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.