ES Journal Archive (2011)

135 is the high magnet to attract to

 

really??? well, i certainly respect your experience with the whole option-pinning thing but for the life of me i can't see how you're getting this ... looks to me like major put support starts at about 130 and major call resistance at about 131 ... what am i not seeing here?

 

this is not about pinning. It is about moving to the outliers and mean reversion. Indicates a cap around 135 and then reversion back to 130-131 for front month.

 

1330 is being defended by large orders every time it's touched.

That makes sense -- easy to keep the market up under low volume conditions such as these. To that end, I wonder if this is the launch pad for the next leg up ...

 

More striking ... NDX is UP, SPX is UP while

$DJT is DOWN, $SOX is DOWN, $VIX is UP, and breadth is negative

huh.

 

Good Afternoon Traders!

 

Awaiting your pin call lol

 

Both NQ and ES have their open gaps right above.

So close now they will act as magnets.

 

looking at 1338.25 -1338.50 as the high of the day.

Anyone else have a similar number?

 

my other scenario is up until almost close with a high of 1342