ES Tuesday 8-20-13

Both NYSE and SPX had lower volume down days yesterday...here is NYSE chart



...most times they don't just blow through to 50 ema...without a reaction up so I'll go out on a limb and say that today we will put the low in first and the high later in the day..unlike Mondays session


1646.25 is my magnet price today is the ES and I am hoping that will be the half gap fill but we are 25 minutes away from the opening so I can't calculate that yet...

1644 - 1646 is my first zone if we open above there...I am hoping we open above there.....next good zone below is 38 - 41 for possible support.....


other areas I am using are 48.50 ...50.50 and 53.25...best sells will come with a push into the 50.50 or the 53.25 and we will need to be more aggressive if we just go up to tag the 48.25 and roll over back to the magnet at 46.25.....gap players will want to try to get to the 44.50 close so I'd like to be out ahead of that


For me the only GOOD buy points come off ideally in the 38 - 41 range...

some will be trying to buy in the 44 - 46 area with a higher open but I prefer to use that as a magnet zone.....

here is how my chart looks as we approach the open...hoping for early sells but expecting an up close today !!

49.25 would have to print by the 4:15 close in order to have the IB test probability filled.....it will be interesting becasue we had 50.50 as a key number earlier today......lets see who has more power !!