ES Friday 8-23-13

basically looking for sells on a higher open to TARGET the 54.25 magnet...95 % probability it will print TODAY...

57 - 58 is key upside then 61 - 62 and 65.50.....then 69 - 70

video says it better..volume was lighter in all markets on the upmove yesterday


here is the video...if we make new highs before the market opens we will need to adjust the magnet price up tic for tic....

due to the pop up in price I've adjusted my maget to 57 and starting shorts at 61 here in O/N...plan will be to sell higher in RTH if needed

official magnet price is 56 but using 57 as a first target...

This is a test using Close of overnight as Open of RTH in order to get Gap numbers out as close to RTH open as possible.
all data for entertainment purposes.


ESU13...............TRADE DAY: FRIDAY, 8/23/2013
GAPS Measured to 4:15pm Settlement

Today GAP UP was 5.00 points.

GAP FILL = print of 1655.00

Half Gap Fill = print of 1657.50

1/2 EXT UP = 1662.50

FULL EXT UP = 1665.00

Gap Traders often risk a move of half the gap away from the Open
and still hold short for the full gap fill.
Half Gap extension (pressuring the shorts) means watch 1662.50
for signs of BUY STOPS being Hit.
Some Gap Traders will risk FULL gap extension before buying to exit short.
That means BUY STOPS could be triggered ABOVE 1665.00

most times when the faders have a dirve and go day like yesterday and the faders ( me ) have an early tuff time making money, the next day is usually a great one....


finals came off at the magnet...that will be it for me today...hope all do well from here

I think 54.50 - 56 holds the key for anyone planning anything further

Great calls Bruce

great Paul...thanks

thanks RB ..good to see ya back around....and it was awesome having additional comments yesterday from all who participated.

Thanks, Have a good one

those reading should realize that the offical magnet today changed and moved higher....


remember Dr. B's words..." failure to hold an Overnight range targets it's midpoint"

so the 54.50 is NOT a magnet...it could print and all that great stuff but the 56 area became the magnet...


so if we incorporate the data Paul posted we knew where the 1/2 gap was going to be today too....



they couldn't get a 1/2 gap fill yesterday and us faders had trouble....so it was much better odds that we would do well today !!

Us faders don't like to have tough mornings two days in a row...but what it really is - is that the market goes from trend to consolidation....


so I NEVER expect two MORNINGS in a row to TREND.....the overall day may end up looking like a trend day but the first 90 minutes usually doesn't look that way two days in a row,,,


Sh&t !! - does anybody get that ..?...LOL...man can I babble when inspired

go ahead and babble brother, nice clean trades like today's are worth celebrating

Hi Bruce, always love your take on the day upcoming.... where did you learn this magnet idea? do you have a book or report that one can study up on to learn to view the market like you are doing with such clear ideas and method?

thanks for all you do,
Travis