ES Short Term Trading 8-5-2010


Range Based S/R

R1 = 1129.50
S1 = 1108.75
R2 = 1132.875
S2 = 1105.375

Steenbarger Pivot = 1122.00
14.75 is where the volume came in from YD O/N session and that 8:15 report..so we can lean on that if needed
I may be wrong about that 21.50...volume from Official volume POc YD and in O/N at 19.50 - 20.50...we certainly don't want to see that sto[p the rally up and then start on new daily lows..
I'm done at 19.75 except for one...target on last is 21.50 out of stubbornness.....watching the 17.75 volume...this may get a gap fill, it may decline....just too many numbers when inside this giant range...so my best trade is essentially over....no more trades for now.....need a breather and it's only 9:52


Yesterday we opened Higher hit the volume lower ( on the downside)and went back up...will today do the opposite...open lower trade back into the volume and roll back down......I don't know but the open print will help determine that'
21 is final...just too close and single prints from O/N , volume nodes...lunar eclipes, gann, fibs...the kithcen sink...just too much crap in my way
$ticks sure aren't showing any real strength so far...
Here is footprint and VWAP. The challenge but no close above. As you say Bruce, no strength in this. Must get a close above VWAP on larger time frame chart before the bulls get the upper hand.


Click image for original size
footprint 8052010
Here is an update. We have had one 15 min close above VWAP, prices seem to be struggling here, could just be a consolidation before we see higher numbers. Look at all the volume building in this area.


Click image for original size
footprint 8052010a
Today's OR:



OR 5min 15min 30min 60min

High 1119 1119.25 1121.25 1122.25

Low 1115.75 1115.50 1115.50 1115.50

Range 3.25pts 3.75pts 5.75pts 6.75pts



YD's LOD/HOD did not occur in the first 60min, but they were off by only a few ticks.

YD's LOD/HOD/Range : 1116.25 / 1126 / 9.75 pts
YD's 60min OR: 1116.75 / 1125.25 / 8.5 pts
Here is a look at average volume compared to today on a 15 minute basis.

It was tracking nicely until that last 15 minutes.


Click image for original size
volume2
same thing as YD so far....ticking out the IB and then going in opposite direction.......19 is a ledge trying to form
No problem Lorn, msg me if need any help