Owner: Trade The Futures URL:http://tradethefutures.blogspot.com Join Date: Mon, 03 Dec 2007 00:21:53 -0600 Rating:0 Site Description: Day trading site focusing on the S&P500 Emini. Support and resistance/trading levels tips. Site statistics:Click here
Are lower Markets Ahead? 2008-01-31 01:31:00 The markets got just what they wanted from the Fed today and proceeded to buy the market giving the perception that the news was good and we were going to rally to higher and higher highs, but when it reached resistance at or near the 50 % retracement level and the 20 moving average they proceeded to sell their long positions to the late buyers and trend followers. The Smart Money liquated all Read more:Markets
FOMC, Support and Resistance 2008-01-30 01:36:00 Markets are poised for a sizable move tomorrow with the FOMC announcement and four days of consolidating. The markets have been adding more and more buying volume which could increase the chance for a strong move higher, but I’d still remain guarded against a test of the previous lows. Whatever the Fed does should be the deciding factor. The Fed Fund Futures are still leaning towards a .50 Read more:Resistance
, Support
Markets getting positioned for Fed report 2008-01-29 00:14:00 The Fed Funds Futures are currently indicating an 88% chance that the Fed will cut a .50 point on Wednesday, while a, 25 point cut has been fully priced into the market. Traders seem to be positioning themselves for this by pushing the market higher before the report
’s release. It would be interesting to see what would happen if the Fed doesn’t appease with the .5o point cut. I am also looking Read more:Markets
Huge Week for the Markets 2008-01-28 01:37:00 The economic calendar is definitely full this week; two of the events of the month are scheduled, along with a packed earnings calendar. Early in the week new Home Sales, Durable Goods, GDP and the all important Fed meeting on Wednesday. Later in the week we’ve got Personal Income/Spending, Construction Spending, Consumer Sentiment and the other big market mover, the January Employment Report, Read more:Markets
Diamond Class Action Lawsuit! You still have time to file a claim. 2008-01-26 05:56:00 This is a little off the subject of trading, but I figure many of you have at some point purchased a diamond for a loved one or yourself. Well if you did buy one between January 1, 1994 and March 31, 2006, then you will want to read this.
De Beers is the largest supplier of rough diamonds in the world. Beginning in 2001, Plaintiffs in several states filed lawsuits against De Beers in state and Read more:Action
, claim
, Lawsuit
Friday’s Trading Levels 2008-01-25 01:20:00 My pivot for Friday
will be the 1345-1347.50 area. Above the pivot my close range targets are, 1352 and 1361 and my long range targets are 1371, 1379 and 1385. A move above the 1371-1373 level could attract new buyers to the market. Under the pivot my near range targets are 1342 and 1338 while my long range targets are 1330 and 1323. The 1329 to 1333 area should hold good support, while a break Read more:Trading
Traders Short Covering 2008-01-24 07:28:00 Today’s trading was one of the more volatile days with an 83 point range put in today. Volume today almost reached the 5 million mark today; however there was no new money entering the market due to short covering. Short
s were thinking this may be a bottom, so they were closing their positions out not wanting to get caught short. Volume was spread out over a large area and sufficient time was not
Dow Sinks Another 260 in Opening Minutes 2008-01-23 08:44:00 NEW YORK (AP) -- Stocks fell in another rocky opening Wednesday, with investors uneasy about the health of the economy and corporate earnings after disappointing reports from big names like Apple Inc. and Motorola Inc. In the first minutes of trading, the Dow Jones industrial average fell 261.10, or 2.18 percent, to 11,710.09.
