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
Friday, May 29, 2009
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
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
Wednesday, May 27, 2009
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...
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
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
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
Tuesday, May 26, 2009
ES 911 High = Buy Signal at 906 on 5 pt pullback
Raise stop to breakeven after 15 minutes from entry.
OR, exit at 4pm.
OR, exit at 4pm.
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)
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
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
Friday, May 22, 2009
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
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
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