US Market 2010-11-15

By News Robot
    ESNQ
    AH High1202.752149.25
    AH Mid1197.632140.88
    AH Low1192.502132.50

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Comments
  • Lawrence Chan November 15, 2010 at 9:16 am

    Pre-mkt 10 pts range for ES.

    Right at the critical price zone mentioned in the weekly commentary.

    Wait and see game here – need ES to make a move.

  • Lawrence Chan November 15, 2010 at 10:02 am

    Bearish custom tick indices readings since open – confirming initial push towards PP as usual.

  • Lawrence Chan November 15, 2010 at 10:08 am

    PP, Gap, 4 pm close all tagged. Nice way to start the day. =)

  • moneymonkey November 15, 2010 at 10:42 am

    Go long at 1199.5 stop at 1196.5.

  • Lawrence Chan November 15, 2010 at 11:48 am

    R1 target hit from 1-2-3 buy off PP.

    • yamen November 15, 2010 at 9:16 pm

      Is this the 1-2-3 visible off 5 minute charts (a big 1-2-3, visible on 15 minute as well I believe), or something on a smaller timeframe that happened right at PP?
      Thanks LC

      • Lawrence Chan November 16, 2010 at 9:37 am

        On 1-min. Many powerful moves off PP/R1/S1 are 1-2-3 signals and they are usually only visible on 1-min or 10-sec charts

      • yamen November 16, 2010 at 1:58 pm

        Is there a proportion thing to a ‘good’ 1-2-3? I would have thought if you go down enough timeframes, most moves will show a 1-2-3 pattern, but that will result in many fakeouts?

        (I’m talking about from levels, as per macro analysis, of course).

      • Lawrence Chan November 16, 2010 at 2:14 pm

        I only look for 1-2-3 at important price levels.

        At the important price levels, they are not that common and they are pretty good as a reversal entry.

        When you are looking at 1-2-3 in general, however, they do not work well.

  • moneymonkey November 15, 2010 at 11:51 am

    Got out first part at day OR high, sell the rest at R1.

  • Lawrence Chan November 15, 2010 at 12:08 pm

    Time Map 11 am new high.

  • Lawrence Chan November 15, 2010 at 12:10 pm

    Shorter timeframe basis, the oversold condition in ES is neutralized.

    ES tagged weekly PP.

  • moneymonkey November 15, 2010 at 1:01 pm

    Wanted to go long at pull back, but had problem with real-time data.

  • Lawrence Chan November 15, 2010 at 4:26 pm

    Was not in the office since noon. Classic R1 to S1 finishing move once morning high tested and failed.

    Hope some readers caught it!

    • yamen November 15, 2010 at 9:17 pm

      Do you track both 4pm and 4:15pm R1/S1/PP/Gap levels or is there one that’s better to focus on than the others? Just curious since I haven’t been tracking the 4pm ones usually.

      • Lawrence Chan November 16, 2010 at 9:36 am

        Yes – the 4 pm one is more important nowadays because there are other derivatives like SPY, OEX options, etc. that depends on the 4 pm close.

        In old days (10+ years ago), S&P pit was the king and 4:15 pm was a powerful magnet when price moves near it.