ES Journal - 2012

[DanS]

Out of long at 98

 

[keeptradin']

Quote from DanS:

Out of long at 98

Nicely played, DanS!!

 

[creekboy]

if we touch 93.50 there will be many happy shorts

 

[ammo]

Quote from ammo:

89.75 bid for reduce

flat 95.5

 

[trickshot]

Quote from trickshot:

I doubt this will happen today because the daily chart looks absolutely horrid, but of course with these markets you never know...

My guess is we have already seen the RTH highs/lows of the day.

Looks like the range for today is slightly larger than I thought, but still a very sloppy day nonetheless.

 

[trickshot]

Quote from tomahawk:

I think you're right, it wants to fill the gap.

What gap is that? On the SPX? But we opened and traded as low as 91.25 yesterday, why would there be any gap?

 

[tomahawk]

Quote from trickshot:

What gap is that? On the SPX? But we opened and traded as low as 91.25 yesterday, why would there be any gap?

I use settlement, which was 1400.50 if my chart is not mistaken.

fwiw, YM gap just filled. SPY, not so much.

EDIT: 1400.50 refers to ES, sorry. SPX 5/1 close was 1405.82.

 

[ammo]

1400 low 95 high rth

 

[trickshot]

Quote from tomahawk:

I use settlement, which was 1400.50 if my chart is not mistaken.

fwiw, YM gap just filled. SPY, not so much.

I see... but wouldnt there be gaps on nearly every trading session if you used only settlement? I've heard of traders ignoring upper/lower shadows in gap analysis, but never the solid body of the bar.

 

[tomahawk]

Quote from trickshot:

I see... but wouldnt there be gaps on nearly every trading session if you used only settlement? I've heard of traders ignoring upper/lower shadows in gap analysis, but never the solid body of the bar.

Yes there's almost always a gap at or near the open.