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DTs Pre Market Prep

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1st November



Still in the pre-election malaise.



Yesterday was quite narrow. We have had narrow days in the range before and most of the time we have shaken it off and put in a decent range day. We should be aware though, that as we get close to the election, traders may back off.

So the plan isn't changing - but we should be aware of the possibility of a slowdown into the 8th.

Plan
- A balanced market - so go with trades to the end of the range, then fades at the extremes of price OR value.
- News risk is high considering the Feds announcements on Friday
- Still looking for early trades
- an eye on the longer term range means anything below 2011 is worth fading for a long

Weekly Numbers

Range 2107.75-> 2163.50
Value 2116.25 -> 2141.75
S1 - 2102, R1 - 2157.75

Daily Numbers
Range 2114.75 / 2119 -> 2127.75 / 2130.25
Value 2121 -> 2125.50
Globex 2114.75 -> 2129.50

Settlement – 2127.75

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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DionysusToast View Post
- News risk is high considering the Feds announcements on Friday

Wednesday FED day,
Friday is NFP

We have twice the fun this week.

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puma View Post
Wednesday FED day,
Friday is NFP

We have twice the fun this week.

I can't imaging the Fed doing anything this week - not so close to the election. I could be wrong though!

We were blessed in the fun department yesterday for sure.

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7th November



Kudos to Gary Norden calling the market as having "priced in a Clinton win". Markets dropped on the re-launch of the FBI investigation into her emails and has now gapped up on the "nothing to see here" from the FBI.

Next 2 days are at high chance of news risk, certainly trading tomorrow will be potentially risky - although I'm not sure what restrictions there are on election related news releases while the polls are open.

For today, well potentially we have some ground to make up to the upside based on where we were when the FBI dropped the news last week. On the other hand, we may find traders simply don't want to take the risk today.



We have 2 distributions formed last week. The lower one seems to top out at 2102.50 and the upper one has a low of around 2120. If we pierce 2102.50, there's not much trade till 2120 - so look out for a pop if 02.15 breaks but be cautious as we approach 2120.' So we could pop to 2120 when the US traders come into the market.



Also to the downside, an eye on Fridays high if we do drop.

Plan
- There's a lot of variables coming into play this week - so an ear on the news as much as the action
- I'm cautiously bullish heading into today, mostly from the fundamental view that Mrs C seems to be in the clear
- Wikileaks should be of particular interest
- In the absence of news, we may find a general lack of interest IF speculators decide they don't want to play this close to the election, so an eye on volume/market depth


Weekly Numbers
Range 2078.75 -> 2130.50
Value 2079.75 -> 2107.75
S1 - 2063.25, R1 - 2112

Daily Numbers
Range 2079-> 2094.25
Value 2084.50 -> 2093.50
Globex 2102.75 -> 2111

Settlement – 2080

Today only - 2102.50, 2120

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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8th Nov

Trading is out of the question today for me.

Good luck to all those voting today!

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9th November

Markets are likely to be crazy today after the Trump win.

I'm not trading the S&P today but rather looking for some bargain stocks that get sold off too hard.

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10th November

Index futures have had a bit of a roller-coaster ride over the past few days during and since the election. So how do we adjust our approach to trading over the next few weeks?



Prior to the election, we’d been in a holding pattern. In fact as we left the summer time, we didn’t stop ranging, we just had larger daily moves but were still without direction. Now that Trump is President elect, we enter a period of perceived uncertainty. At this point, let’s step back and become a-political. It does not matter who you wanted to be President, it does not matter what you think about Trump. It only matters what the market thinks about Trump. So whether you think Trump brings certainty or uncertainty, the market seems uncertain. So personal opinions aside as you trade!

We enter a period of increased news risk. Trump does have a tendency to shoot from the hip and in turn the media does get into a frenzy. Again – don’t take this as political opinion, just as an observation of facts. So if Trump is being interviewed on mainstream TV, there is a possible that something he says initiates a move. Over the next few months, as he reveals his team and more details on policies, these announcements, will impact the market.

If you are trading Index Futures, Interest Rates or in fact, pretty much anything, you need to keep on your toes, keep an ear to the news squawks and keep an eye on liquidity. You can’t watch every news channel, so if you do feel liquidity is thinning out and the market is starting to show signs of odd behavior and you are in a trade, it might be a time to be a bit more aggressive about closing out.

Other than that, we should have a period of higher volatility. Which is good IF we adjust for it.

Now that the election is over, our first thing to consider is the overall range and whether we can escape it or not. So 2104-2183.75 (all time high) is my presumed range for the moment. If it breaks, I’ll be looking for a retrace back to the range extreme for a continuation trade.



We don’t get many clues at this point from the weekly profiles. Not everything is useful all the time.



Trading after a big move day can be a bit tricky. We can often have a snap back (although yesterday WAS a snap back) and give back all the gains/losses. We can get a continuation and we can get the market go into a shock, small range day.

So on days like this, the best approach is to wait for the volatility and take a “go with” trade. That potentially puts us towards the all time highs.

What we do have today is the late pullback yesterday to 2147.50, so watch that today.

So the plan for index futures today and the coming week is:

Plan

Watch out for the market taking a breather because that could happen any time.
If we get decent volume, and signs of volatility, take “go with trades” with a presumption of a decent run
Be wary as we approach 2104 & 2183.74
Let the range play as we get to the extremes. There’s risk of a lot of nudging around there.
If the range breaks, look for the market to fall back to the range and hold (not necessarily all the way), expect good participation on a continuation trade if that holds.
If the range doesn’t break – play to the other extreme.
Weekly Numbers
Range 2028.50 -> 2170.75
Value 2089.75 -> 2168.25
S1 – 2063.25, R1 – 2112

Daily Numbers
Range 2028.50 / 2118.25 -> 2166.75
Value 2136.75 -> 2166.75
Globex 2155.25 -> 2170.75

Settlement – 2160.25

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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14th November



As discussed last week, after the "Trump move" - we still haven't confirmed whether we can actually escape the range we've been in since the summer time - 2104-2183.75. So still presuming the range and on a break looking for the range to hold on a retest.



From a weekly perspective, we can see a step at 52.50, so looking for a reaction there to bring in speculators.



Also below us is the high of Friday, which we came close to a few times. So again, that's a price to watch on any pushes down.

Plan
- Presuming 2104-2183.75 range is still in effect
- Looking for support at 62.25 & 52.50 if we do move down
- Will presume any moves out of the range are headfakes until we hold a test back towards the range (then will play the continuation)
- Other than that - looking to take early trades once the range is fairly clear, relying on the day to put in a decent range as has been the case the past few months

Weekly Numbers
Range 2028.50 -> 2170.75
Value 2089.75 -> 2168.25
S1 – 2063.25, R1 – 2112


Daily Numbers

Range 2148.50 -> 2162.25 / 2170.50
Value 2153.75 -> 2160.25
Globex 2163.25 -> 2174.50

Settlement – 2161.50

Today only - 2152.50

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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15th November




To save typing - this from yesterday:


Quoting 
As discussed last week, after the "Trump move" - we still haven't confirmed whether we can actually escape the range we've been in since the summer time - 2104-2183.75. So still presuming the range and on a break looking for the range to hold on a retest.

It's looking pretty indeterminate based on yesterdays action.



This too:


Quoting 
From a weekly perspective, we can see a step at 52.50, so looking for a reaction there to bring in speculators.

We held 52.50 yesterday (well, 52.25) but the reaction wasn't convincing, looking for follow through today. Objectively, this is how crappy weeks often start - trapped around Fridays range on the Monday. So we need to get out or we have a high probability of a directionless week.



Not much to say on a daily basis as we just traded within Fridays range (incl globex)

Plan
- Expectations low going into today. Past 3 settlements have been extremely close.
- Yesterday was the 3rd consecutive inside day 2146.75-2180.50 is the range from 11/11 that these days are sitting inside 'inside' - so really any trade inside there is a coin toss
- The exception to that would be a hold off 52.50/52.25 again or yesterdays 'technical' levels
- I can't get excited about playing in the middle, although 80.50 does seem a way off, so I'm going to give myself max 3 attempts at a "follow momentum" trades within the 46.75-80.50 area today (unless we an extreme)
- This plan changes if we break out of this 46.75-80.50 range or test one of the extremes


Weekly Numbers
Range 2028.50 -> 2170.75
Value 2089.75 -> 2168.25
S1 – 2063.25, R1 – 2112


Daily Numbers

Range 2152.25 -> 2168 / 2174.50
Value 2156.25 -> 2163.25
Globex 2158.50 -> 2169.75

Settlement – 2160.50

Today only - 2152.50

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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17th November



Volume dropping off. No great shock given the way the week started. We can't escape last Friday's range. On Monday we said


Quoting 
We held 52.50 yesterday (well, 52.25) but the reaction wasn't convincing, looking for follow through today. Objectively, this is how crappy weeks often start - trapped around Fridays range on the Monday. So we need to get out or we have a high probability of a directionless week.

