Monday, September 30, 2013

Live Day Trading Video of the ES 9/30/13

Using pure order flow & price action


Morning Update for Monday, 9/30/13

Major Support/Resistance Levels- ES






*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment: Bullish
Overnight Inventory Change: Net short
Inside Day/Outside Day: Outside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up: 6J
Down:NG, CL, NKD, SI, Indexes



News for the day:

Chicago PMI: 9:45a
Dallas Fed Mfg Survey: 10:30a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: The indexes gapped down once markets opened on Sunday evening with the pending news of a potential government shutdown.  Things considered, 1669.5-1670.5 will be the area to watch for support as this is the location of the S3 pivot, S2 weekly pivot, and VPOC from 9/9.



Stock of the Day: Canadian Solar Inc (CSIQ)- At 52 week highs



ES Daily Trend:Neutral/Bullish





ES Weekly Trend:  Bullish




ES Monthly Trend:  Strongly Bullish








CloudTrader Weekend Update (9/29/13)

Weekly Cloud Analysis of the week that was in the markets and predictions for the week ahead!


Friday, September 27, 2013

Live Day Trading Video Lesson on scalping the ES


Morning Update for Friday, 9/27/13

Major Support/Resistance Levels- ES






*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bullish
Overnight Inventory Change: Net short
Inside Day/Outside Day: Outside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up: GC, 6E
Down: SB, NKD, Indexes



News for the day:

Personal Income & Outlays: 8:30a
Consumer Sentiment: 9:55a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: Prices opened below value area and below previous day low.  As a result, watch for a test of 1685.75 as the line in the sand. If prices lift above, edge to the bulls and a balancing day can be expected inside value area. However, if there is continued selling, the profit targets should be the daily/weekly pivot levels at 1680.25 & 1678.5 respectively.



Stock of the Day: JC Penney (JCP)- 52 week lows





ES Daily Trend: Bullish




ES Weekly Trend:  Strongly Bullish




ES Monthly Trend:  Strongly Bullish








Thursday, September 26, 2013

Morning Update for Thursday, 9/26/13

Major Support/Resistance Levels- ES






*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment: Bearish
Overnight Inventory Change: Net long
Inside Day/Outside Day: Inside
Location of price relative to market profile: At POC
Notable overnight futures markets changes:
Up: NKD, SI, CL
Down:ZC



News for the day:

GDP: 8:30a
Jobless Claims: 8:30a
Pending Home Sales Index: 10:00a




*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: The ES looks to open within the value area so the higher probability is for two-sided action. The overnight inventory is net long so it will be important to see what traders do at the open. Watch for large size and if there is a liquidation, the target will be the gap fill at 1686.25, which also happens to be value area low. If buyers lift the offer, then the key resistance level will be the high volume point at 1695.



Stock of the Day: Nike (NKE)- Earnings after the bell






ES Daily Trend: Bullish



ES Weekly Trend:  Strongly Bullish




ES Monthly Trend:  Strongly Bullish








Wednesday, September 25, 2013

Morning Update for Wednesday, 9/25/13

Major Support/Resistance Levels- ES




*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment: Bearish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: Below value area
Notable overnight futures markets changes:
Up: RB, HO, ZW, PL, VX, NG, CL
Down: NKD



News for the day:

Durable Goods Orders: 8:30a
New Home Sales: 10:00a
Petroleum Status Report: 10:30a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day:The ES continues to build value in the 1690-1700 range.  1685 & 1680.75 are the natural targets if prices sell off as they are the VPOCs from 9/12 & 9/13. If prices can rise above 1701 (previous day high) then clear edge to the bulls.  The price action within the value area should be choppy so manage trades accordingly and take profits quicker. Remember: when short, cover into weakness; when long, sell into strength.



Stock of the Day: Yahoo (YHOO)- New 52 week highs yesterday





ES Daily Trend: Bullish



ES Weekly Trend:  Strongly Bullish




ES Monthly Trend:  Strongly Bullish








Tuesday, September 24, 2013

Morning Update for Tuesday, 9/24/13

Major Support/Resistance Levels- ES




*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bearish
Overnight Inventory Change: Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile:Near value area low
Notable overnight futures markets changes:
Up: ZS, NKD
Down:SI, GC



News for the day:

S&P Case Shiller Index: 9:00a
Consumer Confidence: 10:00a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day:The ES cleared the 1700 level yesterday and gave back all of the gains after the Fed announcement. There has been significant volume building between 1690 & 1700, so any price action in the area will most likely be choppy. If prices sell below 1690 then the natural target will be the VPOC at 1685.



