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ES Wednesday 8-27-14

I'm making a case for the short side but not sure if it will work out and the Overnight midpoint.......also some brief vix thrown into the technical stew !!
No video below? Try this link: wednesday.swf

one last thing I should mention is although the value area built higher than monday we closed back inside Mondays range, the IB of today and the value area for today...also below the midpoint of todays session....usually not what you'd want to see for bullish follow thorugh
a 3.5 pt overnight range. amazing,... betcha the RTH range is larger LOL Un real.
Here's something I found interesting... Gap Guy video today, he pointed out the daily swings in prices (he looks at a 5 minute bar) and noted that Tuesday and Monday had very similar patterns. The morning went up and then price retreated and spent the rest of the day in the lower half.

GG attributed the early swings up to shorts forced to cover, but once they had reluctantly covered and price had moved higher on their buying fuel, there was no one really interested in getting long at the higher prices...Dalton would say that the market was too needs a break before a rally to shake out the weak handed (short-term) Longs.

Bruce's observation of the location of the VAs and the close of the day are the same observations...
Who put the stock market to sleep???
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