anyone trying shorts??

Up here at 845 ES....S&P is holding back this rally today...where the HECK is my plus or (hopefully) minus 8 - 10 range? has everyone gone to 24 hour trading???

thanks MM...if we can take over the overnight hV # at 911...then they'll try for a symetric move above and below open at 907.50.....you remember that was yeaterdays key...we don't want a 30 miunute close above 915 as that is near open and the "single prints"

i still think they want the 896 retest ....but how greedy can we get?? other key area is 901 - 903 to watch out for

Hey Joe, I'm looking at this day as a failed break of the Wekly IB..much like I would when we can't stay above a 60 minute range....

seems like two options...

1) the market will go below Mondays low the same amount it went above Tuesdays high

or 2) we just consolidate without closing above the Tuesday high

just my two cents.....either way I'm not a big fan of the long side but hope it works out for you and those who are long

quote:

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Originally posted by CharterJoe

I agree...I go with the flow on mon-tues breakout and even better on tight days/ranges still long the 899.5...On the laptop for a couple of weeks, doing some fishing, relaxing, playing with the kids and playing some blackjack (and doing well SO FAR). I really needed some time away from the markets.

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Thanks for the advise. I am not large long as I am off from trading, just trying to stay in touch with the market. I don't want to make 0 trades for 2 1/2 weeks and then come back trading like I was. Also one thing about posting trades is that its not always what it seems, I don't post all my trades. Some days I post what seems like a great trade but it off sets other losers I had running, other times like this past short I made nine points due to a great 30min RSI setup but I feel that If I don't post right away some would think that I am just doing after the fact analysis, but trading comes first, posting second. When I am scalping I make 15-40 hits in the NQ's and ES which would be a enormous amount of effort to post them all...I would rather post how I came to make these trades day after day as per the RSI thread, mini IB, and the MACD thread I have discussed my setups in.

Any way I am way off topic...
I think 1) is more likely but would rather see door #2. On the daily RSI 53.5 is VERY strong support and we are close to that with a close @ 55.6. I am looking for Thursday down and Friday up which will look like a large <N> on the weekly. and the longer term (2 weeks) I think were going to be boxed from 930-890 level and I am betting on a break to 965 by mid June which would give me the right to exercise these SPY calls I have been sitting on for 9 days.

hope that goes your way...I'd like to see a longer term up move begin too.....Larry Williams thinks that the top here will be in by May 28th if you follow his stuff...lol...and then rollomg over down ....for him the 09 of years are bad years....like all of us , he gets it right occassionally ..Like this last up move....

Please don't ever feel obligated to post your trades......I'm glad you post what you do and others get great educational value (Which is what is should be) out of them.....the trade always comes first......this isn't a charity...we have jobs to do....glad your getting time to recharge

Bruce

there is that gap fill on the one minute I mentioned from Mondays low.....that was suspect but obviously hard to get too......this is setting up to be a very interesting day..another gap at 82.50 but I have no ammo...909 - 911 goes on the radar for any future up move as that was the highest volume from Wednesdays trade...a two close reversal on the daily chart to create a down OVB....further gap way down at 850 area...certainly doable in the near term as this consolidation unfolds...S&P's are very efficiant ...sometimes!!!...LOL

with an open of 89.50 any good long will target the plus 4 - 5.5 at the key zone of 895 ( overnight HV area too)

Have 94.25-95.50 as potential resist area with price action S/R off daily chart and Wkly PP ... sitting right in that +4-5.5 range.

The +8-10 zone would put it near cluster of intraday lows and daily close/low at the end of yday's session on 5 min chart ... 899-900 area, if we get there ... would be closing the gap.

triples sit at the lows...not the best way to put in a significant daily low.....I'm trading to assume it will be retested sometime today

if the sellers can't push this 2.5 points below the 82.50 number then we need to be on our guard for snap back rally to end the day and go close the gap..I'm trailing my stop tight if triples get run but won't be on the reversal long if it happens......I'm just not nimble enough for that...if sellers win then 76-77 area is next key..$ticks not showing many buyesr down here so far...should get those triples

Just about perfect - perfectly wrong that is!