ES Wednesday 2-1-12

A quick video of the numbers I'm using for today....and the reasons for them

I have singles 23.25 to 24.50

singles from 26 Jan

we are still at the edge of that upper bell curve from Thursday in Low volume...we don't wantto spend too much more time up here....

my concern is yesterdays highs and that peak volume from O/N is support...so basically us shorts gotta see this moving down now...

triples at 21.25, right above the single print fill level

I'll be surprised now if they don't run that ledge into our air pocket...lots of stops under 21.25...hoping that runs before the hour high gets taken out

breadth and volume ratios very high...we may need to sell higher...as it seems they want that hour high...

went flat at 22.25.....this is too risky as volume can surge and blow us away either up or down and I don't want to get caught on the wrong side....

this all just comes down to who gives up first....the patient sellers or the breakout buyers....

now triples at the higs as well...would be great if they can take the highs and then drive lower to take the other triples and fill the single prints

Sideways in an up channel tends to favor the up side IMHO....a drop to 1320 still leaves us in an up channel while I have the top of my channel drawn in at 28.50.looking for buys around 19-20....again just one persons view...

welcome to the forum and thanks for the good words!!!

Originally posted by sharks57

Bruce,
First time responder to the site, have followed you on this site for some time. Your videos recently are extremely helpful. Took a long with you today after several stop outs prior, looking forward to your views and those of others. Been trading for a year or so but not profitable YET. Took an mentoring program with Andrew Menaker to help with not pulling the trigger, got past that now trying to use my charts to better understand the markets. Again, thanks for your insight.

sharks57