Monday 12-10-2007


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  • pt_emini
  • 10-Dec-2007 at 7:52 AM
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Light news day today (home sales)

Fed announces interest rate policy tomorrow (Tuesday)

relatively flat open indicated so far...
  • 0
  • pt_emini
  • 10-Dec-2007 at 9:34 AM
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overnight resistance zones:

ES 1514-15

NQ 2141-42

ER 789-90
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  • BruceM
  • 10-Dec-2007 at 10:06 AM
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i'm in from 15.75..trying for 13.50 on short side..this could easily run away up...I have short goggles on though
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  • pt_emini
  • 10-Dec-2007 at 10:07 AM
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so far we have filled the small gap open and are trading higher with the notable exception of the NQ which may be forming a lower high right here, if so we have a divergence
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  • pt_emini
  • 10-Dec-2007 at 10:11 AM
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shorted the NQ's at resistance
  • 0
  • pt_emini
  • 10-Dec-2007 at 10:25 AM
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covered short NQ +2.25
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  • pt_emini
  • 10-Dec-2007 at 10:57 AM
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NQ testing overnight highs, ES stalling with a slightly lower high, ER2 relentless
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  • BruceM
  • 10-Dec-2007 at 11:10 AM
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i had to add on hour break out and 16.25 is now target..18.50 was fill on add on
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  • BruceM
  • 10-Dec-2007 at 12:10 PM
  • Rep: 216k
  • Posts: 19.9k
I wouldn't be surprised if they go back down to clear out the stops from all who bought the narrow range bar off the daily chart in the emini SP...they already smoked those who where buying the 60 minute breakout..trading in single prints down at this 16 area
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  • pt_emini
  • 10-Dec-2007 at 12:33 PM
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given this narrow range since 11am, this could break in either direction... 60 minute chart points higher however.
  • 0
  • BruceM
  • 10-Dec-2007 at 1:32 PM
  • Rep: 216k
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i think if this up triangle breakout fails to acheieve target then they may go for the 1513..seems volume drying up on these pushes up....weekly pivot below at 1495...dow was leading that drive out..testing the triangle breakout point now....so buyers need to show themselves...
Today's action with the developing value areas and point of control for the ES on a 5 minute chart. Some Market Profile observations from today: Developing Value Area High caught a short later in the day and the Single Print caught a long with very small stops.

Click image for original size
ES 5 minute chart with developing value areas for 10 Dec 2007
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