S/R

As for today, the ES and NQ are once again at different support levels, though they are both dead on those levels. Maybe close the gap, then drop? Seems unlikely we will simply fall, though you never know.
 
Hmm,
NQ dropped right down to s2 overnight, also the low of 1/29.
1475

When she did this in RTH she met an awful lot of volume with it

I don't see any market moving reports due out today, ( not until Fri., employment situation @ 8:30)
 
Quote from sulong:

Hmm,
NQ dropped right down to s2 overnight, also the low of 1/29.
1475

When she did this in RTH she met an awful lot of volume with it

I don't see any market moving reports due out today, ( not until Fri., employment situation @ 8:30)
More...

Hi Sulong,

We do have some eco. news @ 10:00 (Factory Orders and ISM Non-Mfg.) Granted, not earth shattering compared to Employment situation, but still something to be aware of if they are out of range of consensus.

Good Luck!
 
Quote from sulong:


I don't see any market moving reports due out today, ( not until Fri., employment situation @ 8:30)
More...

You never know about the ISM. If a good setup presents itself long before 1000, I'll take it. But up toward 1000, I tend to stand aside. There's rarely just one opportunity to enter.
 
Quote from goforwand:

Hi Sulong,

We do have some eco. news @ 10:00 (Factory Orders and ISM Non-Mfg.) Granted, not earth shattering compared to Employment situation, but still something to be aware of if they are out of range of consensus.

Good Luck!
More...

Thanks goforwand,
As you can see, I'm still trying to figure out which eco. news/reports may be important to traders.

Perhaps I'll just assume that they all are important to some one(s), and be prepared either way.

anyway, thanks for bringing it to my attention.
 
I should also point out that there's an old NQ demand line from November that may be coming into play here. I say "old" because it may have lost its charge. But it may serve to prevent the NQ from reaching that Oct/Nov base.
 
Quote from dbphoenix:

As for today, the ES and NQ are once again at different support levels, though they are both dead on those levels. Maybe close the gap, then drop? Seems unlikely we will simply fall, though you never know.
More...

Looks like the former. Now let's see whether the bulls or the bears are in charge . . . :D
 
Just a suggestion, but since there's tentative S here (1475) from 1/29 and S2, it would be a good spot to take profits on at least one contract.
 
Took a live reversal trade this morning, entered a long 1474.5, price went 1.5 in my favor, at which point I moved my stop to BE. got stopped out a short time later.
No other entries since.
 

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