ES NQ 10/29/2010

By Lawrence

ES YM NQ 45-MIN_20101029_092604

This picture is a good illustration of what happened yesterday. NQ is messing with people who trade ES only and do not take cue from the other indices.

See the trendlines? All 3 indices are doing their own swings.

Today the AH down move is completely erased in both ES and NQ.

That implies breakout mode for RTH.

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Comments
  • Lawrence Chan October 29, 2010 at 9:54 am

    NQ previous day high tagged. The initial upside bias is used up at that moment.

  • miniflowtrader October 29, 2010 at 10:21 am

    Just curious, what is that second chart super imposed over ES on the second pane?

  • moneymonkey October 29, 2010 at 10:57 am

    Pivot break went short at 1179 stop at 1181.

  • moneymonkey October 29, 2010 at 11:16 am

    Stopped out at 1181.

  • Lawrence Chan October 29, 2010 at 11:39 am

    The reverse engineered price level for the price to maintain the current trend in its momentum indicator

  • Lawrence Chan October 29, 2010 at 12:00 pm

    Remember this – month end op ex.

  • moneymonkey October 29, 2010 at 12:07 pm

    Re-short break at 1178.5 test overnight 50% and encounter major buy action scratch the trade at 1178.25.