Here you will find the most recent trade update released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot New Entry in the E-Mini S&P Market. To get these updates sent directly to your inbox, please subscribe for free HERE. To see all MDA updates visit my blog page HERE.
Published 2/26/16 7:58 am central:
We really have witnessed a changing of the tides of bears trying to push us back below to bulls taking this market up through previously seen highs, breaking through the 1950 level and moving our way closer to the Weekly Top levels @ 1975.00. We had a high of 1968.75 in the overnight and currently we are @ 1964.00 which is +13.50. This rally really started late in the day in yesterdays session and may have caught many shorts by surprise who were stubbornly holding on with us seeing some choppiness in the market between 1925-1932. Crude got a late in the day pop and then we followed suit shortly after and just kept going into the close. Crude this morning is up a $1.00 so just adding fuel to this bull train.
Looking at the Market Action Scanner, we can see that we are above the Daily and 240 min levels which carry’s more weight than the short term time frames. If we do get any selling pressure we will most likely move toward those top zones highlighted on the MAS chart below. So if we do get short know the context of this market and keep your eye on crude. We definitely could see a move lower in today’s session followed by another leg higher. I have highlighted 2 potential target areas to consider if you want to be short. All though I think the 2nd target may not been seen this week, but that is the volume area to keep an eye on.. If we do continue to move higher I think we are looking to target the 1975 Weekly TOP. So I would expect to see some volatility at that level. If we are long I would most likely look to take partial profits before we get there and then hold a few to see if momentum carry’s through.
Below you will see the 30 min Chart with our current levels. Buys are pinned near the highs so I am wanting to see the price and volume coming in when we hit the 8:30 open before jumping into those longs.
- Market Action Scanner Trial: http://buff.ly/1KHi7jv
- Market Dimensions Advisory Blog: http://buff.ly/1JIbxOS
- Online Application: http://buff.ly/1QuSVBd
30 Min MDA SnapShot Chart:(click for larger image)
Market Action Scanner: (click for larger image)
Economic Calendar: (click for larger image)
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process. Market Dimensions Advisory includes an email newsletter subscription. The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
Subscribe to Market Dimensions Advisory
Market Action Scanner
Market Dimensions Advisory - Get Inside the Mind of Commodity Market Professional Andrew Pawielski! The Market Dimensions Advisory leverages Andrew’s own live trading and a career of working directly with professional traders, commercial clients and institutional business. This deep understanding combined with countless hours of technical market analysis have made Andrew proficient with trading execution and the trading process.
Market Dimensions Advisory includes an email newsletter subscription.
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.