Here you will find the most recent trade update released today in the Market Dimensions Advisory. This update is showcasing a MDA SnapShot New Entry in the E-Mini S&P Market. To get these updates sent directly to your inbox, please subscribe for free.
Published 2/16/16 8:09 am central:
We are back in the office after a holiday session yesterday. We had quite the bullish uptick in the market based on the rumors of a production freeze coming from OPEC which caused a major uptick in the crude markets. The ES market was knocking on the door of 1900.00 in the overnight and has since retraced. we are currently breaking/challenging the bottom levels on the 30 min, 60 min and 240 min charts. This could send us toward the daily POC of 1862. On the other hand, if we can break 1885.00 level on the open we could see us challenge the highs on the day and look to break into the 1900.00 price range. However, I think we will be heavily dependent on what the crude market it does. It is down about $2 from the highs we saw in the overnight, so could have some room to run back up to those prices.
Below you will see a 30 Min SnapShot chart, highlighting the current chart. I have highlighted the buy zone and risk associated with that trade. As well as the Market Action Scanner showing both bull and bear targets. If you are looking to sell this market I would suggest selling these levels but keep risk tight. If we break 1885.00 we could see the high’s tested.
Remember, these charts and tools work on all markets. I just happen to showcase the ES in this newsletter at this time. I am able to use these technical indicators to highlight similar plays in all markets. Please inquire with me if you have a market you want to review.
30 Min SnapShot Chart:
Market Action Scanner
Subscribe to Market Dimensions Advisory – Free Edition
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading.
Market Dimensions Advisory – Free Edition includes an email newsletter subscription.
Market Action Scanner
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.