Click hereto read the rest of the story. Read more:Sinks
Markets take a wild ride! 2008-01-23 01:05:00 Without the intervention from the Fed today it’s quite possible we would have had a decline of better than 5%. Even with the rate cut and subsequent rally, there was still a production of selling volume. It’s still too early to make a call for a trend change, but we could consolidate for a day or two while the market works through a surplus of buying volume over the last few days. The longer the Read more:Markets
Market in a free fall 2008-01-22 00:46:00 Last week the market declines have managed to erase all the gains that were made in 2007. According to what’s in the news, the markets are anticipating disaster to strike tomorrow. In fact overnight the markets have dropped as much as 7% down to 1256.25 (as of the time I wrote this). The Asian markets are getting crushed right now due to worries that a possible recession in the U.S. could Read more:Market
Market Volatility Continues 2008-01-18 00:17:00 Tomorrow is options expiration day for January, so more volatility is to be expected as investors and traders alike will be rolling over and/or adjusting their positions. Today’s volume was 50% higher than the average volume for the last 3 months. There has been a pretty good size of buying volume lately creating some accumulation. Over all levels are still negative, but with the size of Read more:Market
, Volatility
Support and Resistance Levels for Thursday 2008-01-17 01:12:00 Today’s trading saw a lot of back and forth action on heavy volume which created a sort of neutral zone between 1380 and 1387. This was where the majority of the two-sided trading occurred during the day. Below that we saw a lot of heavy buying enter the market at or near the day’s low, especially from 1370.75 – 1373. This should probably offer a decent buying opportunity the first time Read more:Resistance
, Support
, Thursday
Trading Numbers for Wednesday 2008-01-16 07:00:00 Forgot to post Wednesday
’s numbers last night, sorry I got them out so late. Anyway my pivot for today is 1398 – 1401 (this is also a good resistance level). On the upside I’ll be looking for 1404.50 and 1406.75. Longer range 1411.50 and1420. Below the pivot I like 1393 and 1389. Long range targets on the downside are, 1381.50 and 1375.25. Some key support levels are 1374 – 1375, 1368 – Read more:Numbers
, Trading
Market data and trading levels 2008-01-15 00:36:00 At 7:30 AM (central) PPI and Retail Sales are being released while at 9:00 AM Business Inventories will be released. Also before the open Citi Group, US Bank Corp and State Street Corp. will be releasing their earnings reports. During market hours Intel’s earnings will be released. Citi Group could write-down as much as 24 billion but lately the way traders seem to be looking at write-downs Read more:levels
, Market
Earnings may give traders deep view of market 2008-01-14 01:21:00 We’ve got a busy week ahead of us on the earnings front and some good economic data to keep an eye on. Scheduled to report earnings this week are several financial service firms such as, Citi Group, J.P. Morgan Chase and Merryl Lynch. There are also a slew of other big names releasing their earnings like: Intel, IBM and TD Ameritrade to name a few. Economic data released this week are Retail Read more:Earnings
, traders
Friday’s Trading Levels 2008-01-10 23:31:00 My pivot for Friday
is 1419-1421 area. Above that my first two targets are 1424 and 1427.50, my longer range targets 1433 and 1443, with good resistance at/around 1437. Trading
under the pivot I’ll be looking for 1416.75 and 1411.50 with 1403 and 1397 being my longer range targets. Look for 1407-1409 to offer good support.
Selling climax in the Emini? 2008-01-10 00:43:00 Back when the Emini made its lows in March and August the market was able to selloff heavily to find support, only to reverse and rally back up to close at or near their highs. This is an intraday trend reversal and is a very significant action that typically occurs when the market finds a bottom. It is sometimes known as a “SELLING CLIMAX”. Now that we’ve tested a major support level,
Markets selloff hard. 2008-01-09 00:31:00 Loads of bad news all hit the wire about the same time today causing a major selloff this afternoon. Possible bankruptcy, people not paying their bills and more housing concerns to name just a few. Financials were even hit hard today; in fact, 9 out 10 sectors were down today with healthcare being the only sector to post a gain.
