ES Wednesday 10-9-13

I really enjoyed making this one today....I hope it gives some ideas of how the daily bar charts can help us...


key zone above is 57.50 - 59.50

below is 50.50 - 51.25


those are upper and lower bell extremes

watch the video if/when you have time....

taking one off at 52.50...holding one to see if I can get the IB high into the 53.50.....magnet still at 53.75 - 54.75

trade back to 47.75 stops this out..no clue from here

fascinating how they are trying to get it back inside the 50 - 51.25 LVN...and they don't seem to be able to hold above

Originally posted by BruceM

.....magnet still at 53.75 - 54.75

onvpoc has not been tagged yet.

nq is really weak, just as it was yest, so tough for es to muster any comeback in that environment...so watching nq closely

i think they will want to eventually test down to the 38-40.5 area...there might be some bounces along the way but that is where a highest odds bounce will come imo

above, we still can't get above the 24-hr mid point and opening print, so if we do then that will represent a chg of character...and that also will put us into that bell curve bruce has been talking abt, which has lower bound of 51.5, higher bounds of 57.5-59.5 and 56ish most accepted area in there...

i bought 44.75...chart coming soon...singles off IB were target...late post..

i just took my second long of the day . 1644 was the 2.618 extention from the 1652.75 to 1649.25 move a few min ago

what a mistake... stopped out and back to breakeven...

so this is why i had mentioned the 44.50 - 47.50 in my second post today......and why I was buying the 47.50 earlier today and the 44.75 after the Ib breakout



refining next number line to 41.75 - 42...to take a long off of

I'm trying small longs at 40.50.....will also try from 38.50 and critical spot will be 35.50...all small and will not be averging in...just small stabs and stop outs.....outside my 90 minute window of fun !!

whats always interesting is that so many of us have read that a failed auction on one side of a range ( a bell curve) can often go push to the other side....what the books etc never tell us is that there is no time limit on these failures and often we will see a bell curve get entered back into at some later date.....these failures happen on so many different time frames but for me it's watching those edges from different days to see if we are going re-take them and hold or reject them...

the point is that so far today is a good lesson that we can reverse roles quite often at the bell curve edges...also usually know as LVN's on different time frames

now all this babble would really have made me feel better if I had bought one of those retest into the lower edge I mentioned on the video after they rejected that prominient POC/vpoc at 54.75.....ok, so ends todays after the fact ramble