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 MonkeyMeat

with mkt punching below 1095 and currently bouncing back up to it ... if it can't get above and hold that price at all but rather rolls over ... looking at downside tgt of 87-85

So much for any follow through to tgt ... should've leaned towards the Don Miller "chop shop" MATD ... bleh!

Bruce what do you mean when you say gaps?

feng...I'll get back to ya after I get my 1105...LOL!

the spring is set to release...

that was the freakin coolest thing I've done in a while.....

Feng look closely atthe chart I posted and notice the 5 minute close at the high...then look how that bar after that didn't trade back to that close....so it was a gap....

Oh , how they make us suffer sometimes....

ayone have a settlement price..? this will be interesting...what did big contract print?

anyone else buy the 92 close with the 5 minute air.....? Luv to say I held that to close but didn't....took me three tries with runners to catch that finally......

Trading is hard!!!

Cool day..lets hope we are on target for the 1140 price projection.....



anyone interested in Spikes should read Dalton pages 280 - 289

we've had two of them recently ..one on Monday and one of Wednesday with different implications

Originally posted by BruceM

that was the freakin coolest thing I've done in a while.....

Feng look closely atthe chart I posted and notice the 5 minute close at the high...then look how that bar after that didn't trade back to that close....so it was a gap....

Oh , how they make us suffer sometimes....

====================================================================
Bruce

Why were you looking for 1105.. I was looking for it cuz
a spring had formed down @ the 1092 area. The rule for a spring
is to target the most recent high. Almost made it..

so nobody really goes back and reads these...that's too bad..go to the bottom of page one red...your answer is there...Gap in data at the highs for the short answer

Originally posted by BruceM

so nobody really goes back and reads these...that's too bad..go to the bottom of page one red...your answer is there...Gap in data at the highs for the short answer

I saw the gap at the high and confirmed it with you to make sure I was seeing it correctly. But I am missing the 5-minute gap at 92 you recently mentioned (the long red downward spike).

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.