ES Short Term Trading for 3-21-2011

Thought I'd go ahead and launch Monday's ES goodies for folks to add to. Posting my Monkey MAP of the ES June contract, 30min bars for 20 days. The Red lines are potentially significant PASR levels with Magenta as semi-significant. The Whitish dashed lines are the Weekly Pivots. The 2 Yellow lines are a Fib Cluster that stood out to me in that zone. And fwiw, I also included in Green, an Andrews Pitchfork since it "felt" right for what I was looking at. The right vertical Blue lines are Volume at Price. Hope this is a helpful MAP to folks!



Lots of lines ... but I'm showing roughly 100 points with this particular chart.

I would bet that RTH VWAP is at 93.50....so we need down volume to break away from there for us to make some could coin....otherwise they will just jerk around that price..


we don't need VWAP most times because we can see the volume thrusts..

nice Optimus and even the 3/10 oscilattor.....


Us MP traders want to sell these rallies with the ultimate goal of getting outside the IB low....if you initiated those sells BEFORE the IB completed

I never like to initiate trades inside the IB range AFTER it forms...


we never REALLY know which way they will push the IB range ahead of time...that would be nice...LOL!!

Bruce, could you please clarify: for you IB means 1 min, 5 min 30 min or 60 min? Thanks

60 minute range....IB = initial balance

96.80 is the 88% retrace. Some people feel this is a major res number

especting yet another return to 93.50 volume...

i have that marked on the chart too, but 61.80 is right at the reaction line for my pitchfork..88.60 doesn't come into play at this point so it is not a number i am concerned with at this time. All the indicators on the 240 chart show we are topped out right now so, i am waiting for the 60 minute which i have shown here to catchup and then we should see a reversal. that's my analysis for today/ this week. time will tell.. key is to stay flexible enough to change if the trade goes against you.

internals were diverging and still are on attempted rallies......signs of weakness in theory....


so we have this tiny liittle range of key nubers today with the 95 as an old number and the 93.50 as a number that has formed today...so far trade above 95 has been met with selling...not a great sign for the long side IMHO but that could change....I still favor the downside until volume tells us otherwise

still air pockets at 91.25 and at 92...that is why my secondary targets have been 91.50

this could change in a flash given this low volume now but here is just one internal...the $ticks and you can see how they are slopped downward as price in trying to push upward...hence part of the reason for selling rallies....If they go back up again then watch this picture as it could imply that the strength is real next time and fading may be the wrong way to go from here

Hi

JP Morgan was a big Buyer today , he/they bought > 90ish LONG with over 2.000 Contrats alltogether again and again...Audiotrader i listen the big one 250,- $ ES Contract for 1 Point. So 1 Point was worth 500.000,- $ and thats realy big Numbers for JP .

@ Koolble , MonkeyMeat, Bruce and all the fine People here : THANK YOU GUYS i learn so mutch here that no any book can teach me and sory that i have not the Knowledge to share also here but i love it every Day moore and moore to be here !!!