ES Friday 10-21-2011

Et tu 1215?

Lv area at 1218.75 from over night could mossey its way back dow there before open

also 16.25 was overnight LV

remember the long term auction point in the 23.75 - 25 area for fades today!!

1223.75
I'm looking at it as the previous high on the current contract(late AUG high I think)
Large scale 50% level is 1215-16.5 area
62% level is 1249-50, break and hold 1230.75 initially targets 1239 and ultimately 1263 for me
Since 1185-87 didn't hit yesterday watch for 1209 1212 1215 and 1219 to hold or be broken.
Pattern wise it can't break 1209 if going higher(but I'm just one interpretor)
Stocks are clocked at the close,not the open.
Higher lows above all those levels in O/N and I count it.
So holding the 23.75 the mark for higher and looking for the spike higher,but aware of the alternatives and the R in this area

thanks bruce, they seem to be battling over that area to see who gains control

what numbers are you looking at above the current area? the dec contract does not have enough volume when going back a few months

Originally posted by BruceM

remember the long term auction point in the 23.75 - 25 area for fades today!!

30.50 - 31.50 Nick....!!

got it, but i meant above those recent highs

whenever you are free, no rush

Originally posted by BruceM

30.50 - 31.50 Nick....!!

Under that is a lower high. 1130.75
Sorry I don't remember, but someone pointed out DJI needed a return to 11720 area. Kudos
11650 under
if remains above 11650 I'll be using 62.5 and 125 increments for S/R levels as I don't chart it

bell curve to form around 1227?

I was thinking of a scenario we painted here Wednesday but did not played then. That scenario is unfolding now. The numbers are still the same. 1236, 1244 and possibly higher. The market must hold above 1229.00 on any retrace or it will be a sign of weakness and I will be selling!

Will see, in due time the market will show us the way,

ES now trading 1233.50 @ 10:24 E.T.

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


Right now, next hours, next days, next weeks, next months and next years to come, I see for you the same I see for my self: Having the very best of luck, fun, and incredibly profitable trading experience!!

Thx Duck, I think 1230 was a very reasonable exit.. I didn't see any resistance@1235 or thereabouts... though LV, it was a fresh BO.. but the 10pt move from opening and a short to 1230 sound reasonable...

Have a good weekend all!