Tuesday 03/30/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures
As anticipated, we got an outside day today where the market looked for Buyers below and Sellers above yesterday's balance area of 1167.75-1169. The low volatility may also be due to the holiday week. Responsive Sellers kept price below 1175 and Responsive Buyers pushed price back into Value, and we closed at 1169.25. My bias remains Bullish above 1163.

ES 5-Minute Chart


ES Day Session Volume Profile Chart

Tuesday 03/30/2010 - E-Mini S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
After Monday's range-bound price action where the market was in balance between 1167.75 and 1169, I'm anticipating an outside day where price may test 1175-1176.50 on the upside and 1160.75-1163.75 on the downside. My Bull/Bear Line in Sand is 1163.25; bullish if price is trading above it, and bearish if price is trading below that level. I anticipate the buying to get shut off by 1181.50 and the Selling to get shut off by 1153.50.

Econ Data
Redbook at 7:55 AM (CT), S&P Case-Shiller HPI at 8:00 AM (CT), Consumer Confidence at 9:00 AM (CT), and State Street Investor Confidence Index at 9:00 AM (CT)

ES - Daily Chart with Volume Profile and Key Levels

Tuesday 02/23/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures Review/Analysis
The Key Levels and Scenario worked out great! Once price broke below 1103, a test of the 1097-1099 area was expected and that played out well. Every time we broke through an Area of Support, it then became Resistance and provided low-risk Short entries. The 1091 area proved to be solid support remainder of the day, and provided several low-risk Long entries.

ES 5-Minute Chart for 02/23/10


ES 30-Min Volume Profile Chart for 02/23/10


ES Day Session Volume Profile Chart for 02/23/10

Tuesday 02/23/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
We're close to an inflection point here; either the market breaks out above 1113 and tags the 1120-1125 area, or we break down below 1096 and tests the low to mid 1080s. I don't know if that will happen tomorrow or the day after, but I'm anticipating the move to materialize sometime this week. My near-term bias is bullish above 1097, and bearish below it. Price needs to get above 1109.50 for further upside momentum, or we could easily rotate down to the low 1100s again, with a test of the high 1090s. Back and forth movement is typical as price gets closer to an inflection point; since it's a battle between Buyers and Sellers. Be flexible and nimble -- we could get fast moves in both directions. Don't add to losing positions here, and try to stay on the side of Momentum.

Econ Data
Redbook at 7:55 AM (cst), S&P Case-Shiller HPI at 8:00 AM (cst), State Street Investor Confidence Index and Consumer Confidence at 9:00 AM (cst).

ES - Daily Chart with Volume Profile and Key Levels

Tuesday 01/26/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures Review/Analysis
We got the bounce I was looking for in that 1080-1086 area today. Other than that, I'm really liking the volatility and hope 20-30 pt daily ranges become the norm. Overall, some very nice moves in the market today with rotation in key areas. Check the annotated 10-min chart to see how the Levels played out.

ES 10-Minute Chart for 01/26/10

Tuesday 01/26/2010 - Euro FX Futures Review/Analysis

Euro FX (EUR/USD) Futures
Although I've only recently started looking into the 6E and have a lot more studying to do, the Key Levels are working out great here. Check the annotated chart to see how the Levels worked out today.

EC/6E 10-Minute Chart for 01/26/10

Tuesday 01/26/2010 - Euro FX Futures Key Support/Resistance Levels

Euro FX (EUR/USD) Futures

Econ Data
International

CHF UBS Consumption Indicator at 1:00 AM (cst)

EUR German IFO - Business Climate (JAN), EUR German IFO - Current Assessment (JAN), EUR German IFO - Expectations (JAN), EUR Euro-Zone Current Account n.s.a. (euros) (NOV) at 3:00 AM (cst)

GBP Gross Domestic Product (QoQ), GBP Gross Domestic Product (YoY) and GBP BBA Loans for House Purchase (DEC) at 3:30 AM (cst)

U.S.
Redbook at 7:55 AM (cst), S&P Case-Shiller HPI at 8:00 AM (cst), Consumer Confidence and State Street Investor Confidence Index at 9:00 AM (cst)

EC/6E - Daily Chart with Volume Profile and Key Levels

Tuesday 01/26/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
I feel we're due for a bounce here, but in the event that we don't get one, the resulting information will give us a clue as to how weak this market really is. So far, we're holding above that 1086-1088 area, and the plan is still to look for Buying opportunities in the 1080.50-1086 area. Below 1080, we could see a move to the 1060s. On the up side, the plan is to exit or scale out of Longs and begin looking for Selling opportunities in that 1109-1112 area.

Econ Data
Redbook at 7:55 AM (cst), S&P Case-Shiller HPI at 8:00 AM (cst), Consumer Confidence and State Street Investor Confidence Index at 9:00 AM (cst)

ES - Daily Chart with Volume Profile and Key Levels

Tuesday 01/19/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures Review/Analysis
I know I'm not the only one who was surprised by the unusually strong up move today. I was not anticipating such a strong up move, but was open to the idea. I posted last night that my "process goal will be to keep the personal bias in check, and keep my mind open to bullish scenarios as well." That thought alone kept me out of trouble today. One way I gauge momentum and strength of bulls/bears is by measuring the range of the up/down rotations. As you can see from the 5-min chart, the rotations in the overnight session were favoring the bears with upward rotations averaging around 1.25 points and downward rotations averaging 2.25 points. This relationship reversed when ES pushed from 1127.50 (7:20 AM cst) to 1132.75 (7:40 AM cst). Price also remained above the mid-point and VWAP right from the cash open; another sign that Bulls were in control.

ES 5-Minute Chart for 01/19/10

Key Support/Resistance Levels (S&P 500 Futures) for Tuesday 01/19/2010

E-Mini S&P 500 Futures
My bias is bearish below 1137.75, neutral between 1137.75 and 1142 and cautiously bullish above 1142. So far, the price action is turning out to be very similar to MLK day 2006. If that's any indication, we could see much lower prices over night and into the morning session. I'll be looking towards the Globex Low to provide some support at the cash open, and will then key off the over-night mid-point as near-term resistance. Although my current bias is bearish, I have to recognize the fact that 1129.50 was rejected over the short holiday session, and ES has continued to build value above 1134. Tomorrow's process goal will be to keep the personal bias in check, and keep my mind open to bullish scenarios as well.

Econ Data
Treasury International Capital at 8:00 AM (cst), State Street Investor Confidence Index at 9:00 AM (cst), and Housing Market Index at 12:00 PM (cst).

ES - Daily Bar Chart with Volume Profile and Key Levels