Sunday, January 24, 2010

Weekly Trading Zones / Emini Futures Trading - Sunday January, 24, 2010

(QQQQ)(DIA)(SPY)(XLF)(GLD)

S&P 500 Emini Futures Trading (ES)

1156/1157
1127/1128
1109/1110
1097/1098
1079/1080
1068/1069
1038/1039


Dow Emini (YM)

10,740
10,476
10,314
10,212
10,050
 9,948
 9,684


Nasdaq Emini (NQ)

1931/1932
1871/1872
