ES Wednesday 6-4-14

here is my brief view coming into today...good luck...it's so boring I found myself repeatingthe same things twice...so sorry for the repeat..

I noticed that Dr. Brett's post this am said he stands aside when the volume does not reach a minimum value. Seems prescient right now.

short at 25 reason rat # 3 point stop

stop move 26.75

stop move to 26.25 target i got is 21.75 gap in data on 1 min

fairly good volume on the bracket breakout but if these sellers can get a close on 30 minute time frame back under the 1924 area then this may prove to be just a false breakout and lead to a selloff back to the Ib high

should of listen bruce..lol stopout at 26.25

Bruce, why 1924.00? Because of the single?... Before you were talking about a 30 minute close outside IB and then a 30 minute close back down inside IB... I see IB H is 22.25... why 24?

AND, is there anyway you can trade in your REPutation points for cash or prizes?... then you could get a gift for all your posts AND start all over... LOL

Paul...I mentioned in the first minute of video that the 24 was the combined Mon/Tuesday range high since YD was inside to Monday...so a more important point to watch IMHO....It is true that I do watch the IB extremes and closes above or below those for clues but I don't think I mentioned that here on the video today....but having those singles form on the IB breakout and closing above the IB high was a good heads up for some I think today....

we just barely had muliple tpo's at the 24 number so I would want to see at least one more tpo print there and even better a 30 minute close below there to signify that POSSIBLY this up move is over and it may all just be a fake out...we've only gone about 5- 6 points above YD close yet everyone seems so bullish today...perhaps they are right but we have two sets of singles on the chart and I think at least one set will fill in now that volume is tryingto show up...either way that 24 holds the key to further direction


I like 30 minute closes as filters when looking at range extremes, the IB and the overnight range especially if the Overnight has broken out of a multi - day consolidation range...I still expect us to see 24 print again today

Thanks a lot, Bruce.

The time right now is 6:52am ET Thursday morning...

:... Now that I look at the overnight profile this morning (before Thursday 6/5/14 RTH open)... I can see how important that 24.00 level is ...and I can also see how poor the structure looks in yesterday's RTH profile. Unfortunately, I don't have a clue as to whether price moves down to correct yesterday's poor structure or whether price makes another probe higher to frustrate bears who refused to exit shorts...

If price is going to correct yesterday's poor structure, it is goig o have to undercut that 24.00 and stick...it's the sticking part that is hard to determine... When a move below a key level a doorway that opens for a flush lower and when is a move below a key level just aa Look and See before a resumption of upside. I suppose if volume comes in and price rebounds immediately it could mean another day of bears roasting in the summer sun. THX