Daily Trading Advisory

arturo1 · Mar 26, 2009

DAILY TRADING ADVISORY 26-March-2009

Durable goods orders better than expected, up 3.4% and New Home sales up 4.7% on cheaper property prices gave way to an early rally that failed once the Treasury auction prompted speculation of higher interest rates.

ECONOMIC DATA
8:30 AM Initail Claims
8:30 AM GDP Final (Q4)
8:30 AM GDP Price Index (Q4)

YESTERDAY’S MARKET
Markets opened in positive territory, the E-mini SP started the session at 808.25 and pushed up to 811.75, pulled back a few points and bounced to 812.00. The SP stopped a few times at the 812.00 level, but once it get exceeded, the early rally continued reaching 815.50, once the New Home sales data got release, the rally continued up to 822.25. The SP pulled back to 816.25 where a double bottom gave way to a move to new highs, the index reached 823.50. With the highs in place, the SP pulled back once more to 816.25. As the double bottom held, the SP bounced back to 820.50 just to get sold to 815.00 where the sell off stopped. After a few attempts to break below 815.00, the 50% Fibonacci retracement of the daily ranges, the SP bounced back to 819.50 and leaded by the strength in the Russell and after another pullback to 817.00, bounced to 821.50. As the Russell failed to make a new high and posted a double top the markets backed off, the SP pushed down to 813.75 and then to the critical 812.00-810.50 support levels, once those get broken, the markets fell strong and the SP reached 802.00. After a rebound to 806.00, the index pushed to new intraday lows at 794.75 and then at 787.00 from where the markets bounced reaching 799.50. After pulling back to 795.50 the market bounced reaching 812.00 from where it pulled back into the end of the session. For the day, the SP ended higher by 4.75 points and settled at 808.25, the Nasdaq lost 2 points closing the session at 1234.25 and the Russell gained 9.90 points closing at 425.00.The Dow added 89 pints and closed at 7749 after an erratic trading session.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “I have been writing about the nature of the recent bear market rally, its strength and fast motion and the time extension of the move. This second degree rally, which has already reached the 12-14 days, has moved toward the moment where the recent move will have to get defined as a countertrend move or a cyclical trend that may reach 30 days at least in its time duration. With the rally at risk, the next two trading sessions will give us the clue, or the rally has ended and the downtrend will get resumed to go for a test of the November lows, posting a higher low while the markets build a base for a future upside move, or yesterday’s pullback that can get extended for another session is only a two days pullback in the way for the SP to reach the 860.00’s and for the Dow to get to the 8000 level. Is last Monday opening gap and huge rally an exhausting move that has already ended? We need to see how the indexes trade during the next couple of days. If this rally will fail to continue the indexes will have to show a wide range downside session that pushes the markets down and maybe fill, in the next 48 hours the open gap from last Monday’s session. The bullish scenario calls for another session where markets trade in a narrow range with the SP holding near to the 800.00 mark and the Dow closing above the 7500 level. So under this uncertainty, the opening price could be used as an intraday pivot point to show us the market direction, and the 793.50 level on the SP, from where lat Monday’s move started will have to hold for this market to hold its bullish bias.”

Well, the bullish scenario remains intact. After starting the session with a bullish bias taking advantage of the early rally, we were right about the sell off that took prices below our 804.00 downside objective.
There is not too much change in my analysis, I still think that the markets will be able to push higher, and as I wrote on my yesterday’s report, that rally will have to start during today’s trading session, that means, today is the break or make day, if this rally will exceed the limits for a second degree countertrend giving way to a longer move, the markets have to rally today, otherwise a wide range downside session will point to much lower prices.
The markets have consolidated the recent moves, the SP broke yesterday’s lows below the 804.00 and then below the 798.50 areas, but was able to bounce strong into the end of the session, this is a bullish scenario. The Dow, the futures contract, broke marginally below the 7500 area and rallied from its lows almost 200 points, this is a bullish scenario.

So, buying the pullbacks seem to be the way to go, we can extend the consolidation period, but yesterday’s lows MUST remain intact. I will keep favoring the long side as I still think that this rally may be able to reach the 860.00’s on the SP.

TODAY’S SESSION
There is resistance at yesterday’s key levels, at 810.50-812.50 on the SP, 1239.00-1241.00 on the Nasdaq and 426.30-428.60 on the Russell. If the markets break above them, look for the next areas at 816.00-818.00 on the SP, 1249.00-1251.00 on the Nasdaq and 433.20-434.80 on the Russell to get reached easily. If the rally gets resumed look for the indexes to push higher reaching 825.50-826.50 on the SP, 1261.00-1262.00 on the Nasdaq and 437.80-440.20on the Russell.

There is key support at 804.00-802.00 on the SP, 1226.00-1224.00 on the Nasdaq and 421.70-419.80 on the Russell. An early test of those could offer a good long entry, but nothing good happens if those not hold, failing there may push the indexes lower to 798.00-797.00 on the SP, 1218.00-1216.00 on the Nasdaq and 416.10-415.30. Those are the last support levels before the bears gain control, trading below them could indicate another push down to 789.00-788.00 on the SP, 1205.00-1203.00 on the Nasdaq and 410.30-409.90 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 833.00-834.00 1271.00-1273.00 445.60-447.00
Resistance 3 825.50-826.50 1261.00-1262.00 437.80-440.20
Resistance 2 816.00-818.00 1249.00-1251.00 433.20-434.80
Resistance 1 810.50-812.50 1239.00-1241.00 426.30-428.60
PIVOT 806.25 1233.50 420.70
Support 1 804.00-802.00 1226.00-1224.00 421.70-419.80
Support 2 798.00-797.00 1218.00-1216.00 416.10-415.30
Support 3 789.00-788.00 1205.00-1203.00 410.30-409.90
Support 4 781.00-780.00 1191.00-1189.00 401.20-400.10
S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
978.63 1500.56 537.3
919.06 1408.76 496.7
882.56 1352.51 471.8
860.00 1317.75 456.4
846.06 1296.26 446.9
823.50 1261.50 431.5
809.56 1240.01 422.0
805.25 1233.38 419.1
800.94 1226.74 416.1
787.00 1205.25 406.6
764.44 1170.49 391.2
750.50 1149.00 381.7
727.94 1114.24 366.3
691.44 1057.99 341.4
631.88 966.19 300.8

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 834.00 1247.50 440.20
AS DAILY LOW 797.00 1191.00 415.30

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Mar 27, 2009

DAILY TRADING ADVISORY 27-March-2009

Initial Claims at 652K, continuing Claims above 5.5 million and Q4 GDP minus 6.3%, Best Buy earnings better than expected gave way to another strong rally.
ECONOMIC DATA
8:30 AM Personal Income
8:30 AM Personal Spending
10:00 AM Michigan Sentiment - revision

YESTERDAY’S MARKET
A positive Globex session gave way to a higher opening as the E-mini SP started the day at 819.00 from where it pulled back to 816.50, but after a few bouncing attempts, the SP pushed up to 821.75. Another pullback to 818.50 gets bought just to rally to a new intraday high at 823.50, the previous session high. After failing to break higher the SP pulled back to 816.00. After a two points rebound, the SP pushed lower to 813.75 from where it rallied back to 818.00 but once the Nasdaq failed to make a new high sellers stepped in pushing the index down to 811.00, just above my key 810.50 area. A rebound to 815.50 gave way to the SP to setback posting a double bottom at 811.00. With the early lows in place, the SP rallied to 820.00. With very light trading volume and conditions, the SP traded in a sideways pattern, after failing to break above 821.00, the index backed off to 815.50. Quietly, markets started to inch higher with the SP reaching 823.00. The SP pulled back to 817.00 but on thin trading conditions rallied to a new high at 824.50 and then to 826.50 from where it pulled back a couple of points and pushed to a new high at 829.00. After pulling back to 823.00, the previous daily highs, the SP bounced back for another test of the highs, pulled back, tested the highs for a third time and pushed down to 821.00. After bouncing to 824.00 the SP sold off to 817.00 and rallied to a new intraday high at 829.50 inching higher into the close and pulling back a bit during the last minutes of the futures session. For the day, the SP added 19.00 points closing the session at 827.25, the Nasdaq ended higher by 40.00 points at 1273.50 and the Russell closed at 441.40, up 17.40 for the day. The Dow gained 174 points and settled at 7924.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “Well, the bullish scenario remains intact. There is not too much change in my analysis, I still think that the markets will be able to push higher, and as I wrote on my yesterday’s report, the rally will have to start during today’s trading session, that means, today is the break or make day, if this rally will exceed the limits for a second degree countertrend giving way to a longer move, the markets have to rally today, otherwise a wide range downside session will point to much lower prices. The markets have consolidated the recent moves, the SP broke yesterday’s lows below the 804.00 and then below the 798.50 areas, but was able to bounce strong into the end of the session, this is a bullish scenario. The Dow, the futures contract, broke marginally below the 7500 area and rallied from its lows almost 200 points, this is a bullish scenario. So, buying the pullbacks seem to be the way to go, we can extend the consolidation period, but yesterday’s lows MUST remain intact. I will keep favoring the long side as I still think that this rally may be able to reach the 860.00’s on the SP.”

We came into yesterday’s trading session with a bullish sentiment, and the markets acted as expected holding during the early part of the trading session our 810.50 support area and pushing up to new highs.
The different indexes continue to show the expected bullishness, and it may be able to push higher, the end of March bias has the tendency to draw the screens on green. The SP has approached almost the 61.8% Fibonacci retracement between the yearly lows and highs, that level is the 836.00 area, so despite that some resistance could be seen at that price, ones the SP pushes above it, the uptrend may gain additional momentum driving prices up to the next level, above 860.00. The Dow, which was the weakest of the markets during the last sell off is approaching the 8000 level, as the SP resistance is very near.
I can not change my bullish bias at this moment, the rally has exceeded the time length to be qualified only as a second degree countertrend, and now, any pullback that does not pass the 1-4 days may be seen as a buying opportunity, obviously I would prefer that the 800.00 area on the SP and 7500 in the Dow keep holding on a closing base. So even if we see some consolidation or negative session in front of the weekend, the short term primary trend remains positive.

So under this bullish scenario, buying the pullbacks may be the way to go, I will consider that the markets may probable continue higher, and tomorrow, once the action derivate from the economic reports to get released passes, I will try to be a buyer unless I get different signals.

TODAY’S SESSION
There is resistance at yesterday’s highs, at 828.50-830.50 on the SP, 1278.00-1280.00 on the Nasdaq and 443.30-444.80 on the Russell. A double top there, early in the session could give way to a 10.00 to 12.00 points pullback on the SP, but if those get exceeded look for strong resistance at 834.00-836.00 on the SP, 1286.00-1288.00 on the Nasdaq and 449.60-450.50 on the Russell. I assume that the first time the SP gets there, the rally will stall, but once those areas get broken, the way is up and the markets may be able to move up reaching 841.00-843.50 on the SP, 1294.00-1296.00 on the Nasdaq and 454.10-455.60 on the Russell.

There is some support at 825.00-823.00 on the SP, 1267.00-1265.00 on the Nasdaq and 440.10-438.70 on the Russell. If those can not hold, we may see the pullback extend a bit for a test of 820.00-818.00 on the SP, 1259.00-1258.00 on the Nasdaq and 433.90-432.70 on the Russell. If the session will show only strength, those may hold, but if the action will give way to some profit taking look for a visit to 814.50-812.50 on the SP, 1252.50-1249.50 on the Nasdaq and 429.60- 428.10 on the Russell from where a huge reversal to the upside could take place. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 850.00-852.00 1303.00-1304.00 458.00-459.70
Resistance 3 841.00-843.50 1294.00-1296.00 454.10-455.60
Resistance 2 834.00-836.00 1286.00-1288.00 449.60-450.50
Resistance 1 828.50-830.50 1278.00-1280.00 443.30-444.80
PIVOT 821.50 1262.00 437.50
Support 1 825.00-823.00 1267.00-1265.00 440.10-438.70
Support 2 820.00-818.00 1259.00-1258.00 433.90-432.70
Support 3 814.50-812.50 1252.50-1249.50 429.60-428.10
Support 4 806.00-804.00 1238.00-1236.00 242.10-423.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
929.31 1497.44 526.8
891.37 1414.61 495.5
868.12 1363.86 476.3
853.75 1332.50 464.4
844.87 1313.11 457.1
830.50 1281.75 445.2
821.62 1262.36 437.9
818.88 1256.38 435.6
816.13 1250.39 433.3
807.25 1231.00 426.0
792.88 1199.64 414.1
784.00 1180.25 406.8
769.63 1148.89 394.9
746.38 1098.14 375.7
708.44 1015.31 344.4

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 840.50 1302.00 453.20
AS DAILY LOW 817.25 1252.00 434.00

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Mar 30, 2009

DAILY TRADING ADVISORY 30-March-2009

Personal Spending up .2% and income down .2%, Michigan sentiment near three decade lows. Stocks fluctuate while consolidate the recent gains.

WEEKLY PIVOTS FOR WEEK ENDING 03-April-2009
R3 873.00
R2 851.75
R1 833.50
PP 804.00
S1 798.00
S2 780.00
S3 739.00

ECONOMIC DATA
None

WEEKLY RECAP
This was another positive week for the markets. Monday’s session waited for the rumor to be a fact, news, the Treasury will buy long term bonds in order to reduce the spread between the short term and long term rates. The announcement came after the Existing Home sales data surprised everybody as it jumped 5.1% from the previous month. The markets, opened higher and posted a monster rally, strong buying pressure and trapped short fueled the move, for the day, The SP reached 821.00 before pulling a few points into the close. For the day, the SP rallied 54.00 points and settled at 81.00, the Nasdaq added 64.00 points ending the session at 1252.00 and the Russell finished the day at 430.20, up 32.80. The Dow climbed almost 7% adding 497 points closing at 7775. Without any important economic data to get released during Tuesday’s trading session, markets consolidated the previous session huge move. For the first time in the last twelve months, house prices bounced a bit and the session ended consolidating the previous rally. Good news continued to get released during Wednesday’s trading session, Durable Goods orders came out better than expected, New home sales was up 4.7% and the markets fluctuated during the session and managed to close with some gains. For the day, the SP ended higher by 4.75 points and settled at 808.25, the Nasdaq lost 2 points closing the session at 1234.25 and the Russell gained 9.90 points closing at 425.00.The Dow added 89 points and closed at 7749 after an erratic trading session. Bullishness conditions continue during Thursday-s session as the markets traded at their most recent highs, Initial Claims came out at 652K while continuing claims passed the 5.5 million, also the GDP for the 4Q came at minus 6.3%, worst than expected, but the better results of Best Buy gave way to a good rally, the SP added 19.00 points closing the session at 827.25, the Nasdaq ended higher by 40.00 points at 1273.50 and the Russell closed at 441.40, up 17.40 for the day. The Dow gained 174 points and settled at 7924. Friday’s session showed weakness, some profit taking into the weekend, the session opened below the previous session settlements and after the Personal spending data came out .2% up and income .2% lower, the Michigan sentiment report that measures consumer confidence held near its three decade lows. After a trading session with narrow ranges, the SP lost 11.75 points and settled at 815.50, the Nasdaq ended lower by 18.75 points closing for the weekend at 1254.25 and the Russell pulled back 13.40 points during the session closing at 428.50. The Dow lost 148 points and closed at 7776.

FRIDAY’S MARKET
A negative nightly session gave way to a lower opening as the E-mini SP started the session at 817.00 and backed off to 815.00 and bounced back to 817.50 just to get sold to a new intraday low at 813.25. After trading in a narrow range for more than twenty minutes, the index pushed higher reaching the 818.75 area. Unable to break above the 821.50 pivot point, the SP sold off to new lows at 811.50 holding at my support areas where buyers stepped in pushing the index up to 819.00.While struggling to move up, the SP pulled back to 817.00 and then bounced back to 821.50. The SP repeated the pullback to 817.00 and bounced to the 821.00 area. After holding there and failing to trade higher, the index pulled back to 816.00 bounced to 819.00 and sold off to 812.75. The test of my support levels gave way to a short covering rally that reached 818.75 where sellers stepped back in and pushed the index down to 809.50 from where it bounced to 814.00 and then to 816.75. The SP pulled back to 811.00 and rallied strong to 819.75 but failed to break above the daily highs and backed off to test the lows from where it bounced a few points into the close. For the day, the SP lost 11.75 points and settled at 815.50, the Nasdaq ended lower by 18.75 points closing for the weekend at 1254.25 and the Russell pulled back 13.40 points during the session closing at 428.50. The Dow lost 148 points and closed at 7776.

.

MARKET COMMENTARY AND OUTLOOK
Friday I wrote: “Wednesday’s rally and yesterday’s early bounce that failed, have posted a near term high that may hold for a few days, the markets have to consolidate the last move, and as yesterday, I suspect that the pullback will continue. The markets are overextended and if not today, during the next week they will have to test lower prices, first the 760.00 on the SP. The Dow, its another story, I wrote about the obvious resistance area around the 7500 level, and even if the last Fed’s measures are trying to draw the floor for this index, a pullback to 7000 won’t make any danger Today, the expiration has historically been a bullish day, but the extension of the last move could make difficult for the indexes to continue to push higher without any pullback or a two to three consolidating sessions, so unless the SP breaks above our third resistance level, selling the rallies may be the way to go.”

After spending Friday’s session in the red, markets kept consolidating the recent gains. The 810.50-808.50 areas on the SP held during the session and for the close. With most of the gains done during Monday’s session and despite a new high in the middle of the week, markets consolidated the huge rally derived from Secretary Geithner’s plan to buy bad assets. The markets advanced more than 6% during the week.

