ES Tuesday 8-8-17

A look at the poor highs and lows from yesterday's day session against last week. Note the 3 tpo's wide just above last weeks high, also note the 2 tpo's at the lows that missed the POC test by one tic on my data. I still have calls that I sold and hoping to unwind them this morning. 2474.50 is only confluent number I see. Current overnight low stopped right at the gap in the data from YD at 2473.50. Still would like to see a test of 2471 but I think getting out of calls at any push into that 2472.75 ( the official POC from last week) is the wise choice



I'm not going over any numbers because I can't encourage anyone to trade this as a day trader but watch that first one minute volume for clues

a recap of some ideas ( one minute volume bar is NOT at open today) and the option update...some goof ups too...

gap in the data at 2476 and we have made new highs...I'd be expecting a retest of at least 2480 from above 2482...and if we can get that 2476 well that would be great

it seems like they will first need to check last weeks highs....then look back at Mondays highs...so watch what happens if / when we come back to the 78.50 - 80.50... area.....we have a new high volume bar now

if we are wrong in here then next upper zone is 2485.5 - 2487 ...that would be the weekly R2 and the daily r3

a look at the two sets of calls I sold...anything over 2485 was 1/2 standard deviation off the weekly and I am also working off the assumption that we will need multiple tpo's and the all time high and last weeks highs...so expecting them to test back for breakout points.....high risk trade and better to do it with spreads

I'd like to see a test of the 2482 as per ES first to possible lighten some of this up...lots of singles and air pockets on the chart today

I took off all of the 48.5's for a .15 profit on each contract because I was a bit early with those 48's and don't want to lose too much if we have another drive up trough weeks end

just closed others...this is how played out....beautiful tests of breakout points today....