ES / VWAP Update

So far, so good for the early stages of today, we had pretty broad indications and thus far they are playing out, if the other half of the indications play out just as well (and longer signals are more reliable), then we should have a great game plan. This is the difference between reading headlines that were long ago discounted by Wall Street and following price from moment to moment and reacting to situations in which you don't have any idea and having an idea, laying out a trading plan and trading your plan. Or to sum it up more succinctly, "Letting the trade come to you rather than chasing it", take that a step further to portfolio positioning and management and it's quite an edge.

Here's ES which is like a mini market update, except looking at what big players are doing, thus far there's no contradiction in the analysis...

 ES / 3C 1min is seeing some price movement a we expected to see early on, it's also seeing a lack to any 3C confirmation, also along the lines of expectations.

 Here's the ES 5 min chart, this is where we have an important dividing line with the market averages, the move straight down in 3C on this chart this morning is encouraging, it seems to confirm the entire thesis of the idea put together last week, yesterday and this morning, price strength is being used to dump by bigger investors.

 The daily ES VWAP...

The Weekly ES VWAP, I'm betting on a move toward the upper 2nd standard deviation of VWAP.