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

I really don't want to see this too far above 22.50 now on this fade!

the concern on this is that volume is building higher then YD RTH volume and todays POC is now at 20.25...yd was 16.75...so price is still accepted higher !!

3 main bands of volume

21.50
20.25

and 18.50

Obviously I'm hoping the 18.50 is the attractor

flat at 20.75...gotta go swim.....

ledges at 20 and 24....trips way down there...

short 23.25 and small...will add above ledge if 21.50 doesn't print first.....21.50 is now top volume price...interest there

1122.25 R level was here. I type slow.

Do you mark an open horizontal line on your chart? I think today and yesterday about doubled up at the 1119.75 level? I use this a lot and note the doubled up levels seem to be more important as a pivot, imo.



Banks in general holding below R level(I think 4th time they tried to breakout) while GS does a run up,but off highs here. Maybe being paid for the prop job?
Goog above 500,AAPL stuck in middle of range so far today. PCLN up 51 off earnings. NDX above and so far holding 1096, (no big banks in it).

Wicked down move O/N. Break of 1129 prior high would be quite a move.I still like my choices posted yesterday but I can change my thoughts with a chart, so it's said. Looks okay so far to me except for the R levels , prior highs, lower highs,etc... :)
Right here and now looking for wave 2 down of 3rd wave up(if hi, and lo are an ABC wave).Obviously it's working here to find a decision.

Back at the open. 2 waves can retrace wave 1 by 100%(1116.25) but doesn't have to. Break that and not a 2 wave.

Solar flare!!!

trying to hold one for those tripls.....gonna need some luck as that ledge is still up top.....watching the 21.50...

looking at lowest range 15 minute to help me hold this..it;s high is near 21.50 too!!

First day back from vacation... Reading all the past posts and threads trying to get back in the flux of the market.

There is a Kools price projection at 1116.75 with two confluences and they been spot on all day today! I hope he comes back I saw the argument with you guys and blue. I learned a lot from him and still have a ton of questions for him...

Bruce nice trading today

I agree DT. Thanks for keeping the mypivots site what it should be!!