January 13th, 2012 Posted in Uncategorized

Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.

To start the year, financials have been one of the best performing sectors in equity markets. Today's report from JP Morgan will challenge that trend today as the investment bank's earnings release disappointed with a 23% drop in profits.

Really this isn't that big of a deal. Most realize and know that investment banks are suffering right now. All you have to do is look at the daily trading volume to know market participation is down. Question is - when or will it come bank?

Consumer Sentiment is due out later this morning at 8:55 CST.

Trading Levels

Equity index futures are off this morning following the JPM report but as I mentioned it's not that surprising and markets reflect that.

As I write this, ES H2 is trading at 1282.00 and dropping. I don't see this continuing too much further. My indicators are showing short term oversold conditions. Couple that with that the fact ES H2 is trading below today's S1 of 1284.42 and we have a trading opportunity!

Look to buy ES H2 on a buy stop above today's Support 1 of 1284.42 - i.e. BUY ES H2 at 1284.50 STOP.

Feel free to call me if you have questions - 312.224.7882 - Rob

Have a great weekend!

 

Daily Pivots	1/13/12
EQUITIES	R2	R1	PIVOT	S1	S2
ES H2	1300.58	1296.42	1288.58	1284.42	1276.58
TF H2	775.0	771.5	765.1	761.6	755.2
NQ H2	2396.58	2387.92	2371.83	2363.17	2347.08
YM H2	12489	12451	12387	12349	12285
ENERGIES	R2	R1	PIVOT	S1	S2
QM G2	104.392	101.733	100.317	97.658	96.242
QG G2	2.777	2.738	2.702	2.663	2.627
GRAINS	R2	R1	PIVOT	S1	S2
ZS H2	1211.0	1197.6	1173.8	1160.4	1136.6
ZC H2	616.2	613.8	612.6	610.2	609.0
ZW H2	623.0	614.0	603.0	594.0	583.0
METALS	R2	R1	PIVOT	S1	S2
YG G2	1669.8	1657.9	1651.5	1639.6	1633.2
YI H2	30.994	30.547	30.227	29.780	29.460