- After thursday and Friday's plunge, we had a quiet day finally. News has dominated the markets so far with the president and fed governorship.
-Anyway quiet days give for quiet trades. So took a long, it seemed sellers were taking a break today, so i faded the second down tick, supported by divergence and a trend-line break. The trade was slow in the making however, it seems buyers were not ready to step up yet. That was confirmed with the pivot failure later in the day..

conclusion.
- shorts in play, but was able top squeeze out a long, hoping for a throw back rally to R1 or R2...

Tally:
+3 Es points ( $150/contract)

- The lower high scenerio on the daily and 1 hr charts played out breaking the 1130 mega support.
- I was not available to take the trade, whic obviously could have been huge. Anyway, between missing a trade and losing money, i'll take the former, any day.
- I however saw an opportunity to back test the S1 from S2 when a divergence presented itself. see 5 min chart. Being the only trade i took for a day trade, i ended up flat. I thought i hold through my target 1 which failed miseably.

Tally:
No gain..

notes:
- ES is at the 50 ema, which might give support for a back test of the falling wedge on the daily or the 20 ema.. We'll see how that plays out.
- The plunge though had the huge volume and closed at lows. Goog sell off as well. So tomorrow might be a gap down day, then an opportunity to get back in for some retests. I'll be watching for that. Fridays can also be tricky after a big move, ending with no much conviction on either side.

- The good 'ol days seems to be back. Big intra-day moves that could translate to big profits with the right mind set and strategy.
- Today was a big downer,over 200 pts in the Am, with currencies and commodities help.
- I noticed a divergence along the big support levels of 1130 on the SPX. That offered a trigger buy with a trend-line break. My stop the 10 ema.

conclusion:
- day-trade long @1128
- Target1: VWAP/ Previous Lows (red dotted line)
- Target 2: S1
- extended Target 3: 200 ema

- All targets hit..

Tally:
+4 ES points ( $200/contract)

notes:
- seems like the markets forming a lower high, that might eventually lead to a breakdown below 1130. So can't hold a swing overnight yet.
- Gold is down huge, dollar strength huge. Looking to see if markets will follow..

- Normally i don't trade big news days and to make it worse option experation, simply because too many trend anomalies and emotions . However, im happy to get back in after heads cool off.
- Well i notice divergence as the selling intensified, notice the tick gone wild, red dots. Notice the intensity decrease.
- I also did notice a a trend-line support on the daily, stacking the odds in my favor..

conclusion :
- Day trade Long @ 1128, stops lows of the day @1127.25.. Pretty small risk 1: 3
- Target VWAP @ 1133.25
- Overnight long was stopped at break-even..
- Target hit..

Tally:
+ 5 ES points ($250/contract)

Notes:
- possible break of that trend line, so watch out if today's lows are taken out in the coming days. 1130 on ES acting as a major support, now 1150 on spx acting as major resistance.

- Today was a choppy advance with buyers aggressive, see tick activity in green.
- VWAP held price all day with the EMAs 10>20>50 and an ascending trend-line intact.
- Notice the little bull flags during ascent.
- All time highs taken out , and I'm looking to hold a swing long overnight on half. Intel earnings good, so looking for a little more boost tomorrow.

conclusion:
- Long @ 1142.5 ,stops below previous day's close and VWAP
- target 1 previous high and then R1
- 1 targets hit, holding the rest overnight

Tally:
+ 3 ES points (150/contract)

-Today was a gap fill day, from Monday's drop ,see 1hr chart. Perfect fill.
- It worked as a magnet all day long..
- I have to be honest i missed the entire day today except for a couple scalps later in the evening.
-If i were to play it,it would look like the 5 min set up above.
- buy to fade an extreme down tick (red dot) or wait for the declining trend-line break and buy a VWAP breakout @ 1132.5.
- help for the trade would have come from the emas, 10>20>50 , and/or the ascending trend-line as a stop area.
- also notice the falling wedge towards the close..
- my targets are potential resistance area to pay attention to i.e target 1 (day pivot), target2 (previous days high), target 3 ( resitance R1)

Hope that helps.. Great day to trade though.

Note:
-The 1 hr could go either way, double top potential formation,unless we breakout to new highs. - - There's this long falling wedge that could trigger a correction down the road.
- Thus a close below today's low @1129, could give life to a correction..

- The corrective move i anticipates has come, not sure where we go from here , I'm just going to follow price.
- My trading system played well into the weakness, utilizing day's pivots to determine support/resistance areas and tick volatility to determine where volume's moving to.
- Thus an opportunity to short for a day trade. Support S1 and yesterday's low (dotted red line), held price down. Took a short below VWAP (dotted magenta line).
- Held through the trend line, taking some off at S2 as price dropped.
- Notice how sellers were aggressive to hit exits as tick alerts increased ( red dots) .

conclusion:
- Shorts @ 1136, stops above S2 @ 1138.
- Initial target S2 then yesterdays s2.. All target hit..

Tally:
+6 ES points ( $300/ contract)

- Today's action was caught between the VWAP and day's Pivot, narrow range
- I changed my Tick trigger to 800 to get more alerts and a good feeling of who's doing what. Looking at today's action, the buyers remained aggressive triggering more alerts.
- Thus i took a position, for a day trade at the pivot, since sellers were not pushing the exits.

conclusion:
- Long @ 1139 stops below pivot.
- targets - yesterday's highs. Target hit and exceeded.. Eeking out a 3 pointers..

Tally:
+3 ES points ($150 / contract)


note:
- longs still good, but i'm getting cautious with the Hourly macds in the negative and the posibility of some type of corrective move..

- Stops triggered on yesterday's 1/2 position @ 1130. However, the yesterday's lows (red dotted line) held given support S1 @ 1128.
- Got back in @1130 with a stop below support..

conclusion:
-Longs still in play.
- Initial target R1 @ 1136 on a break of yesterday's highs( Green dotted line).
- Stops are now below Pivots 1131..

Tally:
+6 ES points ($300 per contract)

** target hit tommorrow is a big day ,with big swings up or down **

- Stops have been moved to todays lows@ 1130. I'm hoping we hold those.
- Initial target met @ 1134.5, took some off, holding the rest for a breakout.
- it's now a free trade.

conclusion:
- Longs still in play. Wary of a possible head and shoulders formation on the 5 min chart..

Tally:
+6 ES points (($300 per contract)

Tick sentiment Jan 5 2010

- Yes , I'm back..Happy new year folks..
- Bullish start for the week. Tick extremes still kicking with bullish sentiments.
last day of the year recorded a down tick with a low @ 1109.75. I couldn't get myself to buy, lest a full blown correction was to start.
- Anyway got an opportunity today later in the afternoon at the 50 ema off the 15 min chart after the fade from the highs in the Am.

conclusion:
- Long @ 1128 with stops @ today's lows.
- initial target S1 1135 and target2 @ 1140 or S2