ER2 Analysis

[TinGull 10]

Here is a volume profile with a monthly value area for the ER2 (eMini Russell 2000). Notice each wave of highs we are making them lower…Our next push could to the value area high for this past month. We finished up trade inside of a low volume area at 799 and at 802 is the VAH, as well as that trendline from the highs. We certainly will have a tough area to get through at that 800-805 area.

 

 

Also, on our profile charts our TPO count was 182/133 favoring the sellers by a not huge margin, but not small. ER is currently trading near the value area high of 797.2. If we come back into value before the open (existing home sales data at 8:30) I would look at possible shorting opportunities on a retracement at VAH or the POC. 797 has been value area high on 1/17 and 1/12 as well. It’s a tough nut to crack. IF we remain above, look for a quick selloff to VAH and a possible long there.

 

The ER moves very very fast. There’s no time to think about the trade, you just need to take it. With the 34ema sitting around 797.50, a selloff in the AM to VAH would be a perfect long opportunity and look for a couple points, up to around 802.

 

[torero 10]

TG, can't you make the chart bigger, I can hardly see your chart with details are sooooo small LOL :p This is the composite of how many days? Looks good, just need it a tiny bit bigger, big buddy :-)

[TinGull 10]

hehe...yea, i gotta work on that My stupid monitor is so big that it looks teeny on it.

 

The composite is of the last 31 days.

Thanks T!

[torero 10]

How many inches is your monitor? Must be a Mac monitor huh? Typical Mac User!! LOL

 

May I suggest using this:

 

http://www.faststone.org/DN/FSResizerSetup24.exe

 

Way cool tool for resizing your images. Love it. Can't blog my work without it.