| ESZ9 For 11/09/2009 |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1072.67 | 1079.08 | 1063.08 | 1056.67 | 1047.08 | |
Fed and Agency Announcements
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1:00 PM ET| ESZ9 For 11/09/2009 |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1072.67 | 1079.08 | 1063.08 | 1056.67 | 1047.08 | |
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1:00 PM ETI have been involved in the securities business for my entire adult life, having been a trader at both the retail and institutional level. Trading stocks, or forex pairs is a wonderful way to stack up money, if you have the experience and knowledge to trade successfully.
Unfortunately, that learning curve can be a steep one, and expensive. With that in mind, I looked over a program to trade equities that is specifically designed for beginners. As you may know, most stock indexes are composites of a basket of equities trading on either the NYSE or the NASDAQ exchanges. These indexes are traded in a variety of methods ranging from Options to Futures Contracts, and usually originate on the Chicago Mercantile Exchange or the CBOT. The nice thing about stock indexes is there is great transparency in trading these issues. The markets are well regulated, liquid, and orderly.
Many novice traders purchase trading robots or exotic trading systems that may cost as much as $10,000 a year, and might gave limited success. I do not recommend purchasing bots or high priced systems to start. I also recommend that all traders “paper trade” on demo account until they are proficient in a single market. I do not recommend trying to trade multiple markets in the learning stage of trading, as each market has a distinct personality and demeanor. Learn to trade one market proficiently, then you might choose to move on to others. Several trade set-ups repeat themselves on a regular basis in the market. This can be attributed, theoretically, to a number of factors.
1. Technical traders trade in tight parameters and use similar indicators. Thus, support and resistance may become self-fulfilling trading patterns.
2. Some behavior economists believe the human response to a given set of trading stimulus is a constant, thus the repetitive set ups for profit.
3. Wave theorists believe the market moves in distinct and predictable patterns based upon the actual chart formations. Whatever the reason, if a novice could learn just one of these consistently profitable trade set-ups, he could be quite adept at trading the markets.
German trader Karl Dittman has identified one of these patterns with great success and accuracy and has published his work and received a very receptive response, from experienced and inexperienced traders alike. His book, Stock Index Secret Trade would allow the greenest trader to be very profitable over a long period of time. The single trade he uses, is very easy to spot, often overlooked, and is consistent winner. Any novice would profit greatly using this simple but effective system
| ESZ9 For 11/04/2009 |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1041.83 | 1042.42 | 1041.42 | 1040.83 | 1040.42 | |
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2:15 PM ETDay trading the ES emini using the short time period and small gains is called scalping, and it is the style of trading I use. I don’t long for long term trends, and I don’t hold trades overnight…
In the last video on the S&P 500 (10/27), we indicated that this market may have topped out for the year. Today’s action puts in place a weekly “Trade Triangle” which indicates that a temporary or a permanent top is now in place for this market.
In this latest video, I share with you some of the ideas that I think could potentially come into play for this market. Not only do I have some downside targets in mind, but I also see a pattern that could evolve in the next several weeks which will confirm that we’ve made a serious high in this market.
Watch this FREE and informative video-Has the S & P 500 broken final support?
Chart courtesy of AMP Trading, get a free demo account and paper trade.
What an enjoyable day it was to trade as the market was less than tricky. As you can see the signals on the larger moves were clear to see, though there were a few trades I missed because the CCI stayed between the 100″s, or in the “market noise” section, even though a significant move was occurring. On the other hand, it is important to understand that a trader is not going to catch EVERY move, and trying to catch all the moves results in over aggressive trading.
Another tool I look at extensively is a free tool from INO that does excellent trend analysis, and the fact that it is free makes it all the more attractive. It is relatively simple and will give you a great overall view, and statistical strength of any given trend, or lack of trend, for that matter.
The tool is simple to use, just enter the symbol for any of the instruments you are trading and a detailed and useful chart is emailed to you in seconds. I have saved hundreds of these charts and constantly compare them week-to-week, or month-to-month. They are very helpful.
Just another tool in my trading arsenal, and it’s free. Give it a try.
| ESZ9 For 11/02/2009 |
How To Use |
| Symbol | R1 | R2 | Pivot | S1 | S2 | |
| ESZ9 | 1054.00 | 1075.00 | 1041.75 | 1020.75 | 1008.50 | |
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10:00 AM ETDaniel Tarullo Speaks
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1:00 PM ETMarket Consensus Before Announcement
The Institute for Supply Management’s manufacturing index was little changed in September at 52.6 from August’s 52.9. Importantly, it was still over 50, indicating that more purchasers are reporting expansion rather than contraction. The new orders softened a bit in September, but remained very positive and strong at 60.8—down from 64.9 in August. Prices paid continue to show upward pressure, coming in at 63.5 and down only marginally from 65.0 the prior month.
Market Consensus Before Announcement
Construction spending rebounded 0.8 percent in August after declining 1.1 percent in July. The boost in spending in August was led by a 4.7 percent jump in private residential outlays. In contrast, private nonresidential slipped 0.1 percent and public outlays dropped 1.1 percent in August. Looking ahead, based on the recent uptrend in housing starts (up in four of the last five months), the private residential component for outlays will likely post a gain for September. But high vacancy rates weigh on the nonresidential component as does state & local government revenue declines on public outlays.
I use an 89-period Simple Moving Average to get the overall trend of the market. If the daily price action is significantly above the SMA I concentrate on long trades, and conversely, if the price action is significantly below the SMA I concentrate on short trades.