February 7th, 2010 Posted in Uncategorized
Welcome Back Traders
Another week and another opportunity to make a living!
As I write this, the Colts and Saints and most of America is preparing for Super Bowl 44. The rest of the world is wondering about how messed up the global economy is.
For the record, equities are still in a correction. Friday's late rally was nice but did nothing to reverse the correction. Index futures closed the week below their respective Weekly Pivots, confirming the bearish trend. We'll see if we get follow through from Friday this week.
Some believe the outcome of the Big Game will determine/forecast the direction of the stock market - AFC (Colts) win, down market - NFC (Saints) win, up market. Last year Steelers won but we had a monster rally so this doesn't always work. There has been an uncanny correlation but as they say in this biz, Past performance is no indication of future results.
Anyway I'll be back in Monday morning with a trade idea. If you have questions or comments about my numbers below or my commentary, please feel free to contact me at 866.312.4965.
Happy Trading, Rob!
Monday's and This Week's Trading Levels
| Daily Pivots | 2/8/10 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES H10 | 1078.08 | 1068.92 | 1054.83 | 1045.67 | 1031.58 |
| YM H10 | 10107.00 | 10023.00 | 9907.00 | 9823.00 | 9707.00 |
| NQ H10 | 1771.33 | 1757.92 | 1734.33 | 1720.92 | 1697.33 |
| TF H10 | 600.17 | 594.93 | 586.67 | 581.43 | 573.17 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM H10 | 75.86 | 73.52 | 71.51 | 69.17 | 67.16 |
| QG H10 | 5.72 | 5.63 | 5.51 | 5.41 | 5.29 |
| Weekly Pivots | |||||
| Starting | 2/8/10 | ||||
| S & P 500 | R2 | R1 | PIVOT | S1 | S2 |
| ES H10 | 1096.62 | 1088.48 | 1079.32 | 1071.18 | 1062.02 |
| SPX | 1100.77 | 1092.30 | 1083.15 | 1074.67 | 1065.52 |
| SPY | 110.09 | 109.29 | 108.39 | 107.59 | 106.69 |
| OEX | 506.69 | 502.90 | 498.86 | 495.06 | 491.03 |
| DOW JONES | R2 | R1 | PIVOT | S1 | S2 |
| YM H10 | 10239.07 | 10171.73 | 10097.67 | 10030.33 | 9956.27 |
| DJIA | 10307.22 | 10230.34 | 10146.15 | 10069.28 | 9985.09 |
| DIA | 102.82 | 102.15 | 101.42 | 100.76 | 100.03 |
| NASDAQ 100 | R2 | R1 | PIVOT | S1 | S2 |
| NQ H10 | 1785.03 | 1771.67 | 1755.38 | 1742.02 | 1725.73 |
| NDX | 1786.57 | 1773.43 | 1757.43 | 1744.29 | 1728.28 |
| QQQQ | 43.95 | 43.62 | 43.22 | 42.89 | 42.49 |
| RUSSELL 2K | R2 | R1 | PIVOT | S1 | S2 |
| TF H10 | 613.07 | 607.59 | 601.35 | 595.87 | 589.63 |
| RUT | 613.92 | 608.62 | 602.95 | 597.65 | 591.98 |
| IWM | 61.44 | 60.90 | 60.28 | 59.74 | 59.13 |
| CRUDE OIL | R2 | R1 | PIVOT | S1 | S2 |
| QM H10 | 77.29 | 75.94 | 74.59 | 73.24 | 71.89 |
| USO | 37.86 | 37.24 | 36.58 | 35.96 | 35.30 |
| NAT GAS | R2 | R1 | PIVOT | S1 | S2 |
| QG H10 | 5.62 | 5.53 | 5.43 | 5.35 | 5.25 |
| UNG | 10.15 | 10.00 | 9.84 | 9.69 | 9.53 |