And so far we are playing that out, although we did have a brief pop through the high but interest was pretty low.



We are still holding the upper distribution from last week, so eyes still on 52.50 if we have a retrace.



We can see the poke through the all time high yesterday and the reaction was pretty pathetic. In fact, the day session couldn't even retest it.

Plan
- A sit and watch it play our morning - that move off the highs could gather momentum and see us sell off down to 2100
- It's entirely possible that we take another test up there and possibly blow through it. I think we haven't come off enough to say we are done to the upside. There's no volume either side.
- So eyes on momentum, volume. Expectation still low overall, just looking for people to hand their hats on a move

Weekly Numbers
Range 2152.25 -> 2185
Value 2160.25-> 2175.25
S1 – 2063.25, R1 – 2112


Daily Numbers
Range 2161.50 / 2175.50 -> 2183 / 2185
Value 2178.25 -> 2182.75
Globex 2168.75-> 2178

Settlement – 2172.75

Today only - 2152.50

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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28th November



Back to it after the Thanksgiving holiday week. As we can see an extremely low participation week where the market continues it's march upwards.

So into this week, we do have a little 'news risk' with the Jill Stein recount. I don't think the market is really taking it seriously at this point but it's worth keeping an eye on it because if it does get taken more seriously, then we could see ue giving back these gains.

Other than that, the first question the market needs to answer this week is - can we carry on moving up with a full participation market? I'll be presuming that and overall long biased with a pullback to 83.75 and a subsequent bounce up as a move that should gather a lot of long side speculation. A straight continuation up is OK but I'd prefer the pullback first.



Looking at the weekly profile, we have a big step at 2202 but that was a low volume week. Still, it's worth keeping an eye on.



Not much activity on the daily profiles.

Plan
- Long bias going in
- an ear on the news in case the 'recount' gathers steam/looks to change the result
- Looking for pullbacks to 2202, 2183.75 as areas buyers should step in and give us larger target trades
- Looking also for signs of the 'full volume' market rejecting these higher prices after the holidays

Weekly Numbers
Range 2178.50 -> 2211.75
Value 2193.25-> 2205.75

Daily Numbers
Range 2205.50 / 2204.75 -> 2211.75
Value 2206 -> 2209.50
Globex 2204.50 -> 2208.50

Settlement – 2211.25

Today only - 2202

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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29th November



Moving sideways and volume still low. We do have a few numbers out today which may give us a boost, otherwise I'm not seeing where the volume is going to come from unless.
- We hit a major support level (e.g. old high at 2183.75)
- or the market collapses

I'm still long biased so looking for support to encourage more buyers in.



We broker through the top of the major distribution yesterday and now the bottom of it is holding, so an eye on 2198 today.



We are in danger of settling into a range for the rest of the week. Not much to say about this other than that. Note that so far we have held yesterdays low, so we may have already had our test and just need the US traders to give us a boost upside.

Plan
- Long bias going in
- an ear on the news in case the 'recount' gathers steam/looks to change the result
- Looking for pullbacks to 2198, 2183.75 as areas buyers should step in and give us larger target trades if one of these holds
- Looking also for signs of the 'full volume' market rejecting these higher prices after the holidays


Weekly Numbers
Range 2178.50 -> 2211.75
Value 2193.25-> 2205.75

Daily Numbers
Range 219.25 / 2209.50
Value 2202.50 -> 2207.50
Globex 2198.75-> 2206

Settlement – 2200.75

Today only - 2198

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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30th November



Still no progress, so we wait for the market to break one way or the other. As per yesterday, it's looking more & more likely that we'll sit in this range for the week.



A very evenly traded profile, which makes trades in the middle of the range problematic. But should be OK for fades at the extremes.



Thirteen points range yesterday. Overall not much to get excited about today.

Plan
- Waiting for a break
- Until that happens look to play off the weeks extremes as well as prior day range/value
- If we do break - look for a pullback to the current extremes for a continuation

Weekly Numbers

Range 2196.25 -> 2209.50
Value 2202.25-> 2207.75

Daily Numbers
Range 2196.25 -> 2209.50
Value 2202.50 -> 2209.50
Globex 2200.75-> 2208.75

Settlement – 2203.75

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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1st December

Letters to Santa, everyone...



We've popped the top and the bottom of the weeks range, so that leaves us still neutral. Volume was up yesterday and it was a down day overall, so it is worth looking for weakness off the open.



Same deal on the weekly profile - just showing range expansion and not much else.



The dailies do look more bearish but then again, we most likely looked bullish when we popped the top of the range.

Plan
- Neutral bias, although we are at the bottom of the range after a similar sized probe down to the probe through the top (as of now, the probe through the top was still larger)
- So off the open looking at the 2190-2194 area as a decision point and looking to go with a trade away from their in either direction. That of course may already be in progresss

Weekly Numbers
Range 2194.25 -> 2213.75
Value 2200-> 2207.75

Daily Numbers
Range 2197.75 -> 2213 / 2213.75
Value 2200 -> 2208.25
Globex 2194.25 -> 2201.75

Settlement – 2198.75

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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2nd December



Volume up, price down. As per previous preps, we've been looking for a test of the old highs. At this point we are looking for either:

1 - A bounce up which should see good participation as people will feel it validates these higher prices
2 - Market breaks down and reverts to the old range (target 2080-2100)



Upside be a bit wary as we move towards the upper distribution (with a low of 2195).



From a daily perspective, we are holding yesterdays low overnight, which could well be "the old high holding". So we could move up from here.

Plan
- Waiting for the 2183.75 area to be resolved.
- Will jump on any high participation long above 83.75
- For shorts, will wait for 84 to break
- wary above at 2195

Weekly Numbers
Range 2186 -> 2213.75
Value 2197.50 -> 2208

Daily Numbers
Range 2186 -> 2202 / 2203
Value 2186.75 -> 2196.75
Globex 2186.50 -> 2192

Settlement – 2192

Today only - 2195

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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Hmmmmmm - platform is down, my Ninja key has expired....

out of interest - for various reasons (mostly the way the ES is moving/playing off intraday activity), I was considering changing the log to Crude.

Any thoughts on that?

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Sounds good to me.

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 alias5 
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Let's go with crude. I'm in!

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 KBH80 
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Definitely more action there right now.

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Sounds good - I'll look to slowly switch into the New Year then!

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9th December

We are now moving to the March 2017 contract on the US index futures. We are also in the last few weeks of the year, a time where we often get a pop in the market up to the Christmas holiday period. Then the volume typically drops and we have an extremely low participation period through to the second week of January.

Our old levels for the December contract were here: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

To adjust for the new contract we drop these by 5.25 and end up with: 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

On the daily chart that looks about right...



In terms of the bigger picture, we finally broke above the highs towards the end of November but then we spent almost 2 weeks moving sideways. It was only when we came back to test the old highs and they held, that traders got the confidence to really participate to the upside.



This is much clearer on the shorter term chart. This is pretty common on the index futures. We break out but in the absence of solid macro economic news (like an interest rate cut), traders are a little shy about joining the break. The test shows us that the market can hold these prices and so it gives people confidence to get on board. From here we may move up or we could well test the 2208.50 area (yellow line) before driving up again. To the downside, I’d be very nervous holding a long position of the market holds below 2208.50.



We have 3 distributions on this weeks profile. Looking at this, we can see not much has traded from 2230 down to 2210. If we do slip below 2230, then we could make it back to 2210 very quickly. So today I’ll be looking for the market to hold 2230 and to play the downside if it doesn’t.



The 2230 area is also quite obvious on the daily profiles, in fact it’s really the only thing going on.

Plan
  • Biased upside
  • Pullbacks to 2230 and 2208.50 represent trades where we could get a large amount of upside participation as traders feel that the upside is more sure now there has held.
  • Other than that, looking for “go with” trades to the long side, jumping on long side momentum
  • The market is rolling over and so Friday and Monday may be quite lackluster
  • We don’t have that many potentially big days ahead of us. As we head into the 19th December, we have to be on the lookout for the market slowing down. Looking at the calendar it appears to work well. Friday of that week is the 23rd, so people will (in theory) be working right up to that date.

Weekly Numbers

Range 2173.50-> 2246
Value 2192.50 -> 2234

Daily Numbers

Range 2227.75-> 2231.50 / 2245
Value 2235 -> 2243
Globex 2239.75 -> 2243.50

Settlement – 2242.50

Other levels – 2230, 2208.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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Constitution day here in Thailand - so wife is insisting I take a vacation.

I'll fill her with wine and then sneak back on later

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13th December




Decent volume yesterday, just under 2 million contracts traded. We have a new level at 2208.50 - although it's not been tested yet and so it may be removed.



On a weekly basis, we have an upper distribution from last week that tops out around 2243, it's a bit tenuous but it's the closest level for a test.



Yesterdays low was 46.75, so not far off the 43 level. It was a slow afternoon and we've traded within yesterday overnight - so we do have the possibility of a range week here.

Going in, I'm biased upside. Ideally, I'd like to see us consolidate 2240-2270 as a base for moving up or drop down to restest 08.50. I'm not sure how many more active trading days we have left but we should at least be good for this week. As usual, I'm looking for a test to give us the most reliable move.

Plan
- Long bias
- looking at 2243, 2208.50 for a test to give us more upside participation
- looking also for overnight/developing daily levels to play off
- eyes out for volume drying

Weekly Numbers
Range 2173.50-> 2246
Value 2192.50 -> 2255.75
S1 - 2213.75, R1 - 2275.50

Daily Numbers
Range 2246.75-> 2259 / 2264.75
Value 2249.50 -> 2253.50
Globex 2247.75 -> 2257

Settlement – 2250.50

Other levels – 2208.50, 2243

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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14th December



FOMC day today so of course, that can throw our prep out - but here goes...

As expected we progressed upwards yesterday and as expected we went up, down and up again in the process! We found support at the prior days high, retested it again before we got the pop to new all time highs. So an eye on 47.25 today.



Not much to say about the weekly profile other than it's still worth keeping an eye on the 43 area.



We had a late pullback yesterday to 65.50 and that is holding overnight, so we could push up from here.

Plan
- As per yesterday, upward bias
- best trade will be long off a test (but 65.50 holding may be that test) - pereferably off one of our levels below
- FOMC does muddy the waters though
- I'm an AM trader, so plan is to see how the first 45 mins play out and if it's dead, give the day a pass

Weekly Numbers

Range 2173.50-> 2246
Value 2248.25 -> 2261.75
S1 - 2213.75, R1 - 2275.50

Daily Numbers
Range 2247.75 / 2259 -> 2273
Value 2263 -> 2270
Globex 2265.25 -> 2268.25

Settlement – 2273.25

Other levels – 2208.50, 2243, 2247.25, 2265.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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15th December



An interesting day today. We had FOMC yesterday and as expected rates went up. Now, you could say that the market reacted negatively but you could also say it was a typical post-FOMC knee jerk. In theory the rate increase was alreadyu expected and priced in.

But - there is the offchance that the technicals are irrelevant today that they we have a fundamentals driven day.



We are still above the upper distribution from last week, so that's still a reference point.



I think today is just a matter of one issue - will it be volatile or not. After a big day like that we could just sit in a range and that's what is happening overnight or it could put in a decent move. I think it's a coin toss as to which way any "decent move" will be.

Plan
So the plan today is simple. Watch for a high participation move and go with it, otherwise play the range. We do have good potential either way, or rather, we have the potential for people jumping on board whichever way it moves.

Weekly Numbers
Range 2143-> 2273
Value 2248 -> 2263.50
S1 - 2213.75, R1 - 2275.50

Daily Numbers
Range 2243 -> 2272.50
Value 2253 -> 2267.50
Globex 2248 -> 2257

Settlement – 2252.75

Other levels – 2208.50, 2243, 2247.25

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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I'm done for the year - got friends in town and then heading to the beach for a recharge.

Have a great New Year everyone.

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9th January



Volume is back, so I'm back to trading. 1.5 million contracts on Friday and it looks like we had decent volume last week from Tuesday onwards.



We have a range marked out from 2227.75-2273. So first thing I'm looking for today is for a failure at the top and for shorts to jump on that OR a continuation up and a retest of the top of the range. To the downside, looking at 2267.25 as the first hurdle and I'd rather take shorts below that. Certainly don't want to short into it.



We can see this higher activiy area on the weekly market profile. That tops out at 2265-2266.



And similarly on the daily profiles. It's not a lot of trade, just a downside area that traders could be looking at. So we do have an area below us where we ranged for a couple of days and the top or bottom of that could hold.

Plan
- Looking for either the range high to hold (what we have now may be just a probe up) and for shorts but not short into 2265-2267.25. Downside target on this would down to 2227.75 but not necessarily in one day.
- Looking for a decent move up and then a pullback towards the range high, obviously no hurdles in the way if we take the long trade but not many targets either.
- As it's my first day back, just looking to get back into the markets nice and easy. No rush to trade.

Weekly Numbers
Range 2139.50 -> 2277
Value 2249.50 -> 2266
S1 - 2248.50, R1 - 2286

Daily Numbers
Range 2258.25 -> 2277
Value 2265.75 -> 2277
Globex 2270 -> 2275.25

Settlement – 2271.50

Other levels – 2227.75, 2273 (range), 2265-2267.25

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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10th January



Well so much for "volume coming back". It was a low volume lackluster day yesterday, so really we are in the same position going into today that we were yesterday. Looking for continuation upwards after a break of the range (looking less likely) or a move to the range low (2227.75).



Looking at last week, we still have that major distribution which is holding, so hopefully if we can push down a little more, we may free up and start the move down to the range low.



As you can see if you look left on the daily profiles, there's a few days of sideways action from last week where we now sit.

Plan
- Low expectation day, could turn into a low expectation week
- Looking for a break of 2260 to potentially helps us on the road to 2227.75
- Will look for something close to the open as that might be all we get for today
- Obviously if volume comes in, I'll be looking to follow but really not many scenarios for the day on the table prior to the open. Going to have to be more reactive.

Weekly Numbers
Range 2139.50 -> 2277
Value 2249.50 -> 2266
S1 - 2248.50, R1 - 2286

Daily Numbers
Range 2263.50-> 2270.25 / 2275.25
Value 2264.50 -> 2269.25
Globex 2259.50 -> 2266

Settlement – 2265

Other levels – 2227.75, 2273, 2260

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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11th January



Still going nowhere. Volume a bit better yesterday but still on the low side. As usual when we get a range week, we are now waiting for a break and expecting poor action till it occurs.



We still haven't broken the high volume area from last week, and now that's the area we've spent the most time this week, so we still have a good chance of some nice downside action if that breaks.



Yesterday was a slow start but the range wasn't too bad in the end. We held the overnight low but it we didn't see much in terms of momentum till we cracked through.

Plan
- another low expectation day.
- looking for a break below the weeks low for downside participation
- possibility of decent upside momentum above 2266-2268, otherwise the upside is tricky in my opinion
- will look for an early trade again, and then look for a break of any range that forms

Weekly Numbers
Range 2159.50 -> 2275.25
Value 2260.75 -> 2268.75
S1 - 2248.50, R1 - 2286

Daily Numbers
Range 2259.50-> 2274
Value 2263.25 -> 2270.74
Globex 2259.74 -> 2265.50

Settlement – 2263.75

Other levels – 2227.75, 2273, 2260, 2266-68

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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12th Jan



Volume is up but we are still stuck in a tight range for the week. We did extend the weeks range to the downside but we couldn't hold it. So while we are in a greater range, as defined by the white square, the weeks range is defining the action.



With that in mind, most of the volume is in the 2260-2270 area, which is most likely not the best area to take a trade (except off the open). If we probe out of that area, I'll be looking for a sign it's holding.



A decent range yesterday, which is obviously a benefit. We were looking for a move below 2260 to potentially shake us out of this range but that didn't happen yet.

Plan
- No bias - we are in a range week, so probes out, heafakes etc are likely. We will break the range at some point but have no idea of knowing when.
- No trades in the 2260-2270 area as I'm expecting chop, will look for fades back to the range if we move out of it
- Exception to the 2260-2270 rule will be if we get a move off the open. Despite the big moves of the past 2 days, I'd still prefer to get something close to the open as range weeks can have some awful days....

