Daily trading advisory

[arturo1]

Daily Trading Advisory 09-november-2007

Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.com thanks.

DAILY TRADING ADVISORY 09 -November – 2007

ECONOMIC CALENDAR
8:30 AM Export Prices
8:30 AM Import Prices
8:30 AM Trade Balance
10:00 AM Michigan sentiment-preliminary

What it looked to be another bloody session as the indexes plunged during the first half of the day, pushing the EMINI SP futures down by 25 points, the NASDAQ futures by 100 and the DOW by more than 250 points, ended with a reaction rally that boosted the market to pare almost all of its intraday losses.

I can attribute this recovering rally to many factors such as short term oversold conditions as the VIX.X climbed by more than 28% between Wednesday and yesterday, bottom fishing on the financial stocks, and a precise test of the 61.8 Fibonacci retracement from the rally initiated in August to the all time highs.

After a higher opening on the EMINI SP futures that popped up to 1486.00 the index was sold testing 1472.00 during the first half hour of the trading session. After coming back to print a double top on the charts and with notorious selling from institution the way to go was clear. The index plunged 32 points from its daily high reaching the 1454.00 area by the middle of the session. After a feeble rebound the index went back to prove the lows and as they held the index rallied back just bellow its opening price from where it dropped 9 points to close with a small loss.

There was a volume spike but I am not sure if that is enough to end this first move down but we can have one or two days of consolidation.

Yesterday’s rally seems to be a “dead cat bounce” in an obvious change in direction that already has taking place on the markets , and the NASDAQ futures finally joined the other indexes. The DOW CASH rebounded from its long term trendline and a break through this line could start another strong round of selling again.

While another test of the lows could be on the horizon, the picture shows me that some kind of range has been formed and this move down has to been consolidate during the next sessions.. If the market opens flat, or we see a little bit of rally at the beginning of the session and that takes the EMINI SP futures to 1484.00-1485.50 and the EMINI NASDAQ futures to 2136.00-2137.00 and the move stalls, be ready to sell, as those areas were heavily sold yesterday, if the market goes beyond these levels, the next hurdles are 1489.00-1490.00 on the EMINI SP futures and 2144.00-2146.00 on the EMINI NASDAQ futures, if those are exceeded a test of 1493.00-1495.00 on the EMINI SP futures and 2151.00-2153.00 on the EMINI NASDAQ futures should be in the cards before we start falling once more.

Initial support is at 1472.00-1470.00 on the EMINI SP futures and 2098.00-2096.00 on the EMINI NASDAQ futures. Those MUST hold if the markets are OK, but if not, a test of 1464.00-1462.00 on the EMINI SP futures and 2087.00-2086.00 on the EMINI NASDAQ futures that are KEY SUPPORT could bring another sharp short covering rally. If those are sliced through, yesterday lows at 1456.00-1454.00 on the EMINI SP futures and 2068.00-2066.00 on the EMINI NASDAQ futures are the only real support before dropping to the 1440.00-1436.00 area on the EMINI SP futures.
TODAY SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ
Resistance 3 1493.00-1495.00 2151.00-2153.00
Resistance 2 1489.00-1490.00 2144.00-2146.00
Resistance 1 1484.00-1485.50 2136.00-2137.00
PIVOT 1473.50 2125.25
Support 1 1472.00-1470.00 2098.00-2096.00
Support 2 1464.00-1462.00 2087.00-2086.00
Support 3 1456.00-1454.00 2068.00-2066.00










S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1531.44 2276.00
1516.88 2238.21
1491.00 2180.00
1477.25 2144.67
1463.13 2112.44
1454.00 2081.00
1434.16 2034.89
1415.00 1989.23


Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

DAILY TRADING ADVISORY 12 November 2007

Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.comthanks.

DAILY TRADING ADVISORY 12 -November – 2007

WEEKLY PIVOTS FOR WEEK ENDING 16-NOVEMBER-2007

R3 1577.50
R2 1551.50
R1 1495.75
PP 1477.50
S1 1448.25
S2 1434.25
S3 1414.00

ECONOMIC CALENDAR
NONE

The market gapped down at the opening and a feeble bounce to 1462.00 was sold as sellers hammered the EMINI NASDAQ futures since the beginning of the session. After testing Thursday's low at 1454.00 the EMINI SP futures turned up and rally back to place a double top at 1462.00 where sellers stepped back in and once more forced the index down. A double bottom at 1454.75 resulted in a short covering rally that reached the 1468.00 area, but the failure of the NASDAQ to join the rally was met with selling from institutions and locals who drove the index to a new daily low at 1452.00. Back and forth action with and upside bias took prices up to 1470.50 on the EMINI SP futures and 2077.00 on the EMINI NASDAQ futures where the move was rejected.. This was just at our first support area that acted as resistance and where our intraday update called to go short with stops above 1472.00.After testing once more the 1462.00 zone the market got its foot going and rallied to new highs at 1477.75, then during the last 30 minutes of trading, and after making a high at 1478.50 on the EMINI SP futures and 2088.00 on the EMINI NASDAQ futures the indexes were punched strongly as the EMINI SP felt 23 points to 1454.25 and the EMINI NASDAQ plunged 51 point from its daily high to a new low at 2037.25,"knock out" .
As I note on my Friday's report "Yesterday's rally seems to be a "dead cat bounce" in an obvious change in direction that already has taking place on the markets , and the NASDAQ futures finally joined the other indexes. "
Once more after the market made its lows on Friday's session, complacency was seen as buyers brought the EMINI SP futures back up to an intraday high before the last heavy round of selling. On my Friday's report I wrote "While another test of the lows could be on the horizon, the picture shows me that some kind of range has been formed and this move down has to been consolidate during the next sessions."
The weak closing on the EMINI NASDAQ futures was just at the 31.8 retracement between the MARCH 2007 low at 1700.00 and the high at 2260.00, but that does not mean it will hold this level, I personally don't trust this support.
My subscribers have to remember that just after the Fed started this new cycle of rate reductions, I wrote that interest rate reductions will come with lower prices in the market, and it is not very difficult to get to this conclusion, lower rates comes as a result of slower expansion on the economy, and that means lower profits for the companies. But this cycle has another key factor, and that is high inflation and dramatic loss of equity as a result of the housing bubble blast. If you open a multi year SP chart you will see that this rally started in the year 2002 as the FED started to increase rates, and the next cycle will have the contrary behavior.
This week we have option expiration, so the volatility should continue to be part of the game.
Friday's close is just at the support areas on all the indexes, and this can be resolve: a) with a correction that starts at or bellow Friday's settlements for a one to four days countertrend rally; or b) panic selling that will bring the indexes to test its August lows. My personal opinion is that we are in front of a deeper correction, but I don't eliminate the possibility of a relief rally which can start from a consolidation at the lows or as a reaction from the next strong support area around 1434.00, that will match the DOW CASH testing the 12800 KEY SUPPORT area.
We have initial resistance at 1462.25-1464.00 on the EMINI SP futures and 2059.00-2061.00 on the EMINI NASDAQ futures, if those are not a problem we should go for the 1468.50-1471.00level on the EMINI SP futures and 2067.00-2069.00 on the EMINI NASDAQ futures, and if those are exceeded, Friday's late session highs at 1477.50-1478.50 on the EMINI SP futures and 2088.00-2090.00 on the EMINI NASDAQ futures should act as a wall.
First support area is at 1452.00-1449.75 on the EMINI SP futures and 2025.00-2023.50 on the EMINI NASDAQ futures, if those are sliced, the next "MUST HOLD" support is at 1444.50-1442.00 on the EMINI SP futures and 2014.00-2012.50 on the EMINI NASDAQ futures. If those can not hold the selling heaviness a test of 1434.50-1433.50 on the EMINI SP futures and 2000.50-1988.75 on the EMINI NASDAQ futures will be seen today.GOOD LUCK


Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory 13 November 2005

Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.comthanks

DAILY TRADING ADVISORY 13 -November – 2007

ECONOMIC CALENDAR

10:00 AM Pending Home Sales
10:00 AM Treasury Budget

Despite the holiday’s low volume session, yesterday was a very volatile day for the markets. After a flat opening on the EMINI SP futures, the index set back to 1450.50, just at our support area where the move was rejected and rallied to our first resistance area at 1462.00. Sellers stepped in and pushed the index down to 1452.50. This low was bought and the EMINI SP futures rally to new highs at 1468.50. The index went down to test its intraday dynamic support at 1462.50 and rallied to new highs at 1469.25, just at our resistance area (our support and resistance points worked very nice yesterday’s session). The weakness on the NASDAQ took its toll on the other indexes, despite the effort seen on the EMINI SP futures which held the first pullback above 1453.00 and rallied back to 1462.50, the bears took control of the markets and in the same way as Friday’s session took the markets to new lows before the closing. The EMINI SP futures made its way down to 1439.50 and the EMINI NASDAQ futures to 1986.50.

I wrote yesterday that “complacency was seen as buyers brought the EMINI SP futures back up to an intraday high before the last heavy round of selling”, and yesterday was a copy of Friday’s session, selling, a rally to new highs and a huge sell off that finish on the day’s lows but without panic and volume.

During the night the markets has been holding nicely after making new nightly lows, and as yesterday I expect these lows to be reached during the day.

The VIX.X jumped yesterday another 10% so we are close to a reflex rally to work out some oversold conditions. The DOW CASH closed just bellow its long term trend line but not sufficiently to indicate that it has been broken yet and it is fighting to stay close to the 13000 level.

I have been writing about the importance of the 1434.00 area on the EMINI SP futures and I am not sure if it will hold when tested, but if it does, it has to be joined by the EMINI NASDAQ futures that has been (was) the leading force on the rally that started on August 16.

As everyday we have been hearing about the problems in the financial sector, investors start to get used to it, so I wouldn’t be surprised to see some bargain hunters looking to buy the bottom. If all this mixed bag of oversold conditions, KEY SUPPORT areas and option expiration week does not bring at least some kind of consolidation, then things are really bad and we will have to wait for a capitulation move with high trading volume.
This last two days of trading, where the indexes held during the day but sold off during the last hour of the session making new lows will be resolved with another wide range day down or a downside test that shows a reversal to the upside and then struggles to consolidate this big move down.

We have initial resistance at 1454.75 -1456.50 on the EMINI SP futures and 2007.50-2009.50 on the EMINI NASDAQ futures, if those are reached early in the session be ready for a reverse to the downside as they could set up a shorting opportunity that bring the markets to test yesterday’s lows or reach the 1434.00 area on the EMINI SP futures. If those levels are not sold, then 1460.00-1462.00 on the EMINI SP futures and 2020.00-2022.50 on the EMINI NASDAQ futures will be the next obstacle. Friday and yesterday we saw a 26-28 points sell off from the daily highs to the lows, so if today the market repeats the same pattern, selling in those areas could be the trade of the day with the 1434.00 acting as a magnet. If those levels are not sold, the a test of yesterdays highs at 1468.50-1471.00 on the EMINI SP futures and 2038.00-2040.00 on the EMINI NASDAQ futures could be seen before the downtrend resumes.

If the market opens on a weak note, be ready for a reversal from the 1435.50-1434.50 area on the EMINI SP futures and 1985.00-1983.50 on the EMINI NASDAQ futures,, this area on the NASDAQ is the 50% retracement from the yearly highs to the March 2007 lows; these are KEY SUPPORT POINTS and if those don’t hold 1430.00-1429.25 on the EMINI SP futures and 1973.00-1971.50 on the EMINI NASDAQ futures should offer good support. If those are not reverse immediately a panic selling move could take the EMINI SP futures to the 1419.75-1418.00 area and 1955.25.-1953.75 on the EMINI NASDAQ futures. GOOD LUCK
TODAY SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ
Resistance 3 1468.50-1471.00 2038.00-2040.00
Resistance 2 1460.00-1462.00 2020.00-2022.50
Resistance 1 1454.75-1456.50 2007.50-2009.50
PIVOT 1449.50 2009.25
Support 1 1435.50-1434.00 1985.00-1983.50
Support 2 1430.00-1439.25 1973.00-1971.50
Support 3 1419.75-1418.00 1955.25-1953.75



S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1498.50 2114.62
1486.33 2088.56
1469.25 2051.75
1456.96 2026.24
1449.40 2010.73
1437.25 1986.50
1420.83 1944.18
1409.75 1921.25




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com

 

[arturo1]

Daily Trading Advisory 14 November 2007

Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.comthanks


DAILY TRADING ADVISORY 15 -November – 2007

ECONOMIC CALENDAR

8:30 AM CPI
8:30 AM Core CPI
8:30 AM Initial Claims
8:30 AM NY Empire State index
12:00 PM Philadelphia Fed

Another higher opening on the EMINI SP futures at 1494.50 reached exactly our resistance area at 1496.00-1497.00 before been rejected. The printed high on the charts was at 1496.50 on the EMINI SP futures and 2101.50 on the EMINI NASDAQ futures.

