ES short term trading 12-20-10


  • 4
  • BruceM
  • 20-Dec-2010 at 8:54 AM
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Selling at 43.50 ......good chance for at least 39 - 40 retest...but this will be on a time stop...as we need to get back there in the first 45 minutes of RTH...will watch official open print for 1/2 gap fill


If these two targets don't hit in the first 45 minutes then we have the potential to trend higher as a trend day today....we know the 50 RAT looms above

Key for me as far as price action will be a hold ABOVE 44.50 as that is R2 and current O/N high and if that happens then this short will lose
  • 4
  • Lorn
  • 20-Dec-2010 at 9:27 AM
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Here is the O/N Profile. Something of note is this O/N action has traded both above AND below Fridays range...


Click image for original size
onprofile12202010
  • 1
  • Lorn
  • 20-Dec-2010 at 9:55 AM
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Trying to find support on VWAP here. Will be telling for the rest of the day if VWAP holds.


Click image for original size
footprint 12202010
  • 1
  • Lorn
  • 20-Dec-2010 at 10:45 AM
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Here is a look at the breakdown through VWAP. You can see from all the red blocks even above the VWAP that there was no real buying happening. Who wants to buy the highs, rather wait for a pullback right?


Click image for original size
footprint 12202010a
  • 0
  • BruceM
  • 20-Dec-2010 at 11:03 AM
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flat at 37.75......PV and close may jerk it around and air above...not trading for that unless a great signal to get long...
  • 1
  • BruceM
  • 20-Dec-2010 at 11:42 AM
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  • Posts: 19.9k
I'd like to see them push up into the LVN from today and find a short to get triples at 37.75..we don't want to see them run out of YD range though
  • 0
  • BruceM
  • 20-Dec-2010 at 11:56 AM
  • Rep: 216k
  • Posts: 19.9k
if it was a better time I'b trying to sell above the midpoint of 40.....but gonna pass and eat lunch!!
  • 1
  • BruceM
  • 20-Dec-2010 at 12:26 PM
  • Rep: 216k
  • Posts: 19.9k
all air is filled now...a missed trade...two sets of triples now sit below 40 midpoint ...so shorts are preferred up here
  • 2
  • BruceM
  • 20-Dec-2010 at 12:52 PM
  • Rep: 216k
  • Posts: 19.9k
this is second try to come out of YD RTH range...the first was the higher gap open.....so now we need get back under that high of YD before attempting the triple run out below....it's just a safer fade
  • 2
  • BruceM
  • 20-Dec-2010 at 1:07 PM
  • Rep: 216k
  • Posts: 19.9k
now three sets of triples below...how often do we get three higher triples forming without running out at least one of them? If not more....

selling into this 42.50 area would need to risk into 45 area as that would make a perfect symetric day on both sides of 60 minute range in case bulls keep pushing
  • 0
  • BruceM
  • 20-Dec-2010 at 1:12 PM
  • Rep: 216k
  • Posts: 19.9k
trading for a 41 retest off 42.50...lunch is over for me....but keeping it light anyway..not giving much back today if wrong!!
  • 0
  • BruceM
  • 20-Dec-2010 at 9:23 PM
  • Rep: 216k
  • Posts: 19.9k
45 - 47 is key Resistence in O/N...hitting that now!!
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