The ES is still moving up to the 1286 area to restest and possibly of a move to 1294. Bias up holding at 1271 and a possible retest area of 1279 before we move up or if we break 1279 area we should retest 1271.
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The ES has been moving up and out of the 1250-1288 range. I had a meeting yesterday so I didn't prep for the morning. I had 2 trades on 6/28 that where ok but I could have exited better. Yesterday I had two afternoon trades. The first one was a quick exit and then I reenter after it confirmed direction by holding 1297.50.
The ES is moving up but very stretched. I'm watching for a reversal around 1310 and possible break of 1304.50(micro Bias) which should then move the ES down to 1292. A hold of 1304.50 and the ES could move up again. But watch for the 1310 area for a stall or hold.
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Again we are still stretched to the up side. Bias up at 1312.50 area so I'm looking for a break or hold of micro bias. A hold and we retest the highs, a break and we start the correction of the leg up. Area's to watch for reversals if we start to correct. 1304 and 1292
Yester day I missed one trade opportunity and ended up with zero trades.
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The ES is still stretched to the max and close to resistance at 1340 area. The key today is 1328 (micro Bias) a hold and up to 1240 a break and we start to corrected and move down to 1313 area or 1295.
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Today's prep is pretty close to yesterdays. The key is 1328 a break and we move deeper and retest 1314 or 1292 before we leg out and retest highs. A hold and we retest 1342 and stay sideways. Watch for a higher low in range for a hint that 1328 could break.
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To many entries and reenters I need to take the risk. I went break even a few times and got low ticked. I had direction pegged with good entries but no profits and only commissions.
ES 9 trades 1 mistake 4 losers and 4 winners +.25 and a lot of commissions
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7/7/2011 Es held 1345 and moved up to retest 1353 area, one scratch and one Profit.
7/8/2011 ES moved into correction with the Jobs report. The first trade was early and stretched down, I need to wait for the test of micro bias before going short. My winner was a short at the hold down of micro bias.
7/7 +2.50
7/8 +4.00
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ES stretched and moving lower. Key area are 1325.50 (micro bias down) a break of it and we should get a move back to 1329 area for a test of old support. If we hold this look for the ES to move to 1317 (full volatility) or 1312.
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