ES 06-21-11


  • 4
  • PAUL9
  • 21-Jun-2011 at 9:50 AM
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I thought that if I at least opened a thread about today, that others would post some things.

the gap today has created an island below because price opened inside the gap

Gap is 75.75 to 84.50, it was created by the down open on 6-15-11 and subsequently has never filled,

the open today gapped up, retreated to a low of 77.50, that leaves island style gap 77.50 down to 75.75.

I would expect small moves, and odds favor a fill of the ES lower ghap today.

I consider yesterday a trend day.
today (day following trend day) often has consolidation, intraday zigging and zagging.

Some one else can post something now.
  • 2
  • Lisa P
  • 21-Jun-2011 at 11:25 AM
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I have marked 1287, in case Mr. BigWig has not covered yet. I expect a pull back to 1287 (target for any short I see)
  • 1
  • PAUL9
  • 21-Jun-2011 at 11:26 AM
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the full extension of Monday's Range, 1289.25, has printed.

Unfortunately, I have not studied this phenomenon any deeper than simply looking for a 618 extension print to generate a 1.0 extension.

I have not uncovered (I haven't really studied) anything more about it.

good trading to all
  • 2
  • Lisa P
  • 21-Jun-2011 at 11:28 AM
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However, looking at the numbers on the Footprint chart above, Mr BigWig exited quickly - within 0.5 point. Sorry for several short posts, instead of one longer.
  • 1
  • Dubya
  • 21-Jun-2011 at 11:28 AM
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With the open at 79.50 we just completed our 10 points up. The meltup may stop here and the zig zag begin....
  • 0
  • Lisa P
  • 21-Jun-2011 at 12:04 PM
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SHorts are trying again. I missed it, was on the phone

Click image for original size
2011 06 211203
  • 1
  • Lisa P
  • 21-Jun-2011 at 12:11 PM
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Low volume nodes: 87.50, etc...

Click image for original size
2011 06 211209
  • 0
  • Lisa P
  • 21-Jun-2011 at 12:47 PM
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Quiet fills

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2011 06 211246
  • 3
  • BruceM
  • 21-Jun-2011 at 1:40 PM
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we had 3 sets of single prints and a/d was almost at 7 to 1...so I was selling into that....luckily a late start today otherwise there would have been losses....a retest of 85.50 will fill in the second set of single prints

1287- 1289 needs to hold back any rally...that is peak volume and POC is up there...last weeks high is not attracting buyers above there...that is critical

also we have had no 50% back test today and you will not get that test on trend days...I'm not in the trend day camp anymore !!
  • 0
  • BruceM
  • 21-Jun-2011 at 2:47 PM
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shorting 91.75..i know 95.50 looms above but will try for 89...
  • 1
  • Lisa P
  • 21-Jun-2011 at 2:56 PM
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With you short at 91.75.
For us: 1.--high volume prints, 2. - NQ is at resistance, 3. wide range move without pullbacks.
Against us: INDU has a gap close not too far (12,248)

Click image for original size
2011 06 211453
  • 4
  • BruceM
  • 21-Jun-2011 at 3:45 PM
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as per dalton:

"I’m only looking at the POC for the afternoon rather than the full day; when a market converts from trend to rotational I treat the rotational market as a separate day or auction."

makes sense to me...that's why I attempted those higher sells..
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