ES 10/08/12

Areas I found interesting this week:

1393-1396 buy area
1405-1401 sell area

30 Minute RTH chart looks nice:

Watching the 1398.25

Couldn’t believe the bulls did that at the close. They fooled bears yesterday and took their money today.

It was looking shaky and sold off violently but the price and delta have clear trends into a wedge:

NQ delta bled, normally this should drop it:

Even with the lowest cumulative tick of the day the ES held and went up during selling at 20.30 (20.30 chart time = 3.30 PM EST). I laughed when they filled a gap to the upside and closed another week up. Bulls win.

I had no position at the close. I was long a few times this week. I was long again after the open. I took it at the resistance. I had a b/e short with no tolerance past the red line.

FX and Gold had gone wild today, fat finger or not, thats in the game. GBP +100 earlier and it held above single prints with large delta downside. Euro also did a face ripper. It would be strange if the Stock Futures didn’t join the fun too. This is not August 2011 so far.

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