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Home / Futures Blog / ES end of day sell off reviewed and where do we go from here? 2/29/16

ES end of day sell off reviewed and where do we go from here? 2/29/16

February 29, 2016 by Andrew Pawielski

Here you will find the most recent  update released today in the Market Dimensions Advisory.  This update is showcasing a review of the S&P and the levels associated with the MDA SnapShot highlighting the move, as well as analysis on where we may go from here.  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 2/29/16 3:28 pm central:

Traders,

This morning we didn’t really have our levels in play we were above the boxes near the open from the early morning move higher.  However, we did see these 30 min levels update twice today. I do my very best to notify followers of when levels change or where I am looking to execute trades. Unfortunately with fast moving markets and other duties to my  brokerage business I do not have the time to create the similar morning update emails as I do during the session. That is why I encourage everybody who is following along and trading to try and utilize the tools I use so you can see them develop in real-time on your own and take action. Or, if you do not have the time to do that, I would inquire into working directly with me and my higher service level arrangement where I can provide better notifications.  (I am happy to discuss this with interested prospects any time near the close of a session).

That being said, I wanted to showcase some of the levels that worked today.  Especially the sell off at the end of the day as we had a sell zone develop and was hit.  The sell off went through our 2nd sell zone of the day and targeted the sell zone area presented early this morning. I was unable to  participate on this trade for my clients following POA, as I had been in the long and was done for the day, but I did want to pinpoint the move. I spoke to several online traders who confirmed with me the zone and took action.  I also have included an updated market action scanner for you to review as well.  We will see what the overnight brings and what levels we have tomorrow.

If you would like to gain access to these tools I use, just reach out to me and let me know. You can find some of the resources here.

·         Market Action Scanner Trial: http://buff.ly/1KHi7jv 

·         Market Action Scanner Webinar: http://ow.ly/YNTLl

30 Min SnapShot Showing Sell off (click for larger image)
Source: dt Pro
Source: dt Pro

Market action Scanner updated (click for larger image)

Source: Market Action Scanner
Source: Market Action Scanner

 

Market Action Scanner

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Risk Disclosure

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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Market Dimensions Advisory (MDA)

About Andrew Pawielski

Since 2007, Andrew has been a series 3 registered Senior Futures and Options Broker with Daniels Trading. During this decade plus tenure, Andrew has worked with traders in all different strategies, capital sizes and experience levels throughout the world.

Having this professional brokerage experience and being a futures market participant led Andrew to found the educational trading service Market Dimensions Advisory (MDA). MDA showcases Andrew’s expert technical trading analysis using the TAS MarketProfile tools and other highly regarded volume and order-flow based trading indicators. This professional trading service is a compilation of all Andrew’s trading experiences, concepts, methodologies and real-time trading ideas.

It is Andrew’s goal to empower traders, and through his services, move them from fear to familiarity through frequency.

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Risk Disclosure

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.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

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 third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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