ES Tues- wednesday 11-13/14-2012


Cool...It's usually a high probability to expect the RTH session closing price to be trade back to in the O/N session.

Currently Tuesdays close is 71.25 and we have not traded back to it YET in the O/N session...The O/N is trading at 74.25 as I type so we have a three point spread. I'm not a huge fan of trading at this time but it might be something to watch for tonight. Good luck if ya stay to play..!

the Va low is at 75.25 from RTH and daily pivot is 1374.75!
great call on 62 up to 67.

Bruce, do you ever view 'air' on a 30minute bar as a target?
thanks Paul... I sure do because that is the official single prints and the grand- daddy of all air pockets....Us MP traders are taught to sell on retests of single prints...so if I am long from below then it makes sense to use single prints/ 30 minute air as a target ...

the other thing I am keeping in mind is this question "what is the formation or range extreme that traders agressively bought or sold through which then created the air pocket...?

still air is on the charts today up into the 1369.75 low from yesterday afternoon ...look at the 30 minute chart...with a bit of luck they will go fill that in still
we have a double top right at those two 30 minute highs at 68.75 - 69 so I am buying spy calls 139's for 88 cents....reason for this is that we have minutes at 2 pm and I just don't want to initiate es trades in front of this now
if these hit 55 cents I will add to them...otherwise I will sit with them....options expiration as paul said...funny things will happen..
added in at 53 cents///target will now have to be 88 cents ..THE ONLY good thing is I can hold these O/N without worry...so any loss is capped at about $140 per contract
They are doing it again. Fridays settlement is 59.75 and the current On low is 60.50...price is up at an old VPOC of 65.50......other key area is 70 - 71.50...

Last time they did not test the previous RTH close in the overnight but slammed it down in the RTH session...bottom line is it is a high probability to see a retest of last weeks settlement price. Now all we need is the energy and/or patience to stay up all night and trade