ES short term trading 4-26-10

I'm not sure if we want a different thread outside of the Weekend preview for the current day but here it is anyway.


We have daily and weekly R1 levels at the 1224 area which goes well with one of Kools targets and the key number of 1225.

Fridays lows match up well with the weely Pivot and the daily S1 so 1202 -1200 needs to go the radar...another key number.

More current is the O/N low at the 1210 as that was also a low volume area from friday...I'm looking to get that run out today...the 1206 area was the other key breakout point

So far barely a 7 point range in the O/N so will be watching the open in RTH and the midpoint...I'll update later closer to the open...no time spent at 11.75 in the overnight so an obvious first attractor..and it currently sits just below a swing point....I think they will run that out..

Now Dow has made a new high but not SP so a high of 1217 is on the target

Good call Bruce your 11.75 is the low tick of the day

Thanks Rich..I'm showing 11.50 as the low but you get the point of LV from ON as targets...so many numbers today so we chop until some volume jumps on board


Just an FYI...I posted that trade on the weekend thread and the reason

We have a small triangle on the 5m chart. Projections: To the outside 1217. To the down side 1207.50. Target time 12:30

Originally posted by ak1

Now Dow has made a new high but not SP so a high of 1217 is on the target

Moving to the outside towards Bruce's 1217.00 and making a small 5W in 2min. chart so far so good. 2M chart support trend line will be violated at 1214.00 or so

Originally posted by i1hunter

We have a small triangle on the 5m chart. Projections: To the outside 1217. To the down side 1207.50. Target time 12:30

Originally posted by ak1

Now Dow has made a new high but not SP so a high of 1217 is on the target

here's the big question haunting me right now: Is the prior week's H (1213.75) acting like support or not? (If prior week's H acts like support, dat's bullish). I don't know.

This is a stubborn market. and right now, I don't like the way the NQ is not in lockstep with the ES (I don't watch the YM, maybe I will start after seeing all the comments here)

If 1213.75 area is support, 1217 likely, but right now, NQ looks like an albatross around the neck of the ES.

I was interested to see that 1207 was mentioned by someone... 5 day average of L versus Open comes in today at 1207.50. I have noticed that after 2 days of hitting or exceeding (at some point during RTH sessions) the 5 day average of the H versus the open, that the first print at the 5 day average of the L versus the Open is usually good for at least a bounce (if not the beginning of a new leg higher).

Friday and Thursday both exceeded average H versus Open.

5 day average of the H versus the Open comes in today at 1221.75

I have 1.28% at 1217.75 and 1.618 at 1219.75. So far so now trading at 1215.50....Go! go1 lol

Originally posted by i1hunter

Moving to the outside towards Bruce's 1217.00 and making a small 5W in 2min. chart so far so good. 2M chart support trend line will be violated at 1214.00 or so

Originally posted by i1hunter

We have a small triangle on the 5m chart. Projections: To the outside 1217. To the down side 1207.50. Target time 12:30

Originally posted by ak1

Now Dow has made a new high but not SP so a high of 1217 is on the target

I am getting 19-.75 target using Kools methods on 2 different time frames

Previous high kill it for me.

Buy the open sell the high

Originally posted by BruceM

...Hey DT how to edit a topic heading.....multi - tasking today...

Fixed the heading - sorry it took me so long to get to...