ES Emini: Pivot R1, R2, S1, S2 and Fed Announcements

By , 1 September, 2009, No Comment

It looks like an interesting day, as the “Cash for Clunkers” program should give the motor vehicle sales a nice boost, though one must wonder how much weight the market will give the numbers given the circumstance from which they arise. The usual home sales data follows and might produce some interesting results.

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ES Emini Trading: Trade the Closing Price

By , 31 August, 2009, No Comment

Today’s chart, which should be directly below this post, illustrates something that I have a strong belief. I don’t know that my view is controversial, but as I watch people trade, not many are able to adhere to this simple principle: You are only interested in opening and closing prices in the time period you are trading.

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ES Emini Chart for 8-31-09

By , 31 August, 2009, No Comment

I stayed out of the early action as the market fell out of bed on poor performances in the Asian market and elsewhere, with the exception of Japan. True to form, 9:30 brought some quick action as I was able get a quick long trade and fade it on a short trade. From that point on the market was choppy and uneven, and I burned a trade when I became impatient.

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Todays Pivot R1,R2, S1 and S2

By , 31 August, 2009, No Comment
ESU9
For 08/31/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1036.83 1046.17 1029.42 1020.08 1012.67

Fed and other pertinent announcements

Chicago PMI
[Report][Bullet9:45 AM ET

Farm Prices
[Bullet3:00 PM ET

I wrote a little on pivots, support and resistance yesterday that might be worth a good look for newer traders.

For bond traders, be aware of the new tick change value, from 1/64 to 1/32.

Technorati

By , 30 August, 2009, No Comment

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Emini Trading: Pivots, Support and Resistance

By , 30 August, 2009, No Comment

I like to establish the days pivot point (along with R1, R2, S1 and S2) before I begin any trading session. In my mind, these are hypothetical points of support and resistance. There is a problem with pivot points, though, and it lies in the word hypothetical.

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Emini Charts and Trading Psychology

By , 29 August, 2009, 1 Comment

But how do you filter out all of those components of thinking that doom your trading success? Greed, anxiety, anticipation, overtrading, and a host of other psychological factors are the stuff of failure, not chart reading. Really, it’s how you think that will determine your success.

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Can this Market Rally Keep Going?

By , 29 August, 2009, No Comment

The initial phase of most bull markets is usually based in speculation, though. So you might argue that we are entering a new bull market, except this run up is actually quite extraordinary when compared with initial phases of past bull markets.

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