ES day trading for 5-27-11

First resitance line is at current O/N high as we approach the 8:30 reports...so

1330.50 - this is also last fridays VA low !

then above there we run into a high and low volume combination from last friday up at

1332.50 - 1335 *******that is a better zone I think for selling against if given the opportunity
\

On the downside we have that key area from YD at 23.75 and the current O/N low is 24.40 so key support will be

1323.75 - 1324.50 ***

under there is a low volume area at 19.50 - 21.25...the breakout zone...that is important to bulls so it gets lots of stars ********
those two zones are tight.....

These will be revised after reports hit....

3 day weekend and reports also at 9:45 and 10 a.m.

I'm hoping to get trading over with fast today......It's one thing having losses but having them infront of a long weekend is worse for me...so overall I will be trading lighter and not as agressive

I favor the short side again.

as usualy we will watch the ranges to see what holds and what fails....

Looks like im about to drop 500 bucks...sheese! Not a good way to start the holiday!

old VPOC here 1332.25

Nice Filled on 1333.00

Old VPOC(long black line)at 1332.25. Green line IPO POC

..By the way ,John pr ..great trade!!

Bears piling up...watching here.

1.272 ratio again. I say we go higher, though... watching 35-36 as a target.

Going to take all my contracts off on 1329.00 See how the market reach there. Remember play with the big players.

Originally posted by johnpr2010

Why I would get my runner up to 1333.00 then make a big short sale of 20 contracts?

Bears put effort. Looking for a re-test. Bounce is on low volume

Let's see this fall apart down to 24-25. Shall we? ;]

From John Mauldin.... http://pipesandtheories.blogspot.com/2011/04/keynes-v-hayek-rap-battle-part-ii.html