ES 10-16-12

Weekly R1 not mentioned is 1443.50 and another Vpoc up near 1448.50 - 1450 just in case they keep pushing..prefer the 1439 area as a magnet first though.. ..1437 - 1439 is also first critical support point
No video below? Try this link: tues_10-16.swf

well, we got to that full extension after all, and we did not even have to twait that much to get to it

Originally posted by NickP

and the 45.5 area was the 61.8 extension of yesterday's rth according to paul's findings there is an 80% chance that we hit the ful extension at 51 (i hope this one is part of the 20% group lol)

short from 46 and covered some at 44.5 and don't like the prospects for the ones left so tightening stop

i have 47.25-47.5 and the 48.5-50 area above, that matches bruce's #

ib close approaching and it feels they will want to break it higher

i think big mike mentioned that on unfilled gap days a break of the ib in the direction of the gap usually is good for a couple of pts after the break (correct me big mike if i am wron, if it was u of course who mentioned this)

On a day like Tuesday (Bear trap and squeeze) I think the VWAP for the day is the critical factor. On Tuesday, every time the VWAP was tested, buyers emerged (bears with short positions established over the prior 3 trade days who wanted to exit?).

Maybe some day I will write code to get the RTH intraday print of a Monday extension up .618 and see whether VWAP is critical support for an extension to full extension on that same day. I know I used to use the H of the previous day as important support for a shot at full extension once the 618 extension had been printed. maybe the vwap is more important.