ES short term trading 7-20-10


  • 3
  • koolblue
  • 20-Jul-2010 at 6:36 AM
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When i projected much lower prices,last weekend, few believed it. Everyone was looking for another 1100 test and higher. You probably wont believe what i feel comes next either! lol.. But enough macro crap, heres a snapshot of the near term ,going into the morning....
Click image for original size
913
  • 1
  • koolblue
  • 20-Jul-2010 at 6:46 AM
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Be advised that today or tomorrow is Kools 12-13 day low... refer to last weekends preview and July calendar.. lately its been running 13 days so tomorrow would be more likely...
  • 1
  • BruceM
  • 20-Jul-2010 at 9:02 AM
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support zones

Daily s1 1056.75
Untouched Hourly 55
High Volume building Overnight here too

so zone 55 - 56.75


weekly S1 48.25
Daily S2 49.50
Untouched Hourly 47.50
Key number 1050

so zone 1047.50 - 50


If we can hold the 55 in early RTH trade they will bring it back to 61 area and higher...
If we start showing real failure at the 47.50 - 50 zone then 1040 - 1037.50 is the next zone

Low volume in O/N at 58.25...and O/N midpoint is there...so if we get longs we need to take some off in that zone and then try to hold..
  • 0
  • BruceM
  • 20-Jul-2010 at 9:07 AM
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starting small long at 53.75 target is 55.75...will wait for RTH to trade out or ad on...
  • 2
  • IanJ
  • 20-Jul-2010 at 9:08 AM
  • Rep: 40
  • Posts: 3
First post here, I've been watching Kool, Bruce and others for a few weeks now. You all are some of the best traders I have ever come across. Your strategies are excellent and I am learning a great deal, thank you for sharing and teaching.

You all seem to have a great feel for the market and it is highly informative to follow your work. The charts that you post provide a great deal of insight into and are extremely helpful from an education standpoint.

I hope to be able to add some worthwhile information as I become more knowledgeable.

Thanks again, and happy trading!
  • 2
  • koolblue
  • 20-Jul-2010 at 9:19 AM
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Click image for original size
914
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  • Lorn
  • 20-Jul-2010 at 9:27 AM
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Morning everyone!

You can see prices have been trading under VWAP since early morning with volume building down in the 1053-1056 area. As per Bruce and Kool lets watch to see what action does when RTH begins.

Click image for original size
07202010
  • 1
  • koolblue
  • 20-Jul-2010 at 9:31 AM
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My initial inclination would be to be a buyer at 1048.25 or a seller at 1061 or 1065-66. That could always change with price action , but thats how i'll play the early going..good luck all!
  • 0
  • koolblue
  • 20-Jul-2010 at 9:37 AM
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Nice bounce off of the 1.618 projection at 1056.50!
  • 0
  • BruceM
  • 20-Jul-2010 at 9:41 AM
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starting RTh longs after they run those 53 players out on the bottoms
  • 0
  • koolblue
  • 20-Jul-2010 at 9:52 AM
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And theres the air fill at 1058.50..should continue to push slightly higher tho..now hopefully thr red avg..currently at 1054.75 will beginto provide support...
  • 0
  • Lorn
  • 20-Jul-2010 at 11:21 PM
  • Rep: 16k
  • Posts: 1,406
Thanks for the posts Bruce.

I'll leave you alone to gets some rest up for tomorrow.
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