ES Wednesday 7-8-15

Interesting day yesterday. They rejected those lows quite soundly. I guess I have been away for too long and just did not see that coming. Need to sharpen up a bit again before I can do any real trading.

The O/N has been almost 100% short, so there is a good chance that those shorts cover at the open especially if they do not get paid right away.

52.5 is the O/N VPOC which I don't necessarily follow religiously but I do find high volume nodes of interest. There is also a ledge at 49. If we get down there at the open, I would think that would be a buying opportunity but we shall see.

YD's range was very wide and we are currently trading right at its mid-pt. If we open right there, I would not know what to do but I would look for opportunities to buy i think

we shall see

30 min VPOC at 57.5

the ledge at 49 proved to be some kind of support for a small bounce at least

49 is S1 on the Weekly Pivot

thanks Paul. i have to start computing all that data again

Originally posted by PAUL9

49 is S1 on the Weekly Pivot

I use correlations in the markets. Once believed in technical analysis, lost enough to realize there must be a better way. I talked about it years ago on the forum. Look them up. Events=Correlation

VPOC tested....

Originally posted by NewKid

30 min VPOC at 57.5

Here are a couple of posts that beyondMP made that I think he's talking about:

http://www.mypivots.com/board/topic/4526/3/jim-on-fuzzy-math#44250

http://www.mypivots.com/board/topic/6600/3/es-trading-for-4-11-11#78572

Out of interest, if you want to find posts made by a particular trader you can Search the Forum. In this case I put beyondMP in the "Search by Member" box and changed the start date to 1/1/2005

thanks DT. I was just looking through all of beyondMP's posts and was not having much luck. Much appreciated

Here is a portion of years ago post....

"I will quote a nearly 100 year old book, since I think Richard D. Wycoff said it best in "The Day Trader's Bible" originally published in 1919. By the way, when you read his book you find out that all the books about trading that follow his, simply, repeat the same concepts he put forth(not the method but the concepts).

He defined a Day Trader: "as one who follows the immediate trend. This means that he pursues the line of least resistance. He goes with the market--he does not buck it."

My answer is-

The market must move in the direction of your trade for it to be successful, plain and simple.

Most TA traders act, as if, TA is the cause of market movement. TA is just a reporting method, not the cause. So, to elevate your trading from just hope for movement, you need to understand the forces that move your particular market."

Bloomberg TV reporting that NYSE halting trading in ALL stocks traded at the exchange due to trechnical issues.

Originally posted by NewKid

thanks beyondMP. are the green and red boxes cumulative delta?

No, it's a combination of unrelated but correlated markets I came up with.
I used CD,in the past but found correlated markets gave me a much better edge.