Home Futures Trading Advantage Futures – Notes from the Pit 11-22-17

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ATTEMPTED DIRECTION:        BUYER    or    SELLER

1) Rotation                                                   Buyer

2) Range Extension                                      Buyer

3) Public went home as a…                         Neither

4) Buying-Selling Tails                                Both

5) Open in Bull or Bear Range                    Buyer

ATTEMPTED DIRECTION: …Bullish

Comments:  This shows a mildly bullish bias with a “normal variation” profile.

ATTEMPTED PERFORMANCE:

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

Today           (1.095 million) … HIGHER vs. the prior day

5-day Avg.   (1.306 million) … LOWER vs. the average

2) Value Area: Higher     

3) VA Width: Unchanged

COMMENTS:  The VA placement was higher but unchanged vs. the previous day’s VA with slightly better volume.

Monthly Trend = Bullish

Weekly Trend = Bullish

Daily Trend = Bullish                                                                                                                               

POTENTIAL RESULTS: Consumer Sentiment data will be released 30min after the open. Oil and Nat Gas storage data will come out 10:30am and 12pm ET.  FOMC Minutes will come out at 2pm ET. The ES made new record highs and formed a “p” distribution, which suggests short covering and not strong new buying and therefore could lead to weakness. But once it opens, it can only go up, right? After 2,600.00 – now what?

(HVA)Support =     2582.00 to 80.00, 2578.25 to 72.50, 2568.50 to 66.75

(HVA)Resistance = 2597.25 to 98.75 … none

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

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

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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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