ES Wed 9-21-11

Don't forget that today is a Fed Day. Resources for today:

All fed rates over last 21 years:

The ES on the previous 113 Fed Days:
Got hit...oh well..
buying 1 @ 63.50
Careful, we're at the top of another level..
1158 is next support. Maybe overnight.
59/55 should be the next target..
Originally posted by prestwickdrive

Originally posted by prestwickdrive

Kools Tools use on news events tends to give decent inflection points so, fwiw, the initial move off the Fed's news was 1196.5-1182.25. That gives an initial target of 1173.5 and a full of 1159.25. Those projections are valid until 1196.5 is taken out.

73.5 hit and was good for a long scalp. Wish I had so much faith in it to have shorted earlier and held for it.

I thought 59.25 might be in play for tomorrow or during Globex. Wow!
I can't believe I didn't short 81.50 again..
need back VO :)
Bearish, bearish. Here it's 1158 before closing.
ES trading 1158.25 @ 16:00
Appreciate the sentiment but it's not about that. It was an event trade(earnings,fed,etc...) He/She who hesitates is lost.
No news. No volume. Price is always the leading indicator. :)
1998 was resistance. Didn't make it?
Stopped at 1996.50 I think.
The 1182 target was missed by a tick. Took about 4 minutes top to bottom. That was the event.
Correction stopped below 1189. Other levels represented in corrections/ pauses and 1260 exceeded. Extension.
This was posted pre fed announcement. The objective is to be right, in the trade, even if 98 was hit.

Originally posted by destiny

Originally posted by DavidS

Trade plan
1- shoots up to 1193.50 or higher to 1197, short as 1198 R level
2-drops below lod, go with it using 1189, 1187 as s/r line
1181-2 the 38%, target below that would be 1175,1171, or lower(1160)
above 1198 will reevaluate
between em all is 1193.50 key level imo and working good above and below so far today
1189 should have been a buy signal? there's a message there somewhere 1193.50 the key to me
maybe will muddle around in the area
Magic Beans!

You were right on the MONEY. CONGRATULATIONS.
using price as leading indicator
thinking overall down but subject to change my mind