Weekly Numbers
Range 2255 -> 2275.25
Value 2260.75 -> 2268.25
S1 - 2248.50, R1 - 2286

Daily Numbers
Range 2255 -> 2270.25
Value 2260.75 -> 2268.25
Globex 2260.75 -> 2271.75

Settlement – 2270.50

Other levels – 2227.75, 2273

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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17th January



Still moving sideways, so regardless of what is on the rest of the charts, the market is still stick in a narrow range and we are waiting to break that range.



Very typical of a range week - all the action focused in the middle. I don't see much worth looking at from the weekly volume profile. The value area has held yesterday (holiday) and so far today, so we'll keep an eye on that.



Once again, not much to look at. Obviously, yesterday was very light. I'm still looking at 60-70 as an area to steer clear of.

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range 2248.50 -> 2275.25
Value 2261 -> 226.50
S1 - 2256, R1 - 2281.50

Daily Numbers
- Not using this today because of the holiday

Settlement - Not using this today because of the holiday

Today only - 2260-2270 (avoid)

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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 IBLAB 
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DionysusToast View Post
17th January



Still moving sideways, so regardless of what is on the rest of the charts, the market is still stick in a narrow range and we are waiting to break that range.



Very typical of a range week - all the action focused in the middle. I don't see much worth looking at from the weekly volume profile. The value area has held yesterday (holiday) and so far today, so we'll keep an eye on that.



Once again, not much to look at. Obviously, yesterday was very light. I'm still looking at 60-70 as an area to steer clear of.

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range 2248.50 -> 2275.25
Value 2261 -> 226.50
S1 - 2256, R1 - 2281.50

Daily Numbers
- Not using this today because of the holiday

Settlement - Not using this today because of the holiday

Today only - 2260-2270 (avoid)

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5


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18th January



Still in the range - so still waiting for it to break and still looking for the early trade in case it's a snooze fest.



This weeks profile is going the way of last weeks - I'm still sticking with 60-70 as a no-go area unless it's off the open.



It was pretty narrow yesterday, the low of yesterday will be interesting as it's below 60 but I'm going to stay away from the high and value area today.



In terms of the early trade - the xxxx's here are what I always put up (manually) before the open - I just mark where the significant areas were on the overnight volume profile. You can see overnight high was 2276.50, overnight low was 2257.50 but the big concentration of volume built up from 61.75/63.00->64.50 (and a level on it's own at 65). The extremes of the high volume areas are good areas to engage soon after the open unless we open really far from them (as traders there are probably shaken out). We hit 64.50 about 3 mins after the open and went down to 60 - not a huge move by any measure. Obviously if you can catch something like that early on, there's less pressure to get involved with the chop that's likely to come along afterwards. Note that as we opened below 63 - that was also a reasonable short - so a short at 63 and 64.50 were thrown up, one of which worked well, the other of which failed but gave you plenty of time to get out without too much damage.

Hence - not wanting to engage between 60-70 UNLESS it's just after the open.

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers

Range 2248.50 -> 2275.25
Value 2261 -> 226.50
S1 - 2256, R1 - 2281.50

Daily Numbers
Range 2257.25 -> 2267.25
Value 2261.50 -> 2266.50
Globex 2261.25 -> 2268.50

Settlement – 2262.75


Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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19th January



Still in the range and the days aren't getting easier to trade. Still looking to trade early and clock off if it starts to chop around.



Whilst geometrically pleasing, the weekly profiles aren't ideal for trading. Once again, not looking to engage between 2060 and 2070 unless it's at the open.



We can see that yesterday was narrow but that we did have a 6 point move down off the open and then back up again. So the plan today is the same....

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range 2257.25 -> 2270.50
Value 2262.50 -> 2267.50
S1 - 2256, R1 - 2281.50

Daily Numbers
Range 22578.25 -> 2267.25 / 2268.50
Value 2262.25 -> 2265.25
Globex 2261.50 -> 2268.25

Settlement – 2266.50


Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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20th January



Still in the range, and still waiting for it to break. Perhaps President Trump will help us next week.....



We had a decent probe down yesterday, but we bounced back into the middle of the tight range. It's hard to see us making a break on a Friday, but I'll be tuning in for the first hour at least...

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range 2253 -> 2270.50
Value 2262.50 -> 2267.50
S1 - 2256, R1 - 2281.50

Daily Numbers
Range 22573 -> 2269.50
Value 2257-> 2265
Globex 2260.75 -> 2267.50

Settlement – 2261.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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24th January



Still in that range. There's no need for the weekly profiles today because it's just going to tell us the same thing. I guess we need something solid from Trump before we can move one way or the other. If he does manage to cut taxes to the extent he's implying, it's hard to see how that would not cause the market to move. Otherwise, it's a matter of the range itself causing a break - which will obviously be a tougher move to trade as it'll come from nowhere.



So for now - playing the range. Not engaging in the 2060-2070 area and looking for probes outside. We had a very good day yesterday in terms of the opening move. Friday was trickier with a move off the open, then chop, then a breakdown followed by more chop. So I'm sticking with trying to get something close to the open.

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range - 2251.75 -> 2267.50
Value 2258.75 -> 2263.25
S1 - 2255.25, R1 - 2275

Daily Numbers
Range 2251.75 -> 2267.50
Value 2254.75 -> 2261.75
Globex 2259.50 -> 2264.25

Settlement – 2262

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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25th January

Holy headfake, Batman. Something actually happened!



We did break out yesterday but from a big picture perspective, we haven't had much of a move outside the range. In addition, volume yesterday was pretty low. As it is - today is all about whether we can carry on up or if this is just a headfake and we'll fall back into the range. Low volume sort of favors the headfake but we get no points for guessing right anyway. My opinion - let it play out and jump in accordingly.



We know that we've been trading most in the 60-70 range, so I'm looking at the top of that to hold on a retrace. Of course, the market could shoot straight up, which would be nice. If it does come back, then I wouldn't want to be in a new short too close to 70 as that's really the line in the sand in my opinion.



The dailies show pretty much the same thing.

Plan
- Simple day - looking to see if we can stay out of the range
- any move up with volume will be a no brainer long
- moves down require a little more thought - if 2070 gets tested and holds, then that will be a great long trade as I think we'll see a lot of people jump on that
- if not, then back to the dull old range.
- still looking for something close to the open. If we do settle back into a range it's going to be a move down and then the potential for sideways action is very high

Weekly Numbers
Range - 2251.75 -> 2282.25
Value 2255 -> 2266.50
S1 - 2255.25, R1 - 2275

Daily Numbers
Range 2259.50 / 2262 -> 2280.50
Value 2266.25 -> 2280.25
Globex 2274.25-> 2282.25

Settlement – 2274.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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26th January



Onwards and upwards but not a lot of participation. I'd still like to see a pullback to 70 for a more decisive continuation up.



We are at new prices and apart from the 70 level, I don't see that much of interest below us. Obviously 2300 is a big number, so we need to pay attention there. I'm basically still waiting for participation to come in, so I'm looking for that more than any activity at a specific price level.

Plan
- Waiting for volume to come in and show us what the market wants to do
- obvious places would be 2270 or 2300
- as we are in new territory, I don't think we should take much notice of other prices between those levels - but just go with the volume, if there is any

Weekly Numbers
Range - 2251.75 -> 2299.50
Value 2252 -> 2281.40
S1 - 2255.25, R1 - 2275

Daily Numbers
Range 2274.25 / 2284.25 -> 2299.50
Value 2288 -> 2293
Globex 2291.75 -> 2299.50

Settlement – 2294

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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30th January



As we discussed last week, if we can test the high of the old range and start to push up, I think that gives us a good chance of a high participation move up. If not and we drop back into the range, I expect we'll spin around in the old range some more. Those are the 2 scenarios I'm looking at medium term.



If we do push up, beware as we approach 2288.25 as we have a big step there to the downside, there's not much trade all the way from here down to 65, so be careful long as there's not much holding this up.



Not much to add here, it's a small gap down today, so we could see a reaction upwards off the open. That may be just a rebalance of overnight activity.

