ES Short Term Trading 11-29-2010


  • 5
  • Lorn
  • 29-Nov-2010 at 8:39 AM
  • Rep: 16k
  • Posts: 1,406
Getting things started for the new week here is a chart with cumulative delta on the bottom pane. This indicator tracks the difference between bid volume and ask volume. You can see the two red lines I've drawn at -98202 and -176494. These areas represent in my view last weeks buying/selling pressure zones. For prices to rally in any significant fashion delta will need to get up and through that -98k area. Sellers still have control here in terms of cumulative contracts being in the minus side.

I hope that makes sense.


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footprint 11292010
  • 0
  • i1hunter
  • 29-Nov-2010 at 11:31 AM
  • Rep: 1,730
  • Posts: 268
I'm observing 1177.00 area for set ups one way or the other.
1188 or PP has a 2.618 fib Ext. which developed this morning, Resistance at 1.618 or MdP at 1183
  • 1
  • Lorn
  • 29-Nov-2010 at 3:22 PM
  • Rep: 16k
  • Posts: 1,406
Prices are at an interesting juncture here. You can see on the lower pane delta is back to where selling was initiated in the overnight action around -132k contracts.


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footprint 11292010a
  • 1
  • Lorn
  • 29-Nov-2010 at 4:20 PM
  • Rep: 16k
  • Posts: 1,406
To show the follow up you can see delta has struggled at where the selling initiated. This must be overcome for price to continue upwards.


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footprint 11292010b
  • 0
  • i1hunter
  • 29-Nov-2010 at 8:27 PM
  • Rep: 1,730
  • Posts: 268
Last few days, awesome calls Bruce!
And Lorn, great charts and perspective.

Thanks guys! Some times does helps when we are congruent. Some many different ways, one outcome!
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