Monday, October 15, 2012

Market Status

2:15pm Update : There was another setup in the afternoon but did not have time to type it here.

Price Action Recap : The ES opened at 1426.50 and immidietely touched  the VAH at 1428.25 where it did a reversal and that number happened to be the low of the Reaction to the Retail Sales Report at 8:30am est. <  < this was anticipated by the clue given earlier, read below -to be continued...

Hey ! Arthur from Utah, did you do any trades today in the ES ? hope you getting some value out of this post.


10:36am Update : Second Target hit and filled at 1423.50 and Third target booked at 1422.25
Total profits : + 13.75 pts


9:00am Update : Notice how the Retail Sales Report came out very positive, yet the ES reversed to down after a UP price spike of only 1.25 pts and a spike in volume. This reaction is a clue of what will happened later at the open. A classic High Volume Reversal Trade,

Open Position : SHORT @ 1430 and 1428.75 , booked + 3 pts and looking for 1423.50


8:30am Update : Sold 1430 will add at 1428.75 > test of 1429 Key Level < Sold 8:45am

Short Swing Position :  ZBZ12 ( 30 yr T-Bonds ) from 149.15 > First Target was hit and booked + $ 437.50 or 14 tics.
Overbought Setup from cycle indicator worked as expected for a nice easy profit.


Monday-Oct 15 - 6:00am Update :

The ES has been trading between 1426.75 and 1429 for more than 4 hours which clearly indicates how important this zone is.

Long from 1416.75 < took profits at 1428.75 booked + 12 pts


8:26pm Sunday - Oct 14 :

The ES is trading tonight at a key trend line support while showing a divergence on the MACD key chart, if you have been following my previous posts, you should know which one.

The Sunday night Globex action has found support at : S 1 < 1416.50

My current position is Long from 1416.75, will take profits if it gets to 1423.50 and will initiate a short position there,if it does not hold, looking for a new low of 1412 to 1411.

                                1434 < Key Level
The key levels are : 1431
                                1429 < Key Level
                                1428.25 < VAH
                                1425.25 < Floor Pivot
                                1416.50 < S 1
                                1412 < Key Level

A positive Retail Sales report is expected but if it comes out weak it will push the market down.
The 30 year T-Bonds Futures will come down from overbought levels tonight , Sold 149.15 , it may retrace back up again during the day session.

Good trading,
JaguarTrader ( StocksTwits )

1 comment:

  1. Thanks for posting. It helps to know some of the thoughts behind the trades. I do appreciate it. I missed your post last night, but did note the MACD divergence, unfortunately I didn't go long at 1417ish area. I also had some morning meetings this morning, and so missed your nice play on the 1430-1423 short. Being two hours behind the market can make it difficult to hit the morning plays.

    I did however shoot a long in around 1423 with a stop a few tics below the low it made at 1422 and rode it up to 1431. My precision still leaves something to be desired, its a work in progress. I must say you setup some very workable levels, and great trades today. You tore it up.