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Wednesday, February 29, 2012
Tuesday, February 28, 2012
ES Trade Plan for Tuesday 02/28
E-Mini S&P 500 Futures
ES held above the 1365.50 Support in the overnight session, and tested the 1372-1374 Resistance where it found Responsive Sellers capping the upside. Heading into the day session, we'll be using 1367.50 as the Micro Bull/Bear Line in Sand as a gauge to see which side is being more aggressive; holding above 1367.50 would indicate Buyers in Control, and holding below would indicate weakness on the Buy side (not necessarily Sellers in Control). We have Initial Support at 1364-1366, followed by the Bull/Bear Zone at 1359.25-1361.25 -- the overall bias remains bullish above that area. On the upside, we have Pre-Market Resistance at 1372-1374 followed by Initial Resistance at 1377.25-1379.25. A pullback off the open would indicate a higher probability of a Balanced Session, with Responsive Sellers active at Resistance and Responsive Buyers active at Support. The primary catalyst during the day session is Consumer Confidence at 9 AM (CT). Use the Opening Range and 1367.50 for short-term bias off the open.
Econ Data
Durable Goods Orders at 7:30 AM (CT), Redbook at 7:55 AM (CT), S&P Case-Shiller HPI at 8:00 AM (CT), Consumer Confidence, Richmond Fed Manufacturing Index and State Street Investor Confidence Index at at 9:00 AM (CT).
Webinar/Live Trading Room: Join us for free at http://bit.ly/z3cmTo
Monday, February 27, 2012
Webinar: How One Member Uses the EMiniPlayer S/R Zones and Trade Plan
We did a Webinar on Sunday, Feb 26th and went over how one of my members uses the EMiniPlayer.net Support/Resistance Zones and Trade Plan to profitably trade the E-Mini S&P 500 Futures. He's one of the most consistently profitable traders I know (4+ months without a single losing day). The secret to his success is keeping things simple and executing the trade plan. Click on the following link watch the recording: http://bit.ly/w2ZDrh
Friday, February 24, 2012
ES Trade Plan for Friday 02/24/2012
E-Mini S&P 500 Futures
The upside move that began yesterday morning, continued in the overnight session and ES tested the 1368-1369.50 Resistance Zone. Heading into the day session, we have Pre-Market Resistance at 1366.50, followed by Initial Resistance at 1368-1369.50. Above 1369.50, we have Resistance at 1372-1374 followed by 1377.25-1379.25 (Buying could shut off there). On the downside, we have Initial Support at 1359-1361 (previous VPOC 1359.25), followed by the Micro Bull/Bear Zone at 1355-1357, which we use to establish directional bias (bullish above 1355, bearish below it). Given the overall Bullish context, the expectation is for Responsive Buyers to be active at every Support Zone, and the Selling could shut off by 1355-1357. A break and hold below 1355 would be a red flag for Buyers. With two econ reports out in the first half hour, the expectation is for a range-bound/choppy open with Responsive Sellers active at Resistance, targeting the gap fill at 1363.
Econ Data
Consumer Sentiment at 8:55 AM (CT) and New Home Sales at 9:00 AM (CT).
Thursday, February 23, 2012
ES Trade Plan for Thursday 02/23
E-Mini S&P 500 Futures Trade Plan
Overnight, ES balanced within yesterday's 24-hr range, building Acceptance at 1357. Heading into the day session, we have the Micro Bull/Bear Zone at 1354.25-1356.25 (gap fill at 1356), followed by 1353 (minor support) and Initial Support at 1348-1351. On the upside, we have Pre-Market Resistance at 1358.75-1360.25, followed by Initial Resistance at 1363.75-1365.75 and then 1368-1369.50 (top of the current range on 24-hr chart). So far this week, we've seen Consolidation of last week's upside break-out, and ideally, price should hold above the 1354.25-1356.25 Micro Bull/Bear Zone and then break above the 1358.75-1360.25 Resistance for Buyers to remain in Control. Given the overall Bullish Context, the expectation is for Responsive Buyers to be active at Support. The only thing that would caution us against Longs at Support would be an Open Drive to the downside, and Market Internals indicative of a Trend Down day. Otherwise, we'll be looking for Responsive Buyers at Support and use the Resistance Zones as upside targets. With no market-moving economic catalyst during the day, we could get a Balanced session (upside cap in the event of breakout: 1368-1369.50, downside cap in the event of liquidation: 1348 or 1343-1345).
