ES Wednesday 2-29-12

Numbers and my plan for this morning

really need to WAIT until we get SOME push away from that open and that 73 area from the O/N before doing anything to be in a lower risk area...I'd like to see the plus 2.5 print and will watch for developing air pockets to help pull the trigger

i c no reason why we shouldn't return to the open print today...so we can start to be agressive above 75 but only if you have a plan to sell higher with core trade ideas

my shorts are starting at 76.25...air pocket below at 75.25......will sell higher above O/N if needed

buy at any dip is a must. All Bulls are looking to get to 77.50

Bruce,
Thank you for your videos

I am a visual trader and to see what you are looking at on the charts means so much more to me than just having numbers posted.
TY

The following is nothing to be concerned about during the trading day, but I wanted to point something out to you so you could respond later (even tomorrow morning), right now is not the time..

in your video, Is that blue line really a 2 day VWAP?
It looks more to me like a one day VWAP (especially because of the way it JUMPS at the beginning of Tues session.

The Yellow line looks like a VWAP accreting for the week (thus making it a 2 day vwap as of yesterday's close). I think this because when I look at the SDs of vwap, they have the contour of the yellow line.

I am not giving you $%^&*t. I am merely pointing this out so that I can understand more clearly.

The videos are great

added at 77 even..targeting 74.25...right above high volume from today

we know where plus 4 and On high was...

runners only working now ....


Paul..thank you for the feedback....yellow line is the combined two day VWAP....blue line is just vwap from yesterdays trade and other days...


I'm just a beginner at these videos and make lots of errors...sometimes it takes me 15 minutes to make a 4 minute video...LOL...as I goof up lots........


what is nice about that vwap chart is I can see the prior days closing vwap AND the combined vwap

they were waiting to see what bernanke had to say before flushing it down...great sell up in that area

final target for me is 70.50 but think they may revisit 75.50 before that...hope not....if so I will look for sells again above that and use the 73 - 74 as a target

There is a gap in the data at 73.50 so if YOU think you have caught a good long then the air pocket and the gap in the data will ultimately act as a magnet to help pull price up..

personally I think we are better off closing our trade software down and just doing research outside the 90 minute time frames. So just pointing that out. Good luck