ES 4-30-13

Most important is the ledge, O/N low and single prints in the 1584- 85.50 zone....that is key support...the problem with that is yesterday had very low volume as we approached the bracket highs. We also have high probabilities to return to fridays close when we open inside the range of last week at some point.

I think we will see some selling today as long as we can stay below last weeks RTH highs.

My initial plan is to try to buy into the key area on a drop from above if we open above that ledge area ...I plan to keep my buys light today due to my downward bias...I will also look for sells on a weak push above last weeks highs preferably in the 88.75 - 90 area.


Busy day here with some sick children so I'm lacking time again. Hope all do well.

lots of concepts on this one....wish I could have got to it earlier but hopefully someone will get something from it

there's only one more trade idea for me today and that would be to try and sell above the VA high from yesterday - above 91.50 if they can actually push that far....I'm not convinced they are done using that weekly high from last week but have no good ideas to use it a second time today..

quite often you will find that if they come out of one side of a Value area or enter it from one side and then can push all the way through it and COME out the other side you will get a good fade....It's almost as if the 80% rule traders get satisfied and start to cover....

so in today's example , anyone who bought under the VA lows of yesterday will have a nice profit if they can go get the VA high...so they start selling to cover up there ...we can join that selling with a good signal...the tricky part is that we know those key highs ( the 93's) aren't far away from yesterdays VA high

value is overlapping to lower today so i think it is still best to try and find the short side.....the Overnight high is here now for the more aggressive traders

Appreciate your videos and concepts Bruce. Good to have you back.