Econ Data
Jobless Claims at 7:30 AM (CT), FHFA House Price Index at 9:00 AM (CT), EIA Natural Gas Report at 9:30 AM (CT), EIA Petroleum Status Report at 10:00 AM (CT), Kansas City Fed Manufacturing Index at 10:00 AM (CT), and 7-Yr Note Auction at 12:00 PM (CT).
Wednesday, February 22, 2012
Tuesday, February 21, 2012
Friday, February 17, 2012
Thursday, February 16, 2012
Wednesday, February 15, 2012
Tuesday, February 14, 2012
Monday, February 13, 2012
Sunday, February 12, 2012
Saturday, February 11, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Friday 02/10
Today's EMiniPlayer.net Trade Plan
Yesterday's Review/Analysis post mentioned that we were seeing signs of short-term exhaustion, and price remained below the 1349-1351 Bull/Bear Zone and tagged each of the Support Zones mentioned in the Overnight Session Notes, with Responsive Buyers active on first test of each Zone. Heading into the day session, we'll be using 1335-1336.50 as the Micro Bull/Bear Zone to establish directional bias. Holding above this area will open the door to test 1339-1341 Pre-Market Resistance and 1344.50-1346.50 Initial Resistance, with potential for tagging the gap fill at 1348.25 and the previous VPOC at 1349 as an extreme. A break and hold below 1335-1336.50 would indicate Initiative Sellers active in the market, and bring the 1328.50-1330.50 Initial Support Zone into play as a target. Below that, we have Support at 1326.50 and 1322.50-1324.50. Bigger picture, Buyers remain in Control above 1320 -- Responsive Buyers could shut off the Selling at any of those Support Zones, and then push ES back up to test 1335-1336.50 and 1339-1341. The primary economic catalyst this morning is Consumer Sentiment at 8:55 AM (CT). ES is set to open below Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Yesterday's Review/Analysis post mentioned that we were seeing signs of short-term exhaustion, and price remained below the 1349-1351 Bull/Bear Zone and tagged each of the Support Zones mentioned in the Overnight Session Notes, with Responsive Buyers active on first test of each Zone. Heading into the day session, we'll be using 1335-1336.50 as the Micro Bull/Bear Zone to establish directional bias. Holding above this area will open the door to test 1339-1341 Pre-Market Resistance and 1344.50-1346.50 Initial Resistance, with potential for tagging the gap fill at 1348.25 and the previous VPOC at 1349 as an extreme. A break and hold below 1335-1336.50 would indicate Initiative Sellers active in the market, and bring the 1328.50-1330.50 Initial Support Zone into play as a target. Below that, we have Support at 1326.50 and 1322.50-1324.50. Bigger picture, Buyers remain in Control above 1320 -- Responsive Buyers could shut off the Selling at any of those Support Zones, and then push ES back up to test 1335-1336.50 and 1339-1341. The primary economic catalyst this morning is Consumer Sentiment at 8:55 AM (CT). ES is set to open below Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Thursday, February 9, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Thursday 02/09
Today's EMiniPlayer.net Trade Plan
Overnight, ES rejected the Bull/Bear Zone at 1339.25-1341.25 (overnight low = 1340.75), and tested the 1349-1351 Resistance Zone. Responsive Sellers were active there on first test and pushed ES to 1343, where Buyers entered and the next swing up took ES through the 1349-1351 Zone (stop-run there) -- prices above 1350.25 were quickly rejected. Heading into the day session, we have Resistance at 1349-1351 (2011 RTH High = 1350.25), followed by 1356-1356.50 (2011 Globex High = 1356.50). These are stronger areas of resistance, and it could take a few attempts to get through them -- this could result in some choppy price action, and calls for extra caution up here. On the downside, we have Initial Support at 1344.50-1346.50, and the Micro Bull/Bear Zone at 1339.25-1341.25, followed by the 1335-1336.25 Support Zone. Use the Opening Range and Opening Type to determine immediate bias off the open. ES is set to open above Value, which could attract Responsive Sellers.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, ES rejected the Bull/Bear Zone at 1339.25-1341.25 (overnight low = 1340.75), and tested the 1349-1351 Resistance Zone. Responsive Sellers were active there on first test and pushed ES to 1343, where Buyers entered and the next swing up took ES through the 1349-1351 Zone (stop-run there) -- prices above 1350.25 were quickly rejected. Heading into the day session, we have Resistance at 1349-1351 (2011 RTH High = 1350.25), followed by 1356-1356.50 (2011 Globex High = 1356.50). These are stronger areas of resistance, and it could take a few attempts to get through them -- this could result in some choppy price action, and calls for extra caution up here. On the downside, we have Initial Support at 1344.50-1346.50, and the Micro Bull/Bear Zone at 1339.25-1341.25, followed by the 1335-1336.25 Support Zone. Use the Opening Range and Opening Type to determine immediate bias off the open. ES is set to open above Value, which could attract Responsive Sellers.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Wednesday, February 8, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Wed. 02/08
