Day Trading the E-mini Futures

[TheNegotiator 13]

haha, no interest. that's useful in its own right though if we make new lows. missed the gap close by 3 ticks after a strong open...

[joshdance 10]

haha, no interest. that's useful in it's own right though if we make new lows. missed the gap close by 3 ticks after a strong open...

 

You mean no interest in buying revised michigan number?

[TheNegotiator 13]

No I mean that it didn't push further up and beyond yesterday's close.

[joshdance 10]

gotcha -- looks to be rounding out a bit here, at yesterday's low, decent volume buildup

 

edit: I bid 10 and was filled, and saw it pushing back to the lows, and bailed 09.50 ... looks now to possibly have resumed move up, wants to be in yesterday's range.. arg

[TheNegotiator 13]

Yeah maybe. Not sure though as expanding rth balance from last thurs has us well within balance. we'll have to see i guess.

[joshdance 10]

Yeah maybe. Not sure though as expanding rth balance from last thurs has us well within balance. we'll have to see i guess.

 

I don't see the "well within balance" from last Thursday's to today's profile. Don't worry about a chart, but all I see is heavy volume up to 10.75 and then pretty light from there on up, and we are north of that at the moment.

[TheNegotiator 13]

1/19 to today. Either way, I suspect if new lows aren't made soon and yesterday's close is taken out, we'll be looking for a test of 19.50 area. IF(lol)

[TheNegotiator 13]

Or it could break to new lows. Or it could threaten either way and not go anywhere.

[joshdance 10]

That pretty much sums up the possibilities! :missy:

 

I'm looking for 09 to hold .. if it does not, I think we see 1305 .. spx chart, there is no support below here until there really

[TheNegotiator 13]

Yeah and actually, if it does make new lows, I have a feeling we will be gunning for a test of 1296.75.

[joshdance 10]

Yeah, seems like maybe the 03-05 well might be going dry at this point...

[TheNegotiator 13]

Option 3 then if VWAP goes.

[joshdance 10]

bought 10, stop is 08.75, needs to go now, looking for 19s

[joshdance 10]

bought 10, stop is 08.75, needs to go now, looking for 19s

 

Too much push with too little result for me at 12.75, so I got out 12 for +2 .. had much higher expectations and maybe it will still go, but three lower highs is not appealing.

[TheNegotiator 13]

Lower highs, lower lows. Hence I shorted just below the 13.25 at 12.50. Won't necessarily hold and hold unless it is really going some. Good that you took something mate and it could've gone higher in fairness.

[joshdance 10]

Lower highs, lower lows. Hence I shorted just below the 13.25 at 12.50. Won't necessarily hold and hold unless it is really going some. Good that you took something mate and it could've gone higher in fairness.

 

You might have a good one here... 08 needs to print for you though; but even so, they will probably sell 12 this time, so i guess we have to just wait and see who's stronger

[TheNegotiator 13]

I'm really only looking for another test of the 7's as I feel it could well still hold up.

[TheNegotiator 13]

Meh, out for 9's. Maybe it'll go but I don't wanna be short into what I consider good support. If it snaps it could be hard. If it carries on, I don't mind a re-entry.

[TheNegotiator 13]

Renko illustrates the point of balance pretty well(imo).

 

[joshdance 10]

Renko illustrates the point of balance pretty well(imo).

 

Point of balance? ......

[TheNegotiator 13]

Sorry. Illustrates my point about it being balanced(with slight drift lower atm)

 

Also look at the profile and how flat the vwap is.

[joshdance 10]

Ah yes, I understand now. And agree about the VWAP. Failure to reach 12.50 or so here would mean a win for the shorts IMO, and will probably take it to 03-05.. just my opinion of course, but it's a bit of a tug of war at the moment.

[MightyMouse 12]

Ah yes, I understand now. And agree about the VWAP. Failure to reach 12.50 or so here would mean a win for the shorts IMO, and will probably take it to 03-05.. just my opinion of course, but it's a bit of a tug of war at the moment.

 

Es is just brutal. good thing you took your 2 dollars

[joshdance 10]

Es is just brutal. good thing you took your 2 dollars

 

Yeah, this is not a market which is convinced and there's lots of fighting going on... if 08 holds though, and bulls start to get confident, watch out 1319.

[TheNegotiator 13]

Gotta take into account that we are in a 7pt range so far in the middle of the volume development.

 

 

Anyway, gl and I'm gonna leave it there for the moment.