ES Thursday 1-9-14

Here's an updated daily profile chart. the top red line at about 3350 is the area I identified as the top of the balance as of yesterday morning. As you can see we tested the top of that level several times, topping out at 3475, also Tuesday's high. Then in the overnight we have a clear DD with the valley right at that 34-35 level. I believe we moved up on Euro comments from Draghi. So the question, in my mind, becomes do the bulls protest that level and move up, or do we drop back into the previous BA?


The second chart shows a relatively current 30 minute. The top line I have snapped I moved up from 3350 to 3475, given the recent highs from Tuesday and Yesterday also the LVM created by the move above that level. Below that I adjusted down from the 2975 to the LVM at 2800. I would like to see the test of 34-35 for a move higher, otherwise I think if that fails we revisit 2800.

Well there's our 2900 and 2800

I have 2725 as daily S1, IF that gives I would guess 24.50 is in play. I just can't find a place to get on the Bus:)

And there's 2450 NVPOC. And YD low taken out. Good place to bounce. Never got a shot off on the short side, Bummer. Two sets of singles out there, above that 2800 may get something going long,.

We do have a Gap left at 2050, If thery're so inclined.

14 Handle range so far today. Volume increased in the second two 30 minute periods which is interesting.

2800 is doing it's job, if we can break above that, I think it'll go back to it's happy place aropund 3150

Well nothing good happens between 12:00 and 2:00 IMHO, I'll check back later

I see we got the move back above 3150 over lunch. Not a great time to trade for me. It's only a good call if you trade it IMO. Since we retraced to 2600, Tueday's low and started to rotate back up. On my 30 minute I have a cross of the 26EMA(Blue line) over the 50(Red line) which to me indicates continued downside. We'll see.

Short from 3175 with a short leash

Flat on the move into singles, Bummer

Had my EMA crossover theory and tried to get short on the retrace to the 50, obviously didn't work. We'll see if my crossover was a fake out or not.