Today's EMiniPlayer.net Trade Plan
Overnight, ES bounced off the previous day's VPOC at 1342.50 and the Buying shut off 3 ticks ahead of the 1349 Resistance. Heading into the day session, we have Initial Support at 1341.75-1343.75, and the Micro Bull/Bear Zone at 1338.50-1340.50. For upside continuation, ideally, Buyers should hold ES above Initial Support. A break below Initial Support would provide an early sign of weakness, and we'll use the 1338.50-1340.50 Micro Bull/Bear Zone to establish directional bias. On the upside, we have Initial Resistance at 1349-1351 (2011 RTH High = 1350.25), followed by 1356 (2011 Globex High = 1356.50) -- expecting Responsive Sellers to be active at Resistance there (profit-taking). A break and hold above Resistance could trigger stops and result in a short covering move, resulting in a quick push higher. Bigger picture, Buyers remain in Control, but we're hitting up against some major Resistance now, and markets don't usually blast through these areas on first attempt. Today's quiet U.S. econ calendar leaves the focus on Greece debt-talks. ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, ES bounced off the previous day's VPOC at 1342.50 and the Buying shut off 3 ticks ahead of the 1349 Resistance. Heading into the day session, we have Initial Support at 1341.75-1343.75, and the Micro Bull/Bear Zone at 1338.50-1340.50. For upside continuation, ideally, Buyers should hold ES above Initial Support. A break below Initial Support would provide an early sign of weakness, and we'll use the 1338.50-1340.50 Micro Bull/Bear Zone to establish directional bias. On the upside, we have Initial Resistance at 1349-1351 (2011 RTH High = 1350.25), followed by 1356 (2011 Globex High = 1356.50) -- expecting Responsive Sellers to be active at Resistance there (profit-taking). A break and hold above Resistance could trigger stops and result in a short covering move, resulting in a quick push higher. Bigger picture, Buyers remain in Control, but we're hitting up against some major Resistance now, and markets don't usually blast through these areas on first attempt. Today's quiet U.S. econ calendar leaves the focus on Greece debt-talks. ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Tuesday, February 7, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Tuesday 02/07
Today's EMiniPlayer.net Trade Plan
Overnight, the failure at 1337.25-1339.25 resulted in a test of the 1333.25 level, where Responsive Buyers were active and shut off the Selling. Heading into the day, we'll be using 1337.25-1339.25 as the Micro Bull/Bear Zone to establish short-term directional bias. On a break & hold above 1339.25, I expect a test of 1341-1343, with 1349-1351 capping the upside. 1341-1343 is an important Resistance Zone, and failure/rejection here, followed by a break and hold below 1339.25 could result in a short-term reversal to the downside. Below 1337.25-1339.25, we have Pre-Market Support at 1333.25, Initial Support at 1328.50-1330.50, 1326.50 Support, and finally the 1322.50-1324.50 Support Zone, where I expect Selling to shut off. The primary economic catalyst today is Consumer Credit at 2:00 PM (CT). Bigger picture, Buyers remain in Control above 1320 but short-term directional bias will be based on how price reacts at 1337.25-1339.25 -- short-term, Sellers hold Control below that price zone. We could get continued Balance, with a wider Value Area where Responsive Sellers are active above yesterday's range and Responsive Buyers are active below it.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, the failure at 1337.25-1339.25 resulted in a test of the 1333.25 level, where Responsive Buyers were active and shut off the Selling. Heading into the day, we'll be using 1337.25-1339.25 as the Micro Bull/Bear Zone to establish short-term directional bias. On a break & hold above 1339.25, I expect a test of 1341-1343, with 1349-1351 capping the upside. 