ES Thursday 2-16-12

42.50 - 44 is first resistance to go back to 38- 39 area...( lots of stops at 40.25 now )above is 47 - 49.25 for sells to use 44 as a target


this is a bracketed market still and all the volume this week is in this 42.50 - 44 so these sells are harder I think...safer sells are higher up in that upper zone

below the 38 area i will wait till I see trade under 35 to look for longs

sure seems like it's getting tired of going up but I hate that double high with yesterdays RTH high otherwise I'd be more agressive as this trend started too early...conflicts!!

revising target to 50.50...

Regardless of what happens the rest of the day, im thinking that due to sentiment, severly overbought indicators,Apples reversal,etc we might see two or three mild down days starting tomorrow... time will tell!

value area high players at 51.25 from yesterday are in my way !!

they don't usually just blow through the previous days vwap line without a test....lots of STUFF at 47.50...lets hope somebody else ( with a lot more money ) wants that test too..so we can take something off on the way back down

flat again at 52.50...gonna sit this out until new highs on the day

s 53...plan still in place at 55 if needed...multiple tries until we get one to work

What you may need is a good "Greek Tragedy", but that may no be in the cards today...probably a national holiday in Greece today, they have them quite often...

Me thinks we need a vol spike to end this short term

AAPL now up on the say seems to be fulling this

Originally posted by Dubya

Many Thanks to all the traders who kept shorting this market all the way up today and buying back above new highs..could not have done it without you....just kidding..the real credit goes to the Goldmans and Chases aand Wells Fargos of the world that make up 80% of the emini market..their computers all decided to pretty much go in the same direction today...and that I believe is educational...tomorrow is a new day..we will see what they decide to do tomorrow...I will leave the predictions to others...quite frankly, I am not that smart....

Less snark

More helpful input.

Do you ever post your trades as they're made?