7 Jan

#eMini Trading Levels & Employment Situation Chart

Posted in Intraday Analysis by Bob English at 11:23:21 3 Comments

10:21 am EDT:  The ES sold off from 1132.50, the midpoint of today’s value area, and has now found support at 1127.50, one tick above the lower end of the projected range (1126.25 to 1127.00).  VWAP just acted as resistance and the ES looks about to test the low.  If, after this test, the ES can trade above VWAP, then it should return to at least the value area and possibly the upper end of the projected range (1135.00 to 1136.50).  If price chops around too much at the lower end of the range, a further selloff is possible.

Below is the chart promised in the morning report.

Click for larger image.

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3 Responses to

  1. sdg

    on January 7 2010 at 11:37:05

    what is the vwap value? Thanks

  2. Bob English

    on January 7 2010 at 12:11:44

    VWAP changes throughout the day. If you use TradeStation, you can download an indicator from our Free Resources section. As an aside, closing VWAP is the final VWAP value from the previous day, and does not change until the end of the next day.

  3. Tweets that mention #eMini Trading Levels & Employment Situation Chart | The Precision Report -- Topsy.com

    on January 7 2010 at 13:04:44

    [...] This post was mentioned on Twitter by Bob English, CVRepublic. CVRepublic said: #eMini Trading Levels & Employment Situation Chart | The Precision … http://url4.eu/14RMK [...]

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