1341-1343 is an important Resistance Zone, and failure/rejection here, followed by a break and hold below 1339.25 could result in a short-term reversal to the downside. Below 1337.25-1339.25, we have Pre-Market Support at 1333.25, Initial Support at 1328.50-1330.50, 1326.50 Support, and finally the 1322.50-1324.50 Support Zone, where I expect Selling to shut off. The primary economic catalyst today is Consumer Credit at 2:00 PM (CT). Bigger picture, Buyers remain in Control above 1320 but short-term directional bias will be based on how price reacts at 1337.25-1339.25 -- short-term, Sellers hold Control below that price zone. We could get continued Balance, with a wider Value Area where Responsive Sellers are active above yesterday's range and Responsive Buyers are active below it.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Monday, February 6, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Monday 02/06
Today's EMiniPlayer.net Trade Plan
Overnight, ES held above the 1329-1331 Support while 1337.50 Resistance capped the upside, and we ended up with a Balanced overnight session. Heading into the day, we have Initial Support at 1329-1331; rejection at that Support Zone would bring the 1336-1337.50 Pre-Market Resistance into play, followed by 1339.25-1341.25 Initial Resistance (previous Close at 1339, previous VPOC at 1339.25). With no key economic releases scheduled for today, any news out of Europe will be the focus and drive price. Bigger picture, Buyers are in Control and in the event that we break below 1329-1331, the expectation is for Responsive Buyers to be active at every support area (1326.50, 1322.50-1324.50, 1320). On the upside, the primary target is 1339.25-1341.25. Overall, the expectation is for a Balanced session with Responsive Buyers active at Support as ES consolidates Friday's breakout. Short-term bias remains Bullish above 1329-1331. Bigger picture bias remains Bullish above 1320.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, ES held above the 1329-1331 Support while 1337.50 Resistance capped the upside, and we ended up with a Balanced overnight session. Heading into the day, we have Initial Support at 1329-1331; rejection at that Support Zone would bring the 1336-1337.50 Pre-Market Resistance into play, followed by 1339.25-1341.25 Initial Resistance (previous Close at 1339, previous VPOC at 1339.25). With no key economic releases scheduled for today, any news out of Europe will be the focus and drive price. Bigger picture, Buyers are in Control and in the event that we break below 1329-1331, the expectation is for Responsive Buyers to be active at every support area (1326.50, 1322.50-1324.50, 1320). On the upside, the primary target is 1339.25-1341.25. Overall, the expectation is for a Balanced session with Responsive Buyers active at Support as ES consolidates Friday's breakout. Short-term bias remains Bullish above 1329-1331. Bigger picture bias remains Bullish above 1320.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Friday, February 3, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Friday 02/03
Today's EMiniPlayer.net Trade Plan
ES held the 1320 Support in the overnight session, and broke out to the upside on the positive NFP/Employment report, testing the 1335.50-1337.50 Resistance Zone, where Responsive Sellers were active on 1st test. Above there, we have Resistance at 1340.25-1342.25 (Open Gap 1340.25) -- Sellers may the cap the upside there. On the downside, we have Initial Support at 1327.25-1329.25, followed by 1322.50-1324.50 and the Bull/Bear Line in Sand at 1320. NFP day sessions usually result in two-side price action, so even though Buyers are in Control, I'm expecting opportunities on both sides (Long and Short). We'll be using 1333.25 as the Micro Bull/Bear Line in Sand off the open to establish short-term directional bias. Overall, Buyers remain in Control and ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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ES held the 1320 Support in the overnight session, and broke out to the upside on the positive NFP/Employment report, testing the 1335.50-1337.50 Resistance Zone, where Responsive Sellers were active on 1st test. Above there, we have Resistance at 1340.25-1342.25 (Open Gap 1340.25) -- Sellers may the cap the upside there. On the downside, we have Initial Support at 1327.25-1329.25, followed by 1322.50-1324.50 and the Bull/Bear Line in Sand at 1320. NFP day sessions usually result in two-side price action, so even though Buyers are in Control, I'm expecting opportunities on both sides (Long and Short). We'll be using 1333.25 as the Micro Bull/Bear Line in Sand off the open to establish short-term directional bias. Overall, Buyers remain in Control and ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Thursday, February 2, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Thursday 02/02
