ES short term trading 6-3-10

Good morning crew,

O/N Market had slightly upward bias O/N range is 1096 - 1104

1105 is resistance from last week
1097-1098 is yesterday's gap fill and daily hi
1084-1086 is friday's low, Tues. VPOC, POC and reaction area from last week.
1081 was the start of Mon. breakdown, and start of yesterday's breakout.

1069-1070 is an unfilled gap and double bottom (more obvious on a volume chart)

Today's stretch (from opening price) is 7pts.
Price is currently above the value areas of all sessions since May21.
Euro was slightly weak in the European session, and this morning's 830 am economic releases were slightly below expectations, but mkt response has been non-chalant.


Today is MATD, so my guess for the initial MATD oscillation points are:
1105-1106
1090-1094

Today's daily Range estimate is 1087 - 1112
Based on current mkt strength, I think mkt will probe the 1105-1106 area first before attempting to fill gap (1097).

Originally posted by BruceM

damn ..they left a gap at the high.....they gonna get it cleaned up..that was my hit to sell...flat at 1103.25 as I think they will go get that high

I saw it run to 1105.25 right around the econ.number. That was my number, but couldn't pull the trigger.
I was looking for a +ve TICK extreme, but never happened, and mkt ran down. dang.
Looking for a retrace.

long 02 even for that damn gap

Bruce,
I see that little gap, but I also see rth gap below.


isn't there air open from yesterday 88-87.25, or do you consider that negated by 1min? -still looks like it's there to me.

this second day in a row with an unfilled gap up, historical odds roughly 7 in 10 that gap fills.

they see it and will make us suffer for it

Originally posted by BruceM

here is the gap...don't trust shorts till that is cleaned up...perhaps they will smoke me and long side will not work

Click image for original size

Bruce,

Is the gap between the high/close of the last green bar and the high/open of the last red bar? Trying to see if I recognize it or not.

euro weakness starting to spill over into ES. could cap any rally attempts...

flat 1101.25...will try again...

long 00.50...

here comes the rain.
short 1100.75 1pt stop
hopefully dip buyers can stop it at gap fill 1097

added at 98.75 ...looking for 1101 first to tighten

there was someone here who was looking at triples in the O/N session and then POOF !! They disappeared.....maybe they just made so much money trading for them.....Ha! I hope it keeps running up..triples are all over the place in this O/N but I still want 1105.25 cleaned up...

Originally posted by Piker

Originally posted by BruceM

anyone getting long in O/N..? My world seems to think that tomorrow whould make a HH and HL then today...so why notget in early ? Like at 1100 area....and 1105 still needs work I think...Anybody ? Anybody "

I am long at 1100.75 shooting for the triple at 1104.25, at least initially.