Thursday’s Trading Levels

July 29th, 2010 Posted in Uncategorized

Good morning

This morning the Government release this week's Jobless Claims. Initial Claims fell 7000 to 457K vs 460K expected. Continuing Claims were 4.56 million vs 4.50 million expected. This isn't really having an effect on markets.

Equity index futures are up this morning thanks to better than expected earnings and a tame jobs report. However, as I mentioned Tuesday, I think we've started a mild pullback following this recent run. I'll take my queue from the markets but I feel there is a more of a tendency to sell and book profits now than there is of a renewed push higher.

As I write this TF U10 and ES U10 are trading 655.90 and 1110.75 respectively. TF U10 is already trading under R1 659.80 - bearish - while ES U10 is trading above its R1 of 1109.58. I'll be looking to short ES U10 at 1109.50 on a Sell Stop.

If you care to discuss a strategy to trade the numbers below or strategy for any other markets, feel free to contact me directly via email at ruria@manducatrading.com or toll free at 866.312.4965 - Rob

Today's Trading Levels

Daily Pivots	7/29/10
EQUITIES	R2	R1	PIVOT	S1	S2
ES U10	1116.67	1109.58	1104.42	1097.33	1092.17
YM U10	10543.33	10496.67	10454.33	10407.67	10365.33
NQ U10	1904.33	1886.92	1875.83	1858.42	1847.33
TF U10	669.70	659.80	653.10	643.20	636.50
ENERGIES	R2	R1	PIVOT	S1	S2
QM U10	78.13	77.52	76.71	76.09	75.28
QG U10	4.93	4.83	4.75	4.65	4.57