ES Monday 2-3-14

two quick pics of the zones I think are most important...it's too early to confirm prices or come up with a plan but we must be mindful of that 80 area...that is also where a lot of time was spent last week...a week in which showed signs of balancing....now the key question is are we balancing to make a new leg higher or are we balancing to show acceptance of lower prices to sell off....? I don't know and too long term for me.....Where we open today in relation to fridays VA will be important and give us some clues to see if we are to remain in balance still


one chart is the time composite and one shows the day sessions with key zone of friday and above and below...essentially the same areas

Duck, u r buying the beer today !! well done !! this 61 is a previous O/N low and key spot...I think they will buy it and try to go test the 64 - 65 area

i buy the 61 exit at 62.25 stop 61.25

now out wont buy again till 56.25

so once again if buyers are wrong then the 57 area would be next...otherwise they go get our 64 - 65 zone if real lucky the buyer will go get single that is forming up at 68 - 69....

trying one last small trade off this 57 area...try to target the 61...and a runner for 64...we need to keep in mind that we look to be trying to break out of a 5 day balance of last week...so keep the context in mind

beer cost alot in the north..lol..how about timmy coffee..lol

I consider that a blow through of the 61 because there was not much of a raction there...so more likely to retest....I hope !!

Originally posted by BruceM

I don't know if I would consider that blowing through because we did get a 4 point pop up off the 69 the first time it came down to it today bkay... just not sure

I was looking at the first move as support, with that bounce, and then on the flush we went from 69-6750 in a flash. I thought it might be a good place to retest. Moot now for the time being.

gonna watch the IB low break if it happens real close as that would be happening probably close to our 57 area...it would be nice to see a failed break but no doubt the sellers are winning this....not even sure where next zone is.....gotta drag my chart over..I think the 53 - 54 would be the next zone

Below 57, my next line as at 52 going back to early Nov.

thanks for posting that ETM.....hard to beleive we have 3 sets of singles on the charts...lets see if they can get at least one cleaned up before days end...closing out my calls at single fill or days end...these weeklies have so much decay that holding overnight is not wise