Stock of the Day: Facebook (FB)- Upgraded @ Citibank






ES Daily Trend: Bullish





ES Weekly Trend:  Strongly Bullish




ES Monthly Trend:  Strongly Bullish








Monday, September 23, 2013

Morning Update for Monday, 9/23/13

Major Support/Resistance Levels- ES






*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bearish
Overnight Inventory Change: Net long
Inside Day/Outside Day: Inside
Location of price relative to market profile: Near POC
Notable overnight futures markets changes:
Up: --
Down:SI, GC, NG



News for the day:

PMI Manufacturing Index Flash: 8:58a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day:The ES gave back nearly all the gains after the Fed announcement on Wednesday. As a result, 1700 will be a significant level to watch both because it is a whole number as well as the level where prices were at before the Fed news.  1707 is the POC so expect range bound action while price is in the value area.



Stock of the Day:Blackberry (BBRY)




ES Daily Trend: Bullish





ES Weekly Trend:  Strongly Bullish




ES Monthly Trend:  Strongly Bullish





Sunday, September 22, 2013

Weekend Update 9/22/13

What a week in the markets after the Fed announcement on Wednesday. Will the volatility continue? Watch the video for answers. 

Friday, September 20, 2013

Morning Update for Friday, 9/20/13

Major Support/Resistance Levels- ES






*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment: Bearish
Overnight Inventory Change:Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: Near POC
Notable overnight futures markets changes:
Up: --
Down: SI, ZS, GC 



News for the day:

NONE


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: Today is Quadruple witching, meaning that stock options, stock index options, futures contracts, single stock futures will expire.  As a result, the high probability is for range bound/choppy price action.  Look to fade the value area and previous day highs/lows.



Stock of the Day: Apple, Inc. (AAPL)











ES Daily Trend:Bullish





ES Weekly Trend:  Strongly Bullish








ES Monthly Trend:  Strongly Bullish








Thursday, September 19, 2013

Morning Update for Thursday, 9/19/13

Major Support/Resistance Levels- ES




*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bullish
Overnight Inventory Change:Net long
Inside Day/Outside Day:Outside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up:GC, SI, ZC, NG, CL Indexes
Down: 6J



News for the day:

Jobless Claims: 8:30a
Existing Home Sales: 10:00a
Philly Fed Survey: 10:00a


*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: Big Ben does it again. Prices soared yesterday after announcing that QE is still on the table.  As a result, the ES will open above Wednesday's high (1723.75) and value area. The higher probability is very much with the bulls given the FOMC catalyst, but watch for some profit taking at the open and test of 1723.75 before initiating any long trades.



Stock of the Day: Priceline.com (PCLN)- reached $1,000 yesterday




ES Daily Trend:Bullish





ES Weekly Trend:  Strongly Bullish








ES Monthly Trend:  Strongly Bullish








Wednesday, September 18, 2013

Morning Update for Wednesday, 9/18/13

Major Support/Resistance Levels- ES




*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bullish
Overnight Inventory Change: Neutral
Inside Day/Outside Day:Outside
Location of price relative to market profile: Above value area
Notable overnight futures markets changes:
Up: --
Down: SI, GC, NG



News for the day:

Housing Starts: 8:30a
Petroleum Status: 10:30a
FOMC Meeting Announcement: 2:00p

*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: Everything hinges on the FOMC minutes this afternoon.  As a result, the higher probability is for prices to trade within range until 2:00p, especially during the lunchtime before heightened volatility ensues when the news is released. 




Stock of the Day: Fedex (FDX)- Reported earnings









ES Daily Trend:Bullish





ES Weekly Trend:  Strongly Bullish








ES Monthly Trend:  Strongly Bullish








Tuesday, September 17, 2013

Morning Update for Tuesday, 9/17/13

Major Support/Resistance Levels- ES




*Highlighted regions denote strong areas of support (green)/resistance (red) & mid-range level (brown)

Daily Outlook

Prior Day Market Sentiment:Bullish
Overnight Inventory Change:Neutral
Inside Day/Outside Day: Inside
Location of price relative to market profile: At value area low
Notable overnight futures markets changes:
Up: ZC, ZW, ZO, ZS
Down: NKD



News for the day:

Consumer Price Index: 8:30a
Treasury International Capital: 9:00a
Housing Market Index: 10:00a

*Red highlight means the news is a market moving event;
yellow highlight means the news merits attention


Projected ES price action for the day: Neutral. Despite the large gap up on Monday, prices mostly sold off during the day, resulting in a wide value area.  As a result, watch for a test of value area high/low. There is a large volume node between 1680-1685 and should serve as a key support area. On the upside, the all-time high of 1705 continues to be the key point of reference.




Stock of the Day: ExOne (XONE)







ES Daily Trend:Bullish





ES Weekly Trend:  Strongly Bullish








ES Monthly Trend:  Strongly Bullish