Friday’s Trading Levels
July 9th, 2010 Posted in UncategorizedGood Morning
Below you'll find my trading levels for today. I'm including my Weekly Levels to illustrate the following comments. If you have questions or suggestions, feel free to contact me directly via email at ruria@manducatrading.com or toll free at 866.312.4965.
Trading Levels
So far so good. As the Talking Heads encourage you to think this week's move in equities is a bottom, I must add caution. When you look at the Weekly Levels below, you'll notice that all index futures but TF U10, the Russell 2000 index which represents growth, are trading well above their respective Weekly Pivots.
I view the Russell 2K as a sign of a healthy market and use this index as a leading indicator. For it to be barely at/above its Weekly Pivot of 615.87 after the week the other indexes have been having is surprising as it is concerning to me. This is just one more sign that there is no growth in corporate America.
I don't expect much out of equities today however, I will be looking for TF U10 to pullback to today's S1 of 611.93. The Dollar (DX U10) is up and explains the modest morning decline. However I think equities can end the week on a high note. If TF U10 pulls back to the 609/610 range, I'd suggest placing a Buy Stop at 612.00. If filled look for this market to trade back to this morning's highs and possibly higher depending on conditions.
Feel free to contact me with questions. - Rob 866.312.4965
Trading Levels
| Daily Pivots | 7/9/10 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES U10 | 1077.67 | 1072.33 | 1063.17 | 1057.83 | 1048.67 |
| YM U10 | 10182.67 | 10136.33 | 10054.67 | 10008.33 | 9926.67 |
| NQ U10 | 1820.33 | 1808.67 | 1791.58 | 1779.92 | 1762.83 |
| TF U10 | 627.07 | 623.13 | 615.87 | 611.93 | 604.67 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM Q10 | 76.78 | 76.13 | 75.25 | 74.60 | 73.73 |
| QG Q10 | 4.69 | 4.55 | 4.45 | 4.30 | 4.20 |
| Weekly Pivots | |||||
| Starting | 7/6/10 | ||||
| S & P 500 | R2 | R1 | PIVOT | S1 | S2 |
| ES U10 | 1056.03 | 1044.67 | 1035.98 | 1024.62 | 1015.93 |
| SPX | 1062.99 | 1051.14 | 1041.81 | 1029.96 | 1020.64 |
| SPY | 106.51 | 105.24 | 104.25 | 102.98 | 101.99 |
| OEX | 481.19 | 476.18 | 472.17 | 467.15 | 463.15 |
| DOW JONES | R2 | R1 | PIVOT | S1 | S2 |
| YM U10 | 9951.07 | 9860.53 | 9789.87 | 9699.33 | 9628.67 |
| DJIA | 10031.54 | 9935.95 | 9858.45 | 9762.86 | 9685.36 |
| DIA | 100.15 | 99.29 | 98.56 | 97.69 | 96.97 |
| NASDAQ 100 | R2 | R1 | PIVOT | S1 | S2 |
| NQ U10 | 1802.83 | 1779.77 | 1760.93 | 1737.87 | 1719.03 |
| NDX | 1803.86 | 1782.13 | 1763.46 | 1741.72 | 1723.05 |
| QQQQ | 44.36 | 43.80 | 43.34 | 42.79 | 42.32 |
| RUSSELL 2K | R2 | R1 | PIVOT | S1 | S2 |
| TF U10 | 630.87 | 621.05 | 613.61 | 603.79 | 596.35 |
| RUT | 633.18 | 623.66 | 616.32 | 606.81 | 599.47 |
| IWM | 63.44 | 62.50 | 61.72 | 60.78 | 60.00 |
| CRUDE OIL | R2 | R1 | PIVOT | S1 | S2 |
| QM Q10 | 76.62 | 75.79 | 75.00 | 74.17 | 73.38 |
| USO | 34.51 | 34.15 | 33.82 | 33.45 | 33.13 |
| NAT GAS | R2 | R1 | PIVOT | S1 | S2 |
| QG Q10 | 4.89 | 4.79 | 4.69 | 4.59 | 4.49 |
| UNG | 8.20 | 8.04 | 7.89 | 7.73 | 7.59 |