Daily Reflection: 08.06

A slow week to say the least. Today’s Jobless Claims # added a little volatility to the markets, but overall we continue with the sideways action. We bounced off trend line support today and this candle will be used for the bullish/bearish line in the sand, bullish above, bearish below.

Daily Reflection: 08.05

This week we have been trading within the value area each day resulting in complete chop. Looking at a daily it’s clear that we are in a period of consolidation. The more we move sideways after a gap the more likely we are to break in the direction of the gap once the consolidation is over. Therefore, we are looking for a resume to the trend and move higher.

Tomorrow’s Employment Situation is the big news at 7:30 CST so be ready for some volatility.

The day’s value area is defined as 70% of where volume took place during that day. Below is a value chart. More on this can be found here.

Daily Reflection: 08.04

Two consolidation days after Monday's move up. Expect a reaction tomorrow. Also, keep an eye on the VIX as it has been drifting lower.

Live e-mini S&P Trade

Daily Reflection: 08.02

Given that we hit our 1122 target on the S&P. The next expected pullback level would be 1187, however since we traded back at a 50% level of 1085, we have another unfilled target at 1134. The longer term bullish line in the sand will be 1078, bullish above, bearish below.

Wk31: Market Forecast

The S&P is at a great level to put on positions, both to the long and short side. It is not clear yet whether we have double topped, or if this is the stat of an uptrend. Both have developed, but neither has broken out to confirm its trend. In situations like this it’s best to start the week delta neutral and add/subtract positions as the week progresses.

Our unfilled targets on the S&P are still $1122.

News announcements for the week…

Live Futures Trading

Here is an example of an e-mini S&P futures trade using Infinity Futures and Thinkorswim.

Daily Reflection: 07.27

We saw nice breather for the markets today. The line in the sand for tomorrow will be the 1114 on the ES (e-mini S&P). If we move above this level we should have no problem making it to our 1122 target. A pullback would not be a bearish signal just yet and sideways action is considered bullish in this case.

Daily Reflection: 07.26

A very technical day in the markets today. Expecting a great week for trading. Looking for that 1122 on the S&P this week. If we sell off from there we will look to get long again around 1086.

The VIX continues to fall and is about to breakdown out of a decending triangle. This is a pivotal level and we should see some strong moves in the market this week.

Infinity Futures Platform

Checkout Infinity Futures for a cheaper alternative to the TT (Trading Technologies) and CQG trading platforms.