The SP continues to hold indicating the bullish characteristics of the last move, and despite that the index struggled to push higher during the last two sessions of the week, this distribution pattern still indicates higher prices. The end of month and quarter, usually carries a bullish bias, and could give way to some windows dressing. Also, next Friday monthly job report, if it comes out in line or not worst than expected, we could see a strong upside move, a spike that may exhaust in the short term the already extended rally.

The current move from the lows have exceeded the 12 to 13 days, and the current consolidation or distribution pattern could make its highs next Friday, when the move from the lows will be almost 30 days old, an important cyclical time for this run, if the rally ends in this period of time, turning down, we could see a move that eventually will test the March lows or post a higher low in the daily charts; if the rally holds after next Friday, then it may be able to run for another two weeks before it runs out of gas.
Meanwhile, for this bullish scenario to continue, the 800.00 area on the SP and 7500 level on the Dow will have to hold on a closing base, and probably if that happens, the 860.00-880.00 range on the SP could be reached.
For today’s trading session, early weakness that manage to hold our first support areas, may give way to a test of the recent highs, and if the markets push lower but respect our second support levels, the consolidation could continue for another session resulting in a very strong rally next Tuesday.

TODAY’S SESSION
There is initial resistance at 819.75-821.50 on the SP, 1261.00-1263.50on the Nasdaq and 431.80-433.30 on the Russell, an early bounce that fail to trade above those levels, below Friday’s intraday highs will signal that the current consolidation could continue and will indicate lower prices during the session. But if those areas get exceeded, look for a test of 826.00-827.50 on the SP, 1271.00-1272.00 on the Nasdaq and 436.70-438.70 on the Russell. Trading above them will place the markets on the way for a test of the most recent intraday highs at 833.50-834.00 on the SP, 1280.00-1282.00 on the Nasdaq and 441.60-443.00 on the Russell.

Initial and important support that acted well during last Friday’s session is at 812.00-810.50 on the SP, 1250.00-1248.50 on the Nasdaq and 426.80-426.00 on the Russell. Trading below them will push the indexes to a test of the KEY areas at 806.50-804.50 on the SP, 1243.00-1241.00 on the Nasdaq and 422.80-420.20 on the Russell. Nothing good happens if those areas can not hold and trading below them could suggest that the end of month will see some profit taking and may push prices lower to 798.00-796.00 on the SP, 1234.00-1232.00 on the Nasdaq and 416.90-416.30 on the Russell. If buyers do not stand in line to jump in at those levels, we may have a short term high. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 839.00-841.00 1289.00-1291.00 448.60-449.70
Resistance 3 833.50-834.00 1280.00-1282.00 441.60-443.00
Resistance 2 826.00-827.50 1271.00-1272.00 436.70-438.70
Resistance 1 819.75-821.50 1261.00-1263.50 431.80-433.30
PIVOT 818.50 1260.00 432.70
Support 1 812.00-810.50 1250.00-1248.50 426.80-426.00
Support 2 806.50-804.50 1243.00-1241.00 422.80-420.20
Support 3 798.00-796.00 1234.00-1232.00 416.90-416.30
Support 4 790.75-788.50 1221.25-1218.00 410.70-408.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
917.13 1400.25 510.1
883.67 1352.92 484.1
863.17 1323.92 468.2
850.50 1306.00 458.4
842.67 1294.92 452.3
830.00 1277.00 442.5
822.17 1265.92 436.4
819.75 1262.50 434.6
817.33 1259.08 432.7
809.50 1248.00 426.6
796.83 1230.08 416.8
789.00 1219.00 410.7
776.33 1201.08 400.9
755.83 1172.08 385.0
722.38 1124.75 359.0

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 823.00 1266.50 435.70
AS DAILY LOW 802.50 1237.50 419.80

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Mar 31, 2009

Daily Trading Advisory 31-March-2009

DAILY TRADING ADVISORY 31-March-2009

Global stocks tumble on Geithner’s warning that banks may need additional help, automakers plan was rejected, GM’s Wagoner forced out and the industry may get one last chance. Chrysler reaches deal for alliance with Fiat but markets close sharply lower for the day.

ECONOMIC DATA
9:00 AM S&P Case-Shiller Home Price Index
9:45 AM Chicago PMI
10:00 AM Consumer Confidence

YESTERDAY’S MARKET
After trading sharply lower during the Globex session, the E-mini SP kicked off at 794.00 from where it pushed down to 789.00. A feeble bounce to 792.25 failed to break higher and the SP fell to a new intraday low at 786.50. With the markets under strong pressure and the YM trading below 7500 the SP bounced to 790.25. With no buyers stepping in, the SP pulled back to 787.25 and after posting a higher low bounced to 790.75 where it failed. The SP pushed lower to a new low at 782.25 from where guided by the Russell bounced to 785.25 and fell to a new low at 781.25. With the Nasdaq and Russell holding their lows, the SP bounced all the way up to 786.00 just to fail once more and get pushed to a new low at 780.25 from where it bounced to 783.75, pulled back to 781.50 and bounced back to 784.00. The index pulled back a couple of points and targeted once more the 787.00 level. After failing to break the previous support and now resistance area, the SP backed off to 781.50 and then posted a new low at 778.00 and bounced to 783.50.after failing at the 784.00 level, the SP pushed all the way down to 775.50. After holding there, the index bounced to 783.25 and traded in a narrow range into the close showing some short covering. For the day, the SP lost 31.75 points and settled at 784.25, the Nasdaq ended lower by 33.50 points at 1222.50 and the Russell closed at 414.80 after losing 14.10 points during the day. The Dow lost 254 points closing the session at 7522.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “The SP continues to hold indicating the bullish characteristics of the last move, and despite that the index struggled to push higher during the last two sessions of the week, this distribution pattern still indicates higher prices. The end of month and quarter, usually carries a bullish bias, and could give way to some windows dressing. Also, next Friday monthly job report, if it comes out in line or not worst than expected, we could see a strong upside move, a spike that may exhaust in the short term the already extended rally. The current move from the lows have exceeded the 12 to 13 days, and the current consolidation or distribution pattern could make its highs next Friday, when the move from the lows will be almost 30 days old, an important cyclical time for this run, if the rally ends in this period of time, turning down, we could see a move that eventually will test the March lows or post a higher low in the daily charts; if the rally holds after next Friday, then it may be able to run for another two weeks before it runs out of gas. Meanwhile, for this bullish scenario to continue, the 800.00 area on the SP and 7500 level on the Dow will have to hold on a closing base, and probably if that happens, the 860.00-880.00 range on the SP could be reached. For today’s trading session, early weakness that manage to hold our first support areas, may give way to a test of the recent highs, and if the markets push lower but respect our second support levels, the consolidation could continue for another session resulting in a very strong rally next Tuesday.”

After struggling against the highs during the last three sessions of the past week and showing a negative day last Friday, markets just melted down during today’s session after a weak opening. Monday’s strong correction can be considered a normal condition of this uptrend countermove, and does not indicate yet that the rally has ended, but that can change if today markets post another sell off.
Yesterday’s wide range negative session in which the markets failed to hold critical levels have placed in jeopardy the current rally, and for it to continue markets will have to hold yesterday’s lows and post a positive session. That means, that a consolidation near the lows will probably have bearish implications, so even if the session starts with some weakness, a rally will have to be seen to negate a bearish pattern.
Today is the last trading session of the month, and anything can happen, we have some economic news to get released during the first 90 minutes of the trading session, so it will be critical for the markets to hold during the early morning.
Under this uncertainty, anything but another wide range down session may maintain the rally alive. I will try to be a buyer all the time that the SP can hold the 775.50 yesterday’s lows and I will probably add to my position if this index trades above the 793.00 level, and despite that i9 was totally wrong on my analysis of yesterday’s session, mi indicators still call for this upside move to try and give another try at the 840.00 area.

TODAY’S SESSION
There is initial resistance at 788.00-789.00 on the SP, 1229.00-1232.00 on the Nasdaq and 418.00-419.00 on the Russell, an early bounce that fail to trade above those levels, may indicate that there is still selling pressure, but if the markets push above them, a test of 791.75-793.00 on the SP, 1238.50-1240.00 on the Nasdaq and 421.40-423.00 on the Russell could be seen. Beware of a reversal at those areas, however, once the indexes manage to trade above them bulls may be taking control once more and the indexes may trade higher reaching 797.00-799.00 on the SP, 1250.00-1252.00 on the Nasdaq and 427.10-427.40 on the Russell.

There is support at 781.00-779.00 on the SP, 1216.00-1215.00 on the Nasdaq and 412.70-410.60 on the Russell. Those are pivotal, so all the time that the markets hold above them or trade back above them after breaking below them, there is a chance of a rally, but if those fail, look for the markets to push lower for a test of 776.00-775.00 on the SP, 1208.00-1206.00 on the Nasdaq and 407.00-405.30 on the Russell. A double bottom there could signal a good long entry, but tight stops are recommended because if those fail, then the end of month could get resolved with another sell off pushing the indexes lower to 768.00-766.50 on the SP, 1199.00-1198.00 on the NQ and 402.10.400.50 on the Russell. GOOD LUCK:

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 804.00-806.00 1258.00-1260.00 433.10-434.50
Resistance 3 797.00-799.00 1250.00-1252.00 427.10-427.40
Resistance 2 791.75-793.00 1238.50-1240.00 421.40-423.00
Resistance 1 788.00-789.00 1229.00-1232.00 418.00-419.00
PIVOT 791.50 1227.00 416.60
Support 1 781.00-779.00 1216.00-1215.00 412.70-410.60
Support 2 776.00-775.00 1208.00-1206.00 407.00-405.30
Support 3 768.00-766.50 1199.00-1198.00 402.10-400.50
Support 4 762.00-760.50 1191.00-1189.50 394.80-393.00

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
984.19 1471.25 526.3
919.32 1388.02 489.0
879.57 1337.02 466.1
855.00 1305.50 451.9
839.82 1286.02 443.2
815.25 1254.50 429.0
800.07 1235.02 420.3
795.38 1229.00 417.6
790.68 1222.98 414.8
775.50 1203.50 406.1
750.93 1171.98 391.9
735.75 1152.50 383.2
711.18 1120.98 369.0
671.43 1069.98 346.1
606.56 986.75 308.8

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 799.75 1238.50 421.90
AS DAILY LOW 760.00 1187.50 399.00

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 1, 2009

DAILY TRADING ADVISORY 1st-April-2009

Home Prices decline by record 19%, Chicago PMI at 31.4, lower than expected and Consumer Confidence remains near its historic low. Markets closed higher posting their best monthly advance in many years.

ECONOMIC DATA
8:15 AM ADP Employment
10:00 AM Construction Spending
10:00 AM ISM Index
10:00 AM Pending Home Sales
10:35 AM Crude Inventories
2:00 PM Auto Sales
2:00 PM Truck Sales

YESTERDAY’S MARKET
A positive nightly session gave way to a strong opening, the E-mini SP started the session at 791.75 from where it traded in a narrow range during the first minutes of the session. Unable to break above the 793.75 Globex high, the index pulled back to 787.00 and bounced to 789.75. Once the Consumer Confidence data get released the SP pulled back to 786.50 where buyers stepped in pushing the index up to 792.25. After failing to break the early highs, the SP pulled back to 787.75 and bounced back once more maintaining a narrow trading sideways pattern that finally pushed the SP to a new high at 794.75. As the Russell failed to cooperate, the SP reached 795.50. With mild pullbacks and low trading volumes, the SP continued to post new highs, this time at 796.50. As the end of moth buying pressure continued to act well, the Russell joined the uptrend and the SP pushed slowly higher to 800.00. With the end of quarter bullish bias acting well, the markets continue to inch higher, the SP reached 807.00 from where it pulled back to 801.50, bounced back to 804.50 and pushed down to 799.00, bounced a few points and backed off strongly to 792.25, pushed higher to 798.00 and pulled back to 791.75 into the close. For the day the SP added 6.25 points and settled at 790.50, the Nasdaq closed higher by 4.75 points at 1227.50 and the Russell gained 3.20 points closing the session at 418.00. The Dow recovered 79 points ending the session at 7601.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “Monday’s strong correction can be considered a normal condition of this uptrend countermove, and does not indicate yet that the rally has ended, but that can change if today markets post another sell off. Yesterday’s wide range negative session in which the markets failed to hold critical levels have placed in jeopardy the current rally, and for it to continue markets will have to hold yesterday’s lows and post a positive session. That means, that a consolidation near the lows will probably have bearish implications, so even if the session starts with some weakness, a rally will have to be seen to negate a bearish pattern. Today is the last trading session of the month, and anything can happen, we have some economic news to get released during the first 90 minutes of the trading session, so it will be critical for the markets to hold during the early morning. Under this uncertainty, anything but another wide range down session may maintain the rally alive. I will try to be a buyer all the time that the SP can hold the 775.50 yesterday’s lows and I will probably add to my position if this index trades above the 793.00 level, and despite that I was totally wrong on my analysis of yesterday’s session, my indicators still call for this upside move to try and give another try at the 840.00 area.”Yesterday expected rally managed to scare some short traders, but the weakness during the last hour of the session, once the high at 807.00 on the SP was reached has placed the indexes once more on a neutral position, some kind of consolidation waiting for the next strong move.
The last few days of the past week, when the markets struggle to move up, Monday’s sell off, and yesterday’s late sell off and weak close, do not picture a bullish scenario. The way the SP will resolve the current rally will be seen only by the end of the week, the key for lower prices to come, seems to be Monday’s night low at 784.00 on the SP and 7477 on the Dow futures, but a sell off attempt that fails to gain momentum, could give way to a strong rally next week.
Meanwhile for Wednesday’s trading session, the markets will have to hold above the levels I just mentioned, with yesterday’s close below fair value, the futures contracts may be pointing for a lower opening.
There is a bunch of economic data to get released during tomorrow’s session, before the opening, the ADP Employment data which measures the private job market, later in the session, last data on the housing markets and the ISM index will highly impact the trading session. The weak close, calls to be a seller on the bounces, all the time that the 804.50 area on the SP remains intact.
Take into account that the end of moth settlement prices were adjusted to fair value, so you may see that the net change on the price contract does not take into account yesterday’s last trade, this happens every end of month, independent of where the future contracts settled the price is adjusted. My numbers are based on the real closing prices.

TODAY’S SESSION
There is initial resistance at 794.50-795.50 on the SP, 1232.00-1234.00 on the Nasdaq and 420.10-421.10 on the Russell, markets may be considered weak all the time that those levels hold, if the opening is above them or the futures break above them, look for a test of 798.75-800.00 on the SP, 1238.50-1240.00 on the Nasdaq and 424.30-425.60 on the Russell. It may be that those will get sold the first time they get tested, however, if those get exceeded look for the indexes to reach 803.00-804.50 on the SP, 1247.00-1248.00 on the Nasdaq and 428.90-430.50 on the Russell. Trading above them could get the rally resumed.

Initial support at 788.00-786.50 on the SP, 1221.00-1218.00 on the Nasdaq and 414.80-413.80 on the Russell. Trading below them could force the markets down to 782.00-780.50 on the SP, 1212.00-1210.00 on the Nasdaq and 410.50-408.60 on the Russell. If the current uptrend, or consolidation will continue, those MUST hold, failure to do so, will push the markets to a test of Friday’s lows at 777.00-775.50 on the SP, 1200.00-1198.00 on the Nasdaq and 405.00-403.50 on the Russell. If those can not hold, then much lower prices could be seen during the rest of the week. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 809.00-811.00 1258.00-1260.00 434.90-436.00
Resistance 3 803.00-804.50 1247.00-1248.00 428.90-430.50
Resistance 2 798.75-800.00 1238.50-1240.00 424.30-425.60
Resistance 1 794.50-795.50 1232.00-1234.00 420.10-421.10
PIVOT 793.75 1235.75 417.70
Support 1 788.00-786.50 1221.00-1218.00 414.80-413.80
Support 2 782.00-780.50 1212.00-1210.00 410.50-408.60
Support 3 777.00-775.50 1200.00-1198.00 405.00-403.50
Support 4 771.00-770.00 1184.00-1182.00 400.10-398.80

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
904.75 1409.69 506.2
867.21 1351.34 477.6
844.21 1315.59 460.1
830.00 1293.50 449.3
821.21 1279.84 442.6
807.00 1257.75 431.8
798.21 1244.09 425.1
795.50 1239.88 423.1
792.79 1235.66 421.0
784.00 1222.00 414.3
769.79 1199.91 403.5
761.00 1186.25 396.8
746.79 1164.16 386.0
723.79 1128.41 368.5
686.25 1070.06 339.9

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 808.00 1260.00 433.30
AS DAILY LOW 784.00 1224.00 415.70

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 2, 2009

DAILY TRADING ADVISORY 02-April-2009

ADP Employment minus 742K, new concerns about GM. Pending Home sales up 2.1%. Factory orders shows a slightly improvement. Automakers post deep declines for March sales, markets rally from early lows.

