ES Tuesday 11-18-14

We hit the 415pm lower band yesterday in RTH and both 4 and 415pm bands in ETH

Paul, do you filter your cumulative delta in any way...large orders vs small orders for example

My charting uses uptick / downtick as a measure for Delta. I haven't seen strong divergence in that as of yet. I did see some momentum divergence up here and some vol drop off on s shorter time frame.

I think Bruce had the right idea to scale in and then scale out when possible.

44 print is final for me...I know last weeks highs is nearby..

No, I don't. I have more time looking at cum delta than I care to say. OHhhhhhhh, I looked at filtered trades needing a minimum in order to register....
There is only one thing I look for now... a market going sideways or higher while cum delta dropping (if lots of people are hitting the bid but price is not falling, then someone is accumulatiing a long position...

I call them a pop and drop because in the first 60 minutes, if this pattern unfolds, there can be a pop higher to crush the bid hitters and then just as quickly, the big money that accumulated the longs while the bid were getting hit, they abandon their longs and go short.

the exact opposite... loflat to lower prices but aggressive lifting of the offer can result in just the opposite, a drop and sometimes a pop...

but the first scenario is the better of the two.

I do not look at cum delta in any other way. Believe me I have exhausted too much time on delta The two patterns above are the only ones I look a and that's only for the first 60 minutes

this being option expiration week maybe that stuff with CD one way and price the other had something to with expiration Friday.

Here is today's 3-min Footprint chart without any filtering by volume. I am not sure how to read any of this (I only have some basic understanding) as I am still trying to learn it so if anyone can shine some light on it, it would be very helpful.

This might also help us identify Aladdin's open and drive days maybe?

Nice assessment on "Delta" Paul, I think you are right on. That delta can give you a lot of false signals, it's understanding whats happening at the time and knowing when to apply it. that's the tricky part.

i am curious Bruce, was the 46.75 your first short? or did u have tries at 43 and 45...43 had nice confluence with r1 and prior highs

i did not try the short at all today, and missed my buy spot at 40-.5-42 on that mini pb at around 9.40 et, so looks like i may go tradeless today

I tried a short at 43 and failed. I took it for the reasons that apk mentioned. 45 and 4.75 were my next spots to take shorts at but I did not take it.
I am curious to hear Bruce's answer too :)

An example of an open drive that failed was on Friday 11/13/2014: