Dec. eMini S&P Futures: Breakout setup (NR7, doji). Chart based breakout levels are yesterday’s high of 1979.00 and low of 1968.00. Trade or Fade (my breakout trade advisory) has breakout levels at 1984.25 up and 1969.25 down.
Dec. eMini S&P Futures: It’s on the Buy day of the Taylor Trading Technique cycle. Friday’s low of 1979.50 is the “official Buy day reference price; watch last Wednesday’s low of 1973.75 as a pivot point for a rally. Upside objectives are 1985.50 and then 1980.
Dec. eMini S&P Futures: It’s a Taylor Trading Technique Sell Short day. Yesterday’s high of 1999.50 is the SS day reference price; downside targets are 1985.75 and then 1982.50.
Happy Friday! If there is one thing to take away from this week in trading, its this…take what the market gives you, when it gives it to you!
December eMini SP Futures: It’s a Taylor Trading Technique Sell day, however, with the daily trend turning down I might consider being short below the Fibonacci retracement level at 1981.00. Support is at 1977.75 (20 day EMA) and then yesterday’s low of 1973.75.
Sept. eMini S&P Futures: “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated- use the overnight low of 1985.50 and Tuesday’s low of 1983.25 as reference prices. On the upside watch last Thursday’s low of 1988.25 as a pivot point.
The stock index futures had interesting setups for today. It was the second bullish session, so the Taylor Trading Technique would suggest a Sell Short day for Tuesday. They also had NR4 days on Monday, which told us to anticipate a breakout move for Tuesday.
Sept. eMini S&P Futures: Monday was an ID, NR4 day- will we see a breakout move today? I’d watch 2005.25 (trend line) as the first reference price for an upside breakout and Monday’s low of 1994.00 on the downside.
According to the Taylor Trading Technique, a Sell day is a transition day. It is a session in which Taylor’s “smart money” traders sell out long positions they bought on the previous (Buy) day. The TTT Sell day is the session preceding a Sell Short day, in which the “smart money” shorts the market as it tops out and then sells off.
Sept eMini S&P Futures: It’s on the Sell day of the Taylor Trading Technique cycle; this suggests we look for a two sided trade today. It spent much of the night in a channel between 2001.75 and 2004.50.