ES Wednesday 10-12-16

28 - 30 is first support ....for early trade and the daring....making a video now of numbers I think will be in play..so I'll edit this post ...no midpoint for two days in a row....will this be a third day ? I'm not betting on it...

EDIT :I needed to make some revisions after firing up my profile charts and my Market delta.....key one being that I think 26 - 28 is a better zone then the 28 - 30.......a problem area and a real pain is that 32.50 - 36.50...a big zone and lots of mess and numbers in there...best to use the 32 as a first target ...video explains the rest...yesterdays profile is real ugly and Dalton would probably say that it needs to be repaired....so expecting some upside especially if they can firm up above 36.50 and build support...

hoping to make this a short day and don't expect any opens and drives to last in the market...meaning that often after an open like yesterday they will give the illusion that the same thing is going to happen....but that usually just sucks in the wrong side traders....so should be a good day for faders....




and a hard copy of the lines I think are most important for those who don't want to hear me ramble and want to match up their numbers....keep in mind we have a 96 % chance of getting to 36.50, the pivot or the S1 at 19.50....

Its funny you say that... I am leaning more towards shooting for the O/N mid only after a miss or 2 misses and not look for it everyday

two contact short from 30.75.....going for full gap fill at 28.50..........out of my time and breaking some minor discipline.... I think it's because I need to go out and paint and don't feel like painting today

not a bad idea considering it's our worst probability coming in around 80 - 82 percent

Originally posted by NewKid

Its funny you say that... I am leaning more towards shooting for the O/N mid only after a miss or 2 misses and not look for it everyday

I'm still holding my 30.50 short but the bigger plan was to give this plenty of room due to the fact that I was hedged with my long options......this was an experiment for me that didn't really work very well and it seemed a bit confusing to me ( I also had a big drawdown on the short side even though I had those calls).....my ES contracts were losing more then the spy long options were making........so I'm leaving the ES shorts on for that 28.50 target in the overnight now

this is not an idea I was very comfortable with and don't think I would do it again....I'm just a grunt trader and my mind doesn't handle complex ideas well....and this wasn't really that complex....bottom line is that I didn't enjoy this......luckily my wife watched most of it as I was painting.....that was no fun either ....LOL... c ya in the morning...hoping to see 28.50 target in overnight and the sooner the better