ECONOMIC DATA
8:30 AM Initial Claims
10:00 AM Factory Orders

YESTERDAY’S MARKET
Markets traded lower during the Globex session giving way to a negative opening. The E-mini SP started the session at 782.00 from where it pulled back to 779.00. After holding the Globex lows, the SP bounced to 783.25 and pulled back to 781.00. While the markets waited for the economic numbers to get released, the SP bounced to 784.50 and once the data was out, the index pushed strongly higher reaching 790.75. With more shorts running to cover, the SP reached 796.00, pulled back to 792.00 and pushed higher once more reaching 800.00. After pulling back to 795.00, the SP continued to press higher and rallied to 802.75 from where it backed off to 798.50 just to get bought to push higher to 805.25. With the markets feeling heavy, the SP pushed down to 800.50. After trading in a narrow range above the 800.00 area and with the Russell starting to show some weakness the SP tested the 798.50 support level. Once the index held the pullback, it pushed higher to new highs at 809.00.After testing the highs, the SP pulled back to 804.50 and bounced once more to the 808.00 area and sold off to 802.00, bounced a couple of points and tested once more the 798.50 area. Once more the index held and bounced to 804.00, another pullback to the 800.00 area get resolved with another rally to a new marginal high at 809.75. For the day the SP closed higher by 14.50 points at 809.25, the Nasdaq added 13.50 points and settled at 1251.00 and the Russell managed to close higher by 5.40 points at 426.70.The Dow rallied solidly from the early lows advancing 152 points ending the session at 7761.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “Yesterday expected rally managed to scare some short traders, but the weakness during the last hour of the session, once the high at 807.00 on the SP was reached has placed the indexes once more on a neutral position, some kind of consolidation waiting for the next strong move. The last few days of the past week, when the markets struggle to move up, Monday’s sell off, and yesterday’s late sell off and weak close, do not picture a bullish scenario. The way the SP will resolve the current rally will be seen only by the end of the week, the key for lower prices to come, seems to be Monday’s night low at 784.00 on the SP and 7477 on the Dow futures, but a sell off attempt that fails to gain momentum, could give way to a strong rally next week. Meanwhile for Wednesday’s trading session, the markets will have to hold above the levels I just mentioned, with yesterday’s close below fair value, the futures contracts may be pointing for a lower opening. There is a bunch of economic data to get released during tomorrow’s session, before the opening, the ADP Employment data which measures the private job market, later in the session, last data on the housing markets and the ISM index will highly impact the trading session. The weak close, calls to be a seller on the bounces, all the time that the 804.50 area on the SP remains intact.”

Yesterday’s early weakness and nightly low, was resolved to the upside once the SP traded above the 784.00 level, once that happened, markets never looked back.
The last five trading session where the indexes have maintained a wide sideways pattern may continue into Thursday’s session as the markets get ready for next Friday unemployment figures. I would not be surprise if we see some kind of narrow range session where trading opportunities may be seen on both sides of the markets.
Yesterday strong support at the 798.50 area and the recent highs at 810.50-812.00 which has been acting as good resistance may be the range where the markets could spend most of the session, and, only a break above those support and resistance levels may be the indicator of the next strong move.
On the short term, it seems that the markets will be OK as long as the 779.00-777.00 area can hold, but once that level fail the 740.00’s could get visited. Meanwhile holding above those areas may give way to a test of the most recent highs around the 840.00 area, the story will be written next Friday when the monthly unemployment figures get released.
For today’s trading session, getting short on an early test of yesterday’s highs may be a good idea, but don’t overstay in your position as trapped shorts may be bidding the markets up.

TODAY’S SESSION
There is resistance at yesterday’s highs at 811.00-812.50 on the SP, 1255.00-1257.00 on the Nasdaq and 429.20-430.10 on the Russell, If the markets fail to trade above them, a good pullback of 10.00 to 12.00 SP points could be seen, but if the indexes trade higher look for a test of 815.00-816.50 on the SP, 1261.50-1263.00 on the Nasdaq and 433.50-434.70 on the Russell as shorts continue to cover. If those can not stop the move then the markets may push higher reaching 820.00-822.00 on the SP, 1269.50-1272.00 on the Nasdaq and 437.00-438.20 on the Russell. Trading above them will indicate a test of the most recent highs.

There is good support at 806.00-804.50 on the SP, 1244.00-1242.00 on the Nasdaq and 423.60-422.40 on the Russell, if those fail look for some profit taking that could test the 800.50-799.00 areas on the SP, 1236.00-1234.00 on the Nasdaq and 419.20-418.70 on the Russell. Those MUST hold or the bears will start to feel comfortable, if those can not hold then the recent up and down will continue pushing the markets once more to the 796.00-795.00 on the SP, 1228.00-1226.00 on the Nasdaq and 414.80-413.50 on the Russell. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 828.50-830.75 1281.00-1283.00 441.60-442.00
Resistance 3 820.00-822.00 1269.50-1272.00 437.00-438.20
Resistance 2 815.00-816.50 1261.50-1263.00 433.50-434.70
Resistance 1 811.00-812.50 1255.00-1257.00 429.20-430.10
PIVOT 799.50 1238.50 421.50
Support 1 806.00-804.50 1244.00-1242.00 423.60-422.40
Support 2 800.50-799.00 1236.00-1234.00 419.20-418.70
Support 3 796.00-795.00 1228.00-1226.00 414.80-413.50
Support 4 792.00-790.50 1220.00-1218.50 410.00-408.20

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
943.06 1444.94 507.4
892.06 1371.91 477.0
860.81 1327.16 458.4
841.50 1299.50 446.9
829.56 1282.41 439.8
810.25 1254.75 428.3
798.31 1237.66 421.2
794.63 1232.38 419.0
790.94 1227.09 416.8
779.00 1210.00 409.7
759.69 1182.34 398.2
747.75 1165.25 391.1
728.44 1137.59 379.6
697.19 1092.84 361.0
646.19 1019.81 330.7

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 825.25 1275.25 436.80
AS DAILY LOW 794.00 1230.50 418.20

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 3, 2009

DAILY TRADING ADVISORY 03-April-2009

ECB rate cut to 1.25%, Initial Claims at its highest level since 1982, 669K and Continuing Claims reaching 5.73 million. Factory orders rise 1.8%, the first time in seven months. Markets rallied strong during an only green session.

ECONOMIC DATA
8:30 AM Average Workweek
8:30 AM Hourly Earnings
8:30 AM Nonfarm Payrolls
8:30 AM Unemployment Rate
10:00 AM ISM Services Index

YESTERDAY’S MARKET
Markets rallied strong during the Globex session, the E-mini SP started the session at 826.50 and after testing 827.00 pulled back to 824.50, after trying to break above the early high, the index backed off to 823.50. The SP rallied to 828.25 where a small double top gave way to another pullback, this time to 825.00 from where it rally to new highs at 832.25, and then backed off to 828.00 just to rebound to a new marginal high at 832.75.The SP pulled back once more, this time to 828.25. A feeble bounce resulted in a new low at 826.00. With good buying at the 826.00 area, the SP bounced back reaching a new high at 833.00. Holding near the highs, the markets continued to be strongly bided and the SP rallied to a new high at 838.75 from where it pulled back to 834.50.with the markets pushing in one direction, the SP reached 842.25. Finally the buying pressure ended and the markets pulled back, first to 835.50 and then to 831.50 where a series of bottoms gave way to a rebound to the 835.50. The SP traded in a sideways pattern for almost one hour that finally broke higher reaching 840.50 from where it pulled back to test the previous lows, during the last hour of the session the SP broke lower but managed to bounce into the close. For the day the SP closed higher by 26.25 points at 835.50, the Nasdaq added 50.50 points and settled at 1301.50 and the Russell managed to close higher by 23.50 points at 450.20.The Dow rallied solidly from the early lows advancing 216 points ending the session at 7998.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “The last five trading session where the indexes have maintained a wide sideways pattern may continue into Thursday’s session as the markets get ready for next Friday unemployment figures. I would not be surprise if we see some kind of narrow range session where trading opportunities may be seen on both sides of the markets. Yesterday strong support at the 798.50 area and the recent highs at 810.50-812.00 which has been acting as good resistance may be the range where the markets could spend most of the session, and, only a break above those support and resistance levels may be the indicator of the next strong move. On the short term, it seems that the markets will be OK as long as the 779.00-777.00 area can hold, but once that level fail the 740.00’s could get visited. Meanwhile holding above those areas may give way to a test of the most recent highs around the 840.00 area, the story will be written next Friday when the monthly unemployment figures get released. For today’s trading session, getting short on an early test of yesterday’s highs may be a good idea, but don’t overstay in your position as trapped shorts may be bidding the markets up.”Up, up, up has been the last trading sessions, with the S&P posting a 6% advance, yesterday’s huge opening gap and rally, may have not be the end of this bull run. We have pointed since last week that the second degree countertrend move that showed only intraday or one day pullbacks would have been able to last at list to the first week of April, and yesterday’s action, with a new high for the move may be able to continue and probably test the 860.00 area or higher, 880.00.
But not so fast, last time that the SP posted a new high, the next session the opening was negative and the index showed a sizeable pullback, a sell off that showed a wide range. Tomorrow’s unemployment figures to get released before the opening, may give the markets a reason to take some profits, so a lower opening, may not be able to get the markets back in positive territory.
With that I mean, that despite that the trend is up, and the conviction between investors is that the worst of the crisis is behind us, markets could show some profit taking, in particular on a Friday after such nice gains.
So independent of how the markets react to the economic news, some selling may be seen, the first signs will be the SP below the 832.00 area, and if that index trades below 826.00 sellers may gain control in the short term. The Dow has been rejected twice from the 8000 level, so another failure could indicate a good pullback for this market.
Take into account that on a daily base, the trend remains to the upside, and even with a negative session as a consequence of the unemployment figures, which are a lagging indicator, any sell off may still be considered as a buying opportunity, at least until the 775.00 area on the SP gets violated.

TODAY’S SESSION
There is resistance at yesterday’s late highs at 838.50-840.50 on the SP, 1308.00-1310.00 on the Nasdaq and 452.70-454.20 on the Russell, If the markets post a double top up there, we could have a short term high, but if the indexes trade or open higher look for a test of 843.50-845.00 on the SP, 1318.00-1321.00 on the Nasdaq and 457.80.458.90 on the Russell as shorts will continue to cover. If those can not stop the move then the markets may push higher reaching our objective for this Friday at 849.00-851.00 on the SP, 1333.00-1335.50 on the Nasdaq and 461.70-463.00 on the Russell. Trading above them will indicate a test of the most recent highs.

There is some support at 832.00-830.00 on the SP, 1294.00-1292.00 on the Nasdaq and 447.00-445.40 on the Russell, if those fail look for the move to reach the next important levels at 827.50-826.00 areas on the SP, 1285.00-1283.50 on the Nasdaq and 442.50.441.10 on the Russell. If those hold we could see a strong rebound and a strong close for the week, but if they fail, look for some more profit taking pushing the indexes down to 821.00-819.50 on the SP, 1272.00-1270.00 on the NQ and 435.10-434.60 on the Russell. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 854.50-856.00 1342.00-1344.00 467.10-468.20
Resistance 3 849.00-851.00 1333.00-1335.50 461.70-463.00
Resistance 2 843.50-845.00 1318.00-1321.00 457.80.458.90
Resistance 1 838.50-840.50 1308.00-1310.00 452.70-454.20
PIVOT 828.25 1287.00 443.80
Support 1 832.00-830.00 1294.00-1292.00 447.00-445.40
Support 2 827.50-826.00 1285.00-1283.50 442.50.441.10
Support 3 821.00-819.50 1272.00-1270.00 435.10-434.60
Support 4 816.00-814.00 1263.00-1261.00 429.90-428.30

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
991.00 1574.25 571.1
933.88 1473.07 526.2
898.88 1411.07 498.7
877.25 1372.75 481.7
863.88 1349.07 471.2
842.25 1310.75 454.2
828.88 1287.07 443.7
824.75 1279.75 440.5
820.62 1272.43 437.2
807.25 1248.75 426.7
785.62 1210.43 409.7
772.25 1186.75 399.2
750.62 1148.43 382.2
715.62 1086.43 354.7
658.50 985.25 309.8

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 856.00 1337.00 466.00
AS DAILY LOW 821.00 1275.00 438.50

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 6, 2009

DAILY TRADING ADVISORY 06-April-2009

Unemployment rate at 8.5%, the highest since 1983, Nonfarm Payrolls minis 663K, ISM Index shrinks for the 6th consecutive month. Markets fluctuate closing strong for the week.

WEEKLY PIVOTS FOR WEEK ENDING 03-April-2009
R3 889.00
R2 878.50
R1 859.00
PP 820.00
S1 821.00
S2 802.00
S3 751.00

ECONOMIC DATA
None

WEEKLY RECAP
Markets posted another positive week with all the indexes rallying almost 30 days. Monday’s session kicked off with strong selling and a negative sentiment. As the automakers plan was rejected by the government and GM Wagoner was forced out as President Obama pointed that bankruptcy could be considered for this company and Secretary Geithner indicated during the weekend that banks may need additional help, the session opened lower and never looked back. The markets traded on the red during all the session, and by the end of the day, the SP lost 31.75 points and settled at 784.25, the Nasdaq ended lower by 33.50 points at 1222.50 and the Russell closed at 414.80 after losing 14.10 points during the day. The Dow lost 254 points closing the session at 7522. With the end of month and quarter bullish bias, investors ignored all of the Tuesday’s bad economic reports, the S&P Case-Shiller Index, indicated that home prices continued to shrink; the annual rate reached a record 19% decline. The Chicago PMI index came out at 31.4, much lower than expected, and Consumer Confidence continued near its historic lows, however, markets rallied closing the best March in many years. For the day the SP added 6.25 points and settled at 790.50, the Nasdaq closed higher by 4.75 points at 1227.50 and the Russell gained 3.20 points closing the session at 418.00. The Dow recovered 79 points ending the session at 7601. Wednesday’s session markets continued to rally. A lower opening was reversed early in the morning, the ADP Employment data, which measures jobs on the private sector, came out showing a loss of 742K jobs, automakers reported a sharp decline in March sales, but Pending Home sales surprised after coming out with a 2.1% increase and buyers continued to press the markets higher, for the session, the SP closed higher by 14.50 points at 809.25, the Nasdaq added 13.50 points and settled at 1251.00 and the Russell managed to close higher by 5.40 points at 426.70.The Dow rallied solidly from the early lows advancing 152 points ending the session at 7761. Thursday the markets gapped up with the ECB cutting rates to 1.25% and hopes that the worst of the crisis is behind us, also, notices that the mark to market accounting rules will be eased, and that, will favor the banks; Weekly jobless claims increased by 12,000 reaching 669K, and Continuing Claims jumped to 5.73 millions. Factory orders were up by 1.8% and the markets closed the session with strong gains but below their best levels of the session, the SP closed higher by 26.25 points at 835.50, the Nasdaq added 50.50 points and settled at 1301.50 and the Russell managed to close higher by 23.50 points at 450.20.The Dow rallied solidly from the early lows advancing 216 points ending the session at 7998. Friday’s session, markets traded slightly higher before the release of the March unemployment data, once the numbers came out, the SP popped to a new high for the recent rally reaching 844.50, but gets reversed as the data showed that the March Unemployment rate reached 8.5% and that during the month, another 663K jobs were lost, later in the session, the ISM Services Index reported it’s 6th month decline. During the early morning, markets stood under pressure despite the relatively strength on the Nasdaq that managed to give way to a consolidating session that finally pushed up to a positive close near the most recent highs. For the day, the SP added 5.00 points and settled at 840.50, the Nasdaq closed up by 14.75 points at 1316.25 and the Russell gained 6.20 points finishing the week at 456.40. The Dow added another 39 points closing at 8017. For the week, the SP and Dow gained more than 3% and the Nasdaq finally pushed to the green for the year.

FRIDAY’S MARKET
After reaching 844.50 during the nightly session once the unemployment figures were released, the E-mini SP started the session at 830.50 and pulled back to the 829.25 Globex lows. A rebound to 832.00 followed by another test of the lows, placed the SP once more at 833.00. After a few attempts to break higher and with mixed conditions as the Nasdaq was showing good support, the SP finally pushed lower to a new low at 827.00. With the markets waiting for the release of the next piece of economic information, the SP bounced back to 831.00 and pushed down to a new low at 826.00 and then at 824.50. After printing a double bottom at that level, the SP bounced back to 828.00 just to get sold once again, this time to 822.75. After trading in a narrow range for more than an hour, the SP rebounded to 829.50 and leaded by the Nasdaq pushed higher to 833.75, just below our intraday resistance areas. With very light trading volumes, the SP pulled back to 828.50. After testing that level a few times, the SP bounced back to 834.50, pulled back a couple of points and rallied to 836.00 and then to 838.00 from where it pulled back to 833.75, tested the 829.00 level and bounced continuing to trade in a sideways pattern that finally broke up closing near the best levels of the session and at new highs for this late upside move. For the day, the SP added 5.00 points and settled at 840.50, the Nasdaq closed up by 14.75 points at 1316.25 and the Russell gained 6.20 points finishing the week at 456.40. The Dow added another 39 points closing at 8017.

.

MARKET COMMENTARY AND OUTLOOK
Friday I wrote: “Up, up, up has been the last trading sessions, with the S&P posting a 6% advance, yesterday’s huge opening gap and rally, may have not be the end of this bull run. We have pointed since last week that the second degree countertrend move that showed only intraday or one day pullbacks would have been able to last at list to the first week of April, and yesterday’s action, with a new high for the move may be able to continue and probably test the 860.00 area or higher, 880.00. But not so fast, last time that the SP posted a new high, the next session the opening was negative and the index showed a sizeable pullback, a sell off that showed a wide range. Tomorrow’s unemployment figures to get released before the opening, may give the markets a reason to take some profits, so a lower opening, may not be able to get the markets back in positive territory. With that I mean, that despite that the trend is up, and the conviction between investors is that the worst of the crisis is behind us, markets could show some profit taking, in particular on a Friday after such nice gains. So independent of how the markets react to the economic news, some selling may be seen, the first signs will be the SP below the 832.00 area, and if that index trades below 826.00 sellers may gain control in the short term. The Dow has been rejected twice from the 8000 level, so another failure could indicate a good pullback for this market. Take into account that on a daily base, the trend remains to the upside, and even with a negative session as a consequence of the unemployment figures, which are a lagging indicator, any sell off may still be considered as a buying opportunity, at least until the 775.00 area on the SP gets violated.”

