ES Friday 2-6-15

Bands for the day. Good luck to all.

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a closeup of the upper lines from Dec 31

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we have now stopped one time framing higher but we do not want this to go beyond 66.5 so that we can then start one time framing lower

so far the market is having a tough time staying above the O/N high
yes, that's good in theory but look at 12-31 for example...the poc was at 2077.25 and made in the first 3 hours...then we sold off the rest of the day without the POc migrating be careful about all that stuff......I'm not saying u and dalton are wrong but it doesn't always work like that....many expect market to return to value and it doesn't....better odds of some kind of mean regression in the first 90 minutes then the rest of the day IMHO.......many on 12-31 would keep buying looking to return to the poc that didn't migrate.....u will see MANY days like that...and they would have lost big time..
Originally posted by NewKid

basically you want the POC to stay down there and not migrate up. that would be a negative for the bears. this is something that Dalton stresses quite a bit on
in 3 minutes the poc will migrate up ( probably to 65.25 ) but that doesn't mean we are accepting price higher.....we may just be having trouble going higher.....!!
I am asking anyone out there...
What is the saying Dalton has about Back to Back poor Highs?...

Does he say that back to back poor highs increase the odds EXPONENTIALLY for what? to fix the poor highs or to signal that the short term market participants are TOO LONG and prices have to break lower before they can move higher?

I'm serious, I can't remember whether back to back poor highs create odds that they get revisited (and put in a proper selling tail) or that they can precede a break.
this all seems too orderly...that ledge at 63 seems to me like an obvious magnet ...the "P" pattern yesterday didn't have matching lows just above it's LTN zone...the one at 62.75
lockhardt speaks at 12:45 so if u don't have runners or profits to literally gamble with then I would stay clear of this until later if u must trade.....this is getting more and more tightly somebody will be hanging on his every word..
Where's NewKid?

first 30 min VPOC prints

where are Daltonites to reply to my question above.
I had a greenie at 59.50 also
selling might have been helped by S&P downgrading Greece
daddywolf, see the attached picture. i was referring to today's MP chart. Look at periods H and I. I came within 1 tick of H's low and rallied back to out of YD range. It tested the critical 61.25 level, made sure there was nothing there and came back to repair that poor low in the K period. We were in the J period when I wrote that post.

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