What a day...Range-bound chop for better part of the day, followed by an unexpected rally into the close. Now, although I didn't anticipate the rally, I did manage to pick up on some clues that kept me from shorting it. Here's why I didn't short into the afternoon up move:
1. on the pullback, Price remained above mid-point
2. Price rejected VWAP (Support)
3. ES rebounded back to trading above the Initial Balance (1st Hr) High
4. Positive NYSE TICK Divergence
5. 1139-1140 was an area of acceptance
I put together the Levels last night in a hurry, but they still worked out pretty well and helped me obtain good trade location. The arrows marked on the 5-min chart for today are the trade sequences I took (Short, Long, Short). Lets hope the Retail Sales data out tomorrow morning shakes things up and brings some volatility back into the market.
In other news, I attended my last lecture at DePaul tonight! I have final exams next week and then I'm DONE! This past year has been really tough with full-time work, full-time school (5 classes), trading, blog, etc. and wrapping up school is such a relief! After next week, I'll finally be able to get some sleep :-)
ES 5-Minute Chart
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKqghdFKA18Gcrs2Lr2MCQEMXwH_HeHfEZ2swaqZvCsKlcg9E_ZVdJk7LynmQFUZd0VpsXqlyFOCwxTzZrf9SHkpxBoK0ZCRlUI3NHTiEiti7_YNfr-ilJizzz1BKpCNoG3DTR2xMuvmc/s400/20100311_ES_5Min.gif)
ES 30-Min Volume Profile Chart
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgd2LvBluevFDpo7OQ9h0m-dYeGywHF51wUBxKex_G1yiUct6wzsAgmxbtpu4K_2EFqs1rS6wUlYMY_5qIWkv4NX2qypVcHbNknvTV1DTM5bKPXjuUJ0JM1WfHfwml5O1RWtnL8d5jtZkQ/s400/20100311_ES_30Min_Profile.gif)
ES Day Session Volume Profile Chart
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW-nlCaHrQqbFO10yGcVlBheypLtrfEq-AOZxciU9fHEkBHLDHFpXonNnPh3dgtEK3t7MZIn9NIKefEOdUVBWV9BoExjkQmKzRMPfH5cMegydAn-rJnWVhyqqvIzA_q8XUdyfedolhRNY/s400/20100311_ES_Daily_Profile.gif)
Screw sleep !! Go have a beer !!
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