Trading Levels for the Week of June 28th
June 28th, 2010 Posted in UncategorizedGood morning Traders
Equity index futures closed well below last week's Weekly Trading Levels. This is bearish sign for stocks coming into this week , putting pressure on the current reversal in downtrend that I had noted earlier.
In terms of my numbers listed below, it looks like TF U10 and ES u10 will be opening at or slightly above today's Pivots of 638.77 and 1072.33, respectively. However they'll be opening well below their Weekly Levels of 645.49 and 1089.07.
It really is tough to say what's going to happen in equities over the next week. On the one hand you have quarterly Index ETF options that expire on the 30th, which has prolonged the Quadruple Witching up/down experience. On the next, we typically have a bullish trend trade that should begin today heading into the 4th of July holiday weekend. Also, with earnings season to start next week, I do expect money managers to do selective shopping ahead of it. So in a nutshell, I'm cautiously bullish. TF U10 has been fairly strong as of late so I think equities should find traction but protect your downside risk with options (insurance).
If you have question or comments regarding my blog, feel free to contact me directly at 866.312.4965 or via email at ruria@manducatrading.com.
Trading Levels
| Daily Pivots | 6/28/10 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES U10 | 1089.08 | 1081.92 | 1072.33 | 1065.17 | 1055.58 |
| YM U10 | 10209.67 | 10157.33 | 10088.67 | 10036.33 | 9967.67 |
| NQ U10 | 1870.33 | 1854.92 | 1841.08 | 1825.67 | 1811.83 |
| TF U10 | 655.97 | 649.43 | 638.77 | 632.23 | 621.57 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM Q10 | 80.52 | 79.71 | 78.29 | 77.48 | 76.07 |
| QG Q10 | 4.98 | 4.95 | 4.88 | 4.85 | 4.78 |
| Weekly Pivots | |||||
| Starting | 6/28/10 | ||||
| S & P 500 | R2 | R1 | PIVOT | S1 | S2 |
| ES U10 | 1108.82 | 1097.68 | 1089.07 | 1077.93 | 1069.32 |
| SPX | 1112.79 | 1101.50 | 1093.48 | 1082.18 | 1074.16 |
| SPY | 111.32 | 110.21 | 109.36 | 108.25 | 107.41 |
| OEX | 502.78 | 498.06 | 494.87 | 490.16 | 486.97 |
| DOW JONES | R2 | R1 | PIVOT | S1 | S2 |
| YM U10 | 10395.53 | 10304.07 | 10233.13 | 10141.67 | 10070.73 |
| DJIA | 10461.60 | 10363.90 | 10293.58 | 10195.88 | 10125.57 |
| DIA | 104.56 | 103.66 | 102.95 | 102.05 | 101.34 |
| NASDAQ 100 | R2 | R1 | PIVOT | S1 | S2 |
| NQ U10 | 1910.67 | 1889.23 | 1872.87 | 1851.43 | 1835.07 |
| NDX | 1910.17 | 1888.48 | 1873.32 | 1851.63 | 1836.47 |
| QQQQ | 46.98 | 46.44 | 46.05 | 45.51 | 45.13 |
| RUSSELL 2K | R2 | R1 | PIVOT | S1 | S2 |
| TF U10 | 663.71 | 653.43 | 645.49 | 635.21 | 627.27 |
| RUT | 664.13 | 654.91 | 647.87 | 638.65 | 631.61 |
| IWM | 66.76 | 65.75 | 64.96 | 63.95 | 63.15 |
| CRUDE OIL | R2 | R1 | PIVOT | S1 | S2 |
| QM Q10 | 79.33 | 78.49 | 77.53 | 76.70 | 75.74 |
| USO | 35.70 | 35.31 | 34.93 | 34.55 | 34.17 |
| NAT GAS | R2 | R1 | PIVOT | S1 | S2 |
| QG Q10 | 5.07 | 4.96 | 4.86 | 4.75 | 4.66 |
| UNG | 8.51 | 8.34 | 8.22 | 8.05 | 7.93 |