ES Short Term Trading 8-4-2010


Today's announcement's from the Economic Events page:

07:00 AM MBA Purchase Applications
07:30 AM Challenger Job-Cut Report
08:15 AM ADP Employment Report
09:00 AM 3-Yr Note Announcement
09:00 AM 10-Yr Note Announcement
09:00 AM 30-Yr Bond Announcement
10:00 AM ISM Non-Mfg Index
10:30 AM EIA Petroleum Status Report
  • 0
  • BruceM
  • 4-Aug-2010 at 10:17 AM
  • Rep: 216k
  • Posts: 19.9k
took one off at 19.75...watching the 20 - 21.50 for resistance....I have one left...do I try to just exit at 18 or try and hold for that 16.75 number?
  • 0
  • BruceM
  • 4-Aug-2010 at 10:19 AM
  • Rep: 216k
  • Posts: 19.9k
gonna try for the 16.75 for final..
  • 1
  • BruceM
  • 4-Aug-2010 at 10:21 AM
  • Rep: 216k
  • Posts: 19.9k
flat at 16,75.print...If I had one more it would have tried for that 14.75 but this is an interesting spot now...watching to see if those O/N report folks buy it back up
  • 1
  • BruceM
  • 4-Aug-2010 at 10:32 AM
  • Rep: 216k
  • Posts: 19.9k
20 - 21.50 is resistance..that was where the 10 am report folks came in and open..I'm looking to that to hold back the market rally and go for that 14.75...volume....

can't get too over bearish or bullish though as we are still stuck in O/N and YD range...that 16.75 was awesome...sure wish I bought it....as Bruce pats self on back!!

Hour range trade....
  • 3
  • hari
  • 4-Aug-2010 at 10:43 AM
  • Rep: 470
  • Posts: 60
Today's OR:





      OR     5min     15min    30min    60min



      High   1120.50  1121.75  1122.25  1125.25



      Low    1118.50  1118.25  1118.25  1116.75



      Range  2pts     3.5pts   4pts     8.5pts


Is 1125.25 going to be the HOD today???


YD's LOD was L of 60min OR
  • 1
  • BruceM
  • 4-Aug-2010 at 10:45 AM
  • Rep: 216k
  • Posts: 19.9k
a true failed auction ( high breakout) will go all the way to the otherside...that would create an outside down daily bar...so the selling tail is a good sign for that but how can we be really sure?,,,buyers again stepping in at the 16.75 isn't a good thing for shorts.......I don'tthink they will do that agin so if we make new lows again it should be a good signal for the down OVB..or at least that 14.75 number...then 12.50

LOw voluem at 19.75 !!
  • 0
  • BruceM
  • 4-Aug-2010 at 10:52 AM
  • Rep: 216k
  • Posts: 19.9k
sure wish I could find signals to buy off those areas...sometimes so foucsed on an idea, that I can't spot the reversal..

peak volume on this 30 minute is 19.50....so now as per volume all I see is 19.50, 24.50 and 14.75..just an FYI
  • 0
  • BruceM
  • 4-Aug-2010 at 11:01 AM
  • Rep: 216k
  • Posts: 19.9k
Value area and developing Volume POC just lowered...which certainly isn't good for a bullish case..I'd like to be a seller above 19.75
  • 0
  • BruceM
  • 4-Aug-2010 at 11:07 AM
  • Rep: 216k
  • Posts: 19.9k
I'm on the 20.50 short..triples below now
  • 1
  • BruceM
  • 4-Aug-2010 at 11:08 AM
  • Rep: 216k
  • Posts: 19.9k
18.75 is my first target though..then triples
  • 0
  • MonkeyMeat
  • 4-Aug-2010 at 10:22 PM
  • Rep: 12.7k
  • Posts: 1,334
I agree DT. Thanks for keeping the mypivots site what it should be!!
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