ES Wednesday 10-16-13

levels I'm watching .....99.50 - 1700 is my magnet today ..1704 is upper fade point...making a new video

video =

will be watching first minute range closely today...agressive traders will sell the OR low to try and get back to that center......I'd like to see them push above that 04 number on the open.......on the other extreme is after a well formed bell takes place we can have a real breakout....so keeping that idea in mind

I'm on the 04.50 short....being careful as they kinda tested that center

I tried to sell 1705.50, missing by one tick..heres why...overbought indicator,up to the prc band, and a 2.618 projection from the 1696.75 low around 7 est.

taking something off at 02.50 just in case

if lucky runners will get 1700.50

man it will be choppy today given all the headlines coming from dc and teh deadline for the debt limit

having trouble posting my chart, will try again later but my lines are more or less in line with bruce's again today so not much to report...i might not trade today, unless i see a low risk setup

did not like that close test of the center of yest bell at the open so skipped the short form the upper edge...seems to be working but it was higher risk to me and that double tap at 706.5 was just above...anyway, internals strong (though off the highs) and tick above zero too (testing the zero line as i write)

runners stopped out...looking agin above 1709...great read Nick...ideally in the 1709 - 1710 ... if wrong we have 1712- 1713 as a bell curve center

careful as a there are news that a deal has been reached...

now with that double top I assume the buyers will want to try to hold price up off that support zone....no more trades for me....too confusing now and we have seen many double tops and bottoms stay in the market...good luck if you play up here