ES Tuesday 10-11-11

The following resistance points are created from trade on 9-20 and 9-21.

1193.75 Low volume

1200 key number

1205 - 1206 Low volume and the best low volume number as we move up..assuming we move up

support points are created from Mondays trade at :

1186 - 1188 low volume

1182.50 peak volume - I will not use this area for entry

1180 - 1181 low volume

1175.75 - 1176.50 low volume

71.50 - breakout point from overnight trade

as usual the low volume is where the better trades are at.

Honorable mention to the 1214 - 1215 area in case we really get a move up

ES moved back down to test 50% 1187 area.-- long 1187.75 stp 1186.50.
ES now trading 1189.00 @ 13:02

Originally posted by sandoxe

So far ES has retrace to 1187.75 or 50% from 1180.75 low @ 08:50 to 1194.00 high @ 10:45
I wanted to buy there but it got away from me. Will see if comes back for a retest and if my buy set-up is congruent with it. I will buy. It's going to go back to test that 1194.75. I got to wait for a good set-up.-.
Will see.

ES now trading 1191.25 @ 11:47

ES moved down and got my stop, lost 1.25 pts . Today I have lend to the market $ 162.50

ES now trading 1190.25 @ 13:24

Will go to lunch and come back for an other try.




.

Originally posted by sandoxe

ES moved back down to test 50% 1187 area.-- long 1187.75 stp 1186.50.
ES now trading 1189.00 @ 13:02

Originally posted by sandoxe

So far ES has retrace to 1187.75 or 50% from 1180.75 low @ 08:50 to 1194.00 high @ 10:45
I wanted to buy there but it got away from me. Will see if comes back for a retest and if my buy set-up is congruent with it. I will buy. It's going to go back to test that 1194.75. I got to wait for a good set-up.-.
Will see.

ES now trading 1191.25 @ 11:47

these comments are made about logic and not specific trade setups.

This morning we essentially tested the peak volume price from yesterday and we have tested the upper edge of the bell curve after busting through it and it has become support in the 86 - 88 area.

The peak volume price from today is 91 while yesterdays was 82.50 so we are having volume come in to the market at higher prices.

Structurally this is pointing to higher prices into the end of day time period.

as usual anything can happen and does....I'm just pointing this out from a market logic view.

This post falls into the "fun" category as we can still have our key areas and trade them regardless of what we think SHOULD happen.

from 83 to 87 is still wide open to close in Y or N

you sitt here and look at this picture of it

bring 2 days together == 2 bell curves

sorry Della missed this earlier..I was in a trade...I got this from 9-21...I basically ask the following question always:

When was the last time we traded near the current area that is closest to todays date ? Then I just look to see when we traded above the current market last...this was 9-21 so I begin looking at either my notes or my volume profiles in my market delta charts..

Originally posted by della

bruce did you get 94 from 9/21 and or 9/19

I disagree..two days gives you high volume at 83.75 and a bit higher....two days combined gives you a real fill in spot only at 85.75 - 86....so that is the test to watch...if that gives way then they will push it back for 83.75 and lower..

all those players that supported the 86 area...what happens if they no longer are interested in buying....? We will drop down to the high volume..

Originally posted by della

from 83 to 87 is still wide open to close in Y or N

I look at the two bells like this....

one is bounded by todays highs and the 1186...with 91 area as peak volume


the other is bounded by 86 and 1180 - 81 with 83.75 as peak volume

great see that thanks alot

new video Steidlmayer Volume Strips: A New Method to Analyze the Markets http://www.cmegroup.com/education/steidlmayer-volume-strips-video.html