ES Tuesday 10-18-11

We are declining into a big bell curve that is bounded by the 94 - 95 and the 85.25 - 86....everything in between those areas is just high volume consolidation. As usual the trades we take will be based on where we open in the day session.

Other areas of interest are the 1202.50 - 1205 and then 1209 - 1211.25.

Below we have 80 - 81 and 75 - 76. You can scroll back and see previous days entries and charts but I'd really like anyone reading to find the areas on their own if they find value in these trade concepts. We don't want to depend on anyone to derive our areas.

IB data has peak volume up at 1201.50..so volume has shifted up again.....this is all theory and fun to watch but not as tradeable as I would like it to be....

so we went from 95 - 96 .50 peak volume and moved up to 1201.50...accepted higher.....but what happens if a large sell order comes in at the highs...? peak volume would not be very accurate of acceptance........theory is fun and looks good on forums but trading it is a different thing entirely

looking for sells above the 05 as we have air pocket below through a key zone...we SHOULD retest..back into 02.50...in theory...Go at gods speed !!!

Struggling today....system crushed twice..cannot recover data for last 3 days.
Could someone post volume profile for yesterday please, when convenient.

any significant news?

had failed trade at 05.50 and trying again for 06.75....09 - 11.25 is next zone above.. but we need our retest..too early for the mega trend up

air at 03.75......for target

Price found support at the old daily support trend line we spoked about yesterday. Now a bouncyrulo to the old numbers as resistance. "the old resistance numbers from last week" 1207, 1213/14.50, 1219/21, 1229.00.
ES is about to test 1209. that's 50% ret from yesterday's range. some zig-zags in the micro world 3 to 5 points in this area....
50% is important for the bulls.-.-.

ES now trading 1206.50 11:55 E.T.

Will see, and as always, the market has the last word and in due time will show us the way.

I see for you the same I see for my self: Having the very best of luck and a fun, incredible, awesome profitable trading day!!!

Originally posted by Lisa P

any significant news?

Mostly European stuff. Merkel saying they are going to have legally binding austerity commitments imposed for EU members.

Originally posted by prestwickdrive

Originally posted by Lisa P

any significant news?

Mostly European stuff. Merkel saying they are going to have legally binding austerity commitments imposed for EU members.

Right, and "monster strike" in Greece, Moody's is ready to downgrade France and Portugal... Which news of the moment will win? It ain't dull though.

Speaking of news, Goldman posted a BIG loss - GS shares are up. Go figure

I'm burned out from forum life...LOL....but I'll leave you with this today.....we had the 23.75 area marked as a long term Auction high from yesterdays thread. We also had the last low volume area from yesterday thread marked at 1217.

That news event spike blew through the 1217 without a retest at first . Some may have been thinking that my volume idea was going to fail and the 1217 was going to be passed on by. I was thinking that myself. Once we started to get back under the 23.75 long term bracket then you owed it to yourself to start thinking about the 1217 again...

main numbers as I type going into tomorrows trade will be

93.75 - 95

1202 - 1204

1207 - 1208


and 1213.75 - 1215.25 but I'm not sure that this won't be filled in before we close...we'll see

good luck!