ES Tue 8-16-11


Overnight market right in the middle of Value Area now. We have singles a mile high above us at 1272.75 and 1291.25 formed on 8/2 and 8/1.

Click image for original size
ES overnight 8/16/2011
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  • della
  • 16-Aug-2011 at 11:56 AM
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how far away can this go away from VWAP
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  • Lisa P
  • 16-Aug-2011 at 12:08 PM
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Della, often to the second deviation (green line on the chart below). In strong market may stay even above first deviation.

Click image for original size
2011 08 161206
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  • PAUL9
  • 16-Aug-2011 at 12:10 PM
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Euroland press conference starting soon, cnbc showed (briefly), the speakers at the mikes.
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  • PAUL9
  • 16-Aug-2011 at 12:14 PM
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Lisa,
was that 2nd SD at 1201.50 on the vwap?
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  • Lisa P
  • 16-Aug-2011 at 12:17 PM
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volume prety light on those swings
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  • Lisa P
  • 16-Aug-2011 at 12:20 PM
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Originally posted by PAUL9

Lisa,
was that 2nd SD at 1201.50 on the vwap?

Thick red line - RTH VWAP
Thin red - first deviation, green - second, orange - third.
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  • Zien
  • 16-Aug-2011 at 12:38 PM
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I know it's easy to comment on moves after the fact but I'd just like to point out the nice confluence from that 201.5 swing high. ES RTH high was tested, INDU gap filled and some key fib levels were hit (1.618 extension from 84.0 to 90.0 and 1.618 extension from 90.75 to 94.75).
FWIW, using Kools Price tools, the initial move off the Euro press conference was a move from 1201.5-1191.5. This gave an initial projection of 1185.5 and a full of 1175.5.

We got a bounce from the vicinity of the initial when it moved up to 91.75 from 86.0. If we get to the 75.5 area there are good odds of a tradable bounce too. No sure things though.
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  • Lisa P
  • 16-Aug-2011 at 3:31 PM
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what a mess
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