ES Journal - 2012

[Macho]

Quote from Laissez Faire:

Good morning, traders!

Support below: 1308, 1307,50, 1302,50, 1294, 1290.

S1 1307, S2 1302, S3 1290.

Resistance above: 1320,50, 1321,50, 1322,75, 1326,50.

R1 1318,75, R2 1325,50, R3 1337,25.

Globex high 1316,25, 50% 1310,75, low 1305,25.

Pivot point and 50% level from yesterday @ 1314.

Gap fill above @ 1331,50.

Will watch these levels and trade accordingly.

If open around yesterday`s close and above yesterday`s lows, I will most likely be looking for a long entry, if price finds supporrt and then see how price reacts to the levels above. The pivot level and the 50% level may provide resistance.

Good trading, all!

Nice stuff, LF. Would be useful for some people lurking.

 

[Laissez Faire]

Quote from mastacoli71:

3 points is 3 points. It's all about the singles and here and there a double, triple, or homerun.

It is easy to forget the power of compounded growth from making small consistent profits and get short sighted.

Trying to go for homeruns have always cost me dearly, especially when I`m able to get them.

 

[keeptradin']

Morning, all. Looks like the unemployment numbers this morning really put a damper on the market. Should be a fun day...

 

[keeptradin']

Also, we have the Chicago PMI due at 9:45. Remember, this is the report that gets released three minutes early to "subscribers". Watching the charts at 9:42 will tell you what the nuber is. :eek:

 

[ammo]

spx micro channel

 

[Laissez Faire]

Not sure I want to initiate anything going into the release.

Initial support at the globex 50% and then resistance at PDC.

I think we slide down and test YDL.

 

[keeptradin']

Short @ 08.

 

[Laissez Faire]

S1 and a prior day low here. Could be support.

 

[keeptradin']

Quote from keeptradin':

Short @ 08.

Covered 06, +2.

Just a quick news play...tried to get filled at 10 but got away from me.

 

[Laissez Faire]

Globex low did not hold.

Down we go.