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
  • 0
  • BruceM
  • 20-Jul-2010 at 10:31 AM
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i'd like to see this retrace stay above 58.50
  • 0
  • koolblue
  • 20-Jul-2010 at 10:34 AM
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MAN...FRUSTRATION! 2 dead nuts strikes for me at 1050.75 and 1061.00 and no fills!
  • 0
  • BruceM
  • 20-Jul-2010 at 10:34 AM
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hour range run coming !!
  • 0
  • koolblue
  • 20-Jul-2010 at 10:39 AM
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trouble again at Kools 1061 ,but i belive we break up to the next proj at 1062.25, then pullback a little then finally thrust up to the 64.75-66 zone...
  • 0
  • BruceM
  • 20-Jul-2010 at 10:40 AM
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last two off at 61.25...don't like the hour run break into a VA low like this...seen too many problems with holding
  • 2
  • koolblue
  • 20-Jul-2010 at 10:43 AM
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Click image for original size
918
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  • koolblue
  • 20-Jul-2010 at 10:45 AM
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note the converging mov avgs at around 1058.. i'll still buy the 57-58 zone here on any pullback...at least for now
  • 2
  • Lorn
  • 20-Jul-2010 at 10:54 AM
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Bruce,

I've been fiddling with 60 min volume as per your comments. Here is my chart. I see 1062 has big volume going back in O/N and yesterday. Is this resistance? And if prices get through would you be targeting that 1064-1065 area with light volume?



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hour
  • 0
  • Lorn
  • 20-Jul-2010 at 11:00 AM
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I see those averages Kool.

Originally posted by koolblue

note the converging mov avgs at around 1058.. i'll still buy the 57-58 zone here on any pullback...at least for now
  • 2
  • DavidS
  • 20-Jul-2010 at 11:00 AM
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I don't use volume but that seems really good to my methods as it would be a retrace to that ascending black S/R line on chart posted earlier. 1 hr 50 sma at 1064 here. If it gets there, what do you think all those longs from yesterday will be doing?
  • 0
  • Lorn
  • 20-Jul-2010 at 11:21 PM
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Thanks for the posts Bruce.

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