Entry Here:

Long 904 is 9.25 pts off the high - close to the 10 pts theorized -

Now 905.50 -

Upside is 5 pts or 909, stop is 901.

Raise stop to breakeven after 15 minutes.

Exit after 30 minutes.

11:34AM

NEUTRAL MARKET CONDITION: FRIDAY 11:09AM

No trades yesterday setup.

Today I see that conditions are ripe for continued sideways action - the cross currents are in place to keep the market oscillating in a range and right now I see 10 pt rallies in ES as a short sale and 10 pt declines as a buy, each risking 5 pts and targeting 5 pts.

There are bearish and bullish factors that may very well keep us contained the rest of the day -
bond market rebounding on weak PMI data and deflation concerns and deeply oversold technical condition of the bond market is a bearish factor. The rising YEN is a bearish factor and the bearishness expressed in the options market is a bullish factor as I see it.

902.25 LOW in ESM9 since 9:30AM-
913.50 HIGH
906.50 last, +1.00 on the day.

I'll update parameters when I see a specific entry price.

11:15aM

Last Buy Signal Stopped Out at Breakeven 907

898.25 last.

I'm seeing a 913 to 896 correction in the ESM9 futures -

but I am not seeing a setup to give us a low-risk trade that I am familiar with.

It is tempting to buy just because the price is down and we are falling into what could be support zones - but I am not seeing what I often see at inraday market bottoms -

900.25 last...

More bullish environment now at 11:45AM

The market environment is more constructive than at 11:00AM as more pessimism has crept into the market as prices are holding - this sets up a bigger profit target and now a higher stop loss.

Raise the stop from 905 to 907 and raise the upside target to 915 from 912.

910.50 last

11:00AM - Bullish/Neutral Environment

Buy signal here risking 5 pts to make 5 pts in ES.

After 30 minutes, raise stop to only 3 pts risk.

After 60 minutes, raise stop to breakeven.

909 as I started typing, 907.50 last.

11:05AM EST

ES 911 High = Buy Signal at 906 on 5 pt pullback

Raise stop to breakeven after 15 minutes from entry.

OR, exit at 4pm.

Still No Entry Provided as of 11:53AM -
Testing my Text to Blogger capability with this text -

11:35AM - No pullbacks of 5 pts in ES

Bullish Environment - no pullback yet to enter long after the 10:00AM Consumer Confidence #.

904.25 high, 902.5 last at 11:37AM

I still suggest buying at 5 pts off the high, risk 4 pts, target 7 pt profit.
ALSO - raise stop to breakeven after just 15 minutes (if there is an entry)

Bullish Environment = Buy 5 pt ES, or 50 pt YM pullbacks

At 10:30AM the environment is bullish after a strong consumer confidence reading of 54.9 vs 40.8.

The high in the ES is 902.50 and the YM 8423

Buy 5 pt pullbacks in ES at 897.50, risk 4 pts, target 7 pts profit.
Buy 50 pt pullbacks in YM at 8373, risk 40 pts, target 70 pts profit.

Tim
10:36AM.... new highs were just reached at 904.25 and YM 8436.... adjust accordingly

BUY SP500 12:42PM

JUNE ES 890.50 LAST.
Targeting 895 within an hour. Exit at 895. Risk 887.
Raise stop after 30 minutes (at 1:15PM EST) to breakeven entry price.

Based on pattern: HCV_FV (my code to track the signal)

12:44PM now