Plan
- a 'go with' day - just go with whichever way it breaks
- will be more aggressive long if we hit 2270 first
- very careful on longs off the open as it might be a short term rebalance
- go with any volume to the short side down to 2265
- no longs too close to 2288.25

Weekly Numbers
Range - 2251.75 -> 2299.50
Value 2262.50 -> 2299.50
S1 - 2306.25, R1 - 2261.50

Daily Numbers
Range 2287 -> 2295.50 / 2296.75
Value 2288.25 -> 2290.75
Globex 2281 -> 2285.75

Settlement – 2289

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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1st February



On Monday we were looking for a test of the old range and we now have that - so we need to see some speculators jump on board long now. Upside has really good potential if people start reacting now.



On the weekly profile, we are sandwiched between 2 areas of high activity 2263/2288.25 - that & the fact that the lower high activity area has held does mean we have to consider the possibility of rangebound action within that range.



Not much to add from the dailies other than to watch out for the regular levels from yesterday trade. We've held the day session high, so a retest to there or value high is worth looking for.

Plan
- Mixed signals, we got the bounce we were looking for, looking to jump on the follow through. The weekly profiles look more rangebound
- looking to jump on any momentum to the upside but not too close to 88
- pullbacks to yesterdays reference points will be taken long
- looking to short 88 on a hold
- if we move down without hitting 88 first, will look to short a break of 62

Weekly Numbers
Range - 2262.25 -> 2285.75
Value 2264.25 -> 2277.25
S1 - 2306.25, R1 - 2261.50

Daily Numbers
Range 2262.25 -> 2275.25 / 2276.75
Value 2263.75 -> 2268.75
Globex 2275 -> 2281.50

Settlement – 2274.50

Today only - 2263, 2288.25

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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3rd Feb

Struggling to keep up here - realized the other night that the wife stuffed my "decaf tea box" with regular tea.... I've had almost 2 weeks of insomnia... at least I know why now...



I'm still working on the premise of a bounce off the old high bringing in some buyers once it becomes clear. It's not done that yet - but it's still one of my scenarios. Volume is descending into the end of the week.



On Wednesday we had


Quoting 
On the weekly profile, we are sandwiched between 2 areas of high activity 2263/2288.25 - that & the fact that the lower high activity area has held does mean we have to consider the possibility of rangebound action within that range.

And that seems to be playing out... Note the step in the weekly profile around 76.50.



Dailies show fairly narrow days within this range.

Plan
- Presume range 65-85 will stay intact but also look for shorts where the step is around 76.50
- look for headfakes on any break
- look for an early trade off any high volume areas from overnight

Weekly Numbers
Range - 2262.25 -> 2285.75
Value 2266 -> 2276.50
S1 - 2306.25, R1 - 2261.50

Daily Numbers
Range 2264.50 / 2266.75 -> 2279.75
Value 2271.25 -> 2276.25
Globex 2270.50 -> 2279.75

Settlement – 2275.50

Today only - 2263, 2288.25

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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6th February



We had a good push up on Friday, although most of it was overnight. We still haven't popped the high yet, so today is a simple day. Looking for signs of downside volume coming in on a failure or upside volume on a break.



Last week is showing a typical range week profile. We really need to stay above that 2283.50 or we are likely back to range bound behavior.



We have a few levels to watch today - Fridays high because we've held it so far which is 'fuel' for people to go short. Also Fridays day session low is just below the 2283.50 and so is also a line in the sand for shorts.

Plan
- At a decision point, looking to join volume either side (breakout or fail to break)
- Expecting range bound behavior below 2283/2283.50
- Obviously, on day like this watching for signs of lower volatility will scupper the plan, so an eye on the depth/avg volume/pace of trading

Weekly Numbers
Range - 2262.25 -> 2294
Value 2265.50 -> 2278.50
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2270.50 / 2283 -> 2294
Value 2289.75 -> 2293.75
Globex 2287.50-> 2293.50

Settlement – 2291

Today only - 2283/2283.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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7th February



Pretty indecisive day yesterday. We got a roll over off the highs but no volume. We then couldn't start working through the high volume area from last week.



We can see the step in the profile her at 2283.50 and that's a line in the sand and below there we expect range bound behavior as it's going back to the range from last week. We could in theory see buyers jump in, in size if we lift from here but I think it's fairly unlikely.



Yesterday was stuck pretty much in yesterdays range. As usual - with a week where Monday trades within Fridays range, we have to be on the lookout for a range week.

Plan

- After a slow start to the week, expecting a slow day - so looking for a trade off the open as that might me all we have
- looking for momentum upside as we have held 83.50 but not expecting much
- with low momentum, will look to fade any move to 94, hard to say where we should look to fade any moves down at some point, 84.50 seems obvious but I suspect that even if we have a range week, the range needs to expand a bit before we settle into it

Weekly Numbers
Range - 2262.25 -> 2294
Value 2265.50 -> 2278.50
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2283.50 -> 2291.50 / 2294.25
Value 2288.75 -> 2293.25
Globex 2284-> 2291.25

Settlement – 2290.25

Today only - 2283.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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8th January



Tough day yesterday but well within our expectations. The inside Monday leading to a range week. This does not have to last the whole week, we tend to build energy as we go along a tight range like this till we break. The challenge is to be alert when the break actually happens.



We are trading above the step in the profile from last week. with 2294 being where we taper off.



Just moving sideways. Note that yesterday we didn't get a good trade off the open but we did get a fade of 2294 as per the plan.

Plan
- as per yesterday, presume the range until further notice with extremes at 2294 and 2284
- despite yesterday, still looking for an early trade as it's still likely the best opportunity
- an eye out for a break of the range, especially upside which I feel has the most potential (downside is last weeks range)

Weekly Numbers
Range - 2283.50 -> 2295
Value 2285.50 -> 2291
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2283.75 / 2285.25 -> 2295
Value 2286.75 -> 2292.25
Globex 2284.25 -> 2291.25

Settlement – 2288.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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9th February



Still in that range. Getting late in the week and while Thursday is historically a good day to shake off a range week and pop. Of late though, we've just ploughed through range weeks right till Friday.



We can see the weeks value area is just 6 points. From this perspective it's shorts above 2292 and long below 2286. Hardly seems worth bothering...



Not much to say about this other than - it's moving sideways. We did have a flurry of activity when London opened today but that died out again.

Plan
- Look for an early trade off the open
- Be alert for a Thursday break of the weeks range
- other than that shorts above 92 and longs below 86

Weekly Numbers
Range - 2281 -> 2295
Value 2285.75 -> 2291.25
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2281 -> 2292
Value 2286.25 -> 2291.25
Globex 2287.75 -> 2292.25

Settlement – 2290.25

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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Well, that's something nice to wake up to!

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I'd advise anyone that does prep to share it with at least one other person because it really does help to know a peer is reviewing it.

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Congrats!!

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10th February



We were looking for a "Thursday break" yesterday and we got it. Today looking for signs of follow through, although over the past few months, this market hasn't been very good at following through.

As usual, I feel that we'll see more speculation to the upside if we fall back a little first. I'll be watching the 95.25 & 99.75 levels as they seem to be obvious areas for the market to fall back to.



If we look below, we can see we spent most time this week between 2285 and 2291.50, I'll be expecting slow range-bound action if we get back into that area.



Not much traded between 2295 and 2302 with the move up yesterday, so any move down could be quite fast. We did range after the move up yesterday and that upper range is holding so far overnight.

Plan
- Will follow any upside moves but will expect more from a trade if we can pull back first
- Will look to short below 2302 and expectation there is that we could move very quickly to 2295, so if we do break down I wont wait for a pullback
- below 2295, expecting slow rangebound action

Weekly Numbers
Range - 2281 -> 2309.50
Value 2285 -> 2292.50
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2287.75 / 2293 -> 2307.75
Value 2301.75-> 2307.75
Globex 2303 -> 2309.50

Settlement – 2304.25

Today Only - 2295.25 & 2299.75

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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13th February



Still looking for more upside and still would like to see a pullback to the top of the old range(s) to give us the best upside move. So looking at 2295-2299 for a pullback and if that fails, for us to carry on in the old range.



Also looking for a pullback to 2303.25. Below that, there's not much trade so also looking for a swift move down if 03.25 breaks.



We did hold 2312 late on Friday, while that's close it has held overnight. So again this is potentially an area we could move up from but I see it as lower probability. Also watching the usual levels today too.

