es 1-17 -13


  • 1
  • BruceM
  • 17-Jan-2013 at 9:29 AM
  • Rep: 216k
  • Posts: 19.9k
Is the breakout real ? Key question today...all those days with overlapping value with the center at 1464.50...the O/N high is right near the key 1475 rat !

This is still options expiration week so it will be more important to see if they can rally above the SPX price of 1475 ...if not we will mean revert and the best support point on the way back down will be the edge of the bell curve at 1467 area which is also last weeks highs but the ultimate main target will be 1464.50 if they sell it off.

I think it pays to try and hold for bigger targets today no matter which way you think it will go.
  • 0
  • BruceM
  • 17-Jan-2013 at 10:41 AM
  • Rep: 216k
  • Posts: 19.9k
the pitbullers are still trying to get their 1.5 points off the open to the upside
  • 1
  • BruceM
  • 17-Jan-2013 at 10:45 AM
  • Rep: 216k
  • Posts: 19.9k
back and forth through the open is never good...we want somebody to commit...I'm gonna look at volume on this next 30 minute bar to see if we dried up...if we did then I need to entertain that this breakout still has the potential to mean revert and my long bias is the wrong way to lean
  • 0
  • sharks57
  • 17-Jan-2013 at 10:49 AM
  • Rep: 2,760
  • Posts: 470
Huge Volume on a range bar around 10:41 78,117 contracts traded, more on the sell side
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