The extremely overbought conditions that the market left from Tuesday’s huge rally were too much for yesterday’s action. After making the highs, the EMINI SP futures pulled back during the first hour to 1485.50, while the NASDAQ futures gave back 25 points from its high. A feeble bounce brought the EMINI SP futures back to test the 1492.00 resistance area before turning down. I wrote yesterday:” if the market is showing strength and another opening gap, it should be a good shorting opportunity, if this plays out, the first pullback should be bought”; we got exactly what we were looking for the early action.

The 1485.50-1483.75 held nicely the middle day pullback and the index rallied back to 1493.50 reluctant to give back any of Tuesday’s big gains. This was my updated resistance on my SP REAL TIME TRADING SERVICE where I wrote to my subscribers” The EMINI SP futures is sitting here right at my resistance, the more time it holds, higher the chances of another shot to the daily highs, but if it start to show some weakness another wave of selling could come into the markets. If you want to get short again this is the area with stops above 1494.50.” The index made a few attempts to break above the 1493.50 but powerless to do so and taking advantage of a very light volume, traders pushed the EMINI SP futures 21 points down during the last hour of trading making a low at 1470.00, while the EMINI NASDAQ futures had another wild range day and fell from its daily high at 2101.75 to a low at 2037.00. Both indexes came back after the cash market closed and settle well above fair value.

The market felt heavy during yesterday’s session when it was trading near the highs, and regardless of a quiet day, professional option traders were bidding overvalued prices for December puts, which makes me think that the market is ready for another shake, especially after the weakness seen on the EMINI NASDAQ at the end of the session.

Yesterdays’s opening on the S&P 500 cash index, was the high of the day, and by been reversed keeps open the possibility of some kind of top. I don’t reject the possibility of another test at or near yesterday’s high, but I suspect that any rally will converge with selling pressure and consolidate the previous eight day move to the downside. The move on the EMINI NASDAQ futures has been more dramatic as the index gave back during four days 280 points from the 440 that gain from the August lows to its highs near the 2260 level. If this is all that the index can advance after the fast downtrend, then we will see another low. Tuesday’s sharp retracement from the lows, far from being a positive sign, is typical of a reaction in a down-trend.

We have initial resistance at 1583.00-1484.50 on the EMINI SP futures and 2069.00-2071.00 on the EMINI NASDAQ futures. If the market is strong, those areas should be sliced easily without offering any resistance, if this is the case, very strong resistance will be seen at 1491.50-1493.25 on the EMINI SP futures and 2076.00-2078.00 on the EMINI NASDAQ futures. If the market gets over those a double top at yesterday’s high at 1496.75-1498.00 on the EMINI SP futures and 2092.00-2093.00 must be all that this market could advance if the downtrend is still intact.

Initial support is just beneath yesterday’s close at 1476.00-1475.50 on the EMINI SP futures and 2047.00-2045.75 on the EMINI NASDAQ futures, if those get broken, a test of yesterday’s low on the EMINI SP futures at 1470.50-1469.50 and 2040.00-2038.50 “must hold”, if not we can see the indexes trading at 1464.50-1463.25 and 2024.25-2022.00 respectively. If those areas don’t hold, only at 1454.75-1453.75 on the EMINI SP futures some buying interest could show. GOOD LUCK

TODAY SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ
Resistance 3 1496.75-1498.50 2092.00-2093.50
Resistance 2 1491.50-1493.25 2076.00-2078.00
Resistance 1 1483.00-1484.50 2069.00-2071.00
PIVOT 1480.75 2063.50
Support 1 1476.00-1475.50 2047.27-2045.75
Support 2 1470.50-1469.50 2040.00-2038.50
Support 3 1464.50-1463.25 2024.25-2022.00



S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1513.28 2141.76
1503.97 2119.23
1496.50 2101.75
1483.25 2061.73
1476.25 2052.28
1470.00 2037.00
1462.77 2019.51
1453.41 1996.85



Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

DAILY TRADING ADVISORY 16 -November – 2007

Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.com thanks


DAILY TRADING ADVISORY 16 -November – 2007

ECONOMIC CALENDAR
9:15 AM Industrial Production
9:15 AM Capacity Utilization

WEEKLY BULLS AND BEARS SENTIMENT
BULLS 51%
BEARS 34%

The market opened lower at our first support at 1469.75. After making a low at 1466.00 and with the EMINI NASDAQ getting must of the upside momentum, the EMINI SP turned higher and reached 1472.50. Two additional tests at the 1467.00 held nicely and the index rallied to the 1474.50 area. Another setback to the 1469.50 area was bought and the EMINI SP futures got to 1477.00. The sluggishness and the low volume couldn’t define and early trend and the mixed action between the EMINI NASDAQ and the other indexes made difficult to take any trading decisions.
The weakness on the EMINI RUSSEL was notorious during all the session and when the EMINI NASDAQ futures was unable to trade above settlement, and the EMINI SP futures made a secondary high at 1475.75 the move to the downside was defined. The EMINI SP reached our downside objective at 1463.50 printing a low at 1462.50 while the EMINI NASDAQ tested Wednesday’s lows at 2037.00. Another rally took the EMINI SP futures back to 1469.75 and the EMINI RUSSEL to 777.80; just bellow our updated resistance, unable to break above those levels, another visit to the lows printed a marginal new low on the EMINI SP futures at 1460.75. Another feeble bounce took the EMINI SP futures back to 1465.50 just to be driven again to new lows bellow our objective at 1447.00 while the EMINI NASDAQ printed 2015.50 on the charts. A very nice short covering rally took the indexes back up to settle once more above fair value.
The follow through to the downside shows that the indexes are in a weak position, and the low trading volumes does not show yet a capitulation move. It is difficult to believe that the huge move down won’t be consolidated for another day or two, but without and increase in volume the markets should continue with this down trend.
We have the gaps left from this week and it looks that they will be filled before another countertrend rally could be seen.
I wrote yesterday about the higher bids for December puts that were taking place on the CME floor, and even in different circumstances this can be interpreted as a bullish sign, this time does not match a low in the markets. Our weekly “Bulls and Bears Sentiment Index” reflects the lack of fear and complacency present in the markets even at these levels.
On the other side, a successful test of Tuesday’s lows could be the initial step for a seasonal rally, but honestly I don’t think this is the current situation. The way the EMINI SP futures is moving down is indicating that the index could break the 1430 area and probably also the 1423, and if this happens, it will be unusual not to trade near the August lows. But the EMINI SP futures can turn positive if it gets back above the 1473.50 level, the same is true for the EMINI NASDAQ futures above 2065.00 and 786.00 on the EMINI RUSSELL futures, otherwise every rally should be seen as a shorting opportunity until there is a spike on the volume. The best scenario would be another few days of consolidation.
Today, we have the November option expiration. I personally don’t like to trade expiration days because they are usually very erratic, so I recommend reducing the size of your position.
We have initial resistance at the pivot areas at 1461.75 on the EMINI SP futures and 2037.50 on the EMINI NASDAQ futures, if the market goes through these levels, pull back bellow and trades once more above them, buyers could step in and reach the next resistance at 1465.75-1466.50 on the EMINI SP futures and 2046.50-2047.50 on the EMINI NASDAQ futures. If those are reached and exceeded, then 1469.50-1470.00 on the EMINI SP futures and 2056.00-2057.50 on the EMINI NASDAQ are the next hurdles. Be ready for a reversal from these levels, but if they hold then 1474.50-1475.00 on the EMINI SP futures and 2064.00-2066.00 will be traded before the markets run out of gas.
Initial support is at 1455.25-1454.75 on the EMINI SP futures and 2024.75-2023.00 on the EMINI NASDAQ futures, bellow we have good support at 1449.75-1448.25 on the EMINI SP futures and 2009.00-2007.00 on the EMINI NASDAQ futures. If those not hold the INDEXES will be closing the Tuesday’s gap reaching lows at 1438.50-1437.00 and 1993.00-1991.00 respectively. Keep in mind that is very unusual to see a trend day on an option expiration day. GOOD LUCK

TODAY SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ
Resistance 3 1474.50-1475.50 2064.00-2066.00
Resistance 2 1469.50-1470.50 2056.00-2057.50
Resistance 1 1465.75-1466.50 2046.50-2047.50
PIVOT 1461.75 2037.50
Support 1 1455.25-1454.75 2024.75-2023.00
Support 2 1449.75-1448.25 2009.00-2007.00
Support 3 1438.50-1437.50 1993.00-1991.00




S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1499.36 2088.40
1477.00 2063.50
1496.50 2044.23
1462.28 2033.34
1447.00 2015.50
1438.90 2002.94
1428.44 1986.67
1408.60 1967.50


Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE]

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 19 -November – 2007

WEEKLY PIVOTS FOR WEEK ENDING 23-NOVEMBER-2007

R3 1508.50
R2 1493.00
R1 1471.25
PP 1464.75
S1 1443.75
S2 1433.50
S3 1408.50

ECONOMIC CALENDAR

10:00 AM Leading Indicators

Friday’s session was another consolidation day and a non event for options writers and buyers. After a higher opening at 1465.75-1466.50 the EMINI SP futures were sold just bellow our resistance area. In a two side action session the index fell to our support levels at 1449.75-1448.50 printing on the charts the low for the session at 1447.50. The move was rejected and the index rallied back to 1458.00. A pullback to 1451.50 was bought and the index rallied to new highs for the session reaching 1466.75. Two hour of forth and back action between 1465.00 and 1457.50 stamped a double top and lower high where sellers stepped back in driving the index to test its daily lows. At 1:30 PM, and after fighting to maintain the index above 1450.00 the bulls gain the battle and the index got back to 1464.00 and closed with a small gain.
The action on the EMINI NASDAQ futures was quite different as expanded ranges continue to be characteristic on its behavior. The EMINI NASDAQ futures fell from 2048.00 to 2014.00 and rallied back to 2070.75 closing with moderate strong gains.
Despite the strong support seen on the EMINI SP futures around the 1448.00 area, it’s unlikely to be the last low for this down move. The reaction from obvious support has been also present on the EMINI RUSSELL futures around 762.50-759.00 and on the EMINI DOW futures just above the 13070 level.
In all this down move it won’t be unusual to see further distribution above the lows; also this week I expect the volumes to remain very light, but all the time that the support levels mentioned above can hold the ideal set up for the expected break of the lows will be a little bit of upside bias or a gradual correction in to the long weekend. My readers have to remember that this is a fast down trend and the resumption of the trend; in my opinion it only allows a 1-4 days countertrend.
There is also the possibility that the index could decline and move straight down from this level; there is a low at 1437.00 made during last Monday night session that will have to be reached.
I want to keep a close eye on the EMINI RUSSELL because its support is crucial for the performance that the EMINI SP futures can have while trading at the current price. This index has been the weakest and has been preceding the daily moves on the EMINI SP futures; moreover, if the EMINI NASDAQ futures renew its fast down trend reaching the 1423.00 level on the EMINI SP futures and the 12850-12800 on the EMINI DOW futures could be a nice objective for this leg down.
We have initial resistance at 1463.50-1465.50 on the EMINI SP futures and 2062.50-2063.75 on the EMINI NASDAQ futures, the market has to be real strong to break and hold these levels on a pullback to be out of danger, if those are broken a test of the 1468.75-1470.00 on the EMINI SP futures and 2078.25-2080.50 on the EMINI NASDAQ futures could offer a good shorting opportunity; but if the holiday spirit is among traders, the EMINI NASDAQ futures could go for last week highs in the 2091.50-2093.50 area matching 1477.50-1478.50 on the EMINI SP futures.
If the indexes trade or open lower near initial support at 1454.50-1453.50 on the EMINI SP futures and 2045.50-2043.00 on the EMINI NASDAQ futures, and this happens during the first hour, it could set up a nice long entry, but, if those are broken, a test of the lows at 1449.50-1448.25 on the EMINI SP futures and 2031.50-2029.50 is imminent and “MUST” hold if the market has a chance of a quiet week, but if not, selling panic will take the EMINI SP futures to the 1439.75-1438.50 area and 2001.50-1999.50 on the EMINI NASDAQ futures.
I have a few petitions from some of our readers, to include support, pivot and resistance levels for the EMINI RUSSELL futures. I love to trade the EMINI RUSSELL, but my readers have to remember that the slippage is higher than in the other indexes. I also recommend not to be under capitalized if you are planning to trade the Russie. GOOD LUCK


TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1477.50-1478.50 2091.50-2093.00 782.20-784.00
Resistance 2 1468.75-1470.50 2078.25-2080.50 775.80-776.90
Resistance 1 1463.75-1465.50 2062.50-2063.75 770.50-771.50
PIVOT 1458.25 2043.50 768.70
Support 1 1454.50-1453.50 2045.50-2043.50 761.10-759.90
Support 2 1449.50-1448.25 2031.50-2029.50 756.50-755.50
Support 3 1439.75-1438.50 2001.50-1999.50 748.30-746.20


