ES short term trading 7-7-10 5921


  • 1
  • BruceM
  • 7-Jul-2010 at 9:29 AM
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Just a giant range between 1039 and 1006

key zones

1037 - 1039
1025 - 1028
1014.50
1006
  • 3
  • DavidS
  • 7-Jul-2010 at 10:33 AM
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the descending black line up the is the target I see for up above high but I'll watch the fibs
Click image for original size
es 09 10 772010 60 min
  • 0
  • BruceM
  • 7-Jul-2010 at 10:39 AM
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reshorting at 37.50 print...will add above 40 if needed..targeting 35 even first
  • 1
  • phileo
  • 7-Jul-2010 at 10:39 AM
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Originally posted by BruceM

yes DT...perfect !! so air will fill in completely at 31.25....


notice how the most recent pullback stopped exactly at 1032.5.
Top of that air pocket, right?
Does that not say buyers are stepping in to prevent a move to 1031.25?
  • 0
  • DavidS
  • 7-Jul-2010 at 10:47 AM
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another lower high from 1038.5 and tested the short intraday original line for support so far. about 1035
  • 0
  • DavidS
  • 7-Jul-2010 at 10:49 AM
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piercing the megaphone line
  • 1
  • BruceM
  • 7-Jul-2010 at 10:54 AM
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great point Phileo....air that gets tested and holds is telling us a lot
Originally posted by phileo

Originally posted by BruceM

yes DT...perfect !! so air will fill in completely at 31.25....


notice how the most recent pullback stopped exactly at 1032.5.
Top of that air pocket, right?
Does that not say buyers are stepping in to prevent a move to 1031.25?
  • 0
  • BruceM
  • 7-Jul-2010 at 10:55 AM
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added at 41.25...interesting to see if volume comes in off the 39 breakout...still keeping it small..I have the 37.25's too..new air at 37.75
  • 0
  • DavidS
  • 7-Jul-2010 at 11:06 AM
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kind of stretched out vertically here below 1042 150%. second run on the 1040 stops
  • 0
  • BruceM
  • 7-Jul-2010 at 11:12 AM
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I think we will trade back to 36.25 TODAY just not sure when!!
  • 1
  • PAUL9
  • 7-Jul-2010 at 11:18 AM
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1042.25 is 50% of prior week, a natural stall and retrace zone on a first test.






Bruce, thanks for your explanations in yesterday's thread.
Here's a 30 minute chart of the ES with the DVATool on it showing 1 filled in single print from Tuesday (red horizontal dotted line) and 4 single prints left from today's trading (white horizontal dotted lines).

Click image for original size
ES 7 July 2010 showing 4 single prints left behind on this day.
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