ES Short term trading 12/09/10


  • 2
  • i1hunter
  • 8-Dec-2010 at 9:20 PM
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Finally, the ES was able to close above 1224.75. As long as it holds, then the objective is at 1235.00 (Test of Monday's high) and possibly higher up to 1249.00 in next few days.

The above objectives will be void if the ES moves below 1224.00

Note: Keep in mind today's high as a SR. (1229.25)

As always, the market has the last word and in due time will show us the way.

ES now trading at 1228.75 -- 21:21:52
  • 0
  • BruceM
  • 8-Dec-2010 at 10:16 PM
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JIHUNTER...I'm checking data and prices at 21:20...the time on the post the ES was up at the 1233.50 area....trying to clear up prices

Perhaps someone else can confirm ??
  • 2
  • chrisp
  • 8-Dec-2010 at 10:30 PM
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looks like March Contract Bruce at 28.75
  • 1
  • BruceM
  • 8-Dec-2010 at 10:37 PM
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ahh.....that's a good reason...thanks....
  • 3
  • i1hunter
  • 8-Dec-2010 at 11:38 PM
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Bruce, I always use continues contract . Here is a pic of the daily with O/N taken at 23:31.



Click image for original size
cmees fd e mini sp 500 120810 2331
For today's trading I would NOT suggest using the continuous contract. I would switch to the March contract for rollover because otherwise you're comparing yesterday's highs and lows etc. from the previous contract (Dec) to the one you should now be trading and seeing on your charts (March).
  • 1
  • CharterJoe
  • 9-Dec-2010 at 10:22 AM
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Ireland downgraded, Euro has started to tank how is the equities? Another crisis? Same scenario as flash crash back in may...
  • 0
  • CharterJoe
  • 9-Dec-2010 at 10:24 AM
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LOL there flat...which is why it's better to be a news trader in Currency.
  • 1
  • i1hunter
  • 9-Dec-2010 at 10:48 AM
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Overnight the ES (March) made a high at 1233.00.
Day session was not able to stay above previous day high 1229.25. and now is testing the 1224,00 area.
If below 1224.00 then I'm looking for 1221.00, and 1217.00 as objectives.
Will see, what it has to give us today.

ES now trading at 1224.00 -- 10:46:00
Originally posted by i1hunter

Finally, the ES was able to close above 1224.75. As long as it holds, then the objective is at 1235.00 (Test of Monday's high) and possibly higher up to 1249.00 in next few days.

The above objectives will be void if the ES moves below 1224.75 -- 10:48:26

Note: Keep in mind today's high as a SR. (1229.25)

As always, the market has the last word and in due time will show us the way.

ES now trading at 1228.75 -- 21:21:52
  • 1
  • BruceM
  • 9-Dec-2010 at 11:29 AM
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I think as long as we can stay below the 27.50 - 28.50 area then we should make new lows and perhaps if those rolling over get it together ( supplying the market with some volume) then we can have a really good sell off....I'd prefer to see price hanging below that O/N low too and build volume UNDER there

Today the market gapped higher open and we had that nice retest of the OR high from the 50% gap fill and then sold off again...so structurally that is good for shorts and we broke the hour low...naturally anything can happen and does so we shall see....
  • 1
  • i1hunter
  • 9-Dec-2010 at 12:42 PM
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Notice that the ES tested the 1221 area or R! and now is back up trying for the PP 1225.00

I'm looking for one more test of 21. Failure here then 1217 is next and possibly 1213.00.

Above 1227 will void the above objectives.

ES now trading 1224.00 @ 12:42:12
  • 1
  • Lorn
  • 9-Dec-2010 at 3:18 PM
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If they exit December it will still show up in the CD.

Originally posted by BruceM

i just don't get it...you have all these folks trading december and then march comes and some will exit december and not re-enter into march...so I'm not sure how the CD could be accurate....
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