The lows from August at or around 1375 should be the next major Read more:Markets
Numbers for Tuesday 2008-01-08 06:43:00 My pivot for today is 1421-1423. Above the pivot I will be looking for 1426.50 for my first target (resistance at 1426-1428) and above that 1431.25. 1431-1433 area should offer good resistance today, but a breach of this level should take us right to the next resistance level at 1436-1437. Above that 1443, 1451 and 1455 are also good resistance/targets. Below the pivot I like 1419, 1416 and 1411 Read more:Numbers
, Tuesday
Markets off to a bad start 2008-01-06 23:54:00 The Indexes are off to their worst start since 1983 with many traders fearful of a recession. Friday’s weak unemployment number seemed to just add fuel to the fire especially with the oil and gold markets making record highs. Volume has been on the low side so far, but this week should be trading as usual again now that we are finally through the holiday markets. With the happenings of late Read more:Markets
Will Traders and Investors be Back Tomorrow? 2008-01-04 00:08:00 Another pretty uneventful trading day, actually it even got a little boring at times today. It seems that the majority of traders and investors have been waiting on tomorrow’s job report. A negative or bad report combined with high oil prices could cause a slowdown in consumer spending and thus be the spark needed for a sustained downtrend. If we get a good report, though, just the opposite could Read more:Investors
A bearish start to the year 2008-01-02 23:29:00 The ISM report that was released today fueled traders and investors recession concerns. The report was the main catalyst for today’s selloff as it came in at 47.7, under the expansion/contraction line which is considered to be 50. Readings under 47 have been recessionary in the last two recessions. Also fueling today’s move was oil breaking a $100, gold hitting $864.90 and a weak dollar.
Over
2008 markets are here 2008-01-02 00:41:00 Compared to the last three months average daily volume, volume was down over 36% last week. Hopefully with the New Year here the thin, choppy, low volume markets of late are now in the past along with 2007. We seem to have been in a consolidation pattern, a triangle, lately and a break of either one of its trend lines could signal the beginning of a significant move. This could happen as early
Be Back Next Year ( Wednesday) 2007-12-30 20:12:00 Taking a long weekend and just enjoying the family.
Have a Happy New Year and stay safe, see you in 2008. Read more:Wednesday
Just the Numbers 2007-12-27 23:29:00 Today’s selloff took back most of the “ Santa Clause” rallies gains, but if 1485 holds support we could see a challenge of 1499.
My pivot for today is the 1493-1495 area with resistance above at 1499-1500 and support coming in at the 1489-1490 level. Over the pivot I will be looking for 1498.50. If we can get through the resistance here I’ll be looking for 1504 or 1509.50 as my next two Read more:Numbers
Relief or Recovery Rally 2008-03-12 07:12:13 The Feds plan that was released yesterday helped push the market higher but it does bring in to question the size of the rate cut at the next FOMC meeting. Today the market saw strong buying right into the close and was even able to close at its highs without witnessing a pullback. This can be considered a strong positive for the market. Down at the 1308-1311 area the market saw good initiated Read more:Rally
, Recovery
Market Continues Selloff 2008-03-10 23:04:25 The market continued its move down towards the Fed intervention days low from January at/near 1255. The financial sector was largely responsible for the bearish tone today however weakness was spread out across the board with all ten economic sectors posting losses. Tuesdays pivot will be the 1282-1285 area. Above the pivot, my close range targets are 1288 and 1292 with my longer-range Read more:Market
What Will The Fed Do Next? 2008-03-10 00:04:57 On Friday the Fed funds futures market was showing a 98% probability that the Fed would be cutting the rate by 75 basis points and a 2% chance of a 100 basis point cut at its next scheduled meeting on March 18th. This was up from a 74% chance of a 75 basis point cut and a 26% chance of a 50 basis point cut on Thursday. There has also been speculation that the Fed may step in and cut the rate
Market Trading in Choppy but Systematically Lower Fashion 2008-03-07 00:05:37 With the breach of support at/near 1317 and today’s lower low, the market seems to be slowly yet systematically working its way lower through the range made when the Fed intervened back in January. There is a high probability that the market will continue to trade down to the lows of that range (1255-1260) with a possible reaction or pause around the 1280-1285 area. Should a negative bias Read more:Fashion
, Lower
, Market
, Trading
Technical Difficulties 2008-03-05 23:15:01 I am having problems with my charts tonight. It is missing all data from Wednesday’s trading, so I will not be able to complete the blog tonight, but I will be back up as soon as I can.
Sorry for the inconvenience. Read more:Technical
, Technical Difficulties
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