ES Thursday 2-2-12

Numbers for today:

1327 - 1329

1321 - 1323.50 **** vwap in here and Low volume spot yesterday

1318.50 **** high volume

1314.50 - 1316 ****** key ledge support...possible breakdown point

1311.75 LV area

1306 - 1308

many numbers are part of yesterdays numbers that never came into play as per the video.
watch segment count and "w" pattern
looking for sells above 23.50 now
Volume, though not great

Click image for original size
2012 02 021013
nice structure today even with such limited range...first we have context which is the fact that we are stuck inside the O/N range and yesterdays day session range...

then we had 4 lower lows and the reversal up and now 4 higher highs and the attempt to move lower...classic consolidation so far...working on the "W" pattern

cool thing for me is seeing how they are working on filling in that low volume area I mentioned in yesterday afternoons video.

Limited opportunities so far though and volume is dismal. next sells will be attempted above the hour highs if they can push that out
all the volume from these two days sits at 22.50 so that becomes th emagnet now...looking for shorts above the hour highs
s 25.50.....will they push the plus 4 ? hope not...targeting 23
every 3 - 4 higher highs they have been selling lets see if they do it again on bar 5
gotta test and get back below hour highs and soon or else we need to get out for the loss or scratch
trying to get to 23.50...damn ranges...!!!
24.25-24.5 trying to outvolume the 22.5 area here (when combining profiles for the last two days, of course)
My data had the gap close 1321.....I donot like to trade in the middle especially as a day wears on......My specialty is a fader at extremes...the middle isn't an extreme to me...this is not only in the center of a two day range but also inside the IB

with volume tappering off I don't think any down move now will go too far but I'm not trading anymore today. Who knows if anyone is gearing up in front of tomorrows 8:30 it's risky to me..

I never studied Elliot and most of the posters I've seen have not been consistent on forums regarding it. No offense...if you know it and can use it than please post about it .....the "old" Bruce would fight and argue and bash elliott....the new bruce is open and receptive to all....

As I type I see triples up above ( not trading for them)so that to me is even more evidence that a down move will not stick now but if u r short then I hope it keeps dropping for you..