S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1487.92 2103.66
1477.43 2088.64
1466.75 2060.75
1453.23 2038.12
1447.50 2014.00
1436.44 1988.74
1428.23 1963.07
1418.90 1939.67




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com







Dear friends: Starting last Monday I am publishing my DAILY TRADING ADVISORY on a one day delayed basis.The reason for this change, is my committment to honor my paying subscribers who also get the intraday updates, with a 100% exclusively service. Beside this,a snapshot of my DAILY TRADING ADVISORY will appear every day on Futures Magazine. I want to thanks all of you for reading my work and all of you who has follow me every day.I specially thanks those who have decided to join my service. I also recognize with gratitude to all the staff at www.trade2win.com thanks

 

[arturo1]

Daily Trading Advisory 20 November 2007

[DAILY TRADING ADVISORY 20 -November – 2007

ECONOMIC CALENDAR

8:30 AM Building Permits
8:30 AM Housing Starts
2:00 PM FOMC Minutes

The market opened down guided by the Citicorp downgrade. After testing our support area at 1449.50-1448.25, the EMINI SP futures rallied back to 1454.50 where the move was rejected and sellers stepped in driving the index down to last Friday lows at 1447.50. A “non gusto” bounce got the index back above 1451.00 just to be crushed and pushed down closing last week gap at 1440.00 and reaching last Monday night session lows at 1437.75. After reaching the lows a volatile rebound took the EMINI SP futures back to 1445.00 while the EMINI NASDAQ reached the 2040.00 but, unable to trade above its 2043.50 pivot, and just before the release of the National Association of Home Builders data, the indexes pulled back to their lows and sliced through them in their way to the low 30’s.
After making a low at 1433.50 the EMINI SP futures rallied back to 1440.00 where the selling pressure came back and forced prices back down where a double bottom attracted buyers carrying the index to 1447.50, the short covering rally lost its steam and in a step stair move tested back the “KEY SUPPORT AREA” that has been built around the 1440.00 level. Unable to rebound the index broke bellow it and posted a higher low on the intraday chart closing at 1437.50; once more above fair value.
The EMINI SP futures lost 22 points; the EMINI NASDAQ lost 28 points, the Russell 15.80 and the YM ($5.00 Dow Jones futures) more than 190.The cash indexes suffer bigger percentage losses, Citicorp losses 6% and what we get, a market that closes above fair value, a VIX.X that increases only 2% during the session, low option prices, low selling volumes and happy people without fear.
The EMINI SP futures reached yesterday our weekly support level (support 2), the daily low was 1433.50, and our indicated support was 1433.50. The weekly support, pivot and resistance areas are much more important that the daily ones, and if the index can hold yesterday’s low, and the DOW CASH comes back above the psychological 13000 level on a sturdy way, then we can rally in to the holiday.
In the same way, the EMINI RUSSELL futures finally broke the 760.00 support area which held nicely since the August 16 lows. I wrote yesterday: “There is also the possibility that the index could decline and move straight down from this level; there is a low at 1437.00 made during last Monday night session that will have to be reached. I want to keep a close eye on the EMINI RUSSELL because its support is crucial for the performance that the EMINI SP futures can have while trading at the current price. This index has been the weakest and has been preceding the daily moves on the EMINI SP futures”.
Yesterday’s sentiment should produce a temporary low if we get a downside spike, the ideal objective would be around 1421.00, but if there is no follow through, the EMINI SP will consolidate this down move with an upside bias in to a distribution pattern that can take the index back to the 1480.00 during the next 3-6 days. Getting to the 1421.00 level and not holding will open the possibility of a test of August lows. The momentum is quite bearish, so I am confident that this downtrend will continue.
The huge move seen on the EMINI NASDAQ futures and the way that it reacted to last week spike to the downside could bring a consolidation period as the fall has been too fast and too large.
Today we get the Building Permits and Housing Starts data, and then later in the day we get the FOMC minutes (from the October meeting). So despite that the volume will be cut by half, expect wild swings.
If the market opens higher as it looks at the time that I am writing my report, wait for the move to stall and entry short with tight stops, especially around the 1455.00 area, this level should hold and a 10-16 points pullback could be seen. If the markets want to sustain a short term upside bias, the first pullback should be bought.
We have initial resistance at 1449.50-1451.25 on the EMINI SP futures and 2054.50-2056.25 on the EMINI NASDAQ futures, if the market looks OK, those should not be and obstacle, and if broken 1455.50-1457.50 on the EMINI SP futures and 2068.75-2070.50 on the EMINI NASDAQ futures should be reached. Those areas could be a good set up for a short entry. But if those are penetrated then 1463.50-1464.75 and2078.25-2081.50 respectively is all I see in this preholiday session.
First support area is just above yesterday’s lows at 1435.50-1433.50 on the EMINI SP futures and 2015.00-2014.00 on the EMINI NASDAQ futures. If those are reached during the first hour of trading and hold, we can see an uptrend move that holds until the FOMC minutes are released, but if the market does not react from those, a test of 1426.75-1425.50 on the EMINI SP futures and 2001.00-1998.75 on the EMINI NASDAQ futures could be in the cards before buyers decide to step in. If those are finally broken a panic selling move, should drive the EMINI SP futures to my downside objective for this leg down at 1420.25 -1419.00 and the EMINI NASDAQ to a test of the November 13 low at 1989.00-1987.00.

This is my last update for this week; I’ll be back next Monday with my “DAILY TRADING ADVISORY”.
Those who have joined our FREE TRIAL and already receive 15-17 issues, this is your last Real Time updated newsletter, I invite you all to join our subscription service and be informed with the BEST DAILY TRADING ROADMAP for the EMINI SP, NASDAQ and RUSSELL indexes. If you want to keep checking our accuracy you will be receiving the “DAILY TRADING ADVISORY” on a one day delayed basis until you are fully convince about the quality of our services.
I wish you all and all your families a WONDERFUL THANKSGIVING HOLIDAY. GOOD LUCK.




TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1463.50-1464.75 2078.25-2081.50 769.50-770.70
Resistance 2 1455.50-1457.50 2068.75-2070.50 763.50-764.20
Resistance 1 1449.50-1451.25 2054.50-2056.25 758.90-760.70
PIVOT 1443.50 2036.00 754.20
Support 1 1435.50-1533.50 2015.00-2014.00 750.00-749.10
Support 2 1426.75-1425.50 2001.00-1998.75 742.00-740.70
Support 3 1420.25-1419.00 1989.00-1987.00 733.60-732.00


S&P FIBBONACCI NUMBERS NASDAQ FIBONNACCI NUMBERS
1481.25 2109.90
1463.22 2085.92
1455.50 2060.75
1444.86 2038.68
1433.25 2016.25
1416.56 1989.34
1403.07 1971.00
1386.59 1943.28



Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory 23 November 2007

DAILY TRADING ADVISORY 23 NOVEMBER 2007

This is a one day delayed report. Get your DAILY TRADING ADVISORY at www.theminitrade.com

LAST TUESDAY SESSION
After a strong night session that pushed the indexes higher before the opening bell, and despite the housing data that came out as expected, the indexes gave up their earnings before the kick off. After a flat opening players boosted the EMINI SP futures to 1452.50, a four point pullback was bought and the EMINI SP futures rallied to 1456.50 while the EMINI NASDAQ printed the 2073.00 on the charts and the EMINI RUSSELL futures got as high as 759.30.I wrote yesterday:” 1455.50-1457.50 on the EMINI SP futures and 2068.75-2070.50 on the EMINI NASDAQ futures should be reached. Those areas could be a good set up for a short entry”, I also broadcast an update for my EMINI SP REAL TIME subscribers that says “This has been a strong rally but resistance has been working well for the EMINI RUSSELL futures this can change if it trades above 760.70. My resistance levels have worked also just fine for the EMINI SP futures at 1455.50-1457.50, this area is good for a short entry with tight stops”. These highs were strongly rejected and once the market broke bellow the pivot points, buyers run out to the exit. On a steady decline the EMINI SP futures drop to the Monday’s low at 1527.50 while the EMINI RUSSELL futures collapsed to its August lows at 736.70. The release of the FOMC minutes pushed the indexes back up to 1438.00 on the EMINI SP futures and 748.00 on the EMINI RUSSELL futures. Once more selling came in and with the help of the EMINI NASDAQ futures the EMINI SP reached 1422.00.On Mondays report I refer to this 1422.00 level as my downside objective for this leg down:” the 1423.00 level on the EMINI SP futures and the 12850-12800 on the EMINI DOW futures could be a nice objective for this leg down.” Yesterday I wrote:” sentiment should produce a temporary low if we get a downside spike, the ideal objective would be around 1421.00”. After making this low the market traded on a volatile way but after breaking my updated resistance at 1438.50 the index rallied back just bellow the 1450.00.
CONCLUSION: All the indexes retreated to levels not seen since the middle of August, but they reversed strongly to the upside late in the session and closed higher for the day.
LAST WENEDSDAY SESSION
The market gapped down at the opening and struggled during the first hour to hold the previous support area at 1426.00-1427.00 on the EMINI SP futures. After a weak rally to 1434.25 on the EMINI SP futures and 2024.00 on the EMINI NASDAQ futures, sellers came in and turned the indexes down. The EMINI SP futures reached 1418.25 as the EMINI NASDAQ futures met the November 12 lows around 1492.00. The double bottom seen on the NQ was bought and the indexes rallied in to the middle of the day getting as high as 1438.50 on the EMINI SP futures and 2043.00 on the EMINI NASDAQ futures. The EMINI RUSSELL showed very strong support on the 737.50 area and rallied all the way back to 750.70.Once more, the EMINI SP futures pulled back to the 1427.00 area which was bought and a steady rally took the index to a marginal new high. The indexes showed weakness and the rally failed as the double tops were met with strong intraday selling pace droving the EMINI SP futures to a new low at 1417.00 and the EMINI NASDAQ futures and EMINI RUSSELL futures near to the daily lows. The EMINI NASDAQ futures is still holding its range area but the triangle is getting tighter, and the consolidation at the lows could indicate a down break during the next week. This break could lead all the indexes to a test of the August lows.
CONCLUSION: Unable to show a pre THANKSGIVING DAY rally all the indexes closed at their lows indicating some kind of exhaustion. Last time that the closing prices were at the lows the markets improved during the next session. Today’s volume was 42% above the average of the last three months. Although the DOW CASH has broken bellow its long term trend line, 12800 has shown support during the year, and probably will try to get back to the 13000 benchmark.




