January 4th, 2012 Posted in Uncategorized
Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.
The question of the day will be - Was yesterday's opening year broad based rally for real or just a product of more Headline-news short covering? One thing is for sure, if US markets are trading off the Euro Currency (and they seem to be), troubling waters are still ahead.
Although equity index futures are still trading bullish on a week to week basis, they are still in overbought/extended range. I wouldn't be surprised to see a modest sell off given yesterday's market action.
The sell off I'm describing is occurring as I write this. ES H2 and TF H2 are trading under their respective daily S1. That said, I'll be looking for the following:
BUY ES H2 @ 1268.75 STOP
BUY TF H2 @ 745.5 STOP
For Crude Oil - SELL QM G2 @ 102.025 STOP
For Grains - SELL ZS H2 @ 1231.5 ; SELL ZC H2 @ 658.6 STOP ; SELL ZW H2 @ 660.3 STOP
For Metals - SELL YG G2 @ 1593.9 STOP
As always, if you have questions or comments, call me before trading these ideas and the levels below - 312.224.7882.
I'll be happy to discuss my ideas and yours at your convenience so please take me up on it - Rob
| Daily Pivots | 1/4/12 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES H2 | 1283.58 | 1277.92 | 1274.08 | 1268.42 | 1264.58 |
| TF H2 | 762.7 | 756.2 | 751.5 | 745.0 | 740.3 |
| NQ H2 | 2336.00 | 2326.00 | 2318.25 | 2308.25 | 2300.50 |
| YM H2 | 12451 | 12394 | 12358 | 12301 | 12265 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM G2 | 103.875 | 103.450 | 102.700 | 102.275 | 101.525 |
| QG G2 | 3.063 | 3.032 | 2.983 | 2.952 | 2.903 |
| GRAINS | R2 | R1 | PIVOT | S1 | S2 |
| ZS H2 | 1253.1 | 1240.3 | 1231.7 | 1218.9 | 1210.3 |
| ZC H2 | 670.3 | 665.1 | 659.1 | 653.9 | 647.9 |
| ZW H2 | 677.8 | 668.0 | 660.8 | 651.0 | 643.8 |
| METALS | R2 | R1 | PIVOT | S1 | S2 |
| YG G2 | 1619.6 | 1612.4 | 1601.6 | 1594.4 | 1583.6 |
| YI H2 | 30.342 | 29.928 | 29.306 | 28.892 | 28.270 |