NexusFi: Find Your Edge


Home Menu

 





ES and the Great POMO Rally


Discussion in Emini and Emicro Index

Updated
      Top Posters
    1. looks_one tigertrader with 248 posts (470 thanks)
    2. looks_two Private Banker with 215 posts (418 thanks)
    3. looks_3 Michael.H with 58 posts (72 thanks)
    4. looks_4 Big Mike with 56 posts (72 thanks)
      Best Posters
    1. looks_one tigertrader with 1.9 thanks per post
    2. looks_two Private Banker with 1.9 thanks per post
    3. looks_3 Big Mike with 1.3 thanks per post
    4. looks_4 Michael.H with 1.2 thanks per post
    1. trending_up 194,676 views
    2. thumb_up 1,529 thanks given
    3. group 37 followers
    1. forum 926 posts
    2. attach_file 631 attachments




 
 

ES and the Great POMO Rally

 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257


Private Banker View Post
It'll be interesting to see if we get an attempt for at least a half gap fill. Looking pretty good so far but a long way to go. Nice divergence bounce of the lows. TICK's appear to be trending higher but can't break above 800. Highest I saw was around 763.


IMO, last chance for the professional gap to be filled / partially filled before we trade down to 1200.

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (Daily)  9_27_2010 - 3_11_2011 gap.jpg
Views:	155
Size:	169.0 KB
ID:	33498  
Follow me on Twitter
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
ZombieSqueeze
Platforms and Indicators
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
60 thanks
Funded Trader platforms
43 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
 
 
Private Banker's Avatar
 Private Banker 
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863


tigertrader View Post
IMO, last chance for the professional gap to be filled / partially filled before we trade down to 1200.

Looking like ES could roll over again. 1285's were hit overnight. ES is now struggling with 1293's which is half way back from the same anchor point high's as yesterday (1308). Looking for 1272's now if there's follow through.

Started this thread
Thanked by:
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257


Don't think it will roll today - range day with market mired between the PP and S1 but an upsloping VWAP - market probing higher. Market is probably near term oversold and needs to relieve that condition, shake out some shorts , and trap some new longs. $TRIN below 1.00, uptrending $ADD, and strong TICKDJ confirms underlying strength. I think you will have to wait untill next week to see 1272.00...but we will, indeed!!!

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (15 Min)  3_11_2011.jpg
Views:	138
Size:	64.8 KB
ID:	33501   Click image for larger version

Name:	^TICK (1 Min) _ ^ADD (1 Min) _ ^TRIN (1 Min) _ ES 06-11 (1 Min) _ ^TICKDJ (1 Min) _ YM 06-11 (1 .jpg
Views:	142
Size:	196.3 KB
ID:	33502  
Follow me on Twitter
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257

Next resistance is R1@ 1298.00 - if the market gets above there, we will indeed test the bottom of the professional gap @1301.00 but not get above 1302.00. Big seller at this level.

If the market were to trade and close above 1302.00, we would have to to take into consideration, that the downside breakout may have been an FBO and a bear trap...but I seriously doubt that.

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (15 Min)  3_11_2011.jpg
Views:	166
Size:	181.3 KB
ID:	33513  
Follow me on Twitter
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257

Scale up seller here to 1301.00 Touch the gap, then the market takes a c##p.

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (15 Min)  3_11_2011s.jpg
Views:	160
Size:	82.9 KB
ID:	33540  
Follow me on Twitter
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257

Should be the top! Stop @1307.25 - 2.5X ATR

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (135 Min)  3_11_2011tl.jpg
Views:	169
Size:	174.4 KB
ID:	33541  
Follow me on Twitter
Thanked by:
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257

Make that 1/2 way into the gap, and then fail.

Attached Thumbnails
Click image for larger version

Name:	ES 06-11 (Daily)  9_27_2010 - 3_11_2011 fail.jpg
Views:	165
Size:	174.6 KB
ID:	33549   Click image for larger version

Name:	ES 06-11 (30 Min)  3_11_2011.jpg
Views:	186
Size:	135.8 KB
ID:	33550  
Follow me on Twitter
 
 
David_R's Avatar
 David_R 
San Jose, Ca
Legendary Market Wizard
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
Posts: 1,582 since Nov 2009
Thanks Given: 2,335
Thanks Received: 2,524

I'm wondering if we are ready to fail and fall. I for one never thought we would back this high, but I guess when the powers that be decide to do something they do it. There are arguments for both sides. I try my hardest to not have an opinion and let the analysis or the market speak. Attached are a couple charts with one scenario to consider that is not as bearish. Comments are always welcome.

David

Attached Thumbnails
Click image for larger version

Name:	ES_daily_120.jpg
Views:	165
Size:	387.9 KB
ID:	33615  
Visit my NexusFi Trade Journal
Thanked by:
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257


David_R View Post
I'm wondering if we are ready to fail and fall. I for one never thought we would back this high, but I guess when the powers that be decide to do something they do it. There are arguments for both sides. I try my hardest to not have an opinion and let the analysis or the market speak. Attached are a couple charts with one scenario to consider that is not as bearish. Comments are always welcome.

David

I think it is necessary that we take a more holistic view of the market with an emphasis on price action. There are two particularly significant factors worth noting. The market is no longer rallying on good news, and tech stocks are leading the way down. This tells me the bulls are no longer in charge, and the stocks that have fueled the recent asset ramping, are no longer going up. In addition, action in long term treasuries and market internals confirm a defensive to bearish posture.

While Friday closed 11.75 higher , the price action was a classic response to a large professional gap down day, trading approximately half way into the gap and selling off. If for some reason, however, the shorts were to allow the gap to be filled, we would have to consider that this sell off was a false breakout, and a bear trap. Barring that from happening the odds are in favor of the market trading much lower.

Follow me on Twitter
 
 
tigertrader's Avatar
 tigertrader 
Philly, Pa
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader
Trading: ES, ZB
Posts: 6,482 since Jul 2010
Thanks Given: 6,662
Thanks Received: 36,257


Tuesday - FOMC Announcement *

Wednesday - PPI

Thursday - CPI

Friday - Quadruple witching / options expiration *


* March opex-as a rule has a bullish seasonality,

* FOMC day- in general has a bullish seasonality going into the announcement

Follow me on Twitter
Thanked by:

 



Last Updated on November 9, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts