ES Tuesday 11-15-2011

Yesterday had the lowest daily volume of the year and overall it was essentially a neutral day with a downward bias.

It will be very important to observe where we open at 9:30. Right now prices are at yesterday's RTH low. If we open above it, this will be first support, if we open below it this will be first resistance.

Yesterday's O/N action had trade above Friday's high but RTH never traded near those numbers. Now we have O/N trading below yesterday's low, will be interesting if we get a repeat but in the opposite direction. Just a thought/observation, not a strategy on my part.

I referenced your post in the fib thread and noted lack of liquidity can affect movements(higher). I also had an O/N low that matches yours but they are saying the O/N low was 34 fwiw.???

1234, yes that is what I have for the O/N low.

Originally posted by DavidS

I referenced your post in the fib thread and noted lack of liquidity can affect movements(higher). I also had an O/N low that matches yours but they are saying the O/N low was 34 fwiw.???

Lay of the land. We are in yesterday's VA - so choppy.

Lisa is correct. One of these 60min edges needs to be challenged or else its just going to be chop within this value range. Until that happens I suggest any trade have tight risk control and smaller targets.

I have 11/11 close as 1259.50 - not too far

my other chart shows that close at 1261.75. Someone, please confirm

pullback to LV node

POC taken - mission accomplished

Micro view.1253.25 (LV node) is a target for tomorrow, if we pull back