ES Wednesday 10-30-13

most important areas to me....

current On high and R2 and O/N vpoc 1772- 1773.25.....I'll be selling into 71.75 anytime after 9 a.m.

weekly R2 and yesterday close and highs 1767.25 - 1768.50...I'll be buying into this anytime after 9 a.m but will need to see 67.25 print again in O/N session first...not 68.50

VA high, daily pivot, O/N low and POC 64.75 - 65.75

Current O/N midpoint is also close to R1 today...I am using that as a target only in RTH...midpoint should print today in RTH
bell curve traders will look at Nicks charts and notice the double distribution which is nothing more than one bell curve stacked on top of the lower bell has 61.75 - 63.25 as the center and upper edge of lower bell
Good to hear from the old gang, i wonder what ever happened to pt emini? As to the market.. this decline this early on fomc day surprises me...not the decline but i would have thought they would slowly work it till closer to 2
so oviously you don't want to see this much below that 61.75 center if at all !!...failures here will push to the 59 area on the charts...not trading it so just pointing it out for anyone studying bell curves
any good push up would need to be careful of 63.75 - 64.50...good luck if u are on it
a look from my laptop of what a non mp/ volume profile trader might see....just the same stuff ....
Click image for original size
so the basic battle will be to see if the LVN from the upper bell becomes resistance...if so they should push to the 59..otherwise they will try to push back to center of upper bell

classic bull/ bear battle
and much more enjoyable to just watch !!
looks like the bulls won that one for now.......anyone interested in the bell curves should check out these free videos when they have time...Even though he was young this guy was the granddaddy of the bell curves and the first one who really put the bells into useable form for the larger trading community in my opinion...........many vendors and brokers have taken his terminology and ideas......basically one of the first courses that really explained the ideas better than traditional MP....and the course was only $250....I am speaking about the course from Frank Butera called balancetrader.....the website is no longer active which is a shame but here are some free videos that some will find interesting

there are also some sites that seem to have uploaded the course material too

you will see an hear the obvious influence he had on me I am posting this to make sure Frank gets credit as many steal ideas and then never seem to give credit where it is due....I don't know where Frank stole this from but he was one of the people who started explaining it well
thanks for the videos link Bruce, I love learning about this stuff!
I have 53.50 and 50.50 as downside references
sorry for the video PT but typing that out would have been too complex for my simple brain........also what is fisher indicator...? I will search on line for the answer too....don't expect you to do ALL my work..
No video below? Try this link: questions_for_PT.swf