We came into Friday’s session looking for the markets to show some profit taking keeping a short term bullish bias, the session which was mixed for most of the day, gave way to some early selling and consolidated the last rally making the daily gains during the last hour of the session.
Last Thursday’s strong opening gap and the failure to close near the highs, followed by the pre-market Friday’s spike to 844.50 on the SP and 8035 on the Dow forced a consolidating session as the first week of April indicates resistance in time, 30 days from the recent lows, but the consolidation and late upside move, kept intact the uptrend.
I have learned from a great position trader that wide gaps up as the one of last Thursday magnitude, while in bear trends are almost always an exhaustion of the movement. In bull trends there tends to a consolidation of a few days. By this I mean that if the SP holds for the next few sessions, or even gap up once more for Monday’s trading session, the rally may be able to continue at least for another 10 to twelve sessions. Only a reversal, another big opening gap or a daily spike will exhaust this move
The Dow futures contract is showing a similar pattern to the SP where a higher low was posted in March and since then have rallied, however, this index has been rejected twice from the 8000 level and if it breaks above it, it still faces strong resistance around the 8200 area. The Nasdaq, is the one that is leading the recent rally, and it may be closer to an exhausting move, but for now, has already exceeded the yearly highs, and only if this is a false break for that index above the January and March highs, that index will start to trend down, leading also the move to the downside.
Things may not move much during next week's holiday-shortened week; markets are closed on Friday in observance of Good Friday. Alcoa opens the first quarter earnings season when it reports results Tuesday after the close, but things do not really begin to pick up until late the next week. So expect a low volume week as markets will start to slow down.
During this rally, Mondays have seen lower prices or negative closes, and if the markets start to trade lower after testing last Friday’s Globex 844.50 level on the SP, our first resistance area, I will try to stay short, but strong support may be seen at the 831.00 level, the first indication of profit taking will be the SP trading below 838.00, and if the Nasdaq is also showing some weakness, try to play the short side.

TODAY’S SESSION
There is initial resistance at 843.00-844.50 on the SP, 1319.00-1321.50 on the Nasdaq and 458.10-459.30 on the Russell, an early bounce that fail to trade above those levels, at Friday’s Globex highs will indicate lower prices during the session as some profit taking take place. But if those areas get exceeded, look for a test of 848.00-849.50 on the SP, 1326.00-1328.00 on the Nasdaq and 461.50-462.20 on the Russell. Trading above them will place the markets on the way to the next levels near the 860.00 on the SP with some resistance at 852.50-853.00 on the SP, 1334.00-1336.50 on the Nasdaq and 465.00-465.80 on the Russell.

Initial support is at 836.00-834.00 on the SP, 1311.50-1309.50 on the Nasdaq and 453.50-452.10 on the Russell. Trading below them will push the indexes to a test of the KEY support areas at 831.00-829.50 on the SP, 1302.00-1300.00 on the Nasdaq and 448.80-446.40 on the Russell. Nothing good happens if those areas can not hold and trading below them could suggest that the current holiday shortened week may see some profit taking that may push prices lower to 826.00-825.00 on the SP, 1294.00-1293.00 on the Nasdaq and 442.20-441.00 on the Russell. If the markets hold near those areas and bounce, another positive week could be seen. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 857.50-858.50 1247.00-1249.50 468.30-469.50
Resistance 3 852.50-853.00 1334.00-1336.50 465.00-465.80
Resistance 2 848.00-849.50 1326.00-1328.00 461.50-462.20
Resistance 1 843.00-844.50 1319.00-1321.50 458.10-459.30
PIVOT 836.00 1309.00 452.00
Support 1 836.00-834.00 1311.50-1309.50 453.50-452.10
Support 2 831.00-829.50 1302.00-1300.00 448.80-446.40
Support 3 826.00-825.00 1294.00-1293.00 442.20-441.00
Support 4 821.50-820.00 1286.00-1285.00 436.40-435.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
936.94 1423.19 523.9
901.44 1382.80 498.4
879.69 1358.05 482.8
866.25 1342.75 473.2
857.94 1333.30 467.2
844.50 1318.00 457.6
836.19 1308.55 451.6
833.63 1305.63 449.8
831.06 1302.70 448.0
822.75 1293.25 442.0
809.31 1277.95 432.4
801.00 1268.50 426.4
787.56 1253.20 416.8
765.81 1228.45 401.2
730.31 1188.06 375.7

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 853.00 1329.00 464.80
AS DAILY LOW 831.50 1305.50 449.20

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 7, 2009

DAILY TRADING ADVISORY 07-April-2009

New concerns about the banking sector and Sun Microsystems dropping talks with IBM gave way to a profit taking session.

ECONOMIC DATA
2:00 PM Consumer Credit

YESTERDAY’S MARKET
After trading as high as 848.00 during the night, the E-mini SP started the session under pressure at 829.50 from where it bounced to 830.50 just to get sold to 827.50. After testing the Globex lows, the SP rebounded to 830.75 but failed to break higher and fell to a new low at 825.00. After posting a double bottom at that level and once the NQ traded back above last Friday’s low at 1293.25, the SP bounced to 831.50 just to push lower to a new low at 823.50, after trying to rebound and failing at 826.00, the index traded at a new low, 822.00. The SP bounced once more failing at 825.75 from where another new low at 820.25 was posted. Another feeble bounce gave way to a new marginal low at 818.75. With the selling drying, the SP bounced to 824.50, backed off to 820.00 and pushed up to 826.75. The index pulled back a couple of points, posted a double top and fell once more testing the 821.00, unable to break lower the SP bounced to 828.00, pulled back to 824.00 and rallied to 829.25 where the rally stopped. Another pullback to the 824.00 level held giving way to a rebound into the end of the session. For the day the SP closed lower by 10.00 points at 830.50, the Nasdaq lost 4.25 ending the session at 1312.00 and the Russell lost 10.10 points and settled at 446.30. The Dow lost 41 points ending the session at 7975.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “We came into Friday’s session looking for the markets to show some profit taking keeping a short term bullish bias, the session which was mixed for most of the day, gave way to some early selling and consolidated the last rally making the daily gains during the last hour of the session. Last Thursday’s strong opening gap and the failure to close near the highs, followed by the pre-market Friday’s spike to 844.50 on the SP and 8035 on the Dow forced a consolidating session as the first week of April indicates resistance in time, 30 days from the recent lows, but the consolidation and late upside move, kept intact the uptrend. Things may not move much during next week's holiday-shortened week; markets are closed on Friday in observance of Good Friday. Alcoa opens the first quarter earnings season when it reports results Tuesday after the close, but things do not really begin to pick up until late the next week. So expect a low volume week as markets will start to slow down. During this rally, Mondays have seen lower prices or negative closes, and if the markets start to trade lower after testing last Friday’s Globex 844.50 level on the SP, our first resistance area, I will try to stay short, but strong support may be seen at the 831.00 level, the first indication of profit taking will be the SP trading below 838.00, and if the Nasdaq is also showing some weakness, try to play the short side.”

We came into yesterday’s trading session looking for negative prices and we were right, the markets stood under pressure during all the session and despite the low volumes, typical of this week, markets fluctuated with an intraday bearish bias.
Yesterday’s consolidation has not negated the short term bullish pattern, but the pullback may be able to continue during today and maybe for the rest of the week. The fact that the unemployment numbers continues to be bad, the fear about the earnings season that starts today after the close and new concerns about the banking sector after an analyst called for more losses, could be the reasons for investors to take some profits after the markets moved up more than 6% during last week.
For our analysis and expectations for today, selling the bounces may continue to be the way to go, and probably, if the 821.00-820.00 fail to hold on the SP, we could see some new selling coming into the floor, but be careful if the SP trades above the 838.50 level as the rally could get resumed. The Dow has been rejected once more from the 8000 area, so nothing good happen for the bulls all the time that this index does not trade back above that area.

TODAY’S SESSION
There is resistance at 833.00-834.50 on the SP, 1318.00-1319.50 on the Nasdaq and 448.60-450.10 on the Russell, if the market opens above them look for some early short covering that could push the indexes to their next levels at 837.50-838.50 on the SP, 1323.00-1324.00 on the Nasdaq and 453.10-455.00 on the Russell. If the rally fails there look for the selling to resume testing once more the 826.00 on the SP. However if those areas get exceeded look for the rally to catch some momentum pressing the markets higher to their next areas at 842.00-843.00 on the SP, 1329.00-1332.00 on the Nasdaq and 458.60-459.20 on the Russell .

There is support at 826.50-825.00 on the SP, 1304.00-1302.00 on the Nasdaq and 444.00-442.80 on the Russell. Holding there could give way to a good rebound, but if the selling pressure continues look for the markets to test 822.50-821.00 on the SP, 1296.00-1294.00 on the Nasdaq and 439.60-438.70 on the Russell. Those may hold, at least the first time they get tested, but if they fail, don’t try to pick a bottom as the indexes could continue to press lower reaching at least 818.00-816.00 on the SP, 1288.00-1286.00 on the Nasdaq and 435.20-434.60 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 846.00-848.00 1338.00-1340.00 462.80-464.80
Resistance 3 842.00-843.00 1329.00-1332.00 458.60-459.20
Resistance 2 837.50-838.50 1323.00-1324.00 453.10-455.00
Resistance 1 833.00-834.50 1318.00-1319.50 448.60-450.10
PIVOT 832.50 1308.50 449.00
Support 1 826.50-825.00 1304.00-1302.00 444.00-442.80
Support 2 822.50-821.00 1296.00-1294.00 439.60-438.70
Support 3 818.00-816.00 1288.00-1286.00 435.20-434.60
Support 4 813.50-812.00 1280.00-1278.00 432.00-430.80

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
972.31 1506.00 561.0
924.58 1437.46 523.0
895.33 1395.46 499.7
877.25 1369.50 485.3
866.08 1353.46 476.4
848.00 1327.50 462.0
836.83 1311.46 453.1
833.38 1306.50 450.4
829.92 1301.54 447.6
818.75 1285.50 438.7
800.67 1259.54 424.3
789.50 1243.50 415.4
771.42 1217.54 401.0
742.17 1175.54 377.7
694.44 1107.00 339.7

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 839.25 1319.75 454.20
AS DAILY LOW 810.00 1277.75 430.90

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 8, 2009

DAILY TRADING ADVISORY 08-April-2009

New concerns about the banking sector and Sum Microsystems dropping talks with IBM gave way to a profit taking session.

ECONOMIC DATA
10:00 AM Wholesale Inventories
10:35 AM Crude Inventories

YESTERDAY’S MARKET
As global markets fell, U.S. stock indexes traded in negative territory during the Globex session, the E-mini SP started the day at 818.00 and backed off to 815.25. As the selling pressure continued, the SP traded at 813.25, just below the Globex lows. After trying to hold, the SP pushed down to 812.25 and bounced to 815.25 and pulled back. After holding the early lows And leaded by the strength on the Russell, the index tried hard to rally reaching 822.25 from where the index pulled back to 818.75, bounced back to 821.50 and pulled back to 818.25 where the index held strongly. Another bounce to the 821.00 area failed to break and the index pushed down to 816.25 where strong support was found. After another rally attempt that reached 820.50 the SP pulled back to 816.00

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “We came into Friday’s session looking for the markets to show some profit taking keeping a short term bullish bias, the session which was mixed for most of the day, gave way to some early selling and consolidated the last rally making the daily gains during the last hour of the session. Last Thursday’s strong opening gap and the failure to close near the highs, followed by the pre-market Friday’s spike to 844.50 on the SP and 8035 on the Dow forced a consolidating session as the first week of April indicates resistance in time, 30 days from the recent lows, but the consolidation and late upside move, kept intact the uptrend. Things may not move much during next week's holiday-shortened week; markets are closed on Friday in observance of Good Friday. Alcoa opens the first quarter earnings season when it reports results Tuesday after the close, but things do not really begin to pick up until late the next week. So expect a low volume week as markets will start to slow down. During this rally, Mondays have seen lower prices or negative closes, and if the markets start to trade lower after testing last Friday’s Globex 844.50 level on the SP, our first resistance area, I will try to stay short, but strong support may be seen at the 831.00 level, the first indication of profit taking will be the SP trading below 838.00, and if the Nasdaq is also showing some weakness, try to play the short side.”

We came into yesterday’s trading session looking for negative prices and we were right, the markets stood under pressure during all the session and despite the low volumes, typical of this week, markets fluctuated with an intraday bearish bias.
Yesterday’s consolidation has not negated the short term bullish pattern, but the pullback may be able to continue during today and maybe for the rest of the week. The fact that the unemployment numbers continues to be bad, the fear about the earnings season that starts today after the close and new concerns about the banking sector after an analyst called for more losses, could be the reasons for investors to take some profits after the markets moved up more than 6% during last week.

For our analysis and expectations for today, selling the bounces may continue to be the way to go, and probably, if the 821.00-820.00 fail to hold on the SP, we could see some new selling coming into the floor, but be careful if the SP trades above the 838.50 level as the rally could get resumed. The Dow has been rejected once more from the 8000 area, so nothing good happen for the bulls all the time that this index does not trade back above that area.

TODAY’S SESSION
There is resistance at 833.00-834.50 on the SP, 1318.00-1319.50 on the Nasdaq and 448.60-450.10 on the Russell, if the market opens above them look for some early short covering that could push the indexes to their next levels at 837.50-838.50 on the SP, 1323.00-1324.00 on the Nasdaq and 453.10-455.00 on the Russell. If the rally fails there look for the selling to resume testing once more the 826.00 on the SP. However if those areas get exceeded look for the rally to catch some momentum pressing the markets higher to their next areas at 842.00-843.00 on the SP, 1329.00-1332.00 on the Nasdaq and 458.60-459.20 on the Russell .

There is support at 826.50-825.00 on the SP, 1304.00-1302.00 on the Nasdaq and 444.00-442.80 on the Russell. Holding there could give way to a good rebound, but if the selling pressure continues look for the markets to test 822.50-821.00 on the SP, 1296.00-1294.00 on the Nasdaq and 439.60-438.70 on the Russell. Those may hold, at least the first time they get tested, but if they fail, don’t try to pick a bottom as the indexes could continue to press lower reaching at least 818.00-816.00 on the SP, 1288.00-1286.00 on the Nasdaq and 435.20-434.60 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 846.00-848.00 1338.00-1340.00 462.80-464.80
Resistance 3 842.00-843.00 1329.00-1332.00 458.60-459.20
Resistance 2 837.50-838.50 1323.00-1324.00 453.10-455.00
Resistance 1 833.00-834.50 1318.00-1319.50 448.60-450.10
PIVOT 832.50 1308.50 449.00
Support 1 826.50-825.00 1304.00-1302.00 444.00-442.80
Support 2 822.50-821.00 1296.00-1294.00 439.60-438.70
Support 3 818.00-816.00 1288.00-1286.00 435.20-434.60
Support 4 813.50-812.00 1280.00-1278.00 432.00-430.80

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
972.31 1506.00 561.0
924.58 1437.46 523.0
895.33 1395.46 499.7
877.25 1369.50 485.3
866.08 1353.46 476.4
848.00 1327.50 462.0
836.83 1311.46 453.1
833.38 1306.50 450.4
829.92 1301.54 447.6
818.75 1285.50 438.7
800.67 1259.54 424.3
789.50 1243.50 415.4
771.42 1217.54 401.0
742.17 1175.54 377.7
694.44 1107.00 339.7

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 839.25 1319.75 454.20
AS DAILY LOW 810.00 1277.75 430.90

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 13, 2009

DAILY TRADING ADVISORY 13-April-2009

Initial Claims down to 654K, Continuing Claims reaching a new record high at 5.84 million and Wells Fargo beating expectations by more than double gave way to a strong rally to close this shortened holiday week.

WEEKLY PIVOTS FOR WEEK ENDING 17-April-2009
R3 889.00
R2 878.50
R1 859.00
PP 820.00
S1 821.00
S2 802.00
S3 751.00

ECONOMIC DATA
None

WEEKLY RECAP
After struggling for most of the week, global and U.S. markets closed strong for the holiday. With markets posting a strong Sunday’s night session where the SP reached 848.00, Monday’s session started with weakness and selling pressure as concerns about job loses and the banking sector dominated the session. Markets posted a marginally negative session closing with moderate losses, the SP closed lower by 10.00 points at 830.50, the Nasdaq lost 4.25 ending the session at 1312.00 and the Russell lost 10.10 points and settled at 446.30. The Dow lost 41 points ending the session at 7975. Tuesday, traders got ready for the start of the earnings season, early in the morning rumors about GM getting ready for a possible bankruptcy gave way to a negative opening and stocks, also George Soros’s commentaries about the fragility of the recent rally influenced investors giving way to some profit taking after last week 6% gain in the markets. For the session, the SP lost 16.50 points and settled at 814.00, the Nasdaq ended lower by 31.25 points at 1281.00 and the Russell closed at 431.40, minus 14.90 for the day. The Dow lost 186 points and settled at 7789. Just after the close, Alcoa reported that it has swing to a loss, but a merge in the housing sector between Pulte and Centex and the lower Wholesale Inventories data gave way to a session where prices fluctuated. Markets managed to close on the green, the SP added 8.50 points finishing the day at 822.50, the Nasdaq ended at 1298.50 after gaining 17.75 points and the Russell closed higher by 6.80 points at 438.70. The Dow closed with a moderate gain at 7837. The last day of this holiday shortened week, markets exploded to the upside, Wells Fargo reported before the opening that its earnings for the first quarter are projected to almost double analyst’s expectations, this pushed the futures indexes strongly up, and once the Initial Claims data came out showing lower levels than the previous week and despite that the Continuing Claims continued to climb, markets held their gains and regardless of the low trading volumes traded in a bullish way pressing higher for most of the session. For the day the SP added 30.00 points and settled at 852.50, the Nasdaq closed at 1336.00 with a 37.50 points gain and the Russell gained 26.70 points finishing the week at 465.40. The Dow closed above the 8000 mark at 8083 with a 246 points gain.

