ES Friday 4-10-15

Bands for the day. Good luck to all.

We finally broke through the highs of 4/6, 4/7 and 4/8 to consolidate above 2083. The O/N low so far is also 83.5 which means that the market is accepting these prices for the time being. In the RTH open if we succeed in defending 83 then the next upside targets are a greenie at 97.5, the psychological level of 2100, a very wide POC at 2102.75 and then finally the all time high at 2110.25.

If we fail to defend 83, then it is back to the mid-sixties and the lows of 4/7, 4/8 and 4/9 in the 66/67 area. That level is now also getting weak so if we get there, there is a decent chance we go get all those single prints below in the 50s.

The open will hopefully provide us with some clues

I made a mistake. The O/N low is at 83 even which is just a tick above those 3 highs. Also the O/N data shows a lot of swing lows right at the 83.25 level so this was defended rather vigorously last night. Should be an important level to watch as this is going to be the line in the sand.

Since the EURO IB high (86.25) was taken out, price has not tested the area. May be setting up for more long, I just don't know how, where or when quite yet, we'll see. Maybe we bounce off there to get long, if it doesn't quite fill the gap.

+5 was good but I didn't get filled.

buying 89.0 looking for 91

mike the 5 thing.. so i have order at 91.75 short with buy stop at 93.25..other order at 81.75 long with stop at 80.25..or do i wait till we get to that area and see what happens? thanks in advance

duck

ps do have the orders in already

I have them in place, same as you. Good luck

Originally posted by duck

mike the 5 thing.. so i have order at 91.75 short with buy stop at 93.25..other order at 81.75 long with stop at 80.25..or do i wait till we get to that area and see what happens? thanks in advance

duck

ps do have the orders in already

Big Mike, what time are you using for the Euro IB?
SHouldn't it be 3 AM ET to 4 AM ET? (futures open earlier than cash)

Fairly poor participation so far. No real buyers or sellers in the market...

2-3 AM Central time

Originally posted by PAUL9

Big Mike, what time are you using for the Euro IB?
SHouldn't it be 3 AM ET to 4 AM ET? (futures open earlier than cash)

at this point i am planning on selling the O/N high or buying the O/N low, whichever comes first..

Yup I did but with a loss at 95. Have good weekend