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I have Friday Sept 19 on my calendar as the expiration day for the NQ and ES September contracts. Is that right? Assuming Sept 19 is correct, do you typically rollover a week before the contract expires?
Can you help answer these questions from other members on NexusFi?
I used to roll over the Friday before. But after talking with @srgtroy I decided to roll over on the Monday of the exp week. I just didn't roll Monday morning before I started trading.
Nothing like missing the best two days of the season so far
Anyway, after struggling with ETH vs RTH, I have realized that the most accurate chart to use for fibs on index charts is in fact, the index itself. The positive side of this is increased accuracy. The negative side is the levels are not exactly the same as futures prices. I will have to figure out the best way to work with that. At any rate, from now on, I will be using the NDX chart.
Levels for tomorrow:
Key support at 4053 && 4048.
Key resistance at 4086.10 && 4089.27-4091.62 if we get that high...
4070 MM still resistance above. Hanging on the 20 SMA at the moment. I have a tighter TL I drew from recent lows (I don't think it will matter, but you never know.) I believe we will continue to range and form a wedge/flag towards the longer TL. Once it hits that could cause a rally to test new highs.
I am gonna say this now because I just want it noted, but I don't know how likely. If a flag forms it could be a final flag. That would lead to a breakout rally, reversal, and correction. Even if that did happen we are talking weeks/months. That is just what I see at the moment. That could change with additional price action over the week. You can't really call a final flag in the future, it tends to be a hindsight thing. The last flag in a trend becomes the final flag.
Lots of news and events this week could lead the market in a different direction.
