ES Tuesday 6-28-16

key lines from yesterday first...keep in mind I left the 2011 line on the chart even though we didn't hit that....we also have the 2014 - 2016 area above...those are weekly lows


now the same chart with overnight action




keep in mind that we did not hit the overnight midpoint yesterday so that could be a focus for today

for me the plan is to try for shorts to go get 2005.50 this morning and will use 2010- 2011 and then the 2014 - 2016.50 as fade points..current Overnight midpoint is way down at 1996

one error..on yesterdays chart I should have the 2005.50 low time spot snapped....to make the upper bell curve that would be first target off the 2010 - 2011 zone...the 2002 - 2000 is more of a zone and magnet to me as that doesn't have a clearly defined center


so here is updated chart

with the R2 at 2021.5 and the R1 at 2003.5 you can take the midpoint of those and use it as a rough guide to see which one might print....as for me I am leaning short with very minimum rewards so far...I do like how they poked above the 2016.50 and seem to be failing....I'm trying to trade from zone to zone on my fades so a fade from the upper zone of say the 14 - 16.50 for example would ultimately have me trying to get back to 2011.50.....

here is a pic of the low time spot ( air pocket ) as per todays profile

we need to see trade stay inside YD highs as long as possible in order to have a shot at our 05.50 number....I'm hoping that the rally up was nothing more than the shorts covering ( the ones that sold early yesterday ) and not new buying...we'll see. ...a good day today and I'm not initiating anymore....c ya tomorrow