THURSDAY’S MARKET
With the global markets trading solidly during the Globex session and the good news in the banking sector, the E-mini SP started the session sharply higher at 842.50, after a mild pullback to 839.00 the index pushed higher reaching 847.75. With low volumes and most of the traders already joining the holiday, the markets traded in a narrow range for the rest of the day. The SP tested the early lows at 840.00 but the mild pullbacks were buying opportunities, the index tested once more the early highs, pulled to 852.50, rallied to the 850.00 level and after trading for a while in a narrow range near the highs finally pushed higher into the close. For the day the SP added 30.00 points and settled at 852.50, the Nasdaq closed at 1336.00 with a 37.50 points gain and the Russell gained 26.70 points finishing the week at 465.40. The Dow closed above the 8000 mark at 8083 with a 246 points gain.

.

MARKET COMMENTARY AND OUTLOOK
After trading at 848.00 during the previous Sunday’s night and struggling for the first three days of the week to push down, the markets opened with a strong upside gap for Thursday’s session. With the upside gap calling for some sort of exhaustion but with the markets holding above critical support areas and despite that the weekly lows were posted during the night, the recent bullish pattern is still intact.
We were expecting the recent sell off to reach lower prices testing at least the 780.00 area on the SP and 7500 on the Dow, however the pullback was less than expected and respected the 78.6% Fibonacci retracement between the recent highs and the March lows. This may be bullish and pointing for higher prices, but for this scenario to be true canceling the bearish implication that those strong wide gaps normally indicate, the next rally will have to last more than four to five trading sessions.
That does not mean that the recent Bull Run won’t see a sizeable pullback, but it seems that the markets could continue to move up IF they have not completed yet a third test of the recent highs with this new high, from where a failure could give way to a 80 point pullback on the SP and at least 500 points on the Dow.
So the next few coming sessions will define if last Thursday’s highs were the last high of this trading pattern or the SP will be able to reach the 860.00-880.00 area during the week and then, maybe show some profit taking in the apparently process of building a base for a further upside move during the second part of the year.
I was thinking that last Thursday, the index could have been showed a low for the recent pullback, but the strong opening have negated, for now, a lower low near the 780.00 area and then another run to the recent highs or a marginal new high, but with the strong opening, the markets could make a struggling upside move that will get a confirmation of more upside potential with a second consecutive close on the Dow above the 8000 area and the SP holding above 850.00.
Lately, Monday’s have the tendency to show some weakness or profit taking, so if the market opens in negative territory look for the early weakness to get reversed after the first 40 minutes of the session, and look for the first test of Friday’s settlement to get sold despite that the indexes may be able to hold high levels, so trading both sides of the market could result a good strategy, at least until the 831.00 are3a on the SP gets broken to the downside.

TODAY’S SESSION
There is initial resistance at 855.50-858.00 on the SP, 1342.00-1343.00 on the Nasdaq and 468.70-470.90 on the Russell, an early bounce should found some resistance up there, But if those areas get exceeded, look for a test of 861.50-863.00 on the SP, 1348.50-1351.00 on the Nasdaq and 473.60-474.00 on the Russell. Trading above them will invite more bulls as the indexes may be able to press higher reaching 869.50-870.50 on the SP, 1360.00-1361.00 on the Nasdaq and 476.40-477.20 on the Russell.

Initial support is at 849.50-848.00 on the SP, 1330.00-1328.00 on the Nasdaq and 462.70-461.20 on the Russell. Trading below them will push the indexes to a test of the next support areas at 845.00-844.00 on the SP, 1323.00-1321.50 on the Nasdaq and 459-10-458.60 on the Russell. If those areas can not hold look for the profit taking to gain some momentum reaching 838.50-837.00 on the SP, 1311.00-1308.50 on the Nasdaq and 452.60-450.50 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 875.00-877.00 1368.50-1370.00 481.80-482.80
Resistance 3 869.50-870.50 1360.00-1361.00 476.40-477.20
Resistance 2 861.50-863.00 1348.50-1351.00 473.60-474.00
Resistance 1 855.50-858.00 1342.00-1343.00 468.70-470.90
PIVOT 843.00 1325.00 457.60
Support 1 849.50-848.00 1330.00-1328.00 462.70-461.20
Support 2 845.00-844.00 1323.00-1321.50 459-10-458.60
Support 3 838.50-837.00 1311.00-1308.50 452.60-450.50
Support 4 833.00-831.00 1296.00-1294.00 448.00-446.60

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
991.56 1528.25 595.3
938.93 1456.44 546.6
906.68 1412.44 516.8
886.75 1385.25 498.4
874.43 1368.44 487.0
854.50 1341.25 468.6
842.18 1324.44 457.2
838.38 1319.25 453.7
834.57 1314.06 450.2
822.25 1297.25 438.8
802.32 1270.06 420.4
790.00 1253.25 409.0
770.07 1226.06 390.6
737.82 1182.06 360.8
685.19 1110.25 312.2

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 869.00 1360.50 481.90
AS DAILY LOW 837.50 1316.50 452.10

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 14, 2009

DAILY TRADING ADVISORY 14-April-2009

Markets retreat in front of the earnings season but managed a late recovery as financials keep leading the rally, GM shares tumble as fears of bankruptcy grows, Goldman reports higher earnings and revenues announcing a plan to sell $5 billion in stock in order to pay back TARP funds.

ECONOMIC DATA
8:30 AM PPI
8:30 AM Core PPI
8:30 AM Retail Sales
8:30 AM Retail Sales exc. Auto
10:00 AM Business Inventories

YESTERDAY’S MARKET
With the European markets still closed for the Easter holiday’s and after been trading slightly lower during the night, the E-mini SP started the session at 845.00 and after hording our support areas bounced to 846.25. With very low trading volumes after the holiday, the SP pushed down to 844.00 from where it bounced t0 846.00.Unable to break above the early high, the SP get sold to a new low at 842.50, after a feeble bounce and a marginal new low at 841.50. After holding at that level, the SP rallied all the way up to 850.75 and pulled back to 846.50. After a rebound to 849.00, the index pulled back all the way to 843.50. With the markets trapped in a sideways trading pattern the SP bounced to 847.75, pulled back a few points, bounced to 850.50 and pushed down to 847.50.Unable to resume the downtrend, the index rallied to 853.00, pulled back to 851.00 and pushed higher to a new intraday high at 853.50 and then 854.75, just at last Thursday’s highs. The SP pulled back to 850.50 and traded in a narrow range pointing to the daily highs. A quick pullback to 849.50 was strongly bided and the SP popped up to a new high at 855.50 and then to 858.75. With new buying pressure the SP continued higher reaching 861.25 before pulling back into the close. For the day, the SP added 1.50 points closing at 854.00, the Nasdaq lost 4.25 points and settled at 1331.75 and the Russell lost 1.70 points closing the session at 463.70. The Dow managed to recover most of its losses closing at 8057 points, minus 25.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “it seems that the markets could continue to move up IF they have not completed yet a third test of the recent highs with this new high, from where a failure could give way to a 80 point pullback on the SP and at least 500 points on the Dow. So the next few coming sessions will define if last Thursday’s highs were the last high of this trading pattern or the SP will be able to reach the 860.00-880.00 area during the week and then, maybe show some profit taking in the apparently process of building a base for a further upside move during the second part of the year. I was thinking that last Thursday, the index could have been showed a low for the recent pullback, but the strong opening have negated, for now, a lower low near the 780.00 area and then another run to the recent highs or a marginal new high, but with the strong opening, the markets could make a struggling upside move that will get a confirmation of more upside potential with a second consecutive close on the Dow above the 8000 area and the SP holding above 850.00. Lately, Monday’s have the tendency to show some weakness or profit taking, so if the market opens in negative territory look for the early weakness to get reversed after the first 40 minutes of the session, and look for the first test of Friday’s settlement to get sold despite that the indexes may be able to hold high levels, so trading both sides of the market could result a good strategy, at least until the 831.00 area on the SP gets broken to the downside.”

We came into yesterday’s session looking for a consolidation of the last rally and a session with some profit taking while keeping the recent rally intact.
With some important economic data to get released today before the opening and with some important earnings reports as Intel, Goldman Sachs and J&J, volatility will probably increase during today’s trading session.
Last week first three trading session when the markets struggle to break down below the 800.00 area on the SP and 7500 on the Dow, and Thursday’s huge rally and wide opening gap that managed to make new highs closing at the highs of the session, could have exhausted temporarily the recent rally but the strength showed on that session and yesterday’s consolidation near the highs in a narrow range trading session indicates that the recent rally may be able to move forward, despite that in the mid term we are still waiting for the SP to push down to a test or a higher low near the March lows.
So even if we are waiting for a downside move, a sideways pattern which consolidates the recent rally and maybe a new high near the 870.00 area on the SP could be seen before the markets resume their downtrend for the test of the March lows.
For today’s trading session and while investors keep ignoring the bad economic data and looking for signs of life in the earning reports, we’ll keep a bullish bias as long as the SP stays above the 831.00 level, but will be careful if the SP keep trading below 850.00 or we will be looking for a reversal at any of our resistance areas..

TODAY’S SESSION

There is resistance at 856.00-857.50 on the SP, 1335.00-1336.00 on the Nasdaq and 464.90-466.20 on the Russell, if the market opens above them look for some early short covering that could push the indexes to yesterday’s highs at 860.00-861.00 on the SP, 1340.00-1342.00 on the Nasdaq and 468.90-469.90 on the Russell. If the rally fails there posting a double top, look for some profit taking, in particular after the first hour of the trading session. However if those areas get exceeded look for the rally to catch additional momentum pressing the markets higher to their next areas at 863.75-864.50 on the SP, 1346.00-1348.00 on the Nasdaq and 471.80-473.50 on the Russell .

There is support at 852.00-850.00 on the SP, 1329.00-1327.00 on the Nasdaq and 461.20-460.00 on the Russell. Holding there could give way to a test of yesterday’s highs, but if the selling gets resumed look for the markets to test 847.50-845.50 on the SP, 1322.00-1320.00 on the Nasdaq and 456.40-455.60 on the Russell. Those may hold in order to maintain the short term uptrend intact, but if they fail, the indexes could continue to press lower reaching at least yesterday’s lows at 843.00-841.00 on the SP, 1314.00-1312.00 on the Nasdaq and 453.00-451.80 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 869.00-871.00 1354.00-1356.00 476.10-477.00
Resistance 3 863.75-864.50 1346.00-1348.00 471.80-473.50
Resistance 2 860.00-861.00 1340.00-1342.00 468.90-469.90
Resistance 1 856.00-857.50 1335.00-1336.00 464.90-466.20
PIVOT 852.50 1332.00 462.60
Support 1 852.00-850.00 1329.00-1327.00 461.20-460.00
Support 2 847.50-845.50 1322.00-1320.00 456.40-455.60
Support 3 843.00-841.00 1314.00-1312.00 453.00-451.80
Support 4 835.00-833.00 1304.00-1302.00 449.00-447.80

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
945.19 1437.00 526.2
912.96 1401.10 504.1
893.21 1379.10 490.6
881.00 1365.50 482.3
873.46 1357.10 477.1
861.25 1343.50 468.8
853.71 1335.10 463.6
851.38 1332.50 462.1
849.04 1329.90 460.5
841.50 1321.50 455.3
829.29 1307.90 447.0
821.75 1299.50 441.8
809.54 1285.90 433.5
789.79 1263.90 420.0
757.56 1228.00 397.9

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 867.50 1343.00 466.30
AS DAILY LOW 847.75 1321.00 452.80

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 15, 2009

DAILY TRADING ADVISORY 15-April-2009

Goldman reports higher earnings and revenues announcing a plan to sell $5 billion in stock in order to pay back TARP funds. J&J profits beating expectations, PPI minus 1.2%, Core PPI unchanged and Retail Sales down 1.1% on the highest unemployment rate in 25 years gave way to a volatile session where early gains got reversed to close with moderate losses. AFTER HOURS: Intel post lower profits, shares fall.

ECONOMIC DATA
8:30 AM CPI
8:30 AM Core CPI
8:30 AM NY Empire Manufacturing Index
9:15 AM Capacity Utilization
9:15 AM Industrial Production
10:35 AM Crude Inventories
2:00 PM Fed’s Beige Book

YESTERDAY’S MARKET
After trading in a wide range during the Globex session, 842.75 as a low and 857.50 as the nightly high, the E-mini SP started the session at 845.75 from where it bounced to 847.50 just to fail to push higher. With the markets showing signs of profit taking, the SP fell to 841.75 and bounced to 844.50 from where if pushed down to a new intraday low at 840.50. After holding near our support levels, the index bounced to 847.25, pulled back a couple of points and tested the early 847.50 high. Another pullback to 844.00 gave way to a strong rebound that reached 852.00 and then 853.50. Once the rally lost its momentum, the SP pulled back to 848.00 and after testing the 849.00 level pushed lower to 846.00 where the pullback held. Another bounce to 849.00 failed to continue higher and the index fell to test the early lows reaching 842.50. Another feeble bounce that reached 846.00 was met by sellers pushing the SP down to a new low at 836.25. After testing that level a few times the index slowly bounced to 842.25. After backing off to 838.50, the SP bounced to 844.00, pulled back to the 840.00 area, pushed higher to 845.00. After failing to break above our intraday 846.00 resistance level, the SP sold off to 838.50. After another failed rebound attempt that reached 843, the markets fell but the SP held the daily lows. For the day, the SP closed lower by 13.50 points at 840.50, the Nasdaq lost 7.75 points and settled at 1324.25 and the Russell gave back 11.20 points ending the session at 452.70. The Dow closed at 7920 with a 137 point loss.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “With some important economic data to get released today before the opening and with some important earnings reports as Intel, Goldman Sachs and J&J, volatility will probably increase during today’s trading session. Last week first three trading session when the markets struggle to break down below the 800.00 area on the SP and 7500 on the Dow, and Thursday’s huge rally and wide opening gap that managed to make new highs closing at the highs of the session, could have exhausted temporarily the recent rally but the strength showed on that session and yesterday’s consolidation near the highs in a narrow range trading session indicates that the recent rally may be able to move forward, despite that in the mid term we are still waiting for the SP to push down to a test or a higher low near the March lows. So even if we are waiting for a downside move, a sideways pattern which consolidates the recent rally and maybe a new high near the 870.00 area on the SP could be seen before the markets resume their downtrend for the test of the March lows. For today’s trading session and while investors keep ignoring the bad economic data and looking for signs of life in the earning reports, we’ll keep a bullish bias as long as the SP stays above the 831.00 level, but will be careful if the SP keep trading below 850.00 or we will be looking for a reversal at any of our resistance areas.”

The SP showed a lower high and lower low which could be considered a normal pattern in this five week strong upside move, this kind of consolidation once the markets reached strong resistance areas, 854.00 on the SP, 8000 on the Dow and 470.00 on the Russell indicates that the current rally may be running out of gas. That does not mean that another marginal high at the 870.00-880.00 areas on the SP and 8200 on the Dow can not be seen, but if we consider the extension of the current move and the wide gap left from last week, a pullback could easily push down the index to 825.00 to fill the open gap maintaining the current uptrend intact.
The leading indexes in this countertrend rally, some analysts are calling it already the new bull campaign, have been the Russell and the Nasdaq, so those indexes will be those who will lead the next downside move, and for now, any pullback has give way to new highs on both of them. So despite that the rally is already struggling to push higher and maintain an intraday strong upside trend, I still think that new highs will be seen before the move comes to an end.
This struggling pattern could continue for more than the next two weeks, but finally I will expect that the markets will push lower to test the March lows or post a higher low.
Once more the session is full of economic reports, the 831.00 area continues to be the key for the markets to continue to move up, and while the SP could push lower to close the open gap, only trading below that level should invite sellers back to the markets, the same is true at 1300.00 on the NQ and 430.00 on the Russell. So if those areas hold, buying the pullbacks is the way to go.

This is an option expiration week; normally markets keep a bullish bias and I do not discount a new high by the end of the week, so position traders may try to maintain a bullish bias regardless of the pullbacks that this struggling move could show.

TODAY’S SESSION
Initial resistance is at 843.00-844.50 on the SP, 1328.00-1330.00 on the Nasdaq and 454.10-455.50 on the Russell, nothing good happens all the time that the markets are trading below those levels, but if the markets push higher look for the indexes to test 848.00-840.00 on the SP, 1336.00-1338.00 on the Nasdaq and 457.80-459.20 on the Russell. Trading above them could indicate that the recent oullback has ended and the indexes may press higher reaching 853.00-854.50 on the SP, 1344.00-1346.00 on the Nasdaq and 461.90-462.50 on the Russell.

There is support just above yesterday’s lows at 837.50-836.50 on the SP, 1320.00-1318.00 on the Nasdaq and 450.20-449.10 on the Russell. If those can not hold, KEY support levels are at 833.00-831.00 on the SP, 1312.00-1310.00 on the Nasdaq and 446.30-444.60 on the Russell. If those can not hold, the SP will be on its way to close the open gap at 825.00, last support above that levels are at 828.00-826.50 on the SP, 1302.00-1300 on the Nasdaq and 44If those can not hold, the SP will be on its way to close the open gap at 825.00, last support above that levels are at 828.00-826.50 on the SP, 1302.00-1300 on the Nasdaq and 441.30-440.50 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 859.50-860.50 1355.00-1356.00 467.40-468.40
Resistance 3 853.00-854.50 1344.00-1346.00 461.90-462.50
Resistance 2 848.00-849.00 1336.00-1338.00 457.80-459.20
Resistance 1 843.00-844.50 1328.00-1330.00 454.10-455.50
PIVOT 844.75 1325.00 456.80
Support 1 837.50-836.50 1320.00-1318.00 450.20-449.10
Support 2 833.00-831.00 1312.00-1310.00 446.30-444.60
Support 3 828.00-826.50 1302.00-1300.00 441.30-440.50
Support 4 823.00-822.00 1294.00-1293.00 436.90.435.70

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
945.19 1437.00 526.2
912.96 1401.10 504.1
893.21 1379.10 490.6
881.00 1365.50 482.3
873.46 1357.10 477.1
861.25 1343.50 468.8
853.71 1335.10 463.6
851.38 1332.50 462.1
849.04 1329.90 460.5
841.50 1321.50 455.3
829.29 1307.90 447.0
821.75 1299.50 441.8
809.54 1285.90 433.5
789.79 1263.90 420.0
757.56 1228.00 397.9

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 867.50 1343.00 466.30
AS DAILY LOW 847.75 1321.00 452.80

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 16, 2009

DAILY TRADING ADVISORY 16-April-2009
Intel post lower profits, shares fall. CPI better than expected and Industrial Production down 1.5%, Beige book still indicating general contraction in the economy gave way to a session where futures markets fluctuated closing mixed for the day.

ECONOMIC DATA
8:30 AM Initial Claims
8:30 AM Building Permits
8:30 AM Housing Starts
10:00 AM Philadelphia Fed

YESTERDAY’S MARKET
With the markets trading lower during the night, the E-mini SP started the session at 833.50 and pushed down to 831.50. After holding our support area, the index bounced to 837.75. A double top up there gave way to a pullback to 835.50 from where the index bounced to 838.75 and then to 841.75. The SP pulled back to 838.50, after holding for a few minutes at that level, the SP finally broke lower reaching 833.50. With the Nasdaq breaking only marginally the critical 1300.00 level but turning higher, the SP bounced back 839.25, pulled back to 837.00 and pushed up once more reaching 841.50, just below the early highs, after a feeble pullback the SP pushed higher reaching 844.50, just at our resistance areas. With very low volumes the rally finally failed, the SP pulled back to 839.50, bounced to 842.00, pushed down to 837.50 and rallied to 842.25 where a double top gave way to a sell off down to 834.25. After posting a double bottom at that level the markets recovered with the E-mini SP reaching 842.50, once that level get exceeded the index reached 845.00, once that level failed to hold, the SP pushed to new highs at 850.50 before pulling back into the close. For the day, the SP added 9.00 points closing at 849.25, the Nasdaq lost 7.00 points and settled at 1317.00 and the Russell closed higher by 4.60 points at 458.00.the Dow added more than 100 points closing at 8029.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “The SP showed a lower high and lower low which could be considered a normal pattern in this five week strong upside move, this kind of consolidation once the markets reached strong resistance areas, 854.00 on the SP, 8000 on the Dow and 470.00 on the Russell indicates that the current rally may be running out of gas. That does not mean that another marginal high at the 870.00-880.00 areas on the SP and 8200 on the Dow can not be seen, but if we consider the extension of the current move and the wide gap left from last week, a pullback could easily push down the index to 825.00 to fill the open gap maintaining the current uptrend intact. Once more the session is full of economic reports, the 831.00 area continues to be the key for the markets to continue to move up, and while the SP could push lower to close the open gap, only trading below that level should invite sellers back to the markets, the same is true at 1300.00 on the NQ and 430.00 on the Russell. So if those areas hold, buying the pullbacks is the way to go. This is an option expiration week; normally markets keep a bullish bias and I do not discount a new high by the end of the week, so position traders may try to maintain a bullish bias regardless of the pullbacks that this struggling move could show.”

Yesterday’s negative opening which triggered the test of the 831.00 area on the SP and 1300.00 on the NQ followed by the strong rebound on the SP and the later sell off without damaging the recent uptrends, show that this pullback, that could last also during today’s trading session, has been struggling to push the indexes lower and that may give way to another strong push to the upside, maybe late during today’s trading session or tomorrow, Friday, when the April options expire.
The only negative indicator that may give way to a failure of another push to the highs, and maybe a new high, would be a wide down opening gap where the indexes fail to trade settlement, and at this moment, that does not seem to be the most probable scenario. So position traders may still wait for another rally attempt, and then consider changing their position to a short one as we are expecting lower prices during the next few weeks. Obviously, when the rally shows some exhausting pattern, and that has not happen yet.
Yesterday’s normal trading range and the positive close above 1300.00 on the NQ and late highs in the other indexes indicates the strength of the recent rally, or at least a consolidating pattern for the coming sessions, and all the time that the 831.00 area on the SP and yesterday’s lows at 1293.50 on the NQ bulls remain in control.
So, for today’s trading session, if the markets open higher, look for the first decent pullback to get long as we can have an uptrend session.

TODAY’S SESSION
There is initial resistance at 851.00-852.50 on the SP, 1321.00-1323.00 on the Nasdaq and 459.70-460.50 on the Russell, trading above them could give way to a test of the next areas at 854.50-856.50 on the SP, 1327.00-1328.00 on the Nasdaq and 462.80-464.00 on the Russell. If the markets will continue to consolidate below the recent highs, those may hold giving way to a good pullback, however if the indexes trade above them look for the uptrend to resume pushing the indexes up to the recent highs at 860.00-861.50 on the SP, 1336.00-1337.00 on the Nasdaq and 466.60-468.10 on the Russell.

Initial support is at 846.50-845.50 on the SP, 1312.00-1310.00 on the Nasdaq and 455.40-454.20 on the Russell. If those can not hold look for another test of 841.50-840.00 on the SP, 1306.00-1304.00 on the Nasdaq and 452.60-450.80 on the Russell. If buyers do not step there look for the downside to gain some momentum pushing the markets down to 837.50-836.00 on the SP, 1295.00-1293.00 on the Nasdaq and 446.20-445.10 on the Russell. If those can not hold and once the SP fails to hold above 831.00, the 825.00 area on the SP may be reached before buyers step back in. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 868.50-871.00 1349.00-1351.00 473.20-474.30
Resistance 3 860.00-861.50 1336.00-1337.00 466.60-468.10
Resistance 2 854.50-856.50 1327.00-1328.00 462.80-464.00
Resistance 1 851.00-852.50 1321.00-1323.00 459.70-460.50
PIVOT 843.75 1310.00 455.20
Support 1 846.50-845.50 1312.00-1310.00 455.40-454.20
Support 2 841.50-840.00 1306.00-1304.00 452.60-450.80
Support 3 837.50-836.00 1295.00-1293.00 446.20-445.10
Support 4 831.00-830.00 1288.00-1286.00 442.30-441.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
945.19 1437.00 526.2
912.96 1401.10 504.1
893.21 1379.10 490.6
881.00 1365.50 482.3
873.46 1357.10 477.1
861.25 1343.50 468.8
853.71 1335.10 463.6
851.38 1332.50 462.1
849.04 1329.90 460.5
841.50 1321.50 455.3
829.29 1307.90 447.0
821.75 1299.50 441.8
809.54 1285.90 433.5
789.79 1263.90 420.0
757.56 1228.00 397.9

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 867.50 1343.00 466.30
AS DAILY LOW 847.75 1321.00 452.80

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 20, 2009

DAILY TRADING ADVISORY 20-April-2009

Citigroup and GE better than expected results and Consumer sentiment above expectations indicating that the recession may be easing, markets close at sixth week highs.

WEEKLY PIVOTS FOR WEEK ENDING 24-April-2009
R3 922.50
R2 897.25
R1 882.00
PP 856.75
S1 844.00
S2 816.00
S3 801.00

ECONOMIC DATA
10:00 AM Leading Indicators

WEEKLY RECAP
Another good week for the equity markets, with the indexes running slow for Monday’s trading session and after early losses in front of the earnings season, markets managed a late recovery as financials keep leading the rally, GM shares tumbled as fears of bankruptcy growth. After hours Goldman reported higher earnings and revenues announcing a plan to sell $5 billion in stock in order to pay back TARP funds, but for the session, the SP added 1.50 points closing at 854.00, the Nasdaq lost 4.25 points and settled at 1331.75 and the Russell lost 1.70 points closing the session at 463.70. The Dow managed to recover most of its losses closing at 8057 points, minus 25. Tuesday’s action started the night before, after a volatile Globex session, markets fluctuated for most of the day and closed with losses. J&J reported lower earnings, PPI came out at minus 1.2%, Core PPI unchanged and Retail Sales down 1.1% on the highest unemployment rate in 25 years showing that the economic recuperation could take more time, for the day, the SP closed lower by 13.75 points at 840.25, the Nasdaq lost 7.75 points and settled at 1324.25 and the Russell gave back 11.20 points ending the session at 452.70. The Dow closed at 7920 with a 137 point loss. With Intel reporting lower than expected earnings and without coming out with an outlook for the year, the markets started Wednesday’s session under pressure. The consumer price Index reported a better than expected number but Industrial Production was down 1.5% and the Beige book still indicated general contraction in the economy giving way to a session where futures markets fluctuate closing mixed for the day. The SP added 9.00 points closing at 849.25, the Nasdaq lost 7.00 points and settled at 1317.00 and the Russell closed higher by 4.60 points at 458.00.the Dow added more than 100 points closing at 8029. Things changed for Thursday’s session, JP Morgan beat expectations, while General Growth filed for bankruptcy and despite that the Housing starts report was down 10.8% and Building Permits hit a new record low while Initial jobless claims ere down 53K to 610K and Continuing Claims at a new record high above 6 million, markets rallied closing at their best levels in recent times, the SP closed at 861.50 with a gain of 13.00 points, the Nasdaq added VVV points ending the session at 1352.00 and the Russell settled at 470.90 with a 12.70 point gain. The Dow added 95 points closing at 8125. After a weak opening for Friday’s trading session, markets held support areas and continued to reach higher levels, April options expiration was a non-events, and the earning season continued with Google, GE and Citibank reporting better than expected earning, markets pushed higher closing wioth moderate gains for the day and gains for the week. For the day the SP added 5.25 points closing the session at 866.75, the Nasdaq closed unchanged for the day at 1352.00 and the Russell closed at 476.40 with a gain of 5.50 points. The Dow ended the week at 8131 after closing the session with a 5 point gain.

FRIDAY’S MARKET
After a positive opening with the E-mini SP starting the session at 863.75, just below the Globex high, the index pushed down to 858.75 from where it bounced to 864.25. A double top at that level gave way to some profit taking that pushed the SP down to 856.75. Unable to break lower and with extremely low volumes, the index traded on a narrow range that finally broke higher moving up and testing the early highs. After failing to break higher, the SP backed of from 864.25 to 861.00. Another bounce to the 865.00 area, another feeble pullback resulted in a test of the Globex highs at 865.50, after holding at high levels and with the Russell trading strong the SP finally pushed to a new high at 866.50 and continued to inch higher reaching 870.00. The SP pulled back to 867.00 and continued to push higher joined by all the other markets reaching 871.75. After reaching the highs, a late correction took place but the markets managed to close with gains. For the day the SP added 5.25 points closing the session at 866.75, the Nasdaq closed unchanged for the day at 1352.00 and the Russell closed at 476.40 with a gain of 5.50 points. The Dow ended the week at 8131 after closing the session with a 5 point gain.

.

MARKET COMMENTARY AND OUTLOOK
Last Friday I wrote: “The recent rally that yesterday's managed to test and exceed the recent highs at 861.50 on the SP may be coming to and end, however while we area looking for some evidence that a top has been posted, we still can not call a high for the move. Now obviously we have a problem, does the rally got exhausted at yesterday's late new highs or we have another pending leg that may reach the 875.00-880.00 toping and turning down? We certainly don't now, but this rally has extended more than 200 points, the same extension that previous moves have reached, so if we don't have a top, we are very close. This call for long traders to start to take partial profits as the higher the rally extends, greater the chances of a violent U turn. For short traders, yesterday's high should act as a new stop if you are already positioning yourself for a new downtrend. But consider that marginal new highs or a wide spike could be seen before this move comes to and end, I personally will like to see a wide opening gap that gets reversed leaving late longs trapped at or near the highs, which surely should fuel a fast downside move.”

So, another day and another high for the equity markets. As the markets continue to reach higher prices signs that this rally may be coming to and end are growing. With the markets struggling to push down the previous week and with lack of selling we called for higher prices to come, but the current situation is already showing bearish divergences between the different indexes. The Dow and Nasdaq, struggling to move up and the SP and Russell posting new highs for the end of the week.
If this rally is ready to show a decent pullback at least to the 800.00 area, it has to start during this coming week, that does not mean that we can not see another emotional spike, but if this huge bear market rally that already exceeded the previous one countertrend move on its extension will get reversed time to do it may be near.
We have been looking for evidence that the markets has topped in order to suggest to our position traders to reverse their position, and at this point we can only suggest to them to take partial profits; we can suggest for option buyers to look at the December SP 500 put to get bought, not because we think that the market will get there, but volatility has come down and a good multi day sell off that pushes the SP down to at least the 800.00 level will probably turn into a 100% profit for those who buy this option, obviously, the risk is the paid premium, but we can not call to get short aggressively with the futures contract as new highs near the 900.00 area on the SP could surprise everybody, one thing for sure, I wouldn’t be a buyer at these levels unless I have a tight stop, and I am taking for position traders.
For day traders, any double top, or any signs of weakness near the resistance areas could turn into a profitable trade at the moment that investors return to reality, the reality of the still weak economy or the reality that the “acts of financial and accounting” wisdom that banking sector have used to fool the “people” with HUGE and RECORD gains will start to show its real face.
But, the chart is our only guide, and we still can see higher prices before markets turn down. Monday’s have started with weakness, and selling the rallies until last Friday’s highs get exceeded may be the way that I will trade the markets.

TODAY’S SESSION
There is initial resistance at 868.50-870.00 on the SP, 1356.00-1358.00 on the Nasdaq and 479.10-480.40on the Russell, an early bounce that fail to break above them posting a double top with last Friday’s highs, may offer a good shorting trade. But if those areas get exceeded, look for a test of 872.50-874.50 on the SP, 1363.50-1365.00 on the Nasdaq and 483.00-484.20 on the Russell. Once more, I may try to short at those areas with very tight stops but trading above them will invite more buyers as the indexes may be able to press higher reaching 877.00-878.50 on the SP, 1373.00-1374.00 on the Nasdaq and 485.80-486.30 on the Russell.

Initial support is at 863.00-861.50 on the SP, 1350.00-1348.00 on the Nasdaq and 473.70-472.40 on the Russell. Trading below could be the first signs of weakness and will push the indexes to a test of the next support areas at 857.00-856.50 on the SP, 1344.00-1342.00 on the Nasdaq and 468.50-467.20 on the Russell. Those areas are KEY for the uptrend to remain intact and if they can not hold look for the profit taking to gain some momentum reaching 849.50-848.00 on the SP, 1338.00-1336.00 on the Nasdaq and 462.00-460.50on the Russell. Late longs may start to get real fear if the markets break below them GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P

NASDAQ RUSSELL
Resistance 4 883.00-885.00 1382.00-1384.00 489.50-490.10
Resistance 3 877.00-878.50 1373.00-1374.00 485.80-486.30
Resistance 2 872.50-874.50 1363.50-1365.00 483.00-484.20
Resistance 1 868.50-870.00 1356.00-1358.00 479.10-480.40
PIVOT 864.00 1349.50 475.00
Support 1 863.00-861.50 1350.00-1348.00 473.70-472.40
Support 2 857.00-856.50 1344.00-1342.00 468.50-467.20
Support 3 849.50-848.00 1338.00-1336.00 462.00-460.50
Support 4 845.00-844.00 1332.00-1330.00 457.60-456.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
949.56 1462.75 543.2
919.78 1423.58 519.6
901.53 1399.58 505.1
890.25 1384.75 496.1
883.28 1375.58 490.6
872.00 1360.75 481.6
865.03 1351.58 476.1
862.88 1348.75 474.4
860.72 1345.92 472.6
853.75 1336.75 467.1
842.47 1321.92 458.1
835.50 1312.75 452.6
824.22 1297.92 443.6
805.97 1273.92 429.1
776.19 1234.75 405.5

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 878.50 1368.00 486.30
AS DAILY LOW 860.25 1344.00 471.80

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 21, 2009

DAILY TRADING ADVISORY 21-April-2009

Bank of America better than expected earnings and Oracle buying Sun Microsystems; Leading indicators down 0.3% pointing for weakness during the summer and new concerns about the banking sector gave way to a strong sell off. IBM profits slips but beat the street.

