US Market 2010-11-16
By News Robot| ES | NQ | |
| AH High | 1196.00 | 2127.25 |
| AH Mid | 1191.25 | 2117.25 |
| AH Low | 1186.50 | 2107.25 |
Trading Edges That Last
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Likely target is gap #6 mentioned in weekly commentary.
Key to trading a day like today is to notice that the day has opened far away from previous day range. It is a very low % of all trading days.
After 1st 30 mins, as the ORH acted as resistance, the trend sell formation is in place (as mentioned at the time) and that dictates the direction for the rest of the day.
Easy ride =)
Still with 2 pm slot, if we get a new low before 3 pm, then home run by close likely.
First target morning low tagged.
Reaction here will be important.
NQ did not make a new low. It is also stronger in percentage terms than ES.
yen clearly anticipating a rally from ES soon.
3 pm – not much can be done unless you are in a position already.
Am still waiting for a new low print in 3 pm slot.
My home run. XP
From this point onward, the mkt must act directional.
That means morning low must act as resistance.
Statistics bias are now used up.
Time to get other things done.
Not bad for 90 mins of wait time.
Finally get a chance to see the close.
2% drop buyers stepped in, we can expect by tomorrow in RTH the 1% price level will be tagged.