January 17th, 2012 Posted in Uncategorized
Futures and futures options trading involve substantial risk, and therefore are not suitable for all investors.
Welcome back. Hope you enjoyed the long weekend.
We'll be looking for a higher opening this morning for equity and energy futures although they are off their overnight highs. Much of the push is coming from better than expected bond auctions out of Europe despite ratings downgrades that occurred after Friday's close. The key here is the Euro Currency. If you look at a chart, it's almost identical to that of ES H2.
The equity index futures rally that I've been outlining since December 17th is still in tact and moving begrudgingly higher. But that's how these "stealth rallies' happen. A Wall of Worry if you will.
You'll find today's trading levels below. In addition, I've included the trading levels that I generate for longer term trading that calculate levels on a week to week basis.
For ES H2, you'll notice that today's Daily Pivot and Weekly Pivot are almost identical at 1284.00. That said, 1284 will be a critical level if this market is to go higher.
Trade Idea
I'll be looking for ES H2 to fall further from where it's trading now, 1296.50. I'd like to see it fall below 1295.25 to set up a buy at today's S1 or BUY ES H2 at 1295.50 STOP, when and if, ES H2 falls below 1295 AND holds above 1290.00.
If you have questions about this trade or commentary, feel free to call me directly at 312.224.7882.
Have a great trading day - Rob
| Daily Pivots | 1/17/12 | ||||
| EQUITIES | R2 | R1 | PIVOT | S1 | S2 |
| ES H2 | 1301.00 | 1295.25 | 1284.00 | 1278.25 | 1267.00 |
| TF H2 | 770.4 | 767.3 | 761.3 | 758.2 | 752.2 |
| NQ H2 | 2392.58 | 2383.67 | 2366.08 | 2357.17 | 2339.58 |
| YM H2 | 12492 | 12441 | 12345 | 12294 | 12198 |
| ENERGIES | R2 | R1 | PIVOT | S1 | S2 |
| QM H2 | 99.992 | 99.433 | 98.692 | 98.133 | 97.392 |
| QG G2 | 2.738 | 2.707 | 2.678 | 2.647 | 2.618 |
| GRAINS | R2 | R1 | PIVOT | S1 | S2 |
| ZS H2 | 1195.3 | 1176.7 | 1167.1 | 1148.5 | 1138.9 |
| ZC H2 | 615.8 | 607.6 | 603.0 | 594.8 | 590.2 |
| ZW H2 | 612.3 | 606.5 | 602.7 | 596.9 | 593.1 |
| METALS | R2 | R1 | PIVOT | S1 | S2 |
| YG G2 | 1650.3 | 1642.5 | 1634.1 | 1626.3 | 1617.9 |
| YI H2 | 30.214 | 29.922 | 29.663 | 29.371 | 29.112 |
| Weekly Pivots | |||||
| Starting | 1/17/12 | ||||
| S & P 500 | R2 | R1 | PIVOT | S1 | S2 |
| ES H2 | 1294.60 | 1290.45 | 1284.10 | 1279.95 | 1273.60 |
| RUSSELL 2K | R2 | R1 | PIVOT | S1 | S2 |
| TF H2 | 768.1 | 765.0 | 759.9 | 756.8 | 751.7 |
| NASDAQ 100 | R2 | R1 | PIVOT | S1 | S2 |
| NQ H2 | 2386.38 | 2376.42 | 2363.58 | 2353.62 | 2340.78 |
| DOW JONES | R2 | R1 | PIVOT | S1 | S2 |
| YM H2 | 12462 | 12423 | 12368 | 12329 | 12274 |
| MINI CRUDE | R2 | R1 | PIVOT | S1 | S2 |
| QM H2 | 102.887 | 101.773 | 100.942 | 99.828 | 98.997 |
| MINI NAT GAS | R2 | R1 | PIVOT | S1 | S2 |
| QG G2 | 2.908 | 2.864 | 2.826 | 2.782 | 2.744 |
| MINI BEANS | R2 | R1 | PIVOT | S1 | S2 |
| ZS H2 | 1222.1 | 1208.0 | 1197.7 | 1183.6 | 1173.4 |
| MINI CORN | R2 | R1 | PIVOT | S1 | S2 |
| ZC H2 | 643.9 | 639.0 | 635.0 | 630.2 | 626.1 |
| MINI WHEAT | R2 | R1 | PIVOT | S1 | S2 |
| ZW H2 | 637.0 | 631.4 | 624.9 | 619.3 | 612.9 |
| MINI GOLD | R2 | R1 | PIVOT | S1 | S2 |
| YG G2 | 1649.3 | 1641.0 | 1634.9 | 1626.6 | 1620.6 |
| MINI SILVER | R2 | R1 | PIVOT | S1 | S2 |
| YI H2 | 30.292 | 29.997 | 29.737 | 29.443 | 29.183 |