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 HERE. To see all MDA updates visit my blog page HERE.
Published 2/18/16 8:24 am central:
We are up a bit in the overnight with a high @ 1933.50 and a low of 1916.75. we have spent most of the time in the high 1920’s. On the downside the 1919.00-1917.00 level has been holding very stiff. This line was challenged several times late yesterday and just couldn’t seem to break through. At the end of yesterday’s session we saw crude oil API numbers released that showed an unexpected withdraw from their reports and caused crude to have a 3:30 central time $1 rally. This made it even harder for any type of bearish sell off at the close to take place, and had the market stiff in the overnight. Overseas we saw many other foreign stock markets ride the move up as well which is adding wind to the bulls sails. Crude is up around the same levels we saw at the end of their electronic close but had just challenged $32 a barrel and sold quickly. we could see some range bound volatility leading into the EIA storage report today, but after yesterday’s API number this could be factored in already, we will see. Everything technically speaking is in favor of the bulls right now. we are above the Weekly POC, Daily boxes and looking to break out of the 240 min and 60 min tops. we are also looking at the 30 min MDA snapshot chart right on the top of a buy zone. However, I am a bit tentative to buy here at the moment until we have the open. Ideally I would like to retract down to the POC and then make a momentum move higher, we see crude breaking $32. We also have a sell zone formed near the 1917.00 level and lows of the session that has held. This could be a good sell zone especially if we can get below 1911.00 which is the 240 min bottom. Right now we are favoring the bulls, but wouldn’t be surprised if we have sell off and look to challenge the 1900 level again. We will have to see what kind of volume comes out and where after the open and what other markets are doing.
Below you will find the MDA SnapShot Chart and the Market Action Scanner. Please reach out to me if you would like to have a trial of each of these tools I use. They work on all markets. I just showcase the ES at this time.
30 Min MDA SnapShot: (click image for larger window)
Market Action Scanner: (click image for larger window)
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. 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 – Free Edition
Market Action Scanner
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.
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!
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