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Tomorrow's chart


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Tomorrow's chart

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  #101 (permalink)
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........if we stay above the first fork, off we go to the 1374 levels!



option A






Happy Thursday Everyone!!



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  #102 (permalink)
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@arnie, can you post your MultiCharts session statistics panel tool?


Hi Mike.

Sorry but part of that study is custom-made and for obvious reasons I want publish its code. If on the other hand you are talking about pivot calculations and their extensions I have no problem in giving them since they are basic stuff.
The pivot range is the one used by Mark Fisher and their extensions, well, I guess the extensions are my idea since I never saw anyone doing this. Just add the pivot range to the high and subtract it from the low. That's it!

Regards.

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  #103 (permalink)
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........if we stay above the first fork, off we go to the 1374 levels!



option A






Happy Thursday Everyone!!




So far so good!






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  #104 (permalink)
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No time for a chart right now, but I am looking for 1340 Friday on ES, and I think there is a very good chance we will break below 1335 and look to test 1324.

The JPM news should help move this along.

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  #105 (permalink)
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  #106 (permalink)
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My charts for tomorrow

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  #107 (permalink)
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ES a couple of scenarios and some reaction lines:


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  #108 (permalink)
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Here is what ES have done during the first hour.

Volume was crazy, going 54% higher than yesterday for the first hour.

We are trading at the pivot range. 17.50 must hold so we can gain confidence to go up to IB's high.


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  #111 (permalink)
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Looking for the Confluence possible Bull @ 1295.75


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  #112 (permalink)
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Gabriyele View Post
possible Bull @ 1295.75

It met your target with a low of 1294 - good work!

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  #113 (permalink)
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For Tuesday, I am looking for a retracement back to around 1325, followed by a move down to around 1285-1290.

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  #114 (permalink)
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Move up completed, now looking for a downward move Wednesday.



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  #115 (permalink)
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Move up completed, now looking for a downward move Wednesday.



Mike

There's a good chance you're right but I think we might get a couple more points on the upside before it drops....might not happen but would like to see it.

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  #116 (permalink)
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For today we have had so far a very small ON range which will facilitate the break of one of its extremes during the RTH.
Prices have been trading right on the upper extreme of the pivot range.



Looking at the ON profile we can see prices right above that yesterday RTH LVN.



Finally, looking at the RTH profile, we see some support around 1307/08.



So my idea, at this moment, is to look for a break of the 14 area (right below the ON low) that might generate sufficient sell pressure to bring prices to the 07/08 area, not only testing that apparent support that has been forming for the last 4 days but also that 08 area coincides with the base of the pivot range seen in the first chart.
Also, the composite for the last 6 days shows a VPOC right at the 08 area.

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  #117 (permalink)
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My view.



1) Head and Shoulders, not that I really care
2) Inability to set new highs
3) The Sunday gap was immediately sold fast and furious, and this week once again inability to set new highs
4) No divergence on delta

So I still believe another wave down is coming. Looking for 1290 as T1, 1280 as T2.

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  #118 (permalink)
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This is what I see for tomorrow. ES pullback to 1340 looking for buyers



@Bigmike. For your #4 indicator, is that a cumulative bid-ask delta or a uptick-downtick delta?

I want to thank you for creating a wonderful forum.

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olevkat View Post
@Bigmike. For your #4 indicator, is that a cumulative bid-ask delta or a uptick-downtick delta?

Use a space in my name, @Big Mike

It is bid/ask.

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olevkat View Post
This is what I see for tomorrow. ES pullback to 1340 looking for buyers


Excellent call !!!!- exactly what they did!

The ran it down to 1338.75 at 11:34 to grab the stops!
(Too bad I was so tired I forgot your call by morning - oh well

Great job!!

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  #121 (permalink)
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Use a space in my name, @Big Mike

It is bid/ask.

Mike


Hello Big Mike, thank you for the clarification. So sorry for the typo.

Here is my humble prognostication for tomorrow:




large sellers today at 1350, equally large buyers at 1340. Which side will win tomorrow?

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  #122 (permalink)
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Here is my humble prognostication for tomorrow:




large sellers came back into 1350, continued selling into the short covering at session close.

Anyone have the GOMcd chart for today? would be nice to see how large the bid ask delta was at the uptick areas.

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  #123 (permalink)
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olevkat View Post
Anyone have the GOMcd chart for today? would be nice to see how large the bid ask delta was at the uptick areas.

I post charts daily on the SP500 thread that include delta (recently).

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  #124 (permalink)
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Today's session so far...



I just love when prices are stuck inside the IB's range. In hindsight it looks like they just flow inside the IB's main areas.
For now I can't see how prices will be able to go higher with so many obstacles ahead.
Today's VA high at 25.25, right below the open price. VPOC at 23.50 where it's trading right now. Also 25.75 is a LVN from yesterday.

We really need to trade above the pivot range, 24.75, so value can raise and prices start to receive buy interest. Otherwise we might start to drift lower again towards the lows.

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  #125 (permalink)
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My thoughts for tomorrows market:




Suggestion: Would be great if BM forum had a weekly sentiment analyzer poll on front page every weekend. Something like SnP500 will close (1) higher than xxxx on Fridays close (2) lower than yyyy on Friday close

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  #126 (permalink)
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olevkat View Post
Suggestion: Would be great if BM forum had a weekly sentiment analyzer poll on front page every weekend. Something like SnP500 will close (1) higher than xxxx on Fridays close (2) lower than yyyy on Friday close

That's an interesting idea. The weekly futures.io (formerly BMT) sentiment indicator.

But I would made it not that specific, not specifying an "x" S&P price.
For example, it would be released every Sunday night, prior to the futures opening, the sentiment for that week. Will the market close higher or lower by Friday's session end? How many bulls and how many bears? That's it.

You could also divide it by Treasuries, Commodities, Equities and Currencies. If you start to be too specific about it people will be lost in it. A simple broad sentiment would be preferable.

The size that futures.io (formerly BMT) has, I think that sentiment indicator would be interesting to follow...

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