ES Day Trading 6-1-2011


  • 5
  • Lorn
  • 1-Jun-2011 at 8:57 AM
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Some early observations.

Divergence between ES and NQ at there respective O/N highs as NQ surpassed the 8:00pm highs made while ES did not.

ES has now traded back to yesterday's POC of 1337.75 and trying to stabilize.

1338.25 is the 2.618 projection down off the 30-min initial move. 1333.25 is YD RTH low while just below that is 4.236 projection of 1332.25 off the 30 min initial move down.

CD divergence at the high also indicates to me O/N inventory is currently short. Do they have the strength to keep prices going lower?
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  • BruceM
  • 1-Jun-2011 at 10:16 AM
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33.25 is YD low and air pocket fill is 33.50
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  • Dubya
  • 1-Jun-2011 at 10:19 AM
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Great fills guys//only 140 contracts filled at 31.25
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  • BruceM
  • 1-Jun-2011 at 10:19 AM
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35 - 36.25 is secondary target for runners...that is a peak volume, a gap in data and FIRST air pocket
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  • koolblue
  • 1-Jun-2011 at 10:20 AM
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Taking half off at 1333.50, holding the other 2 for 1334.50
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  • koolblue
  • 1-Jun-2011 at 10:21 AM
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out 2 at 1333.50, holding the other 2 for 1334.50(expectiong 1335.25)
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  • BruceM
  • 1-Jun-2011 at 10:22 AM
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if u look at your one minute data u can see volume shrink as we went below YD lows......so sellers weren't interested below there...at least not yet..
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  • BruceM
  • 1-Jun-2011 at 10:24 AM
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I can't speak for anyone else but I almost never get filled at the prices I post here..........just too hard to trade and post...I go to market....in this case I hit the button when we went 2 points under YD lows....having air above helped
Originally posted by Dubya

Great fills guys//only 140 contracts filled at 31.25
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  • BruceM
  • 1-Jun-2011 at 10:26 AM
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this may shape up to be a cool battle between those who want to sell under yesterdays lows and those who want it stay above last weeks highs and YD lows and buy...
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  • koolblue
  • 1-Jun-2011 at 10:27 AM
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Fwiw.. longer term it seems to me this 1330 level on the es is very important! Going much below (especially on a closing basis) would indicate to me the correction may yet want lower... dont forget the daily projection all along has been 1295.50 and that was not yet achieved! Thats another reason i felt this 1331 had to be good for a bounce ,short term.. it should be a battleground!
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  • BruceM
  • 1-Jun-2011 at 10:31 AM
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runners stopped ...will look long again under 60 minute lows if they run them out....hopefully near 1330..
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  • BruceM
  • 1-Jun-2011 at 3:16 PM
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the poc based on time has shifted lower so we may need to go down to find buyers
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