There was very good trading in the S&P e-Minis today. It was especially good for a day after a holiday. Supply was evident in the overnight market, as well as off the US open. This allowed for an early short trade. Volume came in strongly to the downside, and a small congestion area resulted in a minor UpThrust and another short opportunity. Volume characteristics … [Read more...]
Friday’s Trades as Market Fell/Free Webinar
Thursday, January 16, was a confined trading day on light volume. Traders would be looking for upside development after this potential test (see daily chart at A). Had the test been immediately successful, new all-time highs in the S&Ps would have occurred. But that didn't happen. After dropping briefly under Thursday's low (see intraday chart at B) and … [Read more...]
Morning Sell-Off Ends with a Spring
Today was an interesting trading day. The market sold down from the overnight high. Although selling was dominant during the early part of the US session, it wasn't overwhelming enough to trigger a trend day down. The Weis Wave told us that. So when the market reached yesterday's low and failed to bring in supply, a Spring was initiated. Thrust in the price bars shortened … [Read more...]
Follow Up to Yeasterday
In last night's post (see that post by clicking here), I suggested that we look for the market to hold around Friday's low and look for a rally to the 1830 level in the S&P e-mini futures. The Asian and European sessions saw buying above Friday's low and then rally. After reaching a high of 1832.50 at the US open, the market had an UpThrust on light volume and ran down … [Read more...]
Fed Day Trading
Federal Reserve Open Committee Meeting Days, like today, can be quite volatile. Many traders take the day off. I like Fed Days. Our method of trading is particularly well-suited for days in which volatility expands. When the markets are active, the indications of buying and selling become clear. Just before the Fed announcement, the market (S&P e-minis) pushed down. … [Read more...]