Plan
- On a move down, watching for a hold to then bring in buyers - 2312 (low probability), 03.15 and 95-99
- On a move up without a downside test, go with but be aware for low participation
- Look to play a drop through 03.25 to the downside

Weekly Numbers
Range - 2281 -> 2315.75
Value 2284 -> 2294
S1 - 2290.75, R1 - 2325.50

Daily Numbers
Range 2303 / 2306.25 -> 2315.75
Value 2309.50 -> 2315
Globex 2313.25 -> 2318

Settlement – 2312.75

Today Only - 2295.25 & 2299.75, 2303.15, 2312

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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14th October



Market still up on low volume. No test to the downside, so not much participation to the upside. Or rather, not much excitement in the move up. Still long biased but expecting grind until we get a test. Still watching 95-99 below.



Still an eye on 03.25 below us and still expecting market to accelerate if that breaks to the downside.



Other that that, yesterdays prep would be fine for today. Nothing to see from the daily profiles.


Plan
- On a move down, watching for a hold to then bring in buyers - 2312 (low probability), 03.15 and 95-99
- On a move up without a downside test, go with but be aware oflow participation and a dull move
- Look to play a drop through 03.25 to the downside

Weekly Numbers
Range - 2281 -> 2315.75
Value 2284 -> 2294
S1 - 2290.75, R1 - 2325.50

Daily Numbers
Range 2313.25 / 2318.50 -> 2329
Value 2321-> 2326.50
Globex 2323.25 -> 2327.50

Settlement – 2326.25

Today Only - 2295.25 & 2299.75, 2303.15, 2312

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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15th February



A slight uptick in volume yesterday. We did finally get a move down and on the way up, we got decent participation to the upside and a better move. I'm in 2 minds about whether that's all we need in terms of a pullback, so today I just want to see how things develop.



Not too much to read into the weekly profile at this point - we do have an area of higher volume below us at 2327. Again, I feel I might be clutching at straws a little bit here though.



And if we look on the dailies, we can see here that the 27-28 area might be significant. We have been looking for a downside test but to a stronger level. We said we'd expect a stronger move up if that occurred. Now we've had a test to a weaker level and moved up strongly. So I'm a little wary of thinking this strong move up will carry on for a few days.

Plan
- Biased upside - but unsure whether we need a stronger downside test to keep long speculators comfortable
- Watching yesterdays levels (high/low/value) as well as 27-28 for a test
- No opinion on downside moves right now, not sure where to join them with the information available at this point

Weekly Numbers
Range - 2313.25 -> 2340
Value 2314.25 -> 2328.75
S1 - 2290.75, R1 - 2325.50

Daily Numbers
Range 2319.75 -> 2335.75
Value 2323.50 -> 2335.50
Globex 2334.25 -> 2340

Settlement – 2337

Today Only - 2295.25 & 2299.75, 2303.15, 2312

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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17th Feb

Feeling sick the past few days - giving trading a miss...

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DionysusToast View Post
17th Feb

Feeling sick the past few days - giving trading a miss...

Get well soon.

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Well - back at it - but it's now half term - so I'll be back Wed/Thu.

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23rd February



Volume still fairly light and the markets still heading upside although we've stalled the past few days. Got an eye on 2336 below if we do pull back. As before - this slow march up isn't going to attract a lot of speculative day trading in my opinion, not until we pull back or form a range.



Monday was a holiday and Tuesday/Wednesday built the upper distribution, so going into today our first scenario is that we continue to rotate around that.



And not much from the daily profiles to disagree with that assessment.

Plan
- Presume range week from the open - shorts above 2363, longs below 2355
- Look for an early trade off the open
- Play continuations on any break as long as there's no sign of a headfake

Looks like a fairly simple and unrewarding day ahead!

Weekly Numbers
Range - 2346-> 2365
Value 2353 -> 2363.50

Daily Numbers
Range 2355.25 / 2355.75 -> 2363.25 /2363.75
Value 2358.75 -> 2361.75
Globex 2359 -> 2363.75

Settlement – 2362.25

Today Only - 2355, 2363

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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24th February



Same deal - average volume, market moving sideways.



We are still rotating around the upper distribution and so we'll presume that's intact.



yesterday we had:


Quoting 
Presume range week from the open - shorts above 2363, longs below 2355

And we did probe through that range both sides yesterday, so whilst we don't want to be overconfident, we'll look for the same today.

Plan
- Presume range week from the open - shorts above 2363, longs below 2355
- Look for an early trade off the open
- Play continuations on any break as long as high volume & there's no sign of a headfake

Weekly Numbers
Range - 2346-> 2367.50
Value 2354.50 -> 2364.50

Daily Numbers
Range 2353 -> 2366.75 / 2367.50
Value 2358 -> 2364.50
Globex 2355.50 -> 2363.50

Settlement – 2362.75

Today Only - 2355, 2363

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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27th February



No great shock that we didn't break out on Friday. So today we have to assess whether or not we are falling back into last weeks range, putting in a move or just making a new range for this week.



We can see the big distribution from last week and we can say the bulk of trade was between 2355 and 2363.50 - although neither of those extremes should be considered 'precise'. Into the open, I'm looking for the market to stay above 63.50 and if not, expecting us to carry in in the 55-63.50 range.

If we can hold above, I'm looking for price progression upwards, otherwise expecting us to mark out another small range for the week.



Not much to say about the daily profile - a whole lot of sideways and a pop that needs to hold or not!

And we did probe through that range both sides yesterday, so whilst we don't want to be overconfident, we'll look for the same today.

Plan
- Look for a long on a test of 63.50
- if 63.50 doesn't hold - look for the 55-63.50 range to continue
- Take an early trade as it's still not looking like we have much volatility
- let the market play out if we move straight up, especially if volume is weak

Weekly Numbers
Range - 2346-> 2367.50
Value 2354 -> 2364.50
S1 - 2355.25, R1 - 2370.50

Daily Numbers
Range 2349.50 / 2351.50 -> 2365.75
Value 2355.50 -> 2360
Globex 2362.50 -> 2370

Settlement – 2365.25

Today Only - 2355, 2363.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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28th Feb

No trading today!


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I nearly bought tickets to the show! Had to fly to Bangkok and couldn't manage to get time off work, but half my friends are there. Hope you enjoy the show!

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ticktrooper View Post
I nearly bought tickets to the show! Had to fly to Bangkok and couldn't manage to get time off work, but half my friends are there. Hope you enjoy the show!

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It was a good show.

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1 March 2017



Decent volume yesterday and we've escaped the range - but only overnight. So first order of the day is whether we can hold these new prices into the day session.



We can see that we dropped into the range and have now popped out the top. Expectation in Mondays prep was that if we dropped below 63.50 - we'd end up ranging around 55-63.50.

We actually tested bottom of the range (well 57.50) and then back up to 64.50 in the day session.



And overnight we've spiked up to 74.50.

Plan
- Into the open - look for a snap back down, which may be just a re-balance after this pop up overnight OR it could be a rejection of the move up.
- If a re-balance, we should find support after an initial push down.
- If a rejection, we'll go back into the range.
- On the other hand if we move straight up with no downside move, I have no idea how that upside move will play out. So caution to the upside but trade to the long side if we move up off the open.
- A more confident long will come off a downside test (e.g a gap fill)

Weekly Numbers
Range - 2357.50-> 2375.50
Value 2363.25 -> 2368.75
S1 - 2355.25, R1 - 2370.50

Daily Numbers
Range 2357.50 -> 2367 / 2368.75
Value 2360.75 -> 2365.75
Globex 2361.50 -> 2375.50

Settlement – 2362.75

Today Only - 2355, 2363.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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2nd March



A nice move up last night with high volume.



Not much on the volume profile. Obviously not much has traded from 2370 to 2400. So it's going to be pretty easy to slip back to 2370.



This is interesting. We can see we found support at 2395 yesterday afternoon. Overnight that has turned into resistance. So as we go into today, I have an eye on 2395 as potential resistance and of course, we my have to consider that area 'tested'...

As we've had a good move up now, I'm hoping we can develop into a tradable 100 tick range. Let's be on the lookout for that over the coming days.

we are at prices we've not traded before, so there's not much to base decisions on other than the volume and trade balance. So quite happy to let the day develop before jumping in.

Plan
- after the open - look for a move down if we are still below 2395
- will look to short a test of 2395 after the open
- will take long trades but obviously very wary of the fact there's not much volume from here down to 2370
- we are at prices we've not traded before, so there's not much to base decisions on other than the volume and trade

Weekly Numbers
Range - 2357.50-> 2401
Value 2359.75 -> 2375.25
S1 - 2355.25, R1 - 2370.50

Daily Numbers
Range 2361.50 / 2381.25 -> 2401
Value 2390.50 -> 2401
Globex 2389.50 -> 2394

Settlement – 2393.50

Today Only - 2395

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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3rd March



Decent volume again and a pullback.

