ES Tuesday 7-15-14

don't have much to add today....with the pivot and close in the 71 area that becomes my magnet today.........the fact that we couldn't print the midrange of Yesterdays overnight session leads me to think that they will print last nights overnight midpoint today....it's just the way I think and how it usually happens....so no buys for me up in the R1 - r2 zone which is 73.50 - 75.50...only sells again........i also had 74.50 as a key upper zone on yesterdays chart...so I will start small and early in the overnight now...

secondary sell zone will be 76.50 - 78.50 but don't know if we will need that......it always bothers me when we don't have test of breakouts....so that Thursday high at 64 - 65 ( Friday was inside day) seems to be a longer term magnet still........the same way they eventually came back to the 59 - 60 area last week.....

good luck today i'm hoping to end it all quick

i think that 67.5-69.75 is the line in the sand...above it, we have more of the same and shorts are tough (unless u r bruce !)...77.5-78.5 is the last reference on the upside and i think that if that 67.5-69.75 holds and yest vpoc (71.5) as well 74-75 won't stop the charge today and we will visit the ath

below 67.5 i think we are headed to that 64 area bruce mentioned and a 62.25 gap, so u can call that a zone and i like longs there for a move back to that 67.5-69.75...if for some reason 62.25-64 fails, i have 58.25-60 below

yellen speaks at 10am et so beware of any sudden moves when her speech is released

good luck today

Bruce, I have little doubt that some day we will see ES prints at 64, But here is something I noticed...(besides the fact that we are very close to the all-time high print of 78.25 which was a poor H)...

Monday's RTH was a range gap out of a 4 day balance, and the high of the 4 day balance was ...1868.25
1968.25... this was the level that had stopped upside on 7/8 and 7/9...

The 7/8 RTH H was 1967.50
The 7/9 RTH H was 1968.25

These highs were tested in the M==>T overnight with a swing LOW of 1967.25, it was a DB when a total of six 5 m bars printed a low of 67.25.overnight...
I'm only saying this because I see that high looming above... to me, it is screaming for a test.

starting new rth trades at 74 print ...plan will be to add higher if needed... midpoint of O/N range is ultimate target....but we should expect gap close fill today to possibly give us some grief....so watch 71-71.50 as a first target

I think as long as the O/N midpoint is below the pivot number we should at least see the pivot print if / when this drive higher runs out of steam...my plan is to add at 75.75 if it prints...perhaps u buyers are gonna smoke me good today

Is this an open drive?

FWIW-

Yellen testimony today

yes

Originally posted by Aladdin

Is this an open drive?

Thanks, apk.
As per Dalton: trying an open drive long with target way up above 1978.

can it be called open drive if its only 3pts wide?

average price in is 75.25.....gap in data at 74.25 and this is hitting the plus 4 - 5.5 zone now....

yep, one of the reasons i had that 58.25-60 as an area below

Originally posted by sharks57

It seems 1958.50 to 1958.25 is a high volume node on a 4 day merged profile using 7/8 thru 7/11...