ES Friday 7-17-15

Good morning to all. YD the market had a fairly narrow range (~8 points) and the O/N action so far has been contained in the top half of that range. So everything has been pretty quiet of late so should be an interesting day today.

YD we had a prominent (wide) POC at 2114.5 which means that now we have 3 prominent POCs (2114.5 from 7/16, 2103.25 from 7/15 and 2088.75 from 7/13) that have not been revisited. This is exponential information so I am curious to see how this plays out. The odds are that these are a lot and at least one of them, if not 2, should be revisited soon. We shall see.

On the upside we have 3 previous highs (2122 from 6/22, 2120.25 from 6/23 and 2117.5 from 6/24) that are fairly close to each other. Each of them very likely have stops sitting on top of them which means that it is always a possibility that there could be a triggering of those stops moving the market up pretty quickly. This is known as the firecracker effect by Dalton.

From a greenies POV the only upside greenies 2117.75 and 2118.25 which were both touched YD. Nothing else left on the upside.
On the downside you have a greenie at 2114.5, 2113.25, 2105.75 and 2103.75.

Everything I am reading online indicates that everyone and their uncle is expecting a sell-off today. So we shall see if that does come to fruition or not.

Good luck to all.

NK,
I posted some stats about OpEx gap fills in Thursday chat

and you are right about everyone expecting some downside... makes me question whether anything will happen today HA HA HA.

Paul, I read that. Thanks for sharing. I like the odds you listed from 2012. It makes me nervous when everyone agrees on something. That is never a good sign.... we shall see how today plays out. good luck to you

sometimes, the crowd prevails

self fulfilling prophecies are always wonderful :)

patience is a virtue i severely lack.... got YD's prominent POC successfully.... next potential target to the downside would be YD's low and then the gap fill 2107.75
A true liquidation break should take us there... if this was just a fake out, then not

it's just the two of us NK.

ANYONE ELSE HERE?

Post something just to see who's here.

NYSE $TICK has not been able to print a number above -0- yet

no lurkers even? lol...

thanks for the TICK info... thats definitely not a bullish sign at all

Yeah, But once they get all the short term longs shaken out (right now) a counter move back up to 17.00 can unfold

$TICK has printed positive

that could be a nice opportunity to take the short on the pull back

well this OpEx day has been pretty uneventful so far. let us see what the close brings us