End of day review 4-29-11 Friday

Today i didn't have any time to do a morning post but i still liked the market on the long side on PBs into support. We didn't PB into any support levels other than yesterday upper value area and i didn't have any levels there that i liked. I tried a short at 1357 into my level after the move lower and retrace back up. I ended up scratching t5he trade because it wasnt following through and i didnt want to sit in the chop. It was a good call as the market continued to climb higher all day making new highs on the year once again. Buyers are still in control and sellers are no where to be found. It will be interesting next week to see how the market moves. My expectation is we go higher but lets see what unfolds instead of guessing. Here is my EOW PnL and EOM PnL as well. NJot much profit but at least im making a come back from this DD im in. Lets see if i can pull it back up and be positve for the year by the end of May...

End of day review 4-28-11 Thursday

So The session was balanced all day as i expected. Buyers were active at the first support area i had but i didn't want longs there in front of the 10AM pending home sales figure. I tried to catch a short after ES broke to new highs and couldn't bring in more buyers and broke back down below tha IBH at 1354 even. I had order at 1353.75 and couldn't get a fill. Perhaps i should have had order at 1353.50 a tick in front of the low of that consolidation area at IBH. Any way not sure that would have even filled. I like them kind of trades and i will keep an eye open for those more often. ES retraced back up into that same level where i took a short at 1354  for 3 points BSO. Buyers were all to happy to snatch that price up at 1351 area again and take the market up to new highs once again. So doing pretty good this week. And i feel pretty good as well. Just need to stick to my rules and be patient and wait for my trades to come to my pre determined areas. Context is key...

Pre market analysis 4-28-11

News: GDP @ 8:30AM, Jobless claims @ 8:30AM, Pending home sales @ 10AM

Trade plan: Market is still in a bullish context and structure and buyers are still in control. Im expecting buyers to be active still at support but only on pullbacks into support at lower levels. The reason is that sellers could just the market down to strong support at any time to retest areas below to find more buyers. Globex has been establishing value higher up and has since been trading down to yesterdays value area. So i will be looking for buyers on the open. We have pending home sales at 10 AM and we may balance before that. 

End of day review 4-27-11 Wednesday

So there was one set up for me that i waited a little too long for confirmation on. It was at the globex lows area which was a perfect long opp. I was ready for it but we got a little pop of buying and i put my order in just below a block of buy7ing and it never filled it so i let it go. So no trades for me today. The most important thing for me today is i followed my rules not breaking any of them. The market acted as i expected today with ES balancing before the FOMC announcement at 12:30PM. After that Ben Bernanke spoke for about an hour starting at 2:15PM and that was pretty much the day. Buyers are still firmly in control and it will be interesting to see what tomorrow and the rest of the week brings.

Pre market analysis 4-27-11 Wednesday

News: FOMC meeting announcement @ 12:30 PM

Trade plan: ES yesterday broke the top of the bigger balance area making new highs on the year. We spent the day establishing value above the 1337-1338 previous high of year. Globex has now traded in a range before the cash open. My expectation today is for ES to balance in a range before the FOMC release at 12:30PM. I will evaluate the reaction at that time to decide the direction i want to trade in. Over all ES is very bullish at the moment and buyers are in full control still. If the buyers can't manage to keep ES above the 1338 level we could see a FB type scenario and a possible retest of areas inside the range. I will be patient and follow my rules and if nothing sets up then i don't trade.

End of day review 4-26-11 Tuesday

The day gapped up above the previous 2 days balance and balanced in a range between my 2 levels. I can't remember why i didn't go long at support this morning but either way i didn't take the trade then ES took off to the upside breaking to new highs on the year. We didn't see a pullback until around 12 noon. So i waited for the PB to get to something strong and looked for a 1 min volume spike to get into the trade and that happened right at support so worked out well for 3 points. Over we spent the day establishing value above the recent balance area we have been in the past few weeks making new highs. Tomorrow i will be looking for longs to go with the move up but i need to see how globex trades over night.

Pre market analysis 4-26-11 Tuesday

News: Consumer confidence @ 10AM

Trade plan: Yesterday saw ES trade in a small range due to Europe being closed for a holiday.ES has been balancing in a range building acceptance at 1331.75 poc. WE are at the top of a bigger balance area and i could expect responsive sellers to be active up here. Although buyers are still in control. I will still be playing longs on PBs into support. I believe the bullish picture is still intact and that buyers will be active at every support level. If we break the highs of the year i will wait for a retest of the previous area before getting long and i am expecting sellers to be active at the 1344-1342 resistance area above. For shorts i need to see the market get tired of trying to move higher by putting in poor attempts to break the highs. Over all buyers are in control and i will only take shorts for quick trades into support targets.