ES Friday 12-16-11

Here's what I've got for my ES MAP of PASR ZONES using a 30min chart of 20 days of data coming into Friday's trading. The Red lines are potential significant levels with Magenta lines as semi-significant. The White dashed lines are the Weekly Pivots. The Green line(s) is an unclosed gap level. The Light Blue Volume Profile of the past "rolling" 20 days is displayed on the right vertical axis. The Gray background shows non-RTH price activity. Hope, as always, that this is helpful to some as a "MAP."

Don't forget it's Crazy Friday Witching Day ... lots of atypical crosscurrents.



As for levels above and below current trading as of the post:

1233 Fib cluster / Minor PASR / Daily R2
1229 Wkly Pvt / Minor PASR
1218-20 PASR / Trendline down on 30m chart
1207 Minor PASR / Fib Rtc / 1 to 2 Day VolProf LVN
1202-04 Wkly Pvt / PASR / 20day VolProf Low Volume Area

three potential single prints (one confirmed, two on deck)...massive volume from 09-11 with the peak at 10.5 so decent cushion into the potential fill of at least one fo those single prints

it will be a low probability to NOT see a 12.50 and 14 retest from down at these 09 levels....just watching now!

great call bruce !

Originally posted by BruceM

with the Ym barely able to get outside YD highs and the ES back under the key upper zone there is only one way to trade now IMHO.....

06.50 will be a better fade and I will take that if they can push underneath it before those upper targets print

as Nick said...this is third single print that they are trying to push for,,,,not a great idea to stay short but don't blame me if it drops to ZERO !!!!! ha!!

for those learning: look at last weeks real time lows and compare it to todays RTH high.....do u think a long term trader would watch weekly lows and highs just the same way us day traders watch daily lows and highs ? Should day traders know these areas?

just an FYI as I am trying to keep this useful

agressive longs on 10.50

Fitch, 6 Euro countries put on negative watch, including Spain and ITaly. Possible downgrade for France

I got the 12.50 fill in and runners have stops at 10.75....trying to get to 14.25...this is last trade for me today...enjoy the weekend all!

Of course they have to come up with these news right before a weekend, AND on "4 x witching" option expiration day. Good job, Fitch...

thanks bruce , enjoy the weekend