End of day review 4-19-11 Tuesday

On a side note I'm gonna make the EOD post more about how the day met my expectation and the trades that i should have or i did take as opposed to what the day did. I keep a hand written journal now for my market reads and expectations for the day. I will keep doing the Pre market analysis as this sets up my morning so i am prepared for the open. So for me today was pretty boring. I'm trying to look back and see where i messed up and where i should or could have traded. I took a short this morning that hit my target of 2 points but i didn't fill so that sucked. See the 3 min trades chart for the rest of the trades. As for my expectation on the day compared to my morning analysis i came in neutral to bearish and was expecting sellers at the 1304-1306 area which we got so nice call there. then we rotated down to support where i was expecting buyers to be active due to the balanced day unfolding. We ended up testing the 1309 level at the close and this was a possibility as well. 

Pre market analysis 4-19-11 Tuesday

News: Housing starts @ 8:30AM

Trade plan: ES had a big move down yesterday and regained all of the RTH losses. We traded down to 50% retrace of the bigger rally and found buyers there. Globex has pretty much put value in the same area as yesterdays value not giving me to much of a bias. So i will be neutral to bearish on the day looking to be a seller at resistance and a buyer at support. Also with the lack of catalyst out for the day we may just balance in the globex range and yesterdays range for the day baring any earnings reports before the open that may move the market. At the 1304.50-1306.50 level im expecting sellers to be active as that would be testing the lower value area of recent range. Also at the 1309-1311 level. A break above that would be a red flag to sellers and i will not be looking for shorts above that area.