ER2 still non responding to the top trend line touch on YM and ES. I guess I'll just trade YM today, ER2 is being handled. I think a long setup may have potential if we get a trendline break with an entry on a 50% retrace of the trendline break. Things still look choppy and in the channel though. SOH for move. Watching trin,,,at bottom of day, maybe wait for breakout and look for tick lows.
trendline broke on ES, looking for long with a 50% retrace, trin broke down,, ES may take off at 1325, but only take pullbacks.
ER2 can be very tricky when the commercials are working their large held positions. The ER2 can be too thin at other times so I mainly stick to the ES/NQ/ or YM. We had a really clean "delta" divergence with a shift for entry, as we failed for the third time to break below the 1322's with any conviction........... http://www.charthub.com/images/2006/09/22/ES_317_VB_9.png
You can study MP (Auction Market Theory) for free here with an introductory course by registering.... www.ioamt.com . There are price levels in every market where in the past there have been large percentages of the volume distributed at.....to know these is very important imo. http://www.cbot.com/cbot/pub/page/0,3181,1168,00.html Flat now..........lunch time......... http://www.charthub.com/images/2006/09/22/ES_317_VB_10.png
we are at 50% retrace on ES from trendline break,,,LONG??? 1323.00 I'm too much of a coward, ER2 still is under the line.