If you look at yesterdays prep, we noted both the resistance at 2395 as well as the likelihood of a drop to 2370 because of how little volume traded there.

We also mentioned the prospect of a larger tradeable range developing.

So for me, I'm not of the opinion that this is the start of a huge move down but I am hoping it's the beginnings of a larger range developing.

I have my eye on 2375 as being the potential high of any larger range as it's the top of the old Dec-Feb range we had.



We can see we've filled in the weekly profile a bit more. On any down move, I'd expect us to find at least temporary support at 2370.



We can see we didn't make it down to 2370. I'll be watching yesterdays levels for resistance as we open.

Plan
- neutral bias. Could go either way
- If we move up off the open, take longs but be wary of yesterdays range/value range for resistance
- If we move down be wary as we approach 2370 for support
- Other than that, follow the moves

Weekly Numbers
Range - 2357.50-> 2401
Value 2360 -> 2383.25
S1 - 2355.25, R1 - 2370.50

Daily Numbers
Range 2379.25 -> 2393 / 2394.25
Value 2383 -> 2388.50
Globex 2373.75 -> 2382

Settlement – 2382

Today Only - 2395, 2370

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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7th March



Market is pulling back. Not a lot and I'm still watching out for us to settle into a nice 100+ point range.

Trouble is - pullbacks have been very shallow of late, so it's be silly not to look for some closer levels as potential support. So I'm looking at 2355.50 and 2336.



We are also holding above the lower distribution from last week, 2368.50 area. So this also could be as low as we go.



Yesterday had a slightly higher close than open. Not really a lot going on there.

Plan
- Biased downside but looking at the potential that the bounce at 68.50 could be the end of the move.
- Volatility still low, so looking for an early trade and expecting chop
- If no open trade, then it's one of those 'wait and see' days, I don't have many scenarios going in

Weekly Numbers
Range - 2357.50-> 2401
Value 2381 -> 2359.75
S1 - 2359, R1 - 2402.50

Daily Numbers
Range 2367 -> 2378.25 / 2380.75
Value 2367.50 -> 2375
Globex 2379.50 -> 2375.50

Settlement – 2375.50

Today Only - 2336, 2355.50, 2368.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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8th March



A slow grind down. As per yesterdays prep, watch 55.50 on the way down.



We are now below the bulk of volume traded this week. So on the lookout for a hold at 68 if we move up.



Yesterday was quite a poor trading day. Expecting similar today

Plan
- low expectation day
- looking for early trades as it'll probably revert to chop after the open
- on the lookout for a reaction at 55.50 and 68

Weekly Numbers
Range - 2359.50-> 2380.75
Value 2368.25 -> 2375.75
S1 - 2359, R1 - 2402.50

Daily Numbers
Range 2364.50 -> 2374.75 / 2375.50
Value 2368 -> 2371.50
Globex 2359.50 -> 2367.75

Settlement – 2375.50

Today Only - 2336, 2355.50, 2368.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

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No Trading Thursday or Friday for me.

I don't trade the rollover and it's usually rolling for both the Thursday and Friday.

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13th March

Rolled into June contract, which is about 3.25pts below March.



Still looking at 2 scenarios
1 - Market finds support at a recent level (may have already happened)
2 - Market moves into a nice 100 point range

We may not get an answer till after the FOMC - rates are supposed to go up so we could start the week in a holding pattern till that happens.



Just one fat distribution last week. 2358.25-2373 are the extremes.



The daily profiles show the same thing. With overnight action in the middle of Fridays range, not the thing you want to see for a breakout.

Plan
- Expecting a tight range till FOMC
- looking to fade moves to 2373 and 3258.25
- Follow a break on extreme volume only

Weekly Numbers
Range - 2351 -> 2377.75
Value 2361.75 -> 2372.25
S1 - 2354.75, R1 - 2378.50

Daily Numbers
Range 2359 -> 2374 / 2376.25
Value 2363 -> 2370.50
Globex 2364.75 -> 2369.25

Settlement – 2367.50

Today Only - 2333.25, 2351.25, 2358.25, 2373

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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14th March



As expected Monday was lackluster with little movement.



We did trade up towards the high of last weeks distribution/value area - a point short of our 2373 level but close enough.



It does seem a long wan to the low of that area, so looking for more local action off the open (yesterdays levels).

Plan
- No bias, not expecting much until FOMC on Wed
- looking for continuation down towards the low of last weeks distribution to (2358.25)
- Will keep an eye out at yesterdays high/low for a bounce too - it's possible we'll have a really narrow day, in which case continuation is off the table.

Weekly Numbers
Range - 2351 -> 2377.75
Value 2361.75 -> 2372.25
S1 - 2354.75, R1 - 2378.50

Daily Numbers
Range 2364.75 / 2365.50 -> 2372
Value 2366.75 -> 2369.75
Globex 2366 -> 2371.75

Settlement – 2367

Today Only - 2333.25, 2351.25, 2358.25, 2373

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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15th March



Market held at the 51.50 level (were had 51.25 on our watch list). We can't read too much into that medium term because it's FOCM today and a likely rate hike. So we have to let that wash out first.



We dipped below the bottom of last weeks major distribution yesterday. Just a probe down, so our range is still intact. Looking to fade 2372 and 2359.25.



Still pretty narrow though in the day session - around 10 pts.

Plan
- FOMC day, so not expecting much in the AM
- will look for the range to continue but with the FOMC it's just not a predictable day

Weekly Numbers
Range - 2354.75 -> 2372
Value 2364 -> 2371
S1 - 2354.75, R1 - 2378.50

Daily Numbers
Range 2354.75 -> 2365.50 / 2371.75
Value 2358.75 -> 2362.75
Globex 2362.50 -> 2370.25

Settlement – 2369

Today Only - 2333.25, 2351.25, 2358.25, 2373

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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16th March



A nice pop up on the FOMC. First order of today - are we going to keep it? If we look left, we are close to the all time highs and a rejection there would leave us potentially in a narrow range 2351.75-2400.

A break upside would give us the clearest picture. To the downside, it appears we'll have chop - but let's see how it plays out after FOMC now we got a rate hike.



Below us most trade occured this week at 71 and below. So if we do pullback to that level, I'll be watching for a reaction.



On the daily charts, we can see that we found resistance at 2374.50 before breaking upside. So eyes on that too.

Plan
- Fundamentals have changed with an interest rate hike, so not expecting the market to act too technically
- If it does act technically, I'll consider the rate hike reaction to be done
- watching 2400 upside for a new range to develop
- watching 2371, 2374 for a reaction
- will let the market play this hike out before doing too much

Weekly Numbers
Range - 2354.75 -> 2388.75
Value 2359.50 -> 2372
S1 - 2354.75, R1 - 2378.50

Daily Numbers
Range 2362.50 / 2365.75 -> 2387.75
Value 2367 -> 2380.50
Globex 2377.75 -> 2388.75

Settlement – 2386.50

Today Only - 2351.75-2400., 2371, 2374.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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17th March



A pretty flat day yesterday, so no 'resolution' after the FOMC.



We are building volume from 2375.50-> 2387, so watching the extremes as that builds out.



Yesterday we were watching 71 & 74.50, we got down to 73.50 and then stuck in a tight range, mostly between 74.50 and 78. We've stayed in that range overnight, so eyes on that into the open.

Plan
- Absolutely no bias at all.
- bigger picture watching for a range 2350-2400
- near term watching 74.50->2380 and then 2387
- low expectation overall

The plan is "there is no plan"

Weekly Numbers
Range - 2354.75 -> 2388.75
Value 2357-> 2378
S1 - 2354.75, R1 - 2378.50

Daily Numbers
Range 2374.50 -> 2384.50 / 2388.75
Value 2367 -> 2380.50
Globex 2375.25 -> 2388.75

Settlement – 2377.25

Today Only - 2351.75-2400., 2371, 2374.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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Isn't today Quadruple Witching day?

Any significance?
https://www.zerohedge.com/news/2017-03-16/theres-14-trillion-reasons-why-tomorrows-quad-witch-could-matter

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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20th March



I'm on the lookout for us developing to a range. Looking at 2351.50-2398 potentially.



We have 2 distributions from last week, I have my eye on the outer extremes of both of those distributions, 2366 & 2380.75.



