ES Short Term Trading 10-1-2010


  • 2
  • Lorn
  • 1-Oct-2010 at 9:27 AM
  • Rep: 16k
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New month!

Opening near the top of the O/N range. Lets see what the scary October brings us feeble minded traders.


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footprint 10012010
  • 1
  • i1hunter
  • 1-Oct-2010 at 11:04 AM
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Small time frame isolators are coming out of oversold area and up to the 50% line, right in that area they should turn back down again as the market starts moving down and below previous low
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  • Lorn
  • 1-Oct-2010 at 11:19 AM
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bogeyman?

Originally posted by CharterJoe

Originally posted by BruceM

damn reports......I'd like to see the 49.75 gap filled today....where is our volume?



10am on a Friday who comes up with these times??
  • 0
  • DavidS
  • 1-Oct-2010 at 11:31 AM
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can it go back,sure
1138 R and the underside of the triangle
36.5 last stand for this congestion band
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es 12 10 1012010 60 min2
  • 1
  • i1hunter
  • 1-Oct-2010 at 11:31 AM
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DavidS.The apex of your triangle comes out at about 1140.
1140 is also 38% ret. from yesterday's intraday h/l. In other words, it is better if the price does not move above that point. Right now trading at 1137.00.

Guys, thanks for taking the time to post the charts.
I will post some later tonight.

Originally posted by DavidS

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es 12 10 1012010 60 min

  • 1
  • DavidS
  • 1-Oct-2010 at 11:42 AM
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invalidates the triangle to me but I've seen em hit an apex and pivot,could be another formation for all I know
1140.25 area 50% 1127-1153.75
  • 1
  • i1hunter
  • 1-Oct-2010 at 11:50 AM
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Interesting that 1140 is the 38% h/l from yesterday's move. 1140 is the apex of the 60m triangle. 1140 is also 50% of the O/N and today's low. hmmmm and Bruce was talking about the 1141 yesterday....make it or break it! ES now trading at 1140.25....

1144.00 next resistance and upper line of the 60 min. triangle. If that was to happen then it is most likely it will challenge the 1153 high. Will see.
  • 0
  • DavidS
  • 1-Oct-2010 at 11:52 AM
  • Rep: 3,181
  • Posts: 557
the triangle as it existed, new lower line with lod here from 1131
we're also in a channel with trendline 27-31 on bottom
maybe meander most of day but I think down and my breach level is 1147.31 for higher
23.8 retrace of 30th range

all this from a flash crash test dummy
let the rally begin
  • 0
  • DavidS
  • 1-Oct-2010 at 12:38 PM
  • Rep: 3,181
  • Posts: 557
watching BIDU sub 100, AMZN,NFLX for break of todays low,that's where the pain will be to me for lower,former high flyers
1137.75 hr S level
1139.75 R here
I usually mention the BKX but it's stuck sub 46.5 a little and until higher doesn't matter to me here
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  • BruceM
  • 1-Oct-2010 at 1:07 PM
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it would be a bit strange if they don't try to test that volume at 42.50 as long as new bigger volume doesn't come back in


Hopefully most saw the the trade of the day which was buying the hour breakdown with Tick and Volume diverging.......perfect retest of 50% of days range....

A top 5 entry given that 33.75 - 35.25 was the critical volume spike from yesterday
  • 0
  • BruceM
  • 1-Oct-2010 at 1:32 PM
  • Rep: 216k
  • Posts: 19.9k
low volume..gap at 41.75 is keeping me pressing longs...a better time of day for that.....unlike yesterdays failure at the 49.75!
Have a good weekend everyone!
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