Wednesday, March 3, 2010

Wed. 03/03/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures Review/Analysis
As I mentioned in last night's post, that 1125-1128 area is heavy resistance, and that worked very well today with 1125 being the high of day (I shorted 1124.50). After that, it was orderly selling down to support (initial resistance area became new support area). Price then tested yesterday's high a couple of times, and sold off down to the Initial Support area. We got a nice bounce at Initial Support back to the 24-hr session midpoint with a close right above the Initial Balance Low. I'm still viewing this as consolidation and will continue using the 1112.50 level as my Bull/Bear Line in the Sand to establish bias. This is the second day in a row with price closing below the mid-point; a cautionary flag for the Bulls.

ES 5-Minute Chart

ES 30-Min Volume Profile Chart

ES Day Session Volume Profile Chart


  1. I'm thinking of intra day comments to speculate on how the markets behaving....non trend vs trend...auctioning near an un-accepted area and the probability of rejection at that area. This vs the various twitter limited content - combined with real trade acknowledgment could provide value & discussion. "Lunch time chat room - what happened in the 1st half, and what has a chance of happening in the 2nd half. What do you think..?

  2. I think that's a great idea! I don't know if you checked out the Poll I posted on the website on Monday, but one of the choices for a value-added feature was Intraday blog updates. This goes well with that idea. We'll chat more about this.

  3. great charts, thanks for posting!


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