ES 11-2-12

good morning

volume came in at 28.5-29 after the unemployment report so that should atract prices early on (we just tagged it from above)

above the current o/n highs (and lvn from 10/19) i have 33.5-34.5 and then 36-36.5 with 38-38.25 as the vpoc of that 10/19 profile

below we have yest rth at 25, and then lots of traffic in the 20.5-23.25 area (yest vah, vpoc and time poc are there) and 17 below that

good luck

i should add that 25-26.5 is a lvn created after the 8.30 report so that whole area is resistance initially

only thing I can add is that we have a gap at 30.50 and a low volume area from 10-19 at 31.50 so O/N high goes well there...


for me I have a magnet price of 1426 and yesterday the magnet failed...so that is my main focus..

my options work has identified 1436 as a key area so I am using 34.50 - 36 as area above the O/N high if that happens...but for now it is 26 as my target price to print..

didn't mean to duplicate what nick said..sorry...starting from 29.50 today and keeping it light as we may chop around up here first

This first comment is really minor, but...
I suppose it's a matter of interpretation, but with price above the 26.5-25 LVN, wouldn't that be Support (I can understand saying resistance to move lower, too, but...)

Thank you for taking the time to explain the price levels you mentioned.

I don't know whether anyone looks at gaps or cares but, on 10/23/12 ES gapped down, leaving an unfilled gap up to 1430.00 (4:15Close) and that has been filled but potential for retracement to 23.50 (gap UP created today) can't be ruled out.

Thanks for you comments, Nick.

i really want them to keep this under the current developing midpoint..to get our magnet price below

sorry, meant support...too early in the am for me to be writing comments !

Originally posted by PAUL9

This first comment is really minor, but...
I suppose it's a matter of interpretation, but with price above the 26.5-25 LVN, wouldn't that be Support (I can understand saying resistance to move lower, too, but...)

Thank you for taking the time to explain the price levels you mentioned.

I don't know whether anyone looks at gaps or cares but, on 10/23/12 ES gapped down, leaving an unfilled gap up to 1430.00 (4:15Close) and that has been filled but potential for retracement to 23.50 (gap UP created today) can't be ruled out.

Thanks for you comments, Nick.

taking off at 26.25 and holding two......

anyone who listened to the FT71 webinar yesterday heard him mention that 96 % of the time the O/N high or low gets broken....he's been using that statistic for one year but we have had it for at least five years..so he is stealing our stuff ....again..LOL !!.

I credit it to Dr. Brett so I want to make sure the source gets credited and everyone knows who I stole it from...


"failure to break a range targets it's midpoint" that is another critical view of Dr. B's !!

I'm trying to get the close gap below at 23.50 but will monitor when within a point of target

just pulled one off at 24.25..now holding one...this is an open drive and so far great for us shorts but no great stop loss point for last runner

I'm going to try to hold this last one for the O/N low and will watch the developing vwap and midpoint....this is tricky with only one and we run the risk of giving much back ..for now I will watch the 27 area and any attempt to come outside of the highs from yesterday

based on my options research I had a volatility band at 1408.50.....google haggertys volatility bands if interested or post here ..this is one standard deviation down from Thursdays 4 pm close