Home Futures Trading Advantage Futures – Notes from the Pit 10/10/17

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ATTEMPTED DIRECTION:        BUYER    or    SELLER

1) Rotation                                                   Neither

2) Range Extension                                      Seller

3) Public went home as a…                         Neither

4) Buying-Selling Tails                                Seller

5) Open in Bull or Bear Range                    Seller

ATTEMPTED DIRECTION: …Bearish

Comments:  This shows a mild bearish bias with a “normal variation” profile.

 

ATTEMPTED PERFORMANCE:

1) Today’s ES volume compared to prior day & 5-day average

Today           (0.705 million) … LOWER vs. the prior day

5-day Avg.   (0.927 million) … LOWER vs. the average

2) Value Area: Outside

       

3) VA Width: Wider

COMMENTS:  The VA placement was outside and wider vs. the previous day’s VA with extremely low volume.

Monthly Trend = Bullish

Weekly Trend = Bullish

Daily Trend = Bullish

                                                                                                                                

POTENTIAL RESULTS: No economic data will be released after the open; however, Kashkari of the Fed speaks 30min after the open. Developments out of Spain could move the markets today as well.

 

(HVA)Support =     2536.50 to 34.25, 2532.00 to 30.25, 2505.50 to 02.00

(HVA)Resistance = 2543.50 to 49.25 … none

* Indicates important “chart levels” that are not HVAs.

Please use the pivot calculator in the “shared folder” for all of today’s pivots.

…  Follow @NoteFromThePit for important tradable news tweets!

 

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DAY TRADING involves high risks and YOU can LOSE a lot of money. These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

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