ES 5-30-13

Jing cut me off but here is how I have it...I didn't get to mention that we have buying tails in the overnight and VA lows from yesterday at the 1642 - 1643....so a possible buy spot if we open in value today..

That will be more aggressive because we will be trading UNDER that 1647 line of volume....so buys will need to be quicker to exit down there




Be careful if we open inside and then drive above it by 4 points right away off the open ..the best short fade will find us opening inside that VA and then finding initial resistance at the O/N VPOC which is also one of the WEEKLY LVN's...so a first zone of sells can be done at around 52 - 53 as long as we open inside the VA of Wednesday

based on the Overnight only we have the time POC right at the center of the Overnight high and low..so it seems likely that they will want to test that 47 area again

volume coming in at our secondary sell zone..volume at 57.25...right at that O/N high and the VA low... first sell zone failed ...with reports it was prudent to trade lighter..

buys off the 47 worked but were aggressive..

lets see if they want to try and shake us by tagging that 58.75 vpoc...hope not....plus 10 now too..

the buyers want to try to keep it above 55 area...us sellers want that to crack in an effort to try and get back to 53 and lower...

this is back to overnight high so if you are short you would need to take something here off...it is also 4 points off the highs..

no pigs allowed...unless you have runners

the lvn of the lower distribution is here too....so IF the buyers are coming then this will be the place...I'm using 53.25 - 55 as my key inflection point as it includes the bigger LVN and the O/N highs

just went flat at 54.25..I don't like how they are consolidating at this LVN/zone....could be showing acceptance of these higher prices so my shorts are covered...

1655.50 is the weekly midrange.....thanks to Paul for that....just another reason to not trade right at this price zone....best to wait to see what happens outside one of the IB ranges