ECONOMIC DATA
None

YESTERDAY’S MARKET
After trading sharply lower during the Globex session the E-mini SP started the day at 850.50 and bounced to 852.00 from where the sell of continued reaching 843.50. A feeble bounce to 845.00 gave way to new lows, the SP reached 839.25. Without any buying coming into the markets, the SP pushed down to 837.00. After bottoming at 836.00 the SP bounced 839.50, after three attempts to break higher the index fell to new lows at 835.00. The markets traded for a long period near the lows, posted a new marginal low at 834.75, bounced to 838.00 and moved down to 833.50 and 832.75. The markets stood near the lows for most of the afternoon with the SP testing 832.25 from where it bounced to 834.75 just to back off to a new marginal low at 832.00.with the markets sitting at the lows, the SP posted a new low at 831.50. The SP managed to bounce to 834.00 but the lack of buying activity gave way to a new low at 830.50. the SP finally bounced back to 834.50, pulled back to 830.50, tried hard a second time at the 834.25 area but failed and pushed lower to a new daily low at 828.75 and bounced a but into the close. For the day, the SP lost 33.75 points and settled at 833.00, the NQ lost 38.50 points finishing the session at 1313.50 and the Russell gave back 21.60 finishing at 454.80.the Dow closed lower by 289 points ending the day at 7841.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “If this rally is ready to show a decent pullback at least to the 800.00 area, it has to start during this coming week, that does not mean that we can not see another emotional spike, but if this huge bear market rally that already exceeded the previous one countertrend move on its extension will get reversed time to do it may be near. We have been looking for evidence that the markets has topped in order to suggest to our position traders to reverse their position, and at this point we can only suggest to them to take partial profits; we can suggest for option buyers to look at the December SP 500 put to get bought, not because we think that the market will get there, but volatility has come down and a good multi day sell off that pushes the SP down to at least the 800.00 level will probably turn into a 100% profit for those who buy this option, obviously, the risk is the paid premium, but we can not call to get short aggressively with the futures contract as new highs near the 900.00 area on the SP could surprise everybody, one thing for sure, I wouldn’t be a buyer at these levels unless I have a tight stop, and I am taking for position traders. For day traders, any double top, or any signs of weakness near the resistance areas could turn into a profitable trade at the moment that investors return to reality, the reality of the still weak economy or the reality that the “acts of financial and accounting” wisdom that banking sector have used to fool the “people” with HUGE and RECORD gains will start to show its real face. But, the chart is our only guide, and we still can see higher prices before markets turn down. Monday’s have started with weakness and selling the rallies until last Friday’s highs get exceeded may be the way that I will trade the markets.”

Finally the first signs that the rally may have coming to and end have appeared on the markets. Yesterday’s lower opening and continuing selling pressure may have leaved many late longs trapped near the Friday’s highs, but until now, every sell off attempt, pullback in this big countertrend rally from the march lows has been met with new buying, fear not to be long and miss the rally, so we have to see additional weakness during the coming sessions in order to scare this late longs and change the recent “buy the pullbacks” pattern fails to continue.
The extension of the recent move may probably call that a mid term low has been ´posted, but a good sell off that manages to press the SP lower to 780.00-760.00 may be normal as the market post a higher low just to enter in a multi month rally that could last into the end of the year.
Yesterday’s lows on the indexes, on the three of them will have to hold if yesterday’s pullback will give way to new highs, but the wide range downside session calls for more selling pressure. I was reading one of my favor analyst and he pointed that diagonal triangles as the one formed in the SP usually get resolved to the downside, but the multiple new highs posted by the index may give way to a sideways pattern instead of a strong sell off-
We started yesterday calling for a negative session, and we should assume that a downturn from the recent rally is now possible, however, days like yesterday, usually are followed by an inside day, so if that happens trading opportunities may be found on both sides of the markets, the bias, bearish until the SP trades back above the 852.00 area, the key for a bounce will be on the NQ which managed yesterday to close above the important 1300.00 area.

TODAY’S SESSION
There is initial resistance at 837.00-838.50 on the SP, 1320.00-1322.00 on the Nasdaq and 456.80-458.00 on the Russell, an early bounce that fail there may give way to the downtrend to continue, But if those areas get exceeded, look for a test of 841.50-843.00 on the SP, 1325.50-1327.00 on the Nasdaq and 461.50-462.80 on the Russell. Trading above them will result in some short covering pushing the indexes higher reaching 848.00-849.50 on the SP, 1333.00-1334.00 on the Nasdaq and 466.10-467.30 on the Russell.

Initial support is just at yesterday’s low at 830.00-828.50 on the SP, 1307.00-1305.50 on the Nasdaq and 452.10-450.50 on the Russell. Trading below them will invite new sellers with the indexes pushing down to a test of the next support areas at 825.00-823.00 on the SP, 1300.00-1298.00 on the Nasdaq and 448.10-447.30 on the Russell. If those areas can not hold look for the sell off to gain some momentum reaching 818.00-816.50 on the SP, 1294.00-1292.00 on the Nasdaq and 444.30-443.20on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 853.50-855.00 1340.00-1342.00 472.00-473.80
Resistance 3 848.00-849.50 1333.00-1334.00 466.10-467.30
Resistance 2 841.50-843.00 1325.50-1327.00 461.50-462.80
Resistance 1 837.00-838.50 1320.00-1322.00 456.80-458.00
PIVOT 842.50 1321.50 460.30
Support 1 830.00-828.50 1307.00-1305.50 452.10-450.50
Support 2 825.00-823.00 1300.00-1298.00 448.10-447.30
Support 3 818.00-816.50 1294.00-1292.00 444.30-443.20
Support 4 813.50-812.00 1286.00-1284.00 440.90-439.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1021.69 1553.50 581.4
961.71 1475.16 540.8
924.96 1427.16 515.9
902.25 1397.50 500.5
888.21 1379.16 491.0
865.50 1349.50 475.6
851.46 1331.16 466.1
847.13 1325.50 463.2
842.79 1319.84 460.2
828.75 1301.50 450.7
806.04 1271.84 435.3
792.00 1253.50 425.8
769.29 1223.84 410.4
732.54 1175.84 385.5
672.56 1097.50 344.9

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 849.25 1331.50 465.20
AS DAILY LOW 812.50 1283.50 440.30

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 22, 2009

DAILY TRADING ADVISORY 22-April-2009

CAT first loss since 1992 and DuPont lower outlook, Bank of New York Mellon falls on bigger than expected loss. Geithner says that most of the banks have more capital than needed. Fed buys $7 billion under program to lower borrowing cost. Markets rallied after a weak opening.

ECONOMIC DATA
10:35 AM Crude Inventories

YESTERDAY’S MARKET
With the markets trading lower during the night, the E-mini SP started the session at 824.00 and after testing the Globex 823.00 low it rallied to 830.50 where a double top ended the rebound. The SP backed off to 827.75 and leaded by the strength on the NQ pushed higher to 831.50. Unable to break above the resistance levels, the SP pulled back to 826.75 where the market held. A bounce to 829.00 and a pullback to 824.75 from where the markets started to push higher, the SP rallied all the way up to 837.00. The index pulled back to 834.75 and bounced back 839.25, just below the previous session intraday high. After consolidating near the highs and after trading at 839.75 the index finally broke to a new high at 842.00 where the rally lost its momentum the index pulled back to 838.25, bounced to a lower high at 841.50 and tested 837.75. Another attempt to break higher, once it failed resulted in another test of the intraday support at 838.00, another bounce and finally leaded by the lagging Nasdaq the SP pushed down a bit testing 836.00. With the Russell failing to follow the other indexes, the SP bounced back to the highs, once the the index pushed higher it rallied to 847.00 from where it pulled back to the 840.00 just to rally into the end of the session. For the day, the SP added 14.50 points closing at 848.00, the Nasdaq also gained 14.50 points and settled at 1328.00 and the Russell recovered 13.10 points closing the session at 467.90. The Dow gained 127 points closing at 7969.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “Finally the first signs that the rally may have coming to and end have appeared on the markets. Yesterday’s lower opening and continuing selling pressure may have leaved many late longs trapped near the Friday’s highs, but until now, every sell off attempt, pullback in this big countertrend rally from the march lows has been met with new buying, fear not to be long and miss the rally, so we have to see additional weakness during the coming sessions in order to scare this late longs and change the recent “buy the pullbacks” pattern fails to continue. The extension of the recent move may probably call that a mid term low has been ´posted, but a good sell off that manages to press the SP lower to 780.00-760.00 may be normal as the market post a higher low just to enter in a multi month rally that could last into the end of the year. Yesterday’s lows on the indexes, on the three of them will have to hold if yesterday’s pullback will give way to new highs, but the wide range downside session calls for more selling pressure. I was reading one of my favor analysts and he pointed that diagonal triangles as the one formed in the SP usually get resolved to the downside, but the multiple new highs posted by the index may give way to a sideways pattern instead of a strong sell off. We started yesterday calling for a negative session, and we should assume that a downturn from the recent rally is now possible, however, days like yesterday, usually are followed by an inside day, so if that happens trading opportunities may be found on both sides of the markets, the bias, bearish until the SP trades back above the 852.00 area, the key for a bounce will be on the NQ which managed yesterday to close above the important 1300.00 area.”

Yesterday’s lower opening and late rally has placed the indexes in a consolidating pattern after the recent highs and the wide range Monday’s downside session. The fact that the Nasdaq held above the key 1300.00 area and the Dow was able to close above the 7800 area may give way to another attempt to move higher, the pullback to the 823.00 level and the rally keeps the uptrend intact, and the importance of this fact is that the markets only sold off for one day without showing any follow through to the weakness. So my analysis is a bit complicated because the pullback held perfectly at the 21.4% Fibonacci retracement between the recent highs and lows.
So if I am thinking that a test of the March lows or a higher low may be seen in the process of building a base, a bottom, yesterday’s session may indicate that the markets are not ready yet for that move.

In favor of the bear case, Monday’s early high at the 852.00 will have to get exceeded in order to invite buyers back to the markets, so selling the bounces all the time that this level holds, may be a good strategy.
Additional, the Nasdaq seems to have some troubles at the recent highs, and because that index, besides the banking sector have been those who have fueled the rally, watching them closely for markets direction could help us to try to figure markets direction. Obviously once the SP trades below the 831.00, the Nasdaq breaks below 1300.00 or the Dow trades below 7800 the moment will favor the bears.

TODAY’S SESSION
Initial resistance is just above yesterday’s highs and below Monday’s early highs at 849.50-851.00 on the SP, 1332.00-1334.00 on the Nasdaq and 469.80-470.80 on the Russell. If those hold, look for the downtrend to resume, however if the markets break higher look for a test of the next levels at 853.50-854.50 on the SP, 1337.00-1338.50 on the Nasdaq and 472.70-473.60on the Russell. If those can not hold then the upside will gain additional momentum pushing the indexes up to 859.00-861.00 on the SP, 1344.00-1346.00 on the Nasdaq and 475.50-477.00 on the Russell.

Initial support is at 845.00-844.00 on the SP, 1324.00-1322.00on the Nasdaq and 465.00-463.80 on the Russell. If the markets open below those levels they may stay under pressure at least for the first hour of the session and reach 841.50-840.00 on the SP, 1316.00-1315.00 on the Nasdaq and 461.10-460.30. If the SP bottoms there look for a good rally but if those areas fail, the markets may be able to push lower reaching 836.50-835.00 on the SP and 456.30-455.10 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 865.50-867.00 1355.00-1356.00 481.20-482.90
Resistance 3 859.00-861.00 1344.00-1346.00 475.50-477.00
Resistance 2 853.50-854.50 1337.00-1338.50 472.70-473.60
Resistance 1 849.50-851.00 1332.00-1333.00 469.80-470.80
PIVOT 839.75 1319.50 462.00
Support 1 845.00-844.00 1324.00-1322.00 465.00-463.80
Support 2 841.50-840.00 1316.00-1315.00 461.10-460.30
Support 3 836.50-835.00 1310.00-1308.00 456.30-455.10
Support 4 831.00-829.00 1301.50-1299.00 451.20-449.30

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
958.19 1458.56 559.3
916.16 1409.19 524.8
890.41 1378.94 503.7
874.50 1360.25 490.7
864.66 1348.69 482.6
848.75 1330.00 469.6
838.91 1318.44 461.5
835.88 1314.88 459.1
832.84 1311.31 456.6
823.00 1299.75 448.5
807.09 1281.06 435.5
797.25 1269.50 427.4
781.34 1250.81 414.4
755.59 1220.56 393.3
713.56 1171.19 358.8

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 861.00 1344.00 479.20
AS DAILY LOW 835.50 1313.00 458.10

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 24, 2009

DAILY TRADING ADVISORY 24-April-2009

Initial Claims rising and Continuing Claims at record highs, Existing Home sales down 3%, markets fluctuate but manage to rally into the end of the session.

ECONOMIC DATA
8.30 AM Durable Good orders
10:00 AM New Home Sales

YESTERDAY’S MARKET
After trading higher during the Globex session, the E-mini SP started the day at 842.50 from where a feeble bounce to 844.00 gave way to a pullback to 839.75. After holding that level during the first minutes of the session, the SP bounced to 845.00 just to get sold down to 833.75. With strong support at that area the index rallied to 842.50 where sellers stepped back in and the index pushed to new lows just at the 831.25 important levels. As we mentioned on our newsletter, the key support area held and the index rebounded. The SP reached 837.25 and pulled back to 834.50.once the index held at my support areas it bounced back to 840.75, backed off a couple of points and pushed higher to 843.75.After trading in a narrow range and while the SP and Nasdaq traded below our resistance areas, the markets pulled back, the SP to 838.75 from where another bounce to 842.00, once that level get broke the index pushed higher reaching 847.00 After a few attempts to break higher and unable to trade at the 848.00 Globex highs, the index sold off to 840.00, once that level failed to hold, the SP pushed lower to 835.75.With the markets fluctuating, the SP bounced back to 846.00, a pullback to 842.50 gave way to another up move to 849.75 holding near the highs into the close. For the day, the SP added 11.75 points and settled at 848.75, the Nasdaq gained 18.50 points ending the session at 1342.00 and the Russell closed almost unchanged at 465.80.The Dow closed higher by 70 points at 7957.

.

MARKET COMMENTARY AND OUTLOOK
Yesterday I wrote: “With the markets waiting for the release of the bank’s stress test to get announced as soon as Friday and with the results already pointing that all the banks have enough capital, a lie, there is still chance to see another marginal high on an emotional spike once the news is out. I assume that after that, the markets will show another wide range downside session. But if tomorrow, the markets move lower then the announcement could give way to a strong sell off as the markets could act under the principle of “buy the rumor, sell the news”. So, the most probable scenario calls for the market to hold until Friday and another day where the markets fluctuate could be seen before the next sizeable move happens, under this uncertainty, selling the rallies once the momentum dries seems to be the less risky strategy, and sellers should join any weakness once the SP trades back below 831.00 The Dow has continued to show signs of topping, and the 8000-8150 areas have proved to offer good resistance while the 7800 is the key support level, once that market breaks above or below those levels, a strong move will happen, meanwhile we have a clear sideways pattern. Yesterday’s later sell off may be the first symptom that the markets had or are topping, these volatility at the highs may signal a reverse of the current trade, but the move will have to get confirmed also by the NQ trading below 1300.00 and the Dow below 7800.”

Markets continue to trade in this daily sideways pattern as it seems that selling the rallies in front of an expected sell off has been less risky than be involved in the late powerful rallies. The week hve the indexes trading without direction and they will probably continue to do it until investors get a better perspective of the banking sector, waiting for the release of the results of the stress test seems to be the reason why the indexes continue to hold in this sideways pattern.
The 831.00 area on the SP, 1300.00 on the Nasdaq, 7800 on the Dow, and at a higher level 450.00 on the Russell are the levels to be watched for a downside turn in the markets, and if that happens, the 800.00 level on the SP will get visited.
We have been calling for a lower high or a test of the March lows, it seems that time is running and the daily and weekly chart may be sending signals, that those lows won’t get tested in the near future, however if the SP finally reaches the 800.00 area and fails to hold there starting to scare the bulls, once that index test the 765.00 level, the markets will make it and bounce strong for the rest of the year or simply go for the test of the lows as the longs may be throwing the towel.
Meanwhile, today, end of week, if the markets are able to rally, they could give us a nice surprise and push to new recent highs, but if the selling pressure continues, then the best for them will be to hold the recent trading pattern and wait for the release of the stress test that surely will impact them.

TODAY’S SESSION
Initial resistance at 850.00-851.75 on the SP, 1347.00-1349.00 on the Nasdaq and 466.20-467.20 on the Russell, breaking above them could force the markets higher to 854.00-855.50 on the SP 1354.00-1355.50 on the Nasdaq and 468.90-470.10 on the Russell. Take into account that the SP already failed this week from the 852.00 level. If the markets are strong then the next areas could be an upside objective at 860.00-861.00 on the SP, 1364.00-1366.00 on the Nasdaq and 473.60-474.40 on the Russell. If the markets break above them, they could be on the way to new highs.

