January 5th, 2012 Posted in Uncategorized
Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.
Equity index futures were down over night on more Euro fears. (I know it's getting old) But on the home front, Jobless Claims came in lower than expected at 372,000 vs 375,000 estimate. CNBC commentator Rick Santelli pointed out this morning that for the past few years, Jobless Claims ended the year at its best levels. Perhaps he's being a buzz-kill or he's merely realizing that seasonal hiring trends may explain why this number is peaking at the end of the year, the Holiday Season
Trading Levels
You'll notice that today's trading levels for ES H2 and TF H2 have tight ranges between today's Pivot and Support 1. You can extrapolate several means to this but simply, I look at it as not enough risk/reward to short these markets at current levels - ES H2 1269.00 and TF H2 740.0.
I'll be looking for ES H2 and TF H2 to trade below their respective Support 1 levels before taking a shot to go long. If you're not paying attention, equity index futures are on the verge of breaking out to the upside. If it happens, it will be a very very powerful move, possibly taking ES H2 to 1330/1340 range. I mentioned this on my post dated 12/27/11.
Trade Ideas for Today
ES H2 - If this market falls below today's S1 of 1266.08 and holds 1260.00, I'll be looking to buy this market on a stop. For example, one could place an order to BUY ES H2 at 1266.25 STOP.
TF H2 - Same as above except one could place an order to BUY TF H2 at 741.7 STOP.
Please contact me BEFORE trading my ideas or levels below. If you don't know how to trade my levels or manage the associated risk, do not trade these unless you talk to me first.
Have a great day!
Rob 312.224.7882 / 866.312.4965
| Daily Pivots | 1/5/12 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES H2 | 1280.92 | 1277.08 | 1269.92 | 1266.08 | 1258.92 |
| TF H2 | 752.6 | 749.3 | 744.5 | 741.2 | 736.4 |
| NQ H2 | 2347.25 | 2338.00 | 2320.25 | 2311.00 | 2293.25 |
| YM H2 | 12425 | 12390 | 12332 | 12297 | 12239 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM G2 | 104.550 | 103.900 | 103.075 | 102.425 | 101.600 |
| QG G2 | 3.168 | 3.132 | 3.073 | 3.037 | 2.978 |
| GRAINS | R2 | R1 | PIVOT | S1 | S2 |
| ZS H2 | 1242.5 | 1236.5 | 1229.5 | 1223.5 | 1216.5 |
| ZC H2 | 663.5 | 661.3 | 657.3 | 655.1 | 651.1 |
| ZW H2 | 662.5 | 656.3 | 650.7 | 644.5 | 638.9 |
| METALS | R2 | R1 | PIVOT | S1 | S2 |
| YG G2 | 1632.6 | 1623.3 | 1611.1 | 1601.8 | 1589.6 |
| YI H2 | 29.706 | 29.388 | 29.208 | 28.890 | 28.710 |