Today’s news slants toward the bearish side – The sharp overnight downturn is a reflection of market sentiment – I still have a short side bias.
Support and Resistance:
ES ZB
R4 1324.50 115.11
R3 1320.75 114.30
R2 1317.50 114.22
R1 1312.25 114.12
PP 1309.75 114.02
S1 1306.00 113.28
S2 1301.50 113.19
S3 1294.50 113.12
S4 1291.50 113.03
Today’s Reports:
GDP 8:30ET
Jobless Claims 8:30ET
Existing Home Sales 10:00ET
Tomorrow’s Reports
Personal Income and Outlays 8:30 ET
Consumer Sentiment 10:00ET
Thursday, June 26, 2008
Tuesday, June 10, 2008
Webinar Tuesday Afternoon
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for 10 Jun:
Friday, June 6, 2008
Unemployment Friday
Volume is building to the upside in the S&P with higher open interest. Unles unemployment is bullish, which it very well maybe, I would expect that upward trend to continue. It may mitigate a negative number as well.
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
6 Jun:
TradeMaven’s Inside Edge (TIE) 3-2-1 methodology uses 3 rules, 2 patterns, and 1 indicator. Rule #3: Don’t Fade Moves-Out-of-the-Middle (MoM’s.) MoM’s are “go with” trades that put money in your pocket. Any significant market move will start from the middle of a prior distribution. Fading (going against) this type of move is a recipe for disaster. Knowing a MoM is in progress helps you set expectations and market direction for the coming day. Understanding the correct market direction will keep you out of low probability trades and reduce your chances of getting chopped up.
The proprietary TIE Market Profile provides us with an excellent example in the eMini S&P. The short term trend moving higher has run out of gas. The MoM comes out of the distribution, accelerating to the downside. We call this “the end is the beginning.”
To learn more about MoM’s and the 3-2-1 Methodology, Join us, Tuesday June 10th at 3:30pm central time, for a Free Webinar on the TradeMaven Inside Edge.
Charles Cochran, a securities and futures industry veteran of 30 years, will explain trading like a professional utilizing TradeMaven’s 3-2-1 methodology.
To register, follow this link www.iiedge.com, and fill out the registration short-form. We will contact you with username, password and login instructions.
A Free 10-day trial is also available to TradeMaven’s Inside Edge trading room, where you can experience Charles’ market commentary beginning at 7:00am central time, just prior to the Bond opening.
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
6 Jun:
TradeMaven’s Inside Edge (TIE) 3-2-1 methodology uses 3 rules, 2 patterns, and 1 indicator. Rule #3: Don’t Fade Moves-Out-of-the-Middle (MoM’s.) MoM’s are “go with” trades that put money in your pocket. Any significant market move will start from the middle of a prior distribution. Fading (going against) this type of move is a recipe for disaster. Knowing a MoM is in progress helps you set expectations and market direction for the coming day. Understanding the correct market direction will keep you out of low probability trades and reduce your chances of getting chopped up.
The proprietary TIE Market Profile provides us with an excellent example in the eMini S&P. The short term trend moving higher has run out of gas. The MoM comes out of the distribution, accelerating to the downside. We call this “the end is the beginning.”
To learn more about MoM’s and the 3-2-1 Methodology, Join us, Tuesday June 10th at 3:30pm central time, for a Free Webinar on the TradeMaven Inside Edge.
Charles Cochran, a securities and futures industry veteran of 30 years, will explain trading like a professional utilizing TradeMaven’s 3-2-1 methodology.
To register, follow this link www.iiedge.com, and fill out the registration short-form. We will contact you with username, password and login instructions.
A Free 10-day trial is also available to TradeMaven’s Inside Edge trading room, where you can experience Charles’ market commentary beginning at 7:00am central time, just prior to the Bond opening.
Wednesday, June 4, 2008
For Thursday
Still wary of the breaks based on bad news - volume is developing at higher prices, but the short side is still the bias.
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
5 Jun:
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
5 Jun:
Tuesday, June 3, 2008
Still watching the sellers
Volume was certainly developing lower. Afternoon trading on Tuesday showed support at the 1372 level; I'll look to see if open interest rose tomorrow morning. If so, the selling will continue.
ISM non-manufacturing and Productivity reports are due out Wednesday afternoon, Unemployment Situation is Friday
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
4 Jun:
ISM non-manufacturing and Productivity reports are due out Wednesday afternoon, Unemployment Situation is Friday
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
4 Jun:
Monday, June 2, 2008
Back From Finals And Vacation
Back from my break -
Though the S&P sold off - it came right back to the pivot - I'm not convinced the market will continue to go lower, But I can't exactly be bullish with some of the reports due out this week.
I would trade with a selling bias, but take profits once the sellers start backing off.
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
3 Jun:
Though the S&P sold off - it came right back to the pivot - I'm not convinced the market will continue to go lower, But I can't exactly be bullish with some of the reports due out this week.
I would trade with a selling bias, but take profits once the sellers start backing off.
From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance for
3 Jun:
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