ES Wednesday 3-12-14

two possible support points I'm using this morning and those are 57.75 - 59.50 but more important will be 53.75 - 55.50...I think there are good odds that we revisit 64 - 65 and hopefully that won't happen before RTH opens...if on long fades from either lower zone use 62 as a first target just in case we get resistance at VPOC of 2-28...upper target if real lucky today will be 69.....if wrong on long idea then we may see 49 and lower today


here is how the upper portion of last week looks against what is happening this week...concern on long fades will be that this is balance within balance so we know that can lead to trends



and here is the day we are opening up inside of 2-28-14



and finally what the On session is doing as I type

closing right at it makes the short trade not as attractive...still doable with the right signal but I'd be more cautious..

the context is here..having a lower VPOC than last week and the shape but always skeptical at this time of day...even more skeptical than lunchtime trading....gotta watch that developing weekly vpoc close as we approach the last 45 minutes

nice ledge at 62.50...I'm gonna hunt near this 65 - 65.75 VPOC for a short but if no signal comes and we print 67 then I won't trade any more ....very tuff to trade as a vpoc develops

oh well...nothing doing for me....this just seems like shorts covering as we approach the 4 pm cash close...good luck

a ledge on the bottom and now a double top...gives you a clue that nobody big is in here.....I'm gonna assume that as long as 64.75 - 66 holds then we will make new highs before days end...otherwise they are just toying with us in here

good odds they may take one more stab to print 68.25 before days end again at 4 pm or later...same zone still needs to hold as support..I may even try myself from 67 or under!!..need to see what happens under 66.75 if they push that way first.to try the long..crazy trading days end..I rarely do it

well ...and so it goes...I required that to dip down to 66.75 or less first..so even though it did what I thought it might I didn't take the trade...now I'm just wondering if they will come back for the 66.75 with 7 minutes left to trade....

Bruce, when you mention you did not get a signal, what type of signal are you looking at to execute ? Thanks, and great day today.

APK

signals like these APK....this chart is 1 hour off....so eastern time is really one hour behind the posted times at the bottom.......and forget the bands for now.....this has also been rolled to June hence the difference in prices...you need to add 7 points approximately to these to coordinate the numbers I was talking about

Originally posted by apk781

Bruce, when you mention you did not get a signal, what type of signal are you looking at to execute ? Thanks, and great day today.

APK