US Market Nov 2, 2010

By Lawrence

ES AH range 1180.75 – 1191.25

With Fed meeting today and election coming up, not much can be done except trading the morning bias only.

e.g. ES opened within previous day range even though it gapped up, and PP is at 1183 (4:15 pm one) and way below (4 pm one) =)

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Comments
  • Lawrence Chan November 2, 2010 at 10:53 am

    If OR low + VWAP cannot hold the price down from here, another run towards previous day high is in play.

  • Lawrence Chan November 2, 2010 at 11:09 am

    NQ stronger than ES in terms of relative position to their previous day range.

  • moneymonkey November 2, 2010 at 12:04 pm

    Downside gap fail to fill this morning, now waiting for FED.

  • moneymonkey November 2, 2010 at 2:00 pm

    R1 and previous day high tagged before FED announcement.

  • Lawrence Chan November 2, 2010 at 2:29 pm

    Previous day high tagged and the bias is now used up.

  • yamen November 2, 2010 at 2:35 pm

    There are still several upside biases in play now though right? (OR expansions, time slot highs etc)

  • Lawrence Chan November 2, 2010 at 3:29 pm

    Yes. The only reason to not expect more is that it is getting close to RTH close and that the election and fed are still hanging above many people’s head.

    The bias points to close either within OR and/or a new high in 3 pm.