ES Day Trading 5-31-2011


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  • Lorn
  • 31-May-2011 at 8:28 AM
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Getting thing started with a look at last weeks volume profile. Obviously prices are much higher here in the O/N but one of the interesting things to note on this chart is the expanding volume on up moves and decreasing volume on pullbacks. Classic behavior in an up trending market.


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es30min05312011
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  • johnpr2010
  • 31-May-2011 at 10:17 AM
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Big Traders would bounce from here 1337.00 since it's a fib 50% solid are with high volume.
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  • johnpr2010
  • 31-May-2011 at 10:21 AM
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I am counting the fib's number from ON's 30.00 to 44.00 movements. If you consider from afternoon low of friday to ON's high you should get fib's 50% 1335.50-1336.00 that would be a good place to go long I belive for a scalp of 2 points.
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  • BruceM
  • 31-May-2011 at 10:22 AM
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John, r u saying the big traders trade fibs or the big traders use 50 % ? my vote is for the 50 % but that isn't a true fib or so I am told.....interested in your opinion...


speaking of volume spikes Lorn....this is where the O/N volume spike happened..biggest one happened staring at 37.50 price so that area had to become part of our key areas mentioned on page one
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  • BruceM
  • 31-May-2011 at 10:25 AM
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so far we have a selling tail, we are below the open and O/N peak volume and we are EXPECTING The high to low day.....liking the "go with the selling trend " so far....not the best environment for long trades IMHO
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  • johnpr2010
  • 31-May-2011 at 10:34 AM
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Long here from 1336.00
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  • Lorn
  • 31-May-2011 at 10:34 AM
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Yes you are right. Big O/N volume zone here.

Originally posted by BruceM



speaking of volume spikes Lorn....this is where the O/N volume spike happened..biggest one happened staring at 37.50 price so that area had to become part of our key areas mentioned on page one
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  • johnpr2010
  • 31-May-2011 at 10:42 AM
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I would take out half position on 1338.00 and run the rest to 1340.00.
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  • neoikon
  • 31-May-2011 at 10:58 AM
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I'm still a believer of the 52.8% over the straight-50.

Not crazy about the up-side here.

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  • BruceM
  • 31-May-2011 at 11:08 AM
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that is one ugly looking RTH low so far.....look at all those stops....it shows no real buying impulse...nobody in a rush to get long yet...expecting that to get run.....
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  • BruceM
  • 31-May-2011 at 11:43 AM
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I started selling into 38...the reason is that this entire area...35.75 - 37.50 is shaping up into it's own miniature bell curve and I noticed volume was drying up as we went higher..36.75 is peak volume so that is the line that bears need to push through to get those lows run out.....

I will add above 39.50 if needed but not gonna get too crazy today
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  • TradeQueen
  • 1-Jun-2011 at 2:55 AM
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I deserve that! Foot still in mouth. BTW... the function works Great! Wouldn't of wanted to miss this post... no really!



Originally posted by Dubya

This is a good option to have..hopefully it will still remain "calm" TQ......
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