ES S/R Map for 11/5/09

On the gf's computer once again ... but after watching price action during the session today and looking at charts on multiple time frames ... this is what I distilled down as potential significant price levels for Thursday. 1047-1047.50 is a "minor" area (should have noted that on the chart).



Hope this is helpful ... and open to feedback and analysis from all. Let's share some ideas here ... good stuff!

now THAT's funny ... because I had a limit sell for 4 @63.50 that I ended up cancelling ... a tick or 2 can make all the difference sometimes (actually a lot of time I think)

this 20 minutes before the bonds go off is the worst time for me...they gonna shake me out before they get my 57.....Hey MM...did I ever mention that I have a gold top les paul...perhaps I did.....don't getto play it much...the kids and my wife prefer the acoustic/electric Ovation......in acoustic mode only..hate this low volume....cause somebody gonna sneezy and market will take off.....down I hope...that reall suck cool...62 was the number I mentioned when I responded to your merge profile comments.....thay now we are down here waiting to fill that gap....oh the suffering!!

gheesh..freakin micro gaps.......killing me....

that happened to me yesterday Kool...was trying to get out at 47 I think...market missed by two ticks and I got stopped at 48.50...gave up a point to try and make half a point....happens way too much ...front runners ...can't they just be patient like the rest of us...

Yeah Bruce, think we may have mentioned guitars (not sure) on another thread months back. My first was a burgundy Les Paul Custom I bot new around 1980 ... still in sweet condition. Also enjoy the sounds I get out of my Ibanez Jem (blue floral pattern) as well as a middle of the road Charvel. On the acoustic side I've still got my first guitar, a Yamaha with some good wood on it, good sound. Picked up a vintage Martin a few years back that had belonged to a friends father ... get some really cool unique tones outta that 'un (but I try not to play it too much) ... and now back to our regularly scheduled programming.

Finally was able to short @63.50 ... 2 off @62.00 ... stop moved to 63.00 an other 2. Typically don't like afternoon trading much ... I seem to not have as good of a win/loss ratio. We've stayed in a pretty tight range trade environment for a while today so chose to fade the earlier high which was in the 63-64 zone of potential resistance ... also coincided with a $TICK reading around +1000 ... just moved stop to 62.00 as I'm typing this while bidding 61.00 ... bailed at 61.25

Btw, I'm sure you've gathered that the majority of my trades are scalps with a low tolerance for movement against me ... will often try to scratch and re-take the trade if it starts to look good again ... though I miss some moves that way too.

Anyway, love those gold top Les Pauls Bruce. A shame the old man died a few months back. The history of electric guitars is interesting with his and the Fender Telecaster (I think) being the first to change the way music was made ... worth googling to read the history ... my ears are still ringing from that AC/DC concert on Monday.

Wow,they really know how to hurt a guy!. fisrt they one tick me,knowing i have to get a few hours sleep before work tonite. Then as soon as i leave, they take it right up to my objective (1063.75)and on globex, a couple ticks more as i hoped, indicating they really do want 1073 or more! ...ROLLING STONES FOREVER!....

TOMORROW IS UNEMPLOYMENT DAY!!! And something to keep in mind. This could be one of those days that drives newbies wacky!...a small decline into the report, then great unemployment news comes out , causeing a pop back up to 1073,or even 1076.75!!! Then just as suddenly the market reverses as everyone remembers that Bennie and the Feds just said they wont consider raising rates till unemployment improves!! Remember? so perversly, they then decline the thing the rest of the day!!! lol... just thinking out loud!..but i wonder!?!

Closing ticks over 1100!!! That usually indicates a big decline due to start within 2 trading sessions!That would be between now and the end of Monday, right on the middle of the Bradley turning point dates!!...Interesting!!!

quote:

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Originally posted by koolblue

TOMORROW IS UNEMPLOYMENT DAY!!! And something to keep in mind. This could be one of those days that drives newbies wacky!...a small decline into the report, then great unemployment news comes out , causeing a pop back up to 1073,or even 1076.75!!! Then just as suddenly the market reverses as everyone remembers that Bennie and the Feds just said they wont consider raising rates till unemployment improves!! Remember? so perversly, they then decline the thing the rest of the day!!! lol... just thinking out loud!..but i wonder!?!

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The reason for the chop is that good data (good for the indices) has been triggering the purchase of U.S. bonds to offset a declining dollar.