ES Journal Archive (2011)

Status
Not open for further replies.
Quote from volente_00:

added at 94.5



93.5 and 89.5 resting orders

Nice one!

After reviewing my breadth readings, I think the intention is that someone is telling the shorts - don't f$#k with your government intervention program. =)

:cool:
 
Quote from cashcarewins:

I don't think that matters unless there is some volume confirmation, which we don't have.

Personally, I am looking for short setups around 1298, that is the 3 day low (we are upside down from there) and the overnight low. There is also plenty of time for that to work out. Probably high volatility in last 15 minutes today.

Volume is not needed for non-confirmation breadth readings like this type.

Actually light volume works in favour for this type of signal because those who choose to trade the thin volume on the wrong side are also weak hands that can be forced to cover, producing the desired effect to blown thru closest support/resistance levels.
 
Not too much of a gap to fill. Maybe it`s "close enough".

Target for the day would be 1315. 100% expansion of yesterday`s range and a gap fill.

Might look to enter a long on a pullback to 1300/1302.

If that does not materialize, I`ll just follow along.

AH high 1304,75.
AH low 1294.
AH 50% = 1299,5.

Monday`s 50% is 1297 and PP is 1298,50.
 
The gap is bigger on NQ and YM, so we might see a gap fill there dragging ES along.

But ES looks like it`s heading higher right away. That or trapping early longs.
 
Could have shorted the top, but it`s too late now I think.

Wait for a bottom to form and enter long.

First stop would be 1302.

Potentially 1300.

Or even a PP tag below.

Not sure we`ll head any lower than that for the day.

NQ gap is filled now and YM soon.
 
Quote from eudaemon:

1240 is now a 99% given within 2 weeks. New year highs are a low % fantasy for the next few weeks at least. Tactics-tactics-tactics. Tomorrow is TDAY...

good call on the drop are you saying the market has topped?
 
Status
Not open for further replies.
Back
Top