Today's EMiniPlayer.net Trade Plan
Overnight, ES balanced in the upper part of yesterday's range, with Buyers remaining in Control. Heading into the day session, we'll be using 1317 as the Micro Bull/Bear Line in Sand to esablish short-term directional bias. We have Initial Support at 1314.50-1316.50, followed by 1308-1310 (NVPOC 1308, Open Gap 1308.25). On the upside, we have Pre-Market Resistance at 1322.50-1324.50 (previous VPOC 1322.50), followed by Initial Resistance at 1327.50-1329.50. The expectation is for Responsive Buyers to be active at Support, and Responsive Sellers to be active at Resistance, with an upward bias above 1317. Bigger picture, Buyers remain in Control and 1308-1310 is Key Support. The expectation is for a relatively Balanced session ahead of tomorrow's NFP/Employment report.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, ES balanced in the upper part of yesterday's range, with Buyers remaining in Control. Heading into the day session, we'll be using 1317 as the Micro Bull/Bear Line in Sand to esablish short-term directional bias. We have Initial Support at 1314.50-1316.50, followed by 1308-1310 (NVPOC 1308, Open Gap 1308.25). On the upside, we have Pre-Market Resistance at 1322.50-1324.50 (previous VPOC 1322.50), followed by Initial Resistance at 1327.50-1329.50. The expectation is for Responsive Buyers to be active at Support, and Responsive Sellers to be active at Resistance, with an upward bias above 1317. Bigger picture, Buyers remain in Control and 1308-1310 is Key Support. The expectation is for a relatively Balanced session ahead of tomorrow's NFP/Employment report.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Wednesday, February 1, 2012
E-Mini S&P 500 Futures Trade Plan & Chart for Wed. 02/01
Today's EMiniPlayer.net Trade Plan
Overnight, we were using 1305 as the Micro Bull/Bear Line in Sand to establish directional bias -- Responsive Buyers shut off the Selling a tick ahead of the 1303.50 Support and quickly rejected prices below 1305. Yesterday's review/analysis post also mentioned that we'd be looking for a strong directional move away from 1308, and the break & hold above 1308 took ES up to the 1319.25-1321.25 Resistance Zone, which capped the upside overnight. Heading into the day session, we have Pre-Market Support at 1313-1315 and Pre-Market Resistance at 1319.50-1321.50. With the strong upside move overnight, the expectation is for Buyers to be active at Support and test the NVPOC at 1319.50, followed by 1324.25 and potentially 1327.50-1329.50 (top of Balance Area). Holding above 1313-1315 would indicate short-term Initiative Buyers active in the market, increasing the probability of testing 1324.25. The expectation is for Responsive Sellers to be more active at Resistance above 1324.25. On the downside, below 1313, Key Support is at 1308-1310. Buyers remain in Control. The primary economic catalyst this morning is the ISM Mfg Index at 9 AM (CT). ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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Overnight, we were using 1305 as the Micro Bull/Bear Line in Sand to establish directional bias -- Responsive Buyers shut off the Selling a tick ahead of the 1303.50 Support and quickly rejected prices below 1305. Yesterday's review/analysis post also mentioned that we'd be looking for a strong directional move away from 1308, and the break & hold above 1308 took ES up to the 1319.25-1321.25 Resistance Zone, which capped the upside overnight. Heading into the day session, we have Pre-Market Support at 1313-1315 and Pre-Market Resistance at 1319.50-1321.50. With the strong upside move overnight, the expectation is for Buyers to be active at Support and test the NVPOC at 1319.50, followed by 1324.25 and potentially 1327.50-1329.50 (top of Balance Area). Holding above 1313-1315 would indicate short-term Initiative Buyers active in the market, increasing the probability of testing 1324.25. The expectation is for Responsive Sellers to be more active at Resistance above 1324.25. On the downside, below 1313, Key Support is at 1308-1310. Buyers remain in Control. The primary economic catalyst this morning is the ISM Mfg Index at 9 AM (CT). ES is set to open above Value.
5-min Chart with EMiniPlayer.net Support/Resistance Zones
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