Thursday, February 19, 2009

Thursday 02/19/09 - Clockwork

The setups I look for are turning up like clockwork everyday. I'm actually tired of posting the TICK divergence setup on here since I've already posted about it numerous times, and have successfully traded it in real-time. I think it's a solid setup, and it works in the current market conditions. Of course markets change over time, and what works this week may not work next week, but I'll continue until I see a change. On this end, I managed a +$250 gain by shorting 2 contracts at 788.50 around 10:25 AM. I exited 1 contact at 785.50 for +3 pts, and the other at 786.50 for +2 pts. I was expecting a gap fill, which happened later in the afternoon. Overall, I think it was a relatively easy day to trade (with emphasis on the word relative since trading is never easy, but compare today to the chop fest of Tuesday, and you'll see my point).

Looking at the 15-min ES/VIX chart, I'm still slightly bullish. Lets see how tomorrow goes. On to the charts...

Gap filled by 2:15 PM (central)

ES/TICK (3-min)
Where is TICK spending most of its time? Below zero-line. Where is ES spending most of its time? Below mid-point. Bears are in control below mid-point, Bulls are in control above!

ES Market Balance (5-min Day Session)

TF Market Balance (5-min Day Session)

TF/TICK (3-min)

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