ES short term trading 4-22-10


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  • koolblue
  • 21-Apr-2010 at 6:04 PM
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Click image for original size
update daily
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  • ak1
  • 22-Apr-2010 at 9:24 AM
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The only trade I see is buy Overnight low and sell 1201 or viceversa
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  • PAUL9
  • 22-Apr-2010 at 9:26 AM
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94 area has additional importance, Steenbarger once did studies handicapping gap fills. He uses .4 times 5 day Average True Range as breakpoint, open down below previous day's close minus forty percent of average True range and chance for no gap fill increases.

today, .4 times 5 day ATR subtracted from yesterday's close is 1193.86.

BTW, Steenbarer announced closing of his blog.
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  • ak1
  • 22-Apr-2010 at 9:27 AM
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Dow is very little weak than sp
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  • i1hunter
  • 22-Apr-2010 at 9:32 AM
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G.M. Gent. Great charts and comments. Thank you!
Some of the objectives I'm looking at today are: In the outside 1199.00. Downside 1185.00. They are basically S/Rs in the 60M chart.
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  • phileo
  • 22-Apr-2010 at 9:36 AM
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can this thing just retrace a little please? I'd like to get short, but price has just zoomed down right from the opening bell....
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  • BruceM
  • 22-Apr-2010 at 9:37 AM
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added at 89.50 print..this gonna be tough....
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  • phileo
  • 22-Apr-2010 at 9:41 AM
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potential TREND Day down.
Now I know why some traders hated trend days.....
It just never retraces enough to a level where you can get a low risk entry......
  • 1
  • phileo
  • 22-Apr-2010 at 9:45 AM
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5IB was 6 straight red candles on the 1m
i had support 1188.5.
normally that should work for a bounce on first touch.
When it starts to fail like that, I'm thinking trend day.

does anyone have a position on currently?
  • 0
  • BruceM
  • 22-Apr-2010 at 9:51 AM
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yes and need 91.25 to do ok on this ....rough ride
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  • johnpr2010
  • 22-Apr-2010 at 9:59 AM
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I am in on the S1 88.50 and waiting my targets to get hit.
  • 0
  • redsixspeed
  • 23-Apr-2010 at 12:56 PM
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Originally posted by redsixspeed

1213.00 on the radar..
..



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SPX hit 1213.42 and we have stalled
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