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 26 -November – 2007

WEEKLY PIVOTS FOR WEEK ENDING 30-NOVEMBER-2007

R3 1514.75
R2 1490.25
R1 1466.00
PP 1441.50
S1 1417.50
S2 1392.75
S3 1368.75

ECONOMIC CALENDAR
NONE
I apologize for the extension of this report as a brief description of the past trading sessions that I did not posted my report last week are included.
LAST TUESDAY SESSION
After a strong night session that pushed the indexes higher before the opening bell, and despite the housing data that came out as expected, the indexes gave up their earnings before the kick off. After a flat opening players boosted the EMINI SP futures to 1452.50, a four point pullback was bought and the EMINI SP futures rallied to 1456.50 while the EMINI NASDAQ printed the 2073.00 on the charts and the EMINI RUSSELL futures got as high as 759.30.I wrote yesterday:” 1455.50-1457.50 on the EMINI SP futures and 2068.75-2070.50 on the EMINI NASDAQ futures should be reached. Those areas could be a good set up for a short entry”, I also broadcast an update for my EMINI SP REAL TIME subscribers that says “This has been a strong rally but resistance has been working well for the EMINI RUSSELL futures this can change if it trades above 760.70. My resistance levels have worked also just fine for the EMINI SP futures at 1455.50-1457.50, this area is good for a short entry with tight stops”. These highs were strongly rejected and once the market broke bellow the pivot points, buyers run out to the exit. On a steady decline the EMINI SP futures drop to the Monday’s low at 1527.50 while the EMINI RUSSELL futures collapsed to its August lows at 736.70. The release of the FOMC minutes pushed the indexes back up to 1438.00 on the EMINI SP futures and 748.00 on the EMINI RUSSELL futures. Once more selling came in and with the help of the EMINI NASDAQ futures the EMINI SP reached 1422.00.On Mondays report I refer to this 1422.00 level as my downside objective for this leg down:” the 1423.00 level on the EMINI SP futures and the 12850-12800 on the EMINI DOW futures could be a nice objective for this leg down.” Yesterday I wrote:” sentiment should produce a temporary low if we get a downside spike, the ideal objective would be around 1421.00”. After making this low the market traded on a volatile way but after breaking my updated resistance at 1438.50 the index rallied back just bellow the 1450.00.
CONCLUSION: All the indexes retreated to levels not seen since the middle of August, but they reversed strongly to the upside late in the session and closed higher for the day.
LAST WENEDSDAY SESSION
The market gapped down at the opening and struggled during the first hour to hold the previous support area at 1426.00-1427.00 on the EMINI SP futures. After a weak rally to 1434.25 on the EMINI SP futures and 2024.00 on the EMINI NASDAQ futures, sellers came in and turned the indexes down. The EMINI SP futures reached 1418.25 as the EMINI NASDAQ futures met the November 12 lows around 1492.00. The double bottom seen on the NQ was bought and the indexes rallied in to the middle of the day getting as high as 1438.50 on the EMINI SP futures and 2043.00 on the EMINI NASDAQ futures. The EMINI RUSSELL showed very strong support on the 737.50 area and rallied all the way back to 750.70.Once more, the EMINI SP futures pulled back to the 1427.00 area which was bought and a steady rally took the index to a marginal new high. The indexes showed weakness and the rally failed as the double tops were met with strong intraday selling pace droving the EMINI SP futures to a new low at 1417.00 and the EMINI NASDAQ futures and EMINI RUSSELL futures near to the daily lows. The EMINI NASDAQ futures is still holding its range area but the triangle is getting tighter, and the consolidation at the lows could indicate a down break during the next week. This break could lead all the indexes to a test of the August lows.
CONCLUSION: Unable to show a pre THANKSGIVING DAY rally all the indexes closed at their lows indicating some kind of exhaustion. Last time that the closing prices were at the lows the markets improved during the next session. Today’s volume was 42% above the average of the last three months. Although the DOW CASH has broken bellow its long term trend line, 12800 has shown support during the year, and probably will try to get back to the 13000 benchmark.
LAST FRIDAY SESSION AND TODAY’S DAILY TRADING ADVISORY
As I wrote on my personal trading diary, Wednesday’s close at the lows showed some extremely oversold and exhaustion for the last leg down. The EMINI SP futures as all the other indexes gapped up at the opening and rally all Friday’s session on an up trend day. It won’t be unusual to see a 1-4 countertrend move before the downside strong move pick up once again, and I presume that the trapped shorts at Wednesday’s lows and bottom fishers could end the gas on the tank faster than that. The EMINI RUSSELL futures showed a robust bounce from its support at 737.50 and the EMINI NASDAQ futures remains range bounded.
Friday’s close above the 1440.00 on the EMINI SP futures looks like a turning point for the markets, but don’t get distract, the downtrend has not ended yet and there is still a risk of a crash.
For those holding a medium term short position, the EMINI SP futures should be able to reach at least the August lows before a second degree correction (7-11 days) rally starts. Short term snap backs or impulsive and parabolic rallies that seems to be the real thing, are common in a down trend, and the size of this rebound from the 1417.00 low on the EMINI SP futures and the 737.00 level on the EMINI RUSSELL futures should dictate the extension of the next move down.
The previous rally was 55 points, and adding 55 points to the 1417.00 low on the EMINI SP futures take us to the 1472.00 area, so if this is a 1-4 days countertrend rally it should not exceed this level and could be a great set up for a +-100 points drop taking the index down to the August lows around the 1370 level.
For today, and early pop that reaches the 1455.00-1456.25 area on the EMINI SP futures should be sold for a 12-16 points pullback, and if the market is in good shape buyers must step in around Friday’s settlement.
We have initial resistance at 1449.25-1451.25 on the EMINI SP futures and 2035.00-2037.00 on the EMINI NASDAQ futures, if the market opens above those areas the early move should get reversed at 1455.00-1456.25 on the EMINI SP futures and 2049.00-2050.00 on the EMINI NASDAQ futures. If those can not hold we could see the 1460.50-1462.50 on the EMINI SP futures and 2073.00-2075.50on the EMINI NASDAQ futures. Above those levels, look for the rally to fail around 1468.50-1470.00 on the EMINI SP futures.
We have initial support just above our pivot at 1438.00-1437.00 on the EMINI SP futures and 2015.00-2013.75 on the EMINI NASDAQ futures. Those “MUST” hold if the counter tend move will be longer than 1 and a half day, but if those are busted, especially after the first two hours of trading, then the upside move could be over, and the next good support areas are at 1429.00-1427.50 on the EMINI SP futures and 1996.50-1995.00 on the EMINI NASDAQ futures should be reached. If the move doesn’t get reversed from these lows the last support areas are at 1417.00-1416.00 on the EMINI SP futures and 1986.50-1984.00 on the EMINI NASDAQ futures. GOOD LUCK
NOTE: In an additional effort to offer the best trading tools for our friends and clients, in the coming days we are going to add a new tool: DAILY PROJECTED HIGH AND LOW for the EMINI SP, NASDAQ and RUSSELL, a KEY projection numbers for traders, wait for this surprise.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1460.00-1462.50 2073.00-2075.50 769.70-771.50
Resistance 2 1455.00-1456.25 2049.00-2050.00 764.80-765.70
Resistance 1 1449.25-1451.25 2035.00-2037.00 757.10-759.20
PIVOT 1436.50 2028.50 752.50
Support 1 1438.00-1437.00 2015.00-2013.75 750.80-748.60
Support 2 1429.00-1427.50 1996.50-1995.00 742.30-741.50
Support 3 1417.00-1416.00 1986.50-1984.00 735.10-734.30




S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1486.07 2086.19 798.78
1479.93 2079.06 793.32
1470.00 2067.50 784.50
1460.07 2055.94 775.68
1453.93 2048.81 770.22
1444.00 2037.25 761.40
1434.07 2025.69 752.58
1431.00 2022.13 749.85
1427.93 2018.56 747.12
1418.00 2007.00 738.30
1408.07 1995.44 729.48
1401.93 1988.31 724.02
1392.00 1976.75 715.20
1382.07 1965.19 706.38
1375.93 1958.06 700.92











Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 27 -November – 2007
ECONOMIC CALENDAR
10:00 AM Consumer Confidence
After trading sharply higher on yesterday’s night session the EMINI SP futures opened almost flat and fell to 1439.50 where buyers stepped in. On a steady rally that appeared with sufficient strength to reach the 1454.25 Globex highs, the EMINI SP futures were rejected at 1449.25, just at our first resistance area at 1449.25-1451.25 while the EMINI RUSSELL futures printed its high at 759.70 just half point above our resistance. The lack of economic data gave the players the chance to jump in at the resistance areas and punch the EMINI SP futures to a low at 1432.25 while the EMINI NASDAQ futures reached the 2021.00 area. This low on the EMINI SP futures was just bellow the 50% Fibonacci retracement from the Wednesday’s lows and yesterday’s highs. That high also coincided with the 23.6% retracement from the 1558.25 October 31 high to the 1417.00 November 21 low. After making a 1-2-3 bottom the EMINI SP futures rallied back to 1441.75 where confusion between traders about the market direction stopped the bounce. One hour of back and forth action between 1441.75 and 1437.50 was resolved to the downside carrying the EMINI SP futures to new lows at 1429.75 just above our support area. A huge volume was traded at those lows between bears and bulls on the 1430.00-1432.00 area. Finally the markets gave up and the selling pressure drove the indexes to new lows as the EMINI SP futures printed 1406.75 on the chart while the EMINI RUSSELL futures broke bellow the 737.00 area and the EMINI NASDAQ tested the lower band of the range.
Yesterday I wrote: “We have initial support just above our pivot at 1438.00-1437.00 on the EMINI SP futures and 2015.00-2013.75 on the EMINI NASDAQ futures. Those “MUST” hold if the counter tend move will be longer than 1 and a half day, but if those are busted, especially after the first two hours of trading, then the upside move could be over”. Friday’s close above the 1440.00 on the EMINI SP futures looks like a turning point for the markets, but don’t get distract, the downtrend has not ended yet and there is still a risk of a crash. “
Friday’s reversal day, without follow trough usually indicate that the trend will resume in a powerful way. The volume was not so high to indicate that a capitulation has taking place.
The VIX.X has formed a triangle that has to be defined during the next 1-3 sessions and the market technical circumstances point to an increase on its value as no fear was seen on this huge move down. Furthermore, a bearish triangle has been formed on the NASDAQ 100 CASH and on the QQQ, and it looks that it’s going to break down.
The EMINI SP futures are testing the downward sloping line, and a marginal break or a false brake followed by a two day rally could indicate a temporary low. There is some nightly news about a new rescue for Citicorp and that may bring some relief but that does not eliminate the weakness on the economy and the fears of recession, it’s just a consolidation of yesterdays down move.
For today, we have initial resistance just above our pivot levels at 1422.00-1423.00 on the EMINI SP futures and 2016.00-2018.00 on the EMINI NASDAQ futures, if the market wants to consolidate yesterday’s down move those should not offer too much resistance, if exceeded, the next hurdles are 1430.50-1432.75 on the EMINI SP futures and 2030.00-2032.25, a lot of longs are trapped on those levels and should be hard to break above them, but if those are violated and hold on a pullback the KEY TURNING POINT area on the EMINI SP futures at 1440.00-1441.50 and 2040.50-2043.50 on the EMINI NASDAQ futures.
You have to remember that reversal days without follow through is a clear indication that the trend will resume, and during the last days all the reversals to the upside has not been more that short covering rallies, so unless we have a move that sticks the way is down.
Initial support is around yesterday’s lows at 1408.00-1406.25 on the EMINI SP futures and 1996.25-1994.00 on the EMINI NASDAQ futures, especially for the EMINI NASDAQ this is a critical area. If those can not hold, 1401.75-1400.50 on the EMINI SP futures and 1984.00-1982.25 could be reached and must hold if the markets want to avoid a melt down move. If those do not invite buyers to step in 1392.50-1392.00 and 1966.25-1965.50 will be seen before any attempt to bounce back.
I have included today my new AS DAILY PROJECTED HIGH AND LOW objective for the session and I hope you can profit from them. Thanks and GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1440.00-1441.50 2040.00-2043.50 765.90-766.50
Resistance 2 1430.50-1432.75 2030.00-2032.25 751.90-752.90
Resistance 1 1422.00-1423.00 2016.00-2018.00 746.70-748.20
PIVOT 1421.50 2015.50 742.10
Support 1 1408.00-1406.25 1996.25-1994.00 730.80-729.90
Support 2 1401.75-1400.50 1984.00-1982.25 726.20-724.50
Support 3 1392.50-1390.00 1966.25-1965.50 718.80-716.70


S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1515.40 2152.85 802.74
1505.60 2138.40 796.46
1489.75 2115.00 786.30
1473.90 2091.60 776.14
1464.10 2077.15 769.86
1448.25 2053.75 759.70
1432.40 2030.35 749.54
1427.50 2023.13 746.40
1422.60 2015.90 743.26
1406.75 1992.50 733.10
1390.90 1969.10 722.94
1381.10 1954.65 716.66
1365.25 1931.25 706.50
1349.40 1907.85 696.34
1339.60 1893.40 690.06












DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1428.75 2028.50 746.60
AS DAILY LOW 1387.00 1964.00 720.00


Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 29 -November – 2007

ECONOMIC CALENDAR

8:30 AM GDP-Prel.
8:30 AM Chain Deflator-Prel.
8:30 AM Initial Claims
10:00 AM New Home Sales

Thanks to Fed’s Vice Chairman Kohn, the markets were able finally to post a two days rally, a huge one. This move took all the traders by surprise as the general condition of the economy is getting worse, but the Fed’s comment indicated another rate cut, bad news, good news.
The market gapped up at the opening and did not stop rallying till the 1462.50 level on the EMINI SP futures and the old highs on the EMINI NASDAQ futures were reached. The rally stalled at these levels waiting for the Beige Book release, once it was out, the rally continued and ended in a photo finish for the best day in 2007. The EMINI SP futures reached 1475.00, the EMINI NASDAQ futures 2107.00 and the EMINI RUSSELL 772.80; a small pullback was seen in to the close.
Yesterday I wrote:” Although yesterday’s strength on the DOW CASH, it is still trading bellow the upper trend line and only a decisive break above it will indicate a turn on the index. The EMINI NASDAQ futures in a daily back and forth chart pattern has not broke out of its consolidation and once a break out occurs it will determine the major market direction.”
The change in direction took place but the indexes went from an oversold condition to an overbought condition very fast, too much, too soon. The EMINI SP futures reached several technical objectives; the 1475.00 area is the 38.2% retracement from the old tome highs to Monday’s lows and just bellow the 78.6% retracement from this leg down that started at 1495.00. The EMINI NASDAQ futures almost reached the 50% retracement from the October 2243.00 level to the November 1982.00 and the EMINI RUSSEL did not broke above the key upper trend line and is now at a crossroads in the chart.
The size from the rally 1409.75 to 1475.00 on the EMINI SP futures opens the doors for a consolidation day. The huge gaps left on all the indexes may have exhausted this bounce, but I need another day to interpret the daily charts in a correct way.
For today we have initial resistance at yesterday highs at 1474.50-1475.50 on the EMINI SP futures and 2103.00-2106.00 on the EMINI NASDAQ futures, if those are tested during the first two hours they offer a good short entry. Above those there is resistance at 1479.50-1482.00 and 2116.00-2118.00 respectively, if those can not stop the short squeeze 1492.00-1493.00 on the EMINI SP futures and 2127.00-2129.00 on the EMINI NASDAQ futures could be reached before the market gets in trouble again.
Initial support is at 1466.00-1465.00 on the EMINI SP futures and 2090.00-2088.00 on the EMINI NASDAQ futures, if broken a test of the 1461.00-1459.50 on the EMINI SP futures and 2080.00-2078.00 on the EMINI NASDAQ futures should be bought if the markets are OK, if not 1449.50-1448.50 and 2072.00-2070.00 respectively must hold, otherwise the trends will be down. GOOD LUCK


TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1492.00-1493.00 2127.00-2129.00 787.90-789.30
Resistance 2 1479.50-1482.00 2116.00-2118.00 777.80-780.20
Resistance 1 1474.50-1475.50 2103.00-2106.00 773.60-774.50
PIVOT 1458.25 2078.25 763.60
Support 1 1466.00-1465.00 2090.00-2088.00 768.30-767.50
Support 2 1461.00-1469.50 2080.00-2078.00 761.60-760.40
Support 3 1449.50-1448.50 2072.00-2070.00 753.90-752.50

NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2186.28 1531.63 806.45
2174.72 1523.37 801.55
2156.00 1510.00 793.60
2137.28 1496.63 785.65
2125.72 1488.37 780.75
2107.00 1475.00 772.80
2088.28 1461.63 764.85
2082.50 1457.50 762.40
2076.72 1453.37 759.95
2058.00 1440.00 752.00
2039.28 1426.63 744.05
2027.72 1418.37 739.15
2009.00 1405.00 731.20
1990.28 1391.63 723.25
1978.72 1383.37 718.35






DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1490.00 2133.00 782.60
AS DAILY LOW 1455.25 2178.25 761.80




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 30 -November – 2007 (for today's report go to theminitrade.com)

ECONOMIC CALENDAR

8:30 AM Personal Income
8:30 AM Personal Spending
8:30 AM Core PCE Inflation
9:45 AM Chicago PMI
10:00 AM Construction Spending

Thursday’s session remained quiet after the previous day powerful rally. This is a normal behavior; as I wrote yesterday that we were likely have a consolidation day.
The market opened bellow the 1468.50 area and that opened the doors for an early selling that drove the EMINI SP futures near the 1460.00 level while the EMINI NASDAQ futures got to the support area around 2088.00. These levels were bought and the EMINI SP futures rallied back in a steady way to a new high for the day at 1477.00. After a small pullback the index got back to our resistance at 1475.00. This lower high was sold and the index went all the way down to 1463.00 where buyers stepped in bringing the EMINI NASDAQ futures to a new daily high at 2114.00 while the EMINI SP futures respected the resistance areas and the EMINI RUSSEL futures showed weakness bellow its long term upper trend line.
During the late afternoon, Bernanke’s speech has hinted that another rate cut may be needed to boost the economy on the short term, and this has all the markets trading higher during the Globex session (night session).
After Wednesday’s huge revival, yesterday’s move can be seen as normal and may have given the bulls a chance to regroup. This rally could still become a counter trend rally or a secondary high, if this is the case the market will be topping on Monday. Today, end of the month should give the bulls the chance to maintain the nightly gains, but I personally don’t trust this fast move up, but only the way that the index act after Monday will give us the conclusion; if the trend is down it won’t be hard to sell off, but if the move down struggles, then we could see a two wave structure to the upside.
The way this rally started, and the fact that there was not panic at the lows, makes me think that the trend should be to the downside, but I don’t want to fight the market.
The EMINI RUSSELL futures, got as high as 773.00, and this is just bellow the upper trend line, it will take a decisive break and hold above that level to change the trend in this index.
For today, there is a lot of economic data to be release, so expect volatility to rise. We have Initial resistance at 1476.75-1478.50 on the EMINI SP futures and 2114.00-2116.00 on the EMINI NASDAQ futures, above those 1482.00-1484.00 on the EMINI SP futures and 2121.00-2123.50 on the EMINI NASDAQ futures should be an invitation for sellers to jump in, but if those can not hold the euphoria, 1488.00-1490.25 and 2140.00-2142.00 respectively could be reached.
There is support just bellow our pivot point levels at 1468.00-1466.75 on the EMINI SP futures and 2097.00-2095.00 on the EMINI NASDAQ futures, if those are broken a test of yesterday’s lows at 1462.00-1461.00 on the EMINI SP futures and 2086.00-2084.00 on the EMINI NASDAQ futures “must” hold if the markets want to keep its consolidation trading range, but if the markets can not rally from those areas, a test of the 1454.00-1453.00 level on the EMINI SP futures and 2072.00-2071.00 on the EMINI NASDAQ futures will be on the cards. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1488.00-1490.25 2140.00-2142.00 779.30-780.20
Resistance 2 1482.00-1484.00 2121.00-2123.50 774.60-775.40
Resistance 1 1476.75-1478.50 2114.00-2116.00 769.50-771.00
PIVOT 1469.50 2098.00 767.00
Support 1 1468.00-1466.75 2097.00-2095.00 764.40-763.20
Support 2 1462.00-1461.00 2086.00-2084.00 759.30-758.50
Support 3 1454.00-1453.00 2072.00-2071.00 749.70-748.10

NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2159.71 1503.29 790.77
2153.04 1499.46 788.23
2142.25 1493.25 784.10
2131.46 1487.04 779.97
2124.79 1483.21 777.43
2114.00 1477.00 773.30
2103.21 1470.79 769.17
2099.88 1468.88 767.90
2096.54 1466.96 766.63
2085.75 1460.75 762.50
2074.96 1454.54 758.37
2068.29 1450.71 755.83
2057.50 1444.50 751.70
2046.71 1438.29 747.57
2040.04 1434.46 745.03







DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1483.50 2124.00 769.20
AS DAILY LOW 1464.75 2092.00 758.50




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK.
You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose.
This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money.
The financial markets are risky .Investing is risky.
The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract.
Opinion is based on historical research but there is not guarantee that futures results will be profitable.
We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded.
We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
For additional RISK DISCLOSURE information you can check.
www.cme.com
www.cbot.com
Copyright © by theminitrade.com
www.theminitrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

Daily Trading Advisory

HAVE YOU READ MY ARTICLE AT futuresmag.com December issue page 22? GO AND GET IT. HAVE YOU SEEN MY NUMBERS ON THE FIRST PAGE at futuresmag.com? GO TO THEIR WEBSITE>

DAILY TRADING ADVISORY 04-December-2007

ECONOMIC CALENDAR

None

After a slightly lower opening, the EMINI SP futures sold of steadily, on the early morning, to the 1475.50 area. A feeble bounce to the 1480s didn’t built any momentum and the EMINI SP futures sold off to new lows at 1473.25, a test of Friday’s lows. The double bottom at 2080.00-2082.00 on the EMINI NASDAQ futures and a successful test of support by the EMINI RUSSELL futures forced a short covering rally taking the index back to the 1481.75 area. After been trading between 1476.00 and 1482.00 and guided by the strength on the EMINI NASDAQ futures, the EMINI SP printed a high at 1484.0, just .25 above my updated resistance area.
My EMINI SP REAL TIME TRADING SIGNALS subscribers knew that this was the level to get short: “The bounce from the lows that I was talking about came true. The EMINI SP futures will have to trade above the 1483.75 in order for this rally to gain momentum. I will try to short the EMINI SP futures around that level with a stop above the 1486.50 level.” After a 1-2-3 double top on the EMINI NASDAQ futures and unable to get above the 2103.00 area, sellers step in a sold the indexes back to the lows. Unable to trade lower, all the indexes reacted perfectly to the support levels and bounced back. Finally and only after the EMINI NASDAQ futures traded at marginal new lows, the EMINI SP was able to break by one point the intraday low printing the 1472.00 on the charts. Finally the indexes recovered a few points in to the end and closed between the ranges.
Yesterday lack of volume session made difficult to the indexes to break Friday’s range, but today, with any economic data to be release could be easier for the bears to push the downside. The violently recovery from the lows isn’t really all that bullish as parabolic moves like that are usually unsustainable and weakness could erase those gains as fast as they appeared.
The markets showed yesterday the struggling downside move that we were expecting and as I noted a mild pullback that last for a few days will be a bullish sign, the EMINI SP futures tested and recovered time after time from the 1472.00-1473.00 area while the EMINI NASDAQ futures that showed notorious weakness closed above the 2072.00 old high. The market is not out of troubles and if the move starts to build momentum and last week rally was only a bounce from oversold conditions, sooner than later, the indexes could be testing the lows. The EMINI RUSSELL futures have been showing once more fragility and a test of last week gap at 747.70 could be in the cards as a correction of three to five days would be normal after last week run.
For today, if volumes are still low I expect more two side action where a lower opening that holds initial support could be reversed and test yesterday mid day highs, but until that happens selling the rallies should offer the best trades.
We have initial resistance just above our pivot point at 1477.75-1478.75 on the EMINI SP futures and 2082.50-2084.25 on the EMINI NASDAQ futures, if those are tested and buyers don’t push higher, be ready for a reversal that if it gains momentum, could take the EMINI SP futures 12-16 points lower. If those are not a problem, a test of yesterday’s highs at 1483.50-1484.50 on the EMINI SP futures and 2091.50-2093.00 on the EMINI NASDAQ futures will be the next hurdles, but if those are exceeded the EMINI SP futures should reach the 1488.50-1490.00 while the EMINI NASDAQ could be testing 2109.00-2110.50.
Initial support is at yesterday’s lows on the 1473.00-1472.00 area on the EMINI SP futures and 2072.00-2069.50 (the old high) on the EMINI NASDAQ futures. A break bellow those areas that get reversed from 1469.25-1468.50 on the EMINI SP futures and 2063.00-2062.50 on the EMINI NASDAQ futures could offer a nice long entry, but if those get cut through a test of the weekly pivot on the EMINI SP futures at 1462.00-1460.50 and 2051.00-2049.00 on the EMINI NASDAQ could be seen before buyers step in. Breaking bellow the 1460.00 on the EMINI SP futures will open the door for a panic selling. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1488.50-1490.00 2109.00-2110.50 777.30-778.50
Resistance 2 1483.50-1484.50 2091.50-2093.00 771.40-773.25
Resistance 1 1477.75-1478.75 2082.50-2084.25 766.30-767.50
PIVOT 1476.50 2081.00 763.70
Support 1 1473.00-1472.00 2072.00-2069.50 757.40-756.00
Support 2 1469.25-1468.50 2063.00-2062.50 753.90-752.90
Support 3 1462.00-1460.50 2051.00-2049.00 747.50-746.80

NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2216.22 1523.40 810.45
2203.53 1518.85 806.35
2183.00 1511.50 799.70
2162.47 1504.15 793.05
2149.78 1499.60 788.95
2129.25 1492.25 782.30
2108.72 1484.90 775.65
2102.38 1482.63 773.60
2096.03 1480.35 771.55
2075.50 1473.00 764.90
2054.97 1465.65 758.25
2042.28 1461.10 754.15
2021.75 1453.75 747.50
2001.22 1446.40 740.85
1988.53 1441.85 736.75





DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1485.75 2090.00 765.60
AS DAILY LOW 1469.50 2060.00 754.80








Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076

 

[arturo1]

[HAVE YOU READ MY ARTICLE AT futuresmag.com December issue page 22? GO AND GET IT. HAVE YOU SEEN MY NUMBERS ON THE FIRST PAGE at futuresmag.com? GO TO THEIR WEBSITE

DAILY TRADING ADVISORY 05-December– 2007

ECONOMIC CALENDAR

8:30 AM Productivity-rev
10:00 AM Factory Orders
10:00 AM ISM Services
10:30 AM Crude Inventories

