at 9:58 AM
  • Rep: 6,498
  • Posts: 1,428
First Volume

Click image for original size
2011 08 310956
  • 0
  • Lisa P
  • 31-Aug-2011 at 9:59 AM
  • Rep: 6,498
  • Posts: 1,428
maybe pre-report - traders lighten up. Thanks for the reminder Bruce, I lost track of time
  • 0
  • Lisa P
  • 31-Aug-2011 at 10:17 AM
  • Rep: 6,498
  • Posts: 1,428
Volume

Click image for original size
2011 08 311016
  • 0
  • Lisa P
  • 31-Aug-2011 at 10:20 AM
  • Rep: 6,498
  • Posts: 1,428
I will short below that level
Click image for original size
2011 08 311019
  • 0
  • Lisa P
  • 31-Aug-2011 at 10:20 AM
  • Rep: 6,498
  • Posts: 1,428
small stop
  • 0
  • Lisa P
  • 31-Aug-2011 at 10:21 AM
  • Rep: 6,498
  • Posts: 1,428
around 1241 is a better short
  • 0
  • DavidS
  • 31-Aug-2011 at 10:24 AM
  • Rep: 3,181
  • Posts: 557
1229 target hit-see Monday posts
can go to previous low at 1236 area(or higher to daily 50 sma)
no sharp reaction yet
would use 1229 as pivot if exceeds
divergence is negative here
  • 0
  • Lisa P
  • 31-Aug-2011 at 1:47 PM
  • Rep: 6,498
  • Posts: 1,428
Sorry, today fingers are faster than brain and I put up wrong chart. Here is the chart I wanted

Click image for original size
2011 08 311346
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