Home Futures Trading Advantage Futures – Notes from the Pit 9/29/17

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ATTEMPTED DIRECTION:        BUYER    or    SELLER

1) Rotation                                                   Buyer

2) Range Extension                                      Buyer

3) Public went home as a…                         Buyer

4) Buying-Selling Tails                                Neither

5) Open in Bull or Bear Range                    Buyer

ATTEMPTED DIRECTION: …Bullish

Comments:  This shows no bias with a “normal” profile.

 

ATTEMPTED PERFORMANCE:

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

Today           (1.077 million) … LOWER vs. the prior day

5-day Avg.   (1.241 million) … HIGHER vs. the average

2) Value Area: Overlapping-to-higher

       

3) VA Width: Narrower

COMMENTS:  The VA placement was overlapping-to-higher but narrower vs. the previous day’s VA with less volume.

Monthly Trend = Bullish

Weekly Trend = Bullish

Daily Trend = Bullish

                                                                                                                                

POTENTIAL RESULTS: Chicago PMI and Consumer Sentiment data will be released 15 & 30min after the open. Friday is the close of the month and the QUARTER, so there may be more window dressing ahead (higher $).

 

(HVA)Support =     2505.50 to 02.00, 2498.00 to 91.25 … none

(HVA)Resistance = … 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!

 

IMPORTANT NOTICE: Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results.

 

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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