Good Morning.
Volume is building lower and lower off reports - unemployment was higher than expected, home sales lower than expected. It is going to be a while until the economy finds sure footing. I feel more comfortable selling the low volume rallies today.
Support and Resistance Numbers
ES ZB
r4 1275.50 116.18
r3 1270.50 116.05
r2 1263.50 115.22
r1 1258.75 115.10
PP 1256.50 115.04
s1 1247.50 114.46
s2 1240.70 114.16
s3 1236.00 114.10
s4 1230.50 114.01
Best
Josh Kelne
Office: 312-521-7347
800-845-9685
www.trademaven.com
Take the Trade
~~~~~~~~~~~~~~~~~~~~
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
Friday, July 25, 2008
Thursday, July 24, 2008
7/24/08
Good Morning.
Volume is being favored at the pivot - I would lean against 1287 pretty hard -
Support and Resistance Numbers
ES ZB
r4 1305.50 115.08
r3 1295.50 115.03
r2 1291.50 114.26
r1 1287.25 114.16
PP 1280.50 114.06
s1 1275.50 114.02
s2 1270.50 113.24
s3 1268.75 113.19
s4 1263.25 113.09
Volume is being favored at the pivot - I would lean against 1287 pretty hard -
Support and Resistance Numbers
ES ZB
r4 1305.50 115.08
r3 1295.50 115.03
r2 1291.50 114.26
r1 1287.25 114.16
PP 1280.50 114.06
s1 1275.50 114.02
s2 1270.50 113.24
s3 1268.75 113.19
s4 1263.25 113.09
7/1/08
Good Morning.
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
6/30/08
Good Morning.
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Wednesday, July 2, 2008
For Wednesday
Still no change in the bond numbers, but the ES is drifting higher despite my warnings of a sell off.
We are most likely range bound before the Unemployment Number tomorrow - the number is bound to reflect higher unemployment numbers than expected which should have a bearish effect. But follow the volume - if there are no more buyers at resistance sell it and collect back at the pivot.
ES ZB
r4 1307.50 116.21
r3 1301.50 116.17
r2 1295.50 116.11
r1 1291.50 116.05
PP 1284.50 115.27
s1 1275.50 115.16
s2 1270.50 115.10
s3 1263.75 115.00
s4 1256.25 114.26
today's reports:
MBA Apps 7:00 ET
Factory Orders 8:15 ET
Tomorrow's Reports:
Unemployment Situation 8:30ET
ISM non-mfg survey 10:00 ET
Best
Josh Kelne
800-845-9685
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
We are most likely range bound before the Unemployment Number tomorrow - the number is bound to reflect higher unemployment numbers than expected which should have a bearish effect. But follow the volume - if there are no more buyers at resistance sell it and collect back at the pivot.
ES ZB
r4 1307.50 116.21
r3 1301.50 116.17
r2 1295.50 116.11
r1 1291.50 116.05
PP 1284.50 115.27
s1 1275.50 115.16
s2 1270.50 115.10
s3 1263.75 115.00
s4 1256.25 114.26
today's reports:
MBA Apps 7:00 ET
Factory Orders 8:15 ET
Tomorrow's Reports:
Unemployment Situation 8:30ET
ISM non-mfg survey 10:00 ET
Best
Josh Kelne
800-845-9685
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
Tuesday, July 1, 2008
For Tuesday
Good Morning.
Very little change in the numbers - an early morning break in the eMini S&P has created a gap at 1274 area so we are bound to fill in that gap. I am sticking with a short bias. Sell rallies against resistance.
ES ZB
r4 1283.50 116.21
r3 1278.25 116.17
r2 1275.50 116.11
r1 1270.50 116.05
PP 1267.00 115.27
s1 1264.25 115.16
s2 1260.74 115.10
s3 1256.50 115.00
s4 1253.00 114.26
today's reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Tomorrow's Reports:
MBA Apps 7:00 ET
Factory Orders 8:15 ET
Thursday
Unemployment Situation 8:30ET
ISM non-mfg survey 10:00 ET
Best
Josh Kelne
800-845-9685
Josh@trademaven.com
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
Very little change in the numbers - an early morning break in the eMini S&P has created a gap at 1274 area so we are bound to fill in that gap. I am sticking with a short bias. Sell rallies against resistance.
ES ZB
r4 1283.50 116.21
r3 1278.25 116.17
r2 1275.50 116.11
r1 1270.50 116.05
PP 1267.00 115.27
s1 1264.25 115.16
s2 1260.74 115.10
s3 1256.50 115.00
s4 1253.00 114.26
today's reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Tomorrow's Reports:
MBA Apps 7:00 ET
Factory Orders 8:15 ET
Thursday
Unemployment Situation 8:30ET
ISM non-mfg survey 10:00 ET
Best
Josh Kelne
800-845-9685
Josh@trademaven.com
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
For Monday
Good Morning.
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Best
Josh Kelne
800-845-9685
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
The trend continues to move downward and volume continues to build lower (including a rise in open interest of 35,000 contracts) all signaling the trend will continue. Trade with a short bias. Sell rallies against resistance.
ES ZB
r4 1301.75 116.21
r3 1296.00 116.17
r2 1291.75 116.11
r1 1286.50 116.05
PP 1280.25 115.27
s1 1277.75 115.16
s2 1270.75 115.10
s3 1264.25 115.00
s4 1260.75 114.26
today's reports:
NAPM-Chicago 9:45 ET
Tomorrow's Reports:
ICSC-UBS Store Sales 7:45 ET
Redbook 8:55 ET
Construction Spending 10:00 ET
ISM Mfg Index 10:00 ET
Best
Josh Kelne
800-845-9685
Disclaimer: There is a risk of loss in futures and options trading. Past performance is not necessarily indicative of future results. This e-mail is confidential and may also be legally privileged. If you are not the intended recipient, use of the information contained in this e-mail (including disclosure, copying or distribution) is prohibited and may be unlawful. TradeMaven Inside Edge is offered for educational purposes only. Neither TradeMaven Group nor any of its affiliates recommend or endorse specific trades. Trading based on TradeMaven Inside Edge is conducted at the discretion and risk of the individual trader.
For Friday
The eMini S&P had 86K contracts open to the short side in Thursday’s session – Traders who hold their positions for an extended period of time are speculating the market to continue its downward trend. Consumer Sentiment and higher fuel prices will exacerbate the situation. Sell the rallies against resistance.
Support and Resistance:
ES ZB
R4 1301.75 116.17
R3 1294.50 116.05
R2 1286.75 115.19
R1 1282.00 115.15
PP 1279.25 115.08
S1 1277.75 115.02
S2 1270.75 114.28
S3 1264.25 114.21
S4 1260.75 114.12
Today’s Reports:
Personal Income and Outlays 8:30 ET
Consumer Sentiment 10:00ET
Support and Resistance:
ES ZB
R4 1301.75 116.17
R3 1294.50 116.05
R2 1286.75 115.19
R1 1282.00 115.15
PP 1279.25 115.08
S1 1277.75 115.02
S2 1270.75 114.28
S3 1264.25 114.21
S4 1260.75 114.12
Today’s Reports:
Personal Income and Outlays 8:30 ET
Consumer Sentiment 10:00ET
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