There is support at 846.50-845.00 on the SP, 1336.50-1334.50 on the NQ and 464.00-462.90 on the Russell; holding there may give way to a trend session pushing the markets all the way up to the 860.00 on the SP, however, if the markets trade below them look for the indexes to push lower testing 841.00-839.50 on the SP, 1330.00-1328.00 on the NQ and 460.50-459.30 on the Russell. Those have been acting as pivotal levels, if the SP can not hold there 836.00-835.00 on the SP, 1318.00-1316.00 on the NQ and 457.00-455.80 on the Russell could be the last support area before we see a strong sell off. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 868.75-870.50 1373.00-1375.00 481.30-483.00
Resistance 3 860.00-861.00 1364.00-1366.00 473.60-474.40
Resistance 2 854.00-855.50 1354.00-1355.50 468.90-470.10
Resistance 1 850.00-851.75 1347.00-1349.00 466.20-467.20
PIVOT 843.50 1336.00 464.40
Support 1 846.50-845.00 1336.50-1334.50 464.00-462.90
Support 2 841.00-839.50 1330.00-1328.00 460.50-459.30
Support 3 836.00-835.00 1318.00-1316.00 457.00-455.80
Support 4 826.00-824.00 1307.50-1306.00 450.20-449.60

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
929.69 1467.31 539.8
899.09 1421.21 514.3
880.34 1392.96 498.7
868.75 1375.50 489.1
861.59 1364.71 483.1
850.00 1347.25 473.5
842.84 1336.46 467.5
840.63 1333.13 465.7
838.41 1329.79 463.9
831.25 1319.00 457.9
819.66 1301.54 448.3
812.50 1290.75 442.3
800.91 1273.29 432.7
782.16 1245.04 417.1
751.56 1198.94 391.6

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 858.75 1358.75 469.70
AS DAILY LOW 840.00 1330.50 454.10

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 27, 2009

DAILY TRADING ADVISORY 27-April-2009

Ford and Chrysler burning less cash, Durable Good orders down .8% and New Home sales down .6%, much better than expected, US government, releasing details of how it conducted "stress tests" on the nation's 19 largest financial institutions, said "most banks currently have capital levels well in excess of the amounts needed to be well capitalized. Markets rallied.

WEEKLY PIVOTS FOR WEEK ENDING 1st-May-2009
R3 928.25
R2 898.00
R1 882.00
PP 852.75
S1 853.00
S2 836.00
S3 807.00

ECONOMIC DATA
None

WEEKLY RECAP
Markets consolidated during the week and surprisingly were able work their way back higher after a few sell off attempts. Monday’s early news about Oracle buying Sun Microsystems and Bank Of America better than expected earnings were not enough to push the markets higher, the Leading Indicators numbers came out at minus 0.3% and IBM profits slipped but were better than expectations, however, the highs were done in the early morning and the markets traded down all the session and the markets closed with big losses, for the day, the SP lost 33.75 points and settled at 833.00, the NQ lost 38.50 points finishing the session at 1313.50 and the Russell gave back 21.60 finishing at 454.80.the Dow closed lower by 289 points ending the day at 7841. Tuesday’s session was just the opposite, early weakness came from Caterpillar, it reported its first loss since 1992 and concerns about the banking sector after Bank of new York Mellon reported bigger than expected losses, dominated the negative opening, however commentaries by secretary Geithner about the banking sector indicating that most of them have enough capital gave way to a rally on the financials and a reversal of the early losses, also the Fed bought another $7 billion of long term bonds under the program to lower the borrowing cost, the session was positive and the SP added 14.50 points closing at 848.00, the Nasdaq also gained 14.50 points and settled at 1328.00 and the Russell recovered 13.10 points closing the session at 467.90. The Dow gained 127 points closing at 7969. Wednesday’s session, markets fluctuated; Capital One, Advanced Micro Devices and Morgan Stanley reported wider than expected losses which gave way to a lower opening, however the SP held the short term key support area at 831.00 and markets rallied but sold off during the last hour of the session, McDonalds revenue climbed and after hours Apple reported better than expected results. For the day, the SP lost 10.75 points and closed at 837.00, the Nasdaq ended lower by 4.50 points and settled at 1323.50 and the Russell lost 2.00 closing the day at 465.60. The Dow lost 82 points ending the day at 7886. Thursday’s session continued to see the markets trading in the weekly ranges and holding the key support areas, Initial and Continuing jobless claims came out higher and Existing Home sales, markets traded quietly and bounced into the end of the session, the SP added 11.75 points and settled at 848.75, the Nasdaq gained 18.50 points ending the session at 1342.00 and the Russell closed almost unchanged at 465.80.The Dow closed higher by 70 points at 7957. With growing expectations about the results of the banks stress test and after Ford and Chrysler reported that they burned less cash and the new home sales report came down only 0.6%, less than expected, markets opened strong and rallied, later and after the government said that most of the banks have enough capital the rally continued and to end the week the SP added 17.75 points and settled at 866.50, the Nasdaq closed higher by 33.00 points ending the session at 1375.00 and the Russell gained 12.20 ending the week at 478.00. The Dow gained 119 points and settled at 8076.

FRIDAY’S MARKET
Markets started the session on the green. The E-mini SP started the day at 855.50 from where it bounced to 857.00. Leaded by a pullback on the Nasdaq, the SP tested 852.00, bounced back to 855.00.The first minutes of the session, the markets traded in a sideways pattern with an upside bias, the SP reached 857.50. Once the new home sales data get released the SP rallied to 860.25 from where it pulled back to 855.25 and rebounded to test the highs, after holding there, the SP made a new marginal high at 861.00. With the markets trading under buying pressure, the SP reached 863.75. After sitting for a while at the highs the SP pushed higher to 868.75 and after trading in a sideways pattern and holding at 865.00. After a few attempts to break higher, the markets sold off during the last minutes of the session, the SP pushed down to 856.75 but managed to bounce into the close. For the day, the SP added 17.75 points and settled at 866.50, the Nasdaq closed higher by 33.00 points ending the session at 1375.00 and the Russell gained 12.20 ending the week at 478.00. The Dow gained 119 points and settled at 8076.

.

MARKET COMMENTARY AND OUTLOOK
Last Friday I wrote: “Markets continue to trade in this daily sideways pattern as it seems that selling the rallies in front of an expected sell off has been less risky than be involved in the late powerful rallies. The week have the indexes trading without direction and they will probably continue to do it until investors get a better perspective of the banking sector, waiting for the release of the results of the stress test seems to be the reason why the indexes continue to hold in this sideways pattern. The 831.00 area on the SP, 1300.00 on the Nasdaq, 7800 on the Dow, and at a higher level 450.00 on the Russell are the levels to be watched for a downside turn in the markets, and if that happens, the 800.00 level on the SP will get visited. Meanwhile, today, end of week, if the markets are able to rally, they could give us a nice surprise and push to new recent highs, but if the selling pressure continues, then the best for them will be to hold the recent trading pattern and wait for the release of the stress test that surely will impact them.”

Markets posted another bullish session reaching some of their best levels since the crisis started. I must confess that I am really surprise about the capability of the markets to keep holding despite that everybody knows that the governments hand is behind the apparent better situation on the banking sector, complete lie, a scam. But my work is not to criticize the government actions and as everybody I hope at some time thinks will get better for all the people.
Last week capability of the markets to come back after a couple of sell off and trend change attempt make me think that in the same way that the indexes melted down during the last months, in the same way they can surprise us and rally more than expected, but the nature of the wild swings seen when the markets have posted their most recent highs, indicates a lack of buying at these levels, tops tend to show volatility, and this past week, both days that the SP tested the 870.00 level the buying just dried and the markets sold off quickly; no matter if they came back into the close, the air was thin at the highs.
This makes me think that we are in a point where three different scenarios could be seen during the next coming weeks, the first one, that the indexes finally, leaded by the Nasdaq and Russell break higher pushing the SP to a new high closer to the 900.00 level or above it, and then resume the downtrend; the second one is to see the SP struggling to push above the 872.00 area, make a marginal new high, just to trap some new longs and then show a wide range down session that have some follow through pushing this markets down to the 800.00 area where I suspect support will be found, or the third one, that the markets repeat what they have done during the last two Mondays, a negative session that this time it shows a continuing pattern pushing the SP down to 770.00. The true is that some players will get really surprise, or by the magnitude and extension of the recent rally, or by its failure.
So the coming session will show us the way for the next month, for the long term downtrend to remain intact, the SP will have to fail near the 900.00 area, trading above it will indicate the possibility that the bear campaign has been completed.
For today’s trading session, if the markets open lower, look for the first decent pullback to get long, but the low trading volumes characteristic of the Monday’s session should give way to a correction once the rally lost its steam, remember that the Nasdaq has been the most bullish index, so the turn around may start from it, so, following the NQ as an indication for markets direction could help traders to be well positioned if the rally, which I think, may found a high during this week will get reversed after the end of month bullish bias and the stress test farce end.

TODAY’S SESSION
There is initial resistance at 869.50-871.00 on the SP, 1379.00-1382.50 on the Nasdaq and 479.90-480.70 on the Russell, an early bounce that fail to break above them posting a double top below Friday’s highs, may offer a good shorting trade. But if those areas get exceeded, look for a test of 874.00-876.00 on the SP, 1388.50-1390.50 on the Nasdaq and 483.60-484.10 on the Russell. If those can not stop the rally, look for the markets to reach 881.00-881.50 on the SP, 1398.00-1398.50 on the Nasdaq and 487.80-489.30 on the Russell where I will be a seller the first time they get tested.

Initial support is at 863.00-861.50 on the SP, 1371.00-1368.00 on the Nasdaq and 474.30-472.40 on the Russell. Trading below could push the indexes to a test of last Friday late lows at 858.00-856.00 on the SP, 1362.00-1360.00 on the Nasdaq and 469.70-468.90 on the Russell. Those may hold, failing there could give way to a stronger pullback down to 851.50-849.00 on the SP, 1351.00-1349.00 on the Nasdaq and 465.70-463.90 on the Russell. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 886.00-887.50 1406.00-1408.00 494.00-495.50
Resistance 3 881.00-881.50 1398.00-1398.50 487.80-489.30
Resistance 2 874.00-876.00 1388.50-1390.50 483.60-484.10
Resistance 1 869.50-871.00 1379.00-1382.50 479.90-480.70
PIVOT 859.00 1363.00 473.70
Support 1 863.00-861.50 1371.00-1368.00 474.30-472.40
Support 2 858.00-856.00 1362.00-1360.00 469.70-468.90
Support 3 851.50-849.00 1351.00-1349.00 465.70-463.90
Support 4 844.00-843.00 1337.00-1336.00 459.70-458.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
984.56 1561.25 568.0
940.09 1491.07 534.8
912.84 1448.07 514.5
896.00 1421.50 502.0
885.59 1405.07 494.2
868.75 1378.50 481.7
858.34 1362.07 473.9
855.13 1357.00 471.6
851.91 1351.93 469.2
841.50 1335.50 461.4
824.66 1308.93 448.9
814.25 1292.50 441.1
797.41 1265.93 428.6
770.16 1222.93 408.3
725.69 1152.75 375.1

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 881.00 1398.25 490.00
AS DAILY LOW 854.00 1355.00 469.70

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

arturo1 · Apr 28, 2009

DAILY TRADING ADVISORY 28-April-2009

Stocks, grains fall as swine flu spreads. GM to cut 21K jobs but may reach an agreement with bondholders. Markets fluctuate but closed on the red.

ECONOMIC DATA
10:00 AM Consumer confidence
10:00 AM S&P / Case-Shiller Home Price Index

YESTERDAY’S MARKET
Markets started the session under extreme pressure as fears that the swine flu will derail any economic recovery. The E-mini SP started the day at 851.75 and rallied to 855.00, pulled back to 852.50, bounced to a lower high and pushed down once more posting a double bottom. After another test of the 855.00 area, the SP backed off to 851.75 but rallied back to 856.75, after a few minutes the SP pushed higher reaching 858.50 but failed to break up and fell to test the early 852.00 area. With increased volatility, the SP bounced back all the way up to 859.50, after pulling back to 858.00 it rallied to 860.50 from where it pulled back once more to 857.00 but rallied to new intraday highs at 863.25. After holding at the highs, the SP pushed up to 865.25.The index pulled back to 862.00 and traded in a sideways pattern holding below the intraday high. Finally the index topped at 865.75 and pulled back to 857.00.after bouncing back to 860.00, the SP pushed lower reaching 853.25, bounced a couple of points and pushed lower to 850.50. After forming a bottom, the SP bounced to 856.00, pulled back to 851.00, rallied once more to the 856.50 resistance area and backed off to 851.75 from where another bounced started in the last twenty minutes of the session reaching 859.00, tested once more the 852.00 area and bounced into the close. For the day, the SP lost 9.75 points and settled at 856.75, the Nasdaq ended lower by 2.50points at 1372.50 and the Russell gave back 7.60 points ending the session at 470.50. The Dow lost 51 points and settled at 8025.

.

MARKET COMMENTARY AND OUTLOOK
Last Friday I wrote: “Last week capability of the markets to come back after a couple of sell off and trend change attempt make me think that in the same way that the indexes melted down during the last months, in the same way they can surprise us and rally more than expected, but the nature of the wild swings seen when the markets have posted their most recent highs, indicates a lack of buying at these levels, tops tend to show volatility, and this past week, both days that the SP tested the 870.00 level the buying just dried and the markets sold off quickly; no matter if they came back into the close, the air was thin at the highs. This makes me think that we are in a point where three different scenarios could be seen during the next coming weeks, the first one, that the indexes finally, leaded by the Nasdaq and Russell break higher pushing the SP to a new high closer to the 900.00 level or above it, and then resume the downtrend; the second one is to see the SP struggling to push above the 872.00 area, make a marginal new high, just to trap some new longs and then show a wide range down session that have some follow through pushing this markets down to the 800.00 area where I suspect support will be found, or the third one, that the markets repeat what they have done during the last two Mondays, a negative session that this time it shows a continuing pattern pushing the SP down to 770.00. The true is that some players will get really surprise, or by the magnitude and extension of the recent rally, or by its failure. For today’s trading session, if the markets open lower, look for the first decent pullback to get long, but the low trading volumes characteristic of the Monday’s session should give way to a correction once the rally lost its steam, remember that the Nasdaq has been the most bullish index, so the turn around may start from it, so, following the NQ as an indication for markets direction could help traders to be well positioned if the rally, which I think, may found a high during this week will get reversed after the end of month bullish bias and the stress test farce end.”

This time was the flu, but this is the third Monday in a row that the markets are under pressure. This flue fear could last for one or two more days, but the importance of the trading pattern continues to be the same.
The SP has not been able to close above the last high, and that is threatening the recent rally, the Dow has been trading in some kind of congestion between the 7800 and 8200 area, and the NQ which has been the most bullish index keeps holding its powerful trend.
Yesterday I wrote that we could see this trend get resolved in three different ways, a surprising continuation pattern that pushes the SP above the 900.00 area, or just a marginal new high that leaves late longs trapped at the highs, the other one, is for the markets to exhaust the uptrend, by a spike, or by this kind of sideways pattern that finally gets broken to the downside, and yesterday’s negative session keeps this scenario open.
So, if the scenario that the market will fail at these levels will become the one that its true, the selling that we saw yesterday will have to show some follow through and break the recent support levels around the 831.00 area on the SP, and obviously the 873.00-875.00 area must remain intact on a closing basis, because if the SP closes 2 times above it, it could become strong support and give this index the momentum to try to get near the 900.00.
So this week is very important for the markets, and the way the leading index, the Nasdaq trend will be the key to establish if the markets have posted a solid low and the SP will trade above the 800.00, or the markets are just in a bear market rally.
For today’s trading session, selling the rallies all the time that the SP keeps trading below yesterday’s highs or the NQ does not break above 1385 may be the way to go but early support could be found around the 850.00 level on the SP and the selling pressure will be stronger, only below 843.00.

TODAY’S SESSION
There is initial resistance at 858.00-859.00 on the SP, 1378.00-1380.00 on the Nasdaq and 470.70-472.00 on the Russell, if the markets fail to break above them look for more downside pressure, but if they trade above them, the next resistance levels are at 861.00-863.00 on the SP, 1383.50-1385.00 on the Nasdaq and 475.40-476.20 on the Russell. The trend will have to be solid to push above them, if that happens the 866.00-867.50 on the SP, 1390.00-1392.00 on the NQ and 478.30-479.50 on the Russell will be the last obstacle for the bulls.

Initial support is at 853.00-851.50 on the SP, 1366.00-1364.00 on the Nasdaq and 467.60-466.10 on the Russell. Trading below could push the indexes to a test of last yesterday’s Globex lows at 848.00-846.50 on the SP, 1360.00-1358.00 on the Nasdaq and 464.00-463.20 on the Russell. If those hold look for the markets to rebound, but if they fail, a test of 843.00-842.00 on the SP, 1354.00-1352.00 on the Nasdaq and 461.40-459.80 on the Russell may get a visit before buyers step back in. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 4 873.00-875.00 1400.00-1401.00 482.20-484.10
Resistance 3 866.00-867.50 1390.00-1392.00 478.30-479.50
Resistance 2 861.00-863.00 1383.50-1385.00 475.40-476.20
Resistance 1 858.00-859.00 1378.00-1380.00 470.70-472.00
PIVOT 856.50 1368.75 467.80
Support 1 853.00-851.50 1366.00-1364.00 467.60-466.10
Support 2 848.00-846.50 1360.00-1358.00 464.00-463.20
Support 3 843.00-842.00 1354.00-1352.00 461.40-459.80
Support 4 837.00-835.50 1346.00-1344.75 457.20-455.50

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
984.56 1561.25 568.0
940.09 1491.07 534.8
912.84 1448.07 514.5
896.00 1421.50 502.0
885.59 1405.07 494.2
868.75 1378.50 481.7
858.34 1362.07 473.9
855.13 1357.00 471.6
851.91 1351.93 469.2
841.50 1335.50 461.4
824.66 1308.93 448.9
814.25 1292.50 441.1
797.41 1265.93 428.6
770.16 1222.93 408.3
725.69 1152.75 375.1

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 881.00 1398.25 490.00
AS DAILY LOW 854.00 1355.00 469.70

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

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