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Daily June e-mini S&P show a continuation of the rally from Friday. For the bulls though this can be considered somewhat disappointing because the volume was lower on the rally.
This could indicate a lack of demand. Still the trading range is in tact 1530 area to the 1583 area.
With the recent behavior, bears seem to have an upper hand.
BUT I think the 1530 area must be taken out with supply to possibly have mark down.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Daily e-mini June S&P shows a higher close on Monday. The decreased volume is NOT a lack of demand but a lack of supply in an up trend. The move above 1583 was quite easy intra-day today. Short term 1570 is important support with 1593-1596 resistance then 16000 -11602 reverse trend line area.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Weekly June E Mini S&P shows a new high for the S&P last week in a continuation of a good close the week before. 1623 is the next upside target which is the reverse trend line. 157375, last weeks lows, is now considered support. Trend is UP and no supply evident.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
Weekly e-mini S&P shows the up trend channel to be very strong with a potential target of 1655 (reverse trend line). Last week was a new closing high with decent volume. Bottom line is there is no supply at this point. Markets do correct in any trend but if they are to maintain the trend, the correction tends to be quick as shakeouts do often occur.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
BTW, David Weis will be on nexusfi.com (formerly BMT) as part of our 4-year anniversary -- along with about 15 other speakers -- and I believe this is the book that we will be giving away 10 copies of.
In just a few days, on June 10th, Big Mike Trading will turn 4 years old!
:partywave:
I am extremely proud of the community and everything that we've worked so hard to accomplish together. To say thanks to everyone for a fantastic 4-years, I have …
June Weekly e-mini S&P was higher last week with increased volume and good bar length. As long as 162150 holds, the action remains positive. As we can see there is no supply. If a break would come it would be due to "news" that longs would liquidate.
There is a substantial risk of loss in trading commodity futures and options. Past performance is not indicative of future results. The opinions expressed here are those of Gary Fullett, and are not to be taken as a recommendation to buy or sell commodity futures or options. This is for educational purposes only.
I thought I'd take a look at crude from the weekly down to the 60 min and a 3000 tick. Seems like we are at resistance and not progress has been made in two or three weeks. I don't really know if the trend is going to turn down or if it is just absorbing supply getting ready to move higher. Some signs that things may turn, but always need to be nibble and trade what you see.
