ES Friday 11-1-13

Most important number to me is last weeks high and overnight high combo...so 55.75 - 56.25....many will be watching to see if bulls can keep closing above that high and bears want to close it below on a weekly basis...


49- 51 is big volume zone and probably still a good buy zone....under there is 46.50...


above I have 58.75 which is POC from yesterday...then I like the 62 and above 65 - 66 area


I like 53.50 as a magnet price and that is also the VA low based on Time..so sells at the O/N high will try to get to the 53.50....sells at 58.75 will try to get to 56...sells at 62 will try to get to 58.75


buys at the big zone of 49 - 51 will also use 53.50

buys at 46.50 will use 49 as the target..

basic plan.....very small O/N range so far as I type

reports at 10 a.m

here you go bruce...removed the bottom panels

great...thanks Nick...I was hoping you would come through and supersize us today.....appreciate it !!

staring a small short at 57.50 print and will probably be a bit early again

target on shorts in this zone will be the 56 number but think they may need to squeeze this up a bit more..

I'm trying to add at 58.50 and 58.75 if they come but overall this will be a smaller campaign because of those reports at 10

I started taking some down at 56.76 print...I don't want to be caught on the wrong side with those reports coming...i wouldn't have been so aggressive if those reports werern't there to mess me up if wrong

so averaging in is much different than adding to a loser...and it's only ok to hold through a report with runners...never any core holdings...as it's just a gamble

going flat into reports...if us faders are wrong they will easily push up into the 61 - 62 and I am not ready to take that kind of heat

I'm wacthing that swing low at 56.75 close and the O/N high.....if we can resolve those post report than we may be on our way to the 53.50 magnet

goingto try small sells on second break of the 56.75 swing...they already broke it once post report

the major flaw in my upside logic is this :

We started on the bear side of a bell curve today, then rallied up , took out the center of the bell into a lower volume spot above , then we dropped back down through it as if the center of the bell wasn't even there.....and now we seem to be having some trouble at the original lower edge....the 55.75 - 56.25....so I don't think it woud be a very easy drive up even if it does happen...seems like a lower probability