ES Monday 11-7-2011

Here is Friday's Vprofile on the right and Thursday's on the left. Pretty clear to see where prices reversed based on Thursday's LVN's.

Friday was a neutral day defined in MP terms. Dalton writes "we recommend that you trade with any directional auction following a neutral/balancing day; when markets come out of balance, there is always at least a short-term opportunity to take advantage of the ensuing auction."

1244-1245.50 is an important LVN as prices jumped down and up this zone followed by a support pivot in late afternoon.

Highs and lows are the other two obvious zones from Friday's trade.

For those traders who use Twitter I usually tweet the daily ES trading discussion after it's been started. You can get the location by following http://twitter.com/mypivots on Twitter.

If you're on Facebook then you can get the link by liking: http://www.facebook.com/mypivots.fan

Hope everyone has noticed the current O/N high and low has respected Thursday's RTH high and low indicating those LVN's are still important.

Lisa was there any vol up there at the 54 55 area this morning before the sell off down to this area

Della, no big volume, not even a medium volume, 2-3K or about that

Largest volume today at about 10

Macro view. Of notice
1 we are backfilling a thinly-traded area
2 single prints above

singles filled

Russ hasnt broke this morning