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ES and the Great POMO Rally


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ES and the Great POMO Rally

  #551 (permalink)
 
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 Big Mike 
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tigertrader View Post
Needs to get above the VWAP and accept, and we'll be well on our way to a reversal day.

Odds are on the bulls side for a reversal day.

Mike

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  #552 (permalink)
 
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 Lornz 
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tigertrader View Post
If anything, it's trapping shorts! Consider them trapped, if the ES trades above 1242.50.

This is the second time today, in another thread I wrote call when I meant put.... I meant to say shorts, of course!

Funny note, I went short at 1244.50, I have a tight trailing stop in place...

I am really not sure about where it will close today, though. We're due for some up movement...

As I write this, I just got stopped out. 4 points isn't too bad... Entered long at 1242.50, we'll see...

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  #553 (permalink)
 
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Nice call @tigertrader, looks like we are confirming a reversal day with lots of shorts trapped below 1240, and we'll safely not break any 27 year old "streak" of down days.

Mike

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  #554 (permalink)
 
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 tigertrader 
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Lornz View Post
This is the second time today, in another thread I wrote call when I meant put.... I meant to say shorts, of course!

Funny note, I went short at 1244.50, I have a tight trailing stop in place...

I am really not sure about where it will close today, though. We're due for some up movement...

As I write this, I just got stopped out. 4 points isn't too bad... Entered long at 1242.50, we'll see...

ATR is running around 4.8 - I'm using 1.5 ATR stops.

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  #555 (permalink)
 
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 tigertrader 
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Big Mike View Post
Nice call @ tigertrader, looks like we are confirming a reversal day with lots of shorts trapped below 1240, and we'll safely not break any 27 year old "streak" of down days.

Mike

Look for the slope of the VWAP to go positive and pullbacks to the VWAP to be supported, and we'll have confirmation.

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  #556 (permalink)
 
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tigertrader View Post
Look for the slope of the VWAP to go positive and pullbacks to the VWAP to be supported, and we'll have confirmation.

Yup. I don't trade the ES, but I think you are spot on.

Mike

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  #557 (permalink)
 
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 Private Banker 
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I don't know if you guys listen to Ben Lichtenstein's Trader's Audio but today was very spot on as he was calling out big paper buying at the low's and adding all the way back up. Pretty wild day. I was expecting a retracement higher before we saw any selling coming in today. Just got to trade what you see on the screens of course.

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  #558 (permalink)
 
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 Lornz 
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tigertrader View Post
ATR is running around 4.8 - I'm using 1.5 ATR stops.

I took off half at +5 points.. Caught a nice wave down in CL today as well, so I'm quite happy for the day.

I've been up 9 nine hours and not eaten or had anything to drink yet (that's the downside of trading to many markets and time zones), so I think I have to remedy that. I feel lightheaded...

Now, if only the market could pass while I eat brunch, I'd be all set...

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  #559 (permalink)
 
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 tigertrader 
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Looking for the initial move to carry to 1263.50.

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  #560 (permalink)
 
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 Big Mike 
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tigertrader View Post
Looking for the initial move to carry to 1263.50.

For those of us who don't use MP, can you explain this target?

Mike

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