WEEKLY BULLS AND BEARS SENTIMENT
BULLS 47%
BEARS 46%

The indexes opened down and closed weak as the loss of leadership from the financial sector weighed heavily on the broader market. The markets gapped down at the opening and during the first 10 minutes of trading, the EMINI NASDAQ futures made the low of the day at 2052. What it looked like a strong downside move was immediately reversed as the index got back to 2068.00 while the EMINI SP futures reached the 1470.50. A few attempts to break higher were rejected and both indexes traded on a small range. The EMINI SP futures traded the first four hours between the 1465.00 low and the 1470.00 high. A break up attempt leaded by the EMINI NASDAQ futures took the markets to new daily highs, 2074.75 for the NQ’s and 1472.25 for the EMINI SP futures. The lack of volume and uninterested traders gave us a “bored to death session” where we saw the time the EMINI SP futures trading in a 5 point range 80% of the session. Finally the indexes gave up during the last hour and closed near the lows of the day.
The retracement into the range created by last week move up has not been large and the daily ranges have been small. Yesterday move on the EMINI SP place the index just above the 61.8% retracement from the 1406.75 low to the 1491.75 high, and as the index is struggling to go down with an almost non existent volume a strong move is near. The fact that the retracement is normal after the huge move up does not confirm the continuation of the rally; we have not seen a solid low. The weakness on the EMINI RUSSELL futures has been notorious as the index gave back more than half of its gains, but yesterday low was close to 747.30 gap and we can considered filled. After two days of low volumes and very narrow trading range, the upcoming economic numbers and next week FOMC decision expectations should increase the volatility and lead to a break on the triangle formations.
If the market is ready to continue with the uptrend during the next days, I would prefer to see a large move down, where the gaps left from late November at 2040.00 on the EMINI NASDAQ futures and 1432.25 get filled, otherwise any rally attempt should get out of gas quickly. The only pattern that will negate this scenario will be to consider yesterday’s low as an “island “, and then be followed by a strong up day with follow through.
For today, if the market gaps up at the open as it looks be ready to go short once the move freezes around resistance for a 14-16 down move that could take the EMINI SP futures to the 1460.00 area. It will take a firm break above the 1475.00 level on the EMINI SP futures to end this slow bearish trend.
We have initial resistance at 1469.50-1470.75 on the EMINI SP futures and 2072.75-2073.50 on the EMINI NASDAQ futures, if those don’t offer resistance, the next obstacles are 1475.50-1476.25 on the EMINI SP futures and 2084.00-2085.50 on the EMINI NASDAQ futures. Be ready for a reversal from those areas. If those are exceeded the indexes should get to 1479.50-1480.75 and 2095.00-2097.50 respectively. Above that, the EMINI SP futures could run for the 1485.50 level and show once more extremely overbought readings.
Initial support is around yesterday’s lows, at 1462.00-1460.75 on the EMINI SP futures and 2059.50-2056.75 on the EMINI NASDAQ futures, if broken we have additional support at 1458.50-1457.75 on the EMINI SP futures and 2051.25-2050.25 on the EMINI NASDAQ futures. This “MUST HOLD” if the market has another chance to maintain itself in the trading range and buyers should run to get in at these levels, if those are violated a fast move to the 1453.00-1451.00 area on the EMINI SP futures and 2042.25-2041.50 on the EMINI NASDAQ futures will be seen; those are the last support before the EMINI SP futures head for the open gap at 1432.25. GOOD LUCK

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1479.50-1480.75 2095.00-2097.50 765.30-766.80
Resistance 2 1475.50-1476.25 2084.00-2085.50 759.60-760.50
Resistance 1 1469.50-1470.75 2072.75-2073.50 756.80-757.30
PIVOT 1465.50 2063.50 753.40
Support 1 1462.00-1460.75 2059.50-2056.75 751.10-750.00
Support 2 1458.50-1457.75 2051.25-2050.25 747.70-746.60
Support 3 1453.00-1451.00 2042.25-2041.50 743.50-742.20


NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2109.44 1488.68 774.88
2104.31 1486.32 772.52
2096.00 1482.50 768.70
2087.69 1478.68 764.88
2082.56 1476.32 762.52
2074.25 1472.50 758.70
2065.94 1468.68 754.88
2063.38 1467.50 753.70
2060.81 1466.32 752.52
2052.50 1462.50 748.70
2044.19 1458.68 744.88
2039.06 1456.32 742.52
2030.75 1452.50 738.70
2022.44 1448.68 734.88
2017.31 1446.32 732.52


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1472.75 2079.00 758.80
AS DAILY LOW 1457.25 2057.00 746.00






Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE]

 

[arturo1]

Daily Trading Advisory

HAVE YOU READ MY ARTICLE AT futuresmag.com December issue page 22? GO AND GET IT. HAVE YOU SEEN MY NUMBERS ON THE FIRST PAGE at futuresmag.com? GO TO THEIR WEBSITE


DAILY TRADING ADVISORY 06-December– 2007
ECONOMIC CALENDAR
8:30 AM Initial Claims

The day opened with a huge gap and didn’t look back. The EMINI S P futures opened above the 1472.00 level and immediately pushed higher. After reaching the 1480’s area the market consolidated its move up and finally broke higher to 1488.25. Another consolidation took place at the highs and the EMINI SP futures topped with a marginal high at 1489.00 while the EMINI NASDAQ futures couldn’t advance above the 2108.00 level. Both indexes reversed and the EMINI SP futures dropped 9 points to the 1479.50 area while the EMINI NASDAQ futures tested the waters just bellow the 2100.00. Another fast rally took the indexes to a lower high and the EMINI SP futures repeated on a fast move the 9 points pullback making a low at 1477.25.while the EMINI NASDAQ futures got to the 2090.00 level. With one hour left of trading, and as I predicted on my EMINI SP REAL TIME TRADING UPDATE the indexes rallied into the end of the session testing the daily highs.
Last week I mentioned that a move that struggles to go down will result in an upward move. The EMINI SP futures had two small down days, with the second one closing at the lows. Yesterday gap and follow through the upside move has left the EMINI SP futures with an “island” at the lows, and that struggling downside consolidation with yesterday gap is a bullish pattern, as support has come at very high levels.
Yesterday move was a consequence of many good economic data, factory orders up, productivity up, labor cost down, non farm payrolls pointing to a big gain on its monthly report and the “freeze your payments and pay later” new mortgage policy ready to be announced.
The markets ended on a positive note but if today is not a wide range up day, a few more days of congestion and consolidation could be seen. It is very unusual to see two consecutive trend days, and this move looks to strong to be believed. On a higher opening look for a shorting opportunity as a back and forth action or an exhausting gap could be seen today. Look for early strength to fizzle around resistance, first or second level because a sizeable drop is possible, but the first pullback should be a buying opportunity.
There is initial resistance at 1491.50 on the EMINI SP futures and 2113.75-2115.00 on the EMINI NASDAQ futures, if those levels hold during the first 40 minutes of trading be ready for a 12-14 points reversal move, tight your stops at this level because if the markets exceed these resistance areas they will test the KEY RESISTANCE at 1496.00-1497.00 on the EMINI SP futures and 2122.50-2123.25 on the EMINI NASDAQ futures. If those can not hold they will squeeze the trapped shorts and the indexes could reach the 1501.00-1503.00 and 2134.00-2136.00 respectively.
If the market continues higher, the first pullback should not exceed our initial support area at 1483.50-1482.00 on the EMINI SP futures and 2088.00-2087.00 on the EMINI NASDAQ futures. If those are violated a test of the EMINI SP pivot at 1478.00 that was yesterday’s low should be reversed immediately, this level coincide with our second support area at 1479.50-1478.00 on the EMINI SP futures and 2073.50-2072.00 on the EMINI NASDAQ futures. Nothing but will happen if these levels hold, but trading bellow will leave the indexes vulnerable for a test of yesterday’s open ranges at 1472.50-1471.25 on the EMINI SP futures and 2061.50-2059.50 on the EMINI NASDAQ futures.
A close at these levels could print a 1-2-3 topping formation on the daily chart and signal a short term top, however a close above the 1496.00 on the EMINI SP futures will open the door for a test of the highs during the next weeks. GOOD LUCK



TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1501.50-1503.00 2134.00-2136.00 782.00-783.00
Resistance 2 1496.00-1497.00 2122.50-2123.25 776.10-776.80
Resistance 1 1491.50-1493.00 2113.75-2115.00 771.70-773.60
PIVOT 1478.00 2098.00 764.80
Support 1 1483.50-1482.00 2088.00-2087.50 758.70-757.10
Support 2 1479.50-1478.00 2073.50-2072.00 754.20-753.00
Support 3 1472.50-1471.25 2061.50-2059.50 749.10-747.50



NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2148.45 1517.32 787.55
2142.55 1513.19 784.85
2133.00 1506.50 780.50
2123.45 1499.82 776.15
2117.55 1495.69 773.45
2108.00 1489.00 769.10
2098.45 1482.32 764.75
2095.50 1480.25 763.40
2092.55 1478.19 762.05
2083.00 1471.50 757.70
2073.45 1464.82 753.35
2067.55 1460.69 750.65
2058.00 1454.00 746.30
2048.45 1447.32 741.95
2042.55 1443.19 739.25


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1501.00 2128.00 776.20
AS DAILY LOW 1475.00 2081.50 757.00



Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE][/QUOTE]

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 07-December– 2007 ONE DAY DELAYED SERVICE

ECONOMIC CALENDAR

8:30 AM Non Farm Payrolls
8:30 AM Unemployment Rate
8:30 AM Hourly Earnings
8:30 AM Average Workweek
10:00 AM Michigan Sentiment-Prel
3:00 PM Consumer Credit

After a strong Globex session where the EMINI SP reached the 1495.75 level, just bellow our resistance area at 1496.00-1497.00, the index gave back its gains ones the weekly initial claims data was released.

The index opened with another gap and reached the 1492.75 area from where it pulled back to 1487.50, less than the 9 points pullbacks that we seen in the previous session. After spending one hour bellow our 1493.00 resistance area but without breaking the previous low at 1487.50, the index finally tested and printed a high above the Globex highs reaching 1497.50. Another pullback, this time in the three indexes held my intraday KEY SUPPORT at 1492.50 on the EMINI SP futures, 2107.00 on the EMINI NASDAQ futures and the important 778.00 on the EMINI RUSSELL futures. Those lows were bought forcing the markets higher as the subprime mortgage relief plan was released. All the resistance levels were broken and the markets ran to new highs reaching the 1510.75 on the EMINI SP futures, 787.70 on the EMINI RUSSELL futures and 2132.25 on the EMINI NASDAQ futures.

This rally that started on the 28th of November followed by a 2 days struggling move to the downside, left the EMINI SP futures in a very strong position. A series of open gaps printed an “island” on the daily chart leaving many shorts trapped on the 1463.00 low. The fact that the EMINI SP futures have now broken above 1496.00 in big fashion is highly bullish, however, the fact that the index has now rallied almost 50 points in two days we can see either a moderate pullback or a consolidation built at the highs.
Yesterday I wrote: “Tuesday’s gap and follow through the upside move has left the EMINI SP futures with an “island” at the lows, and that struggling downside consolidation with yesterday gap is a bullish pattern, as support has come at very high levels”.

Today, we get the payrolls numbers and if they come out above expectation, the market should continue this move up based on an economy showing relative strength combined with lower interest rates.

Yesterday strong follow through session and wide range day should be close to a short term top and exhausting high that could be printed between 1526.00 and 1530.00 on the EMINI SP futures, this is all I can see before this huge move up starts to consolidate. Yesterday close near the highs, the 20.96 closing reading on the VIX.X and the DOW CASH just above the upper trend line at 13600, should set up the conditions for a mid-size pullback, and the size of this pullback or the form of the consolidation may be helpful to make a forecast for the coming weeks. If the index can move higher more than 8-11 days will indicate that the move of the lows is not a counter trend but a cyclical end of year rally that should end with another leg up or a secondary high near the all time high.

For today’s session, on a strong or flat opening, look for early strength to be sold near the resistance area, but the first decent pullback should be bought if the markets wants to maintain this bull campaign. Initial support will have to hold or reverse immediately if broken, if the market has not topped yet.

We have initial resistance just above yesterday’s highs at 1510.50-1512.50 on the EMINI SP futures and 2128.25-2131.00 on the EMINI NASDAQ futures. If the markets open lower and those areas are reached be ready for a sell off as these could be double tops, but if those areas do not offer resistance 1515.25-1518.00 on the EMINI SP futures and 2139.50-2142.00 on the EMINI NASDAQ could set up another shorting opportunity. If those are cut trough and the short squeezing move continues 1523.00-1524.00 and 2051.50-2053.00 respectively must hold at least for today.

We have initial support just above the pivot on the EMINI SP futures at 1502.00-1500.50 and 2122.00-2120.00 on the EMINI NASADAQ futures. If those are tested and hold the upside pattern will be intact, but if trading occurs bellow these areas and do not reverses immediately we can have a short term top and the trend will be rolling. Bellow those there must be strong buying at 1493.50-1491.50 on the EMINI SP futures and 2108.00-2106.00 on the EMINI NASDAQ futures. Those levels were a KEY SUPPORT for yesterday’s up move, but if they are not rejected the profit taking move could take us back to the 1487.00-1485.50 on the EMINI SP futures and 2097.50-2095.00 on the EMINI NASDAQ futures. GOOD LUCK.

TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1523.00-1524.00 2151.50-2153.00 792.20-794.30
Resistance 2 1515.25-1518.00 2139.50-2142.00 787.90-788.20
Resistance 1 1510.50-1512.50 2128.25-2131.00 784.10-784.80
PIVOT 1500.75 2119.25 778.70
Support 1 1502.00-1500.50 2122.00-2120.00 772.70-770.70
Support 2 1493.50-1491.50 2108.00-2106.00 766.50-764.80
Support 3 1487.00-1485.50 2097.50-2095.00 760.90-759.80



NASDAQ S&P RUSSELL
FIBONACCI FIBONACCI FIBONACCI
2181.35 1557.27 823.13
2174.15 1550.48 817.97
2162.50 1539.50 809.60
2150.85 1528.52 801.23
2143.65 1521.73 796.07
2132.00 1510.75 787.70
2120.35 1499.77 779.33
2116.75 1496.38 776.75
2113.15 1492.98 774.17
2101.50 1482.00 765.80
2089.85 1471.02 757.43
2082.65 1464.23 752.27
2071.00 1453.25 743.90
2059.35 1442.27 735.53
2052.15 1435.48 730.37


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1523.75 2144.25 796.60
AS DAILY LOW 1493.50 2114.50 776.80



Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE][/QUOTE][/QUOTE]

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 10 -December – 2007

WEEKLY PIVOTS FOR WEEK ENDING 14 –DECEMBER -2007

R3 1537.75
R2 1528.50
R1 1516.50
PP 1495.00
S1 1492.75
S2 1478.50
S3 1464.25

ECONOMIC CALENDAR

10:00AM Pending Home Sales

ROLLOVER DAY IS ON THURSDAY 13 DECEMBER 2007

WEEKLY RECAP
Despite ongoing problems in the subprime mortgage business and housing markets, and growing concerns about the general state of the economy, the stock indexes ended the week sharply higher.
The indexes slide on Monday and Tuesday but held nicely above our WEEKLY PIVOT that recommended buying above the 1460.25 area. However, the indexes opened with a huge gap the Wednesday session and never looked back as productivity, factory orders and labor cost data came out better than expected. Thursday session the markets were able to sustain the uptrend as the subprime mortgage relief plan was released and expectation of a strong payroll number gave the markets an additional boost. As the positive unemployment data was already in the market, Friday’s highs were seen before the regular session and printed the daily and weekly high EXACTLY at our WEEKLY R3 RESISTANCE at 1515.25, BINGO!

The important of the weekly pivot, resistance and support levels is critical when the indexes prices get close to them, and the fact that the last week pivot point offered strong support during last Tuesday’s decline pointed for a positive week. The fact that the weekly third resistance area was reached during the Globex session and not during the regular trading hours, has a huge significance for this coming week. In one of my last week reports, I mentioned the importance of the 1496.00-1497.00 level on the EMINI SP futures, an the fact that the market has closed two days in a row above that area indicates a bullish sentiment, but my calculations for this weekly PIVOT POINT, coincide almost exactly with that important area so, the markets should be strong all the time that 1497.00-1495.00 can hold on a pullback. The pattern of the trending has been strong but already has reached technical objectives and only the way the markets consolidate the last move up will tell us if this move up is a cyclical melt up move or a new leg to a secondary high or a new high that is still to come.

This week we have the Federal Reserve interest rate decision and the fed funds are indicating an additional .25 reduction, should the Fed go with the consensus, we could see some profit taking as the ‘buy the rumor, sell the news” phenomenon comes in to play; should the Fed surprise the markets cutting by another .50, a huge rally will be seen. I personally believe that a .25 rate cut is already in the market and even a first reaction to a .50 cut could result in a wild rally, the obvious message will be that the worst in the credit crunch is still to come. Meanwhile, as last Friday, today’s volumes should be extremely light and for those who have been holding a long position I recommend to take profits and stay on the side until Tuesday’s fireworks are behind us.

Last Friday, the EMINI SP futures gapped up at the open and reached the 1513.25 level during the first hour of trading. An initial pullback leaded by the EMINI RUSSELL futures, that dropped almost 10 points from its 790’s highs, took the EMINI SP futures to 1508.25 where buyers stepped in and forced the EMINI SP futures back to the 1512.00 level where our resistance at 1510.50-1512.50 came in to play. A series of lower highs resulted in a break down of the early lows and got to 1505.75. The lack of volume did not help to build downside momentum and the index backed up to the 1512.50 resistance area. Another attempt at the lows find support at the 1505.50 level and the index traded between 1511.50 and 1506.00 during the last hour of trading. Only the EMINI NASDAQ futures rallied to a new high at 2039.00 before the close just to be sold to the low 2130’s. Despite the tight intraday ranges the EMINI SP futures offered some trading opportunities between the 1510.50-1512.50 resistance area and the intraday lows.

The EMINI SP futures hesitated after penetrating resistance above 1500.00 and a reversal that results in two consecutive closes bellow 1496.00-1495.00 will put in jeopardy the last move up and could result in the indexes giving back half of the last two weeks gains pushing the EMINI SP futures back down to the 1460.00-1472.00 area.
Friday’s highs were printed before the regular session and the index will have to break up above them for this rally to continue as a bearish pattern was developed on Friday’s trading session. Trading bellow Friday’s lows could result in some profit taking. Keep a CLOSE EYE on Friday’s settlement as that should act as a benchmark for the early action, I would not hold any long if I see two consecutive candlesticks bellow the last session settlement. It will be very unusual to see another big upward gap, but in any circumstances your benchmark should be the prior close. I wouldn’t be surprise to see everything on hold until the FOMC big Tuesday’s decision.

For today, we have initial resistance at 1509.75-1511.25 on the EMINI SP futures and 2140.25-2142.00 on the EMINI NASDAQ futures, if the markets show their muscles those areas should be easy penetrated and a test of the high at 1513.50-1515.25 on the EMINI SP futures and 2148.50-2150.00 on the EMINI NASDAQ futures will be seen. If those areas are reached during the first 20-40 minutes of trading they should offer a good short entry at least for a 6-8 points pullback on the EMINI SP futures, but if the those are broken and not reversed during the next 15 minutes, then the EMINI SP futures could advance to the 1520.25-1522.00 area while the EMINI NASDAQ should be trading at 2162.75-2163.50 on another short squeezing move. Breaking above those levels will trigger a bunch of stop loss orders and the main index could reach the 1528.00-1530.00 area or higher.

We have minor support just bellow Friday’s lows at 1505.75-1504.75 on the EMINI SP futures and 2122.00-2120.25 on the EMINI NASDAQ futures. If those are broken a test of 1500.25-1499.50 and 2112.00-2110.00 on the EMINI NASDAQ futures could be on the cards, but if those don’t hold, then the KEY SUPPORT for any normal pullback is at 1495.50-1493.50 on the EMINI SP futures and 2102.00-2099.00 on the EMINI NASDAQ futures. If those are reached and not immediately reversed only 1492.00 on the EMINI SP futures could hold a drop to the 1485.001484.50 area. GOOD LUCK
TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1520.25-1522.00 2162.75-2163.50 801.30-802.60
Resistance 2 1513.50-1515.25 2148.50-2150.00 795.40-796.30
Resistance 1 1509.75-1511.25 2140.25-2142.00 789.40-791.20
PIVOT 1508.25 2131.00 786.60
Support 1 1505.75-1504.75 2122.00-2120.25 782.10-781.70
Support 2 1500.25-1499.50 2112.00-2110.00 777.20-775.70
Support 3 1495.50-1493.50 2102.00-2099.00 773.40-772.60

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1526.85 2168.12 805.20
1524.90 2163.88 803.10
1521.75 2157.00 799.70
1518.60 2150.12 796.30
1516.65 2145.88 794.20
1513.50 2139.00 790.80
1510.35 2132.12 787.40
1509.38 2130.00 786.35
1508.40 2127.88 785.30
1505.25 2121.00 781.90
1502.10 2114.12 778.50
1500.15 2109.88 776.40
1497.00 2103.00 773.00
1493.85 2096.12 769.60
1491.90 2091.88 767.50​

DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1519.50 2148.00 796.60
AS DAILY LOW 1503.50 2123.00 783.50




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE][/QUOTE][/QUOTE][/QUOTE]

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 11 -December – 2007
ECONOMIC CALENDAR
10:00 AM Wholesale Inventories
2:15 PM FOMC Policy Statement

ROLLOVER DAY IS ON THURSDAY 13 DECEMBER 2007
The indexes advanced yesterday as expectations for another rate cut from the Federal Reserve and a better than expected Pending Home Sales data helped to compensate another round of losses on the subprime mortgage sector.
The EMINI SP futures opened higher at the 1511.50 area and dropped to trade Friday’s settlement at 1506.75. Yesterday I wrote: “Keep a CLOSE EYE on Friday’s settlement as that should act as a benchmark for the early action, I would not hold any long if I see two consecutive candlesticks bellow the last session settlement, but in any circumstances your benchmark should be the prior close. “ After holding the pullback to Friday’s settlement, the index turned back up and reached the 1516.25 area, above our resistance level at 1513.50-1515.25. After consolidating the move, the EMINI SP futures gave another push and reached the 1520.00 level just at our resistance area. A pullback to 1515.25 was bought and the market reversed to make a new marginal high at 1520.50. The double top was sold as the EMINI SP futures backed off to 1513.00 where buying came in pushing the index up in to the close to 1519.00.
Yesterday’s quite session remained inside a relatively narrow range in anticipation of today’s Fed interest rate announcement. The light volume was appropriated for Monday trading which is usually the lightest volume day of the week.
The markets has rallied very strong during the last two weeks an all the indexes remains above a very steep lower trend line that has been formed during the last five days. While the EMINI NASDAQ futures and the EMINI RUSSELL futures have already reached some Fibonacci objectives, the EMINI SP futures has a little bit more room to rally, 1.5 to 1.8%, and that is between the 1540.00 and 1548.00. If those levels are to be tested, the Fed must deliver. Despite the first reaction after today’s announcement, this rally is over-extended and has the markets almost on extreme overbought conditions with plenty of bullish sentiment, so if not today, during the coming sessions due to a correction.
Usually on a Fed day, we have a positive open that reverses giving traders the chance to jump in to the long side and maintain quite uptrend till the 15-30 minutes before the announcement. Three waves of activity tend to follow the news, the initial reactionary move followed by a correction, and then a trend move that holds al most in to the end of the session.
So if this plays out, on a higher opening or initial move up be ready to sell on strength once the move stalls, but the first pullback should offer a buying opportunity, so switch your position to the long side near the support areas and hold it till you get bored. If this scenario does not happen wait after the Fed release and don’t try to fight a slow uptrend. Remember that I issued yesterday a “SELL ALERT” that was not confirmed as Friday’s settlement held early on the session, but this call has not been yet rejected. If today’s session does not end lower this medium term alert will be totally invalid as I look for new pattern.
For today, we have initial resistance at 1520.50-1521.75 on the EMINI SP futures and 2147.00-2149.00 on the EMINI NASDAQ futures, if the markets open above them look for a pullback from the 1525.75-1526.50 on the EMINI SP futures and 2155.00-2156.00 on the EMINI NASDAQ futures, those should offer a good short for a 7-9 points pullback. I don’t think those areas will be exceeded before the announcement, but if the markets are in a melt up move 1536.25-1537.75 on the EMINI SP futures and 2163.50-2165.00 on the EMINI NASDAQ could be reached before the longs start to feel cramps on the legs. After the announcement, a total short squeeze can take the EMINI SP futures to the high 1540’s before this leg up is completed.
We have initial support at 1517.75-1516.50 on the EMINI SP futures and 2133.25-2132.00 on the EMINI NASDAQ futures; those MUST hold if support is still at high levels, if those can not hold the 1511.50-1510.50 on the EMINI SP futures and 2128.00-2127.00 should make the job, but if the indexes can not hold this areas, a move to yesterday’s Globex lows at 1502.50-1501.50 on the EMINI SP futures and 2117.00-2116.00 on the EMINI NASDAQ futures should be in the cards.
Remember that our PIVOT POINTS are as important as the resistance and support levels to determine market direction and our AS DAILY PROJECTIONS indicate possible daily objectives and ranges.
Please remember that after the Fed’s announcement is released, tight stops probably won’t work. GOOD LUCK


TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1536.25-1537.75 2163.00-2165.00 804.30-805.60
Resistance 2 1525.75-1526.50 2155.00-2156.00 800.10-800.90
Resistance 1 1520.50-1521.75 2047.00-2049.00 795.90-797.10
PIVOT 1516.00 2136.00 791.90
Support 1 1517.75-1516.50 2133.25-2132.00 788.40-787.10
Support 2 1511.50-1510.50 2128.00-2127.00 779.20-777.10
Support 3 1502.50-1501.50 2117.00-2116.00 772.10-770.90




S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1542.75 2167.96 812.97
1539.50 2164.54 810.43
1534.25 2159.00 806.30
1529.00 2153.46 802.17
1525.75 2150.04 799.63
1520.50 2144.50 795.50
1515.25 2138.96 791.37
1513.63 2137.25 790.10
1512.00 2135.54 788.83
1506.75 2130.00 784.70
1501.50 2124.46 780.57
1498.25 2121.04 778.03
1493.00 2115.50 773.90
1487.75 2109.96 769.77
1484.50 2106.54 767.23


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1529.50 2151.25 801.00
AS DAILY LOW 1510.50 2132.00 788.20


This is a one day delayed edition.

Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, and Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded. You can lose more than your initial investment. We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors.
All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076[/QUOTE][/QUOTE][/QUOTE][/QUOTE][/QUOTE]

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 12 -December – 2007

ECONOMIC CALENDAR
8:30 AM Export Prices ex. - Ag.
8:30 Import Prices ex. – oil
8:30 AM Trade Balance
10:30 AM Crude Inventories

ROLLOVER DAY IS ON THURSDAY 13 DECEMBER 2007

Federal Reserve cut rates by .25% to a two year low and left the door open for additional cuts to prevent housing and credit meltdown and a possible recession. The indices plunged following the FOMC announcement, even thought the Fed cut rates by a quarter of point.

The market opened higher and after been trading between the 1521.00 and 1518.00 area, on our resistance levels, the expected early pullback resulted in the 7-9 points drop that I mentioned in my yesterday’s report; “For today, we have initial resistance at 1520.50-1521.75 on the EMINI SP futures and 2147.00-2149.00 on the EMINI NASDAQ futures, if the markets open above them look for a pullback from the 1525.75-1526.50 on the EMINI SP futures and 2155.00-2156.00 on the EMINI NASDAQ futures, those should offer a good short for a 7-9 points pullback. I don’t think those areas will be exceeded before the announcement.”

The EMINI SP futures bounced back from the 1514.00 low and reached new daily highs at 1527.00 before the Fed’s announcement. The EMINI NASDAQ futures reached exactly our 2151.25 “AS DAILY OBJECTIVE”.

Just after the release the EMINI SP futures drop by 20 points making a low at 1505.75. With no buying coming in, the index fell another 10 points to the 1496.00 area. A 10 minutes back and forth action between 1501.50 and 1496.00 was resolve to the downside pushing the index down to 1489.75. What it looked to be a healthy second wave for the move resulted in a 9 points bounce that once more was meeting with new selling pressure resulting in a steady downtrend in to the end. The EMINI SP futures printed its low at 1475.50 while the EMINI NASDAQ futures tested the 2084.25 and finally the EMINI RUSSELL futures plummet to 764.80.

This nose-dive move increased volume on the SP’s by 19% above the last 5 days average. This was a “sell the news” move that marked the end for the rally that started on November 26.The VIX.X jumped back above the critical 22.00 as the declining stocks outrun advancers by 4 to 1.

Yesterday I wrote about the huge risk and the overextended rally conditions and the possibility of a strong correction that could take the indexes back to the 1472.00-1460.00 area. Yesterday correction is just bellow the 38.2 retracement from the 1527.00 high and should go further to the 50% Fibonacci level at 1466.00 on the EMINI SP futures.

I assume that yesterday move will have to be consolidate with an inside day, or some downside test, possible with a new low but I don’t expect this move to result in a prolonged correction. Next week we have the December options and contract expiration and despite the lost of momentum in the markets, at least should result in a struggling rally in to the end of the year. Yesterday’s long red candlestick on the charts is an inviting one for short sellers. Any attempt to drive prices higher should be met with selling pressure, at least for a couple of days.

For today’s session, a gap up opening should offer an immediately correction and the continuation of the selling pressure as the indexes should fill this gap and test or break yesterday’s lows, but if the markets open or break above yesterday’s swing low at 1489.75, the inside day scenario will be likely.

On the other side of the coin, if the market opens lower I will look for a reversal after the early weakness but I won’t overstay on the long side as many late buyers are trapped and will be selling to offset losing positions.

The first resistance area is at 1481.50-1482.75 on the EMINI SP futures and 2093.50-2096.00 on the EMINI NASDAQ futures. If those are exceeded the swing low at 1489.75-1490.50 on the EMINI SP futures and 2104.00-2106.00 on the EMINI NASDAQ futures should offer a good shorting opportunity. But if those can not hold this “buying opportunity”, the EMINI SP futures should rally to the 1500.50-1502.50 while the EMINI NASDAQ futures could see the 2118.00-2121.00 before the day is over. Those areas are strong resistance and if they are not reversed the trends will be changing once more to the upside.

We have initial support just bellow yesterday’s lows at 1473.50-1472.25 on the EMINI SP futures and 2083.75-2082.00 on the EMINI NASDAQ futures, if yesterday’s move will be consolidated, these areas should hold. If those can not hold, the market should go for the 1468.50-1466.25 on the EMINI SP futures and the previous high at 2071.50-2069.50 on the EMINI NASADAQ futures. But if those areas are not bought, 1463.50-1462.00 on the EMINI SP futures and 2053.50-2052.00 on the EMINI NASDAQ will be tested before this correction is over. Breaking bellow those levels opens the door for an additional plunge to the 1451.50-1449.50 on the EMINI SP futures. If that area is reached I will look for strong buying down there.

For those trading the EMINI RUSSELL futures you have to remember the importance of the 760.70 area as a strong pivot point to define direction on this index. GOOD LUCK



TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1500.50-1502.50 2118.00-2121.00 779.70-780.80
Resistance 2 1489.75-1490.50 2104.00-2106.00 775.40-776.90
Resistance 1 1481.50-1482.75 2093.00-2096.00 767.90-768.20
PIVOT 1491.50 2104.25 774.50
Support 1 1473.50-1472.25 2083.75-2082.00 763.50-762.30
Support 2 1468.50-1466.25 2071.50-2069.50 755.80-753.50
Support 3 1463.50-1462.00 2053.50-2052.00 746.10-745.50


S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1610.33 2259.66 855.91
1598.17 2243.84 847.69
1578.50 2218.25 834.40
1558.83 2192.66 821.11
1546.67 2176.84 812.89
1527.00 2151.25 799.60
1507.33 2125.66 786.31
1501.25 2117.75 782.20
1495.17 2109.84 778.09
1475.50 2084.25 764.80
1455.83 2058.66 751.51
1443.67 2042.84 743.29
1424.00 2017.25 730.00
1404.33 1991.66 716.71
1392.17 1975.84 708.49


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1502.50 2120.00 779.70
AS DAILY LOW 1451.00 2058.25 748.50





Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com

 

[arturo1]

Daily Trading Advisory

DAILY TRADING ADVISORY 13 -December – 2007

ECONOMIC CALENDAR
8:30 AM Retail Sales
8:30 AM Retail Sales ex-auto
8:30 AM PPI
8:30 AM Core PPI
8:30 Initial Claims
10:00 AM Business Inventories


ROLLOVER DAY IS TODAY 13 DECEMBER 2007. MARCH 08 BECOMES THE CURRENT TRADING CONTRACT BUT DECEMBER IS STILL VERY LIQUID. MY NUMBERS ARE BASED ON THE MARCH 08 CONTRACTS.

EMINI SP =ESH8 EMINI NASDAQ =NQH8 EMINI RUSSELL =ER2H8​

All the indexes opened with a huge gap after the Federal Reserve and four other central banks added cash to the financial system in the biggest concerted liquidity injection since the 2001 terrorist attacks.

We surely had a very erratic trading session as the EMINI SP futures and all the other indexes opened with huge gaps, the EMINI SP futures more than 30 points but bellow the 1517.00 area printed during the Globex session.

Yesterday I wrote: “For today’s session, a gap up opening should offer an immediately correction and the continuation of the selling pressure as the indexes should fill this gap and test or break yesterday’s lows”, “Tuesday’s correction is just bellow the 38.2 retracement from the 1527.00 high and should go further to the 50% Fibonacci level at 1466.00 on the EMINI SP futures.”,” Any attempt to drive prices higher should be met with selling pressure, at least for a couple of days.’

I do was expecting a correction move from a higher opening, but honestly its very unusual that after such a higher opening the market was able to fill the gap left at the opening.

The EMINI SP futures opened at 1515.00 and immediately was sold reaching 1495.75. This low was bought taking the index back to the 1502.75 area where a double top pointed the end of the rally. My intraday update called for the downside to gain momentum once the 1496.00 would be broken, but I was expecting support to come in at 1492.00. The index cut through those levels and reached 1485.75 before bouncing back to the 1496.00 previous support and now resistance area. Unable to surpass the turning point sellers stepped in pushing the index down to 1468,75, just two points above my predicted low at 1466.00 based on the 50% Fibonacci retracement from the highs. Another intraday update called for a late rally once the market would be able to trade above 1478.50, the market reached this area but failed on the first attempt, but after making a higher low got its foot going and rally as strong as it felt to 1490.00 closing positive for the day. The EMINI RUSSELL futures held nicely above 760.00 and the EMINI NASDAQ futures tested the important old high at 2072.00.

Yesterday’s large gap up would normally be viewed as a temporary exhaustion, but coming after a wide range day down and then going to a new low below yesterday’s wide range day is strange. The late bounce was very strong and with strong reversal volume, but two big daily bars with a marginal low it’s not a bullish pattern despite the fact that the second day wide range went in so high in the previous bar. This print a very unclear pattern as consolidation of the big down day has not been seen yet.

All this implies a loss of sense of direction and a great amount of indecision in the market and a very dangerous trading situation. I have been calling for a mild bullish end of year pattern but these big range days does not offer a clear entrance to go long.

Today’s session could be as erratic as yesterday and support, pivot and resistance levels could not be so accurate until the mid day as volume has to be generated on the front contract. So please stretch your stops and follow my intraday updates.
On a higher opening that runs in to initial resistance at 1505.00-1507.00 on the EMINI SP futures and 2138.00-2140.00 on the EMINI NASDAQ futures get short with tight stops if the market get twice to that area printing a double top or a lower high, this could offer a good short for at least 10 EMINI SP points. But if those levels are broken, the EMINI SP futures should go for the 1512.00-1513.25 area while the EMINI NASDAQ gets to2148.00-2150.00. Those areas are the equivalent of yesterday’s 1502.75 double top. If those do not stop the buying the last resistance is at 1517.00-1518.00 on the EMINI SP futures and 2156.00-2158.00 on the EMINI NASDAQ futures.

If the market gap down, be ready for a reversal from the initial support at 1485.75-1484.75 on the EMINI SP Futures and 2113.00-2111.00 the EMINI NASDAQ futures, If this plays out, the market should try to fill the gap, but if reached don’t overstay on a long position as yesterday unusual pattern calls for wild swings. If buyers don’t jump at the initial support, the EMINI SP futures could slide to the 1481.00-1479.00 area while the EMINI NASDAQ futures get to 2098.00-2096.00. If the market gets there and do not reverses immediately my last support is at 1472.00-1470.00 and 2074.090-2072.00 respectively before testing back the 1464.00-1462.00 area. GOOD LUCK


TODAY’S SUPPORT, PIVOT AND RESISTANCE LEVELS
S&P NASDAQ RUSSELL
Resistance 3 1517.00-1518.00 2156.00-2158.00 792.00-792.60
Resistance 2 1512.00-1513.25 2148.00-2150.00 786.30-788.00
Resistance 1 1505.00-1507.00 2138.00-2140.00 781.00-782.30
PIVOT 1498.00 2126.00 779.80
Support 1 1485.75-1484.75 2113.00-2111.00 770.00-769.60
Support 2 1481.00-1479.00 2098.00-2096.00 765.00-763.80
Support 3 1472.00-1470.00 2074.00-2072.00 749.00-747.80

S&P NASDAQ RUSSELL
FIBONACCI FIBONACCI FIBONACCI
1606.28 2264.24 839.00
1594.72 2248.01 832.51
1576.00 2221.75 822.00
1557.28 2195.49 811.50
1545.72 2179.26 805.01
1527.00 2153.00 794.50
1508.28 2126.74 784.00
1502.50 2118.63 780.75
1496.72 2110.51 777.51
1478.00 2084.25 767.00
1459.28 2057.99 756.50
1447.72 2041.76 750.01
1429.00 2015.50 739.50
1410.28 1989.24 729.00
1398.72 1973.01 722.51


DAILY PROJECTIONS S&P NASDAQ RUSSELL
AS DAILY HIGH 1524.50 2151.00 793.60
AS DAILY LOW 1478.00 2089.00 765.20




Futures and options trading have large potential rewards, but also LARGE POTENTIAL RISK. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this document. The past performance of any trading system or methodology is not necessarily indicative of futures results.
DAY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.
Every effort has been made to accurately represent all of our products and it's potential. As with any business there is a risk of loss of capital and there is no guarantee that you will earn any money. The financial markets are risky .Investing is risky. The foregoing has been prepared only and solely for informational purposes and is not a solicitation or an offer to buy or sell any security, option or futures contract. Opinion is based on historical research but there is not guarantee that futures results will be profitable. We are not advocating or recommending trading futures and our services, notes and entry and exit prices to the markets only reflects our opinion an a manner how markets can be traded. We mention many indexes like the S&P, NASDAQ, Russell, Dow Jones as T-Bonds only because they are the most known and liquid markets, and not because we recommend in any way to be traded.
You can lose more than your initial investment.
We are not Brokers, Registered Trading Advisors, Registered Investment Advisors or Commodity Trading Advisors. All the material contained here or in any communication is only for information purposes and part of our thoughts and personal conclusions.
Copyright © by theminitrade.com
Index Futures Information Services - Emini Trading Advisory and Trading Alerts | TheMiniTrade.com
5850 Coral Ridge Dr. Suite 303
Coral Springs. Fl. 33076