ES 5-8-13

here is my basic areas..short on time for this video but we are set to open in Value...

ideal buy zones are 14 - 16.50


and then 08 - 1610


best to use 18 - 19 as a magnet today and be sellers up near the 23 - 25 zone

revising first buy zone to 16.75 - 17.50...then other zone will be at the 14 ....not sure if they are gonna give us those yet

magnet area is strong so far...

revising the zone up doesn't leave alot of room before the magnet zone is nearby...I would prefer the buys lower ...ideally at least 2 points lower than magnet zone but have no choice here

since we opened in value we can use range projection idea...so look what happens at 10 points aftre a swing high or low

range projection off the current low gets us up to 1628.50 and R2 is there...but will still watch the 23.50 - 25 price zone

I couldn't find any edge this morning yet but In hindsight I perhaps should have looked at yesterday as two separate distributions..with the 19.25 low volume as the dividing line...

with the Pivot at 18.25 it would have made for a good zone but thought that would have been a better magnet

so may have goofed up !

an open inside value that drives out in the first period can be tough on faders. we are one time framing higher and we had a single print below now...I took one failed short near 23.75 but will take multiple stabs above the 25 and also at the 28.50 if it prints...I'm hoping the form a potential second set of singles to target below.

trading near a big number like a weekly R1 level can be tricky especially given all the trend clues I mentioned. So I am trading lighter...sometimes they like to push out the stops by 2 points or so above/below those areas...something to keep in mind.


A cool day for anyone who has read my stuff over time...because it shows that some days you just plain mess up and miss the good trades and take losses on bad trades...so that 18 - 19 area was a mess up..

see how the break of the Ib made the second potential single print on the day....and right into our first key upside zone

Always helpful Bruce. Thank you.

good probability we will retest the 24.25 print...the question is how high will it need to go to shut off the buyers and attract sellers

that 28.50 projection is in reach...trying to be selective up here

anything above 26 is third single print zone

30 minute ranges and volume are shrinking as we approach that R2 and projection area...It's frustrating when you have an idea of what SHOULD get retest ( like the 24 area) but cannot find a way to get in the market

there has been no tests of a previous bracket low yet either....!!!

that one miss trade messed me up today...

4 trades - 2 stop outs and two 1.25 point losers so far

I know I need only one good one to make it back and make money today..

1.5 time the IB is up here too...

according to Mind Over Markets on page 76 the range estimation is good for a 10% variance on each side...so people using that would snap a zone 9- 11 points off the current low given that yesterdays range was 10 points

so besides twice the Ib we have the R2 and the projection in the 27.50 - 29.50 band...

I sure would like them to push it further then that 2.5 down points off that last high of 27.50..that LVN and single prints still sit under current prices and the POC is up near the highs

look how many poor highs have formed the past 4 days only to have them broken the next day...so that 27.50 certainly doesn't seem to be SAFE to hold shorts against longer term

this is the area I have been waiting for ( the 24's)and I must admit kinda nervously as I made some mistakes today and I was focusing so much on that poor high...

I am exiting all here and ending the day Ok after making a few poor trades and sloppy analysis earlier..

not holding any runners with that poor high above and us hitting down into vwap and that LVN area

this is also the weekly R1 again..!!