On the daily profiles, we appear to be in a move down.

Plan
- Watching for a range 51.50-98.
- Also watching 66 & 80.75 within that for a bounce
- No real bias going into today but will follow any moves down
- Will also look to short a retracement up to yesterdays low/value area

Weekly Numbers
Range - 2354.75 -> 2388.75
Value 2357-> 2378.50
S1 - 2357.25, R1 - 2390.25

Daily Numbers
Range 2372.75 -> 2382
Value 2375.50 -> 2380
Globex 2368.75 -> 2374.75

Settlement – 2371.25

Today Only - 2351.50-2398, 2366-2380.75

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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21 March



Volatility is gradually reducing, not what we want to see. So now I am without bias and waiting for something to wake the market up.



There's not much to read from the weekly profiles, so we won't bother. The dailies here aren't helping much either, other than confirming lack of direction

Plan
- No bias, low expectation day
- look for a trade off the open and the extremes from yesterdays prep
- look for any levels that develop intraday and the breaks of any ranges that form

Weekly Numbers
Range - 2354.75 -> 2388.75
Value 2357-> 2378.50
S1 - 2357.25, R1 - 2390.25

Daily Numbers
Range 2365.50 -> 2376
Value 2369.50 -> 2374.50
Globex 2368 -> 2376.75

Settlement – 2370.25

Today Only - 2351.50-2398, 2366-2380.75

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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22nd March

"The sky is falling", "Market loses confidence in Trumps plan", "a 5% stock market correction is coming"...

Funny how the financial press didn't mention any of this impending doom yesterday morning. Today they are all reporting financial armageddon.

Bottom line is they've not had that much to say for a while as the markets have been flat. Now it's moved, they need to squeeze the most 'news juice' out of it.

If you want to trade today well - you really need to tune that all out.



Regardless of where we are headed, the move we put in yesterday was about on par for the days we were seeing in September, early October last year. It was not a massive sell off by any means. We did see a lot of absorption yesterday by bidders and the market was just driving straight through them. So it does look more like longer term players.



We have broken through our 'presumed range' (so much for that!). Where we got down to so far is the 33.50 level, a minor support area from mid-Feb. We have another at 2297, which is also minor/untested.

Below that is the range we were stuck in at the start of the year which tops out at 2269.75. So I have mu eye on those 3 areas for a reaction.

No daily/weekly profiles today as I don't think they'll have much meaning after that big drop.

Plan
- No early trades, let the market show it's hand
- Jump on board any signs of a sell off and try to scale into a trade
- Careful to the upside unless we have massive volume. I think the upside will be safer if we can move up for a decent amount of time.

Weekly Numbers
Range - 2332.25 -> 2378.75
Value 2344.50-> 2378.50
S1 - 2357.25, R1 - 2390.25

Daily Numbers

Range 2338 -> 2378.75
Value - not used today
Globex 2332.25 -> 2341.75

Settlement – 2342.25

Today Only - 2269.75. 2297, 2333.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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23rd March



Well- the sky seems to have taken a break from falling... We've bounced up for now but the market will still be feeling the sting from the drop. So on any break down, we have a very good chance of sellers piling in again.



Since the drop, we've been trading around 33.50-> 48.75. So first order of the day is seeing if we'll break that. It's then 'fresh air' all the way from here to 2369. So we could see a pop upside from here.



There's not much to take from the daily profiles.

Plan
- No bias going into today
- not interested in trades in the middle of the 33.50-48.75 range
- looking for shorts below 33.50 and longs above 48.75
- if not break - will also be looking to fade these levels back into the range

Weekly Numbers
Range - 2332.25 -> 2378.75
Value 2342-> 2378.50
S1 - 2357.25, R1 - 2390.25

Daily Numbers
Range 2332.25 / 2332.75 -> 2348.75
Value - 2338.75 -> 2346.75
Globex 2341.50 -> 2349.50

Settlement – 2348

Today Only - 2333.50, 2348.75

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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28th March



A few scenarios I'm considering medium term. In other words - waiting for a range to form, so we can trade it.



To the upside, I'm watching 49.25. If we can break that we could see a swift move up to 2369.



From a daily perspective, we do have chop above us.

All in all - not much there to give us a strong bias but it does have the appearance of the push through that top range being rejected.

Plan
- No bias - a wait and see day
- Will play longs above yesterdays range with caution at 49.25
- Will follow any short side momentum only if there is overwhelming volume

Weekly Numbers
Range - 2331.75 -> 2378.75
Value 2342-> 2351.50
S1 - 2324.75, R1 - 2371.75

Daily Numbers

Range 2317.75 / 23155 -> 2341.50
Value - 2328.50 -> 2340.50
Globex 2338.25 -> 2344

Settlement – 2338.50

Today Only - 2349.25, 2369

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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29th March



Another 'hard to call' day in my opinion. On the one hand, it does look like we are struggling to make headway into the upper range (top white shaded area). I just need a bit more move up to be confident to play the range (up to 2400 and back down). If we do hit 2400, we'll probably need to adjust the bottom of our range area.



Not much from the profile other that it tends to confirm the move up. We need to hold this upper distribution in the US session when real volume comes in, so eyes on 51 if it doesn't break before 9:30am EST.



Looking left here, I wouldn't be at all surprised if we ranged 2318-2360. So that's another potential scenario to look out for.

Plan
- Long biased, will switch to short if we see downside volume trading below 51
- Volatility has been decent the past few days (albeit after a slow start), so no hurry to engage early

Weekly Numbers
Range - 2317.75 -> 2360.50
Value 2321.25 -> 2343.75
S1 - 2324.75, R1 - 2371.75

Daily Numbers

Range 2333.50 -> 2360.50
Value - 2341.75 -> 2360.25
Globex 2340.75 -> 2356.75

Settlement – 2351.50

Today Only - 2350

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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 DanielTrader 
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DionysusToast View Post
29th March


Plan
- Long biased, will switch to short if we see downside volume trading below 51
- Volatility has been decent the past few days (albeit after a slow start), so no hurry to engage early

Weekly Numbers
Range - 2317.75 -> 2360.50
Value 2321.25 -> 2343.75
S1 - 2324.75, R1 - 2371.75

Daily Numbers

Range 2333.50 -> 2360.50
Value - 2341.75 -> 2360.25
Globex 2340.75 -> 2356.75

Settlement – 2351.50

Today Only - 2350

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75


Peter, first of all thank you for sharing your DT pre market prep. It's being of a great value. Please tell me about the calculations for the weekly and daily value area. seems to me you use va calculations through volume 70%, am i right? did you ever used this va calculation through tpo's? what do you say about both calculations?

Thanks!
Daniel

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DanielTrader View Post
Peter, first of all thank you for sharing your DT pre market prep. It's being of a great value. Please tell me about the calculations for the weekly and daily value area. seems to me you use va calculations through volume 70%, am i right? did you ever used this va calculation through tpo's? what do you say about both calculations?

Thanks!
Daniel

On the profile charts, you can see pink and black 'brackets'. The pink are time/TPO based value areas and black are volume based.

I use Time based, they are usually about the same anyway and to me a 2-3 point variance on a level holding is fine.

I took a course from Dalton many years ago and I sort of just stuck with it, I think both ways are fine.

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30th March



Volume was really low yesterday, we did close higher but I don't see that really as confirming the long bias I had, we mostly moved sideways.



The weekly profile is bullish but we are in danger of ranging 2351-2359.50, so watch that area for a fade as we go.



We are holding yesterdays value area overnight (53.50), so an eye on that into the open.

Plan
- Eyes on volume into the open - if it stays low, look to fade moves
- No continuation trades between 51 and 59.50 but do look for 53.50 to hold
- If we break out from the 51-59.50 area - look for a headfake and take a continuation only on decent volume

Weekly Numbers
Range - 2317.75 -> 2362.50
Value 2335-> 2362.50
S1 - 2324.75, R1 - 2371.75

Daily Numbers
Range 2348.75-> 2359.75
Value - 2353.50 -> 2358.50
Globex 2353.50 -> 2362.50

Settlement – 2357

Today Only - 2351-2359.50, 2353.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75

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No prep today - bought a new car, so going out to do laps of the city center with the stereo on full blast....

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No prep today - bought a new car, so going out to do laps of the city center with the stereo on full blast....



Send us some pictures!


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Still working on a name for her - just known as "Little Sister" for now... just hope big brother doesn't get jealous...

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