Es short term trading 9-2-10


  • 3
  • BruceM
  • 2-Sep-2010 at 7:40 AM
  • Rep: 216k
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Numbers today

1082.50

1077.50

1071.75 - 1073.75 **** key support


1065.75


1059 - 1061***


Further upside will be determined by O/N high if reports at 8:30 rally the market
  • 1
  • BruceM
  • 2-Sep-2010 at 11:54 AM
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ym is growing weaker.....careful on longs up here
  • 0
  • DavidS
  • 2-Sep-2010 at 11:56 AM
  • Rep: 3,181
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lol,
I was referring the market read.
Right back to it too.
  • 0
  • BruceM
  • 2-Sep-2010 at 12:10 PM
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  • Posts: 19.9k
yeah, great example of volume as an attractor in my world
  • 1
  • BruceM
  • 2-Sep-2010 at 12:16 PM
  • Rep: 216k
  • Posts: 19.9k
so now the Nq is making new highs but ES and YM are weaker...so I'm still looking for shorts at higher prices and using 84.50 as the magnet
  • 1
  • CharterJoe
  • 2-Sep-2010 at 12:16 PM
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Fading NQ range extension @1834
  • 1
  • CharterJoe
  • 2-Sep-2010 at 12:20 PM
  • Rep: 4,475
  • Posts: 2,352
Covered +2, large - $Tickq reading

The reason I took that fade is because range extensions this late to attract profit taking and not new buying, also after yesterdays big range....
  • 1
  • BruceM
  • 2-Sep-2010 at 1:03 PM
  • Rep: 216k
  • Posts: 19.9k
well these super low $tick readings and Nq trying to crack down doesn't seem to be insppiring too much selling yet....needs to start going now.....I will be more cautious on fadeing any pushes above the hour high if we can't get it to roll over down now


need Nq to stay undr hour highs
  • 3
  • BruceM
  • 2-Sep-2010 at 1:35 PM
  • Rep: 216k
  • Posts: 19.9k
Here is a visual for some members who like the divergent trade concept...

Blue is the NQ
ES In the center

YM at the bottom

Just one way to look at it...you can see the divergences and strngth and weakness easier this way
Click image for original size
diverge lines
  • 0
  • DavidS
  • 2-Sep-2010 at 3:19 PM
  • Rep: 3,181
  • Posts: 557
trapped inside that R area (84.5-87.5)
doubles up and down on the 1 min chart(84.5 and 87)
  • 1
  • DavidS
  • 2-Sep-2010 at 4:01 PM
  • Rep: 3,181
  • Posts: 557
91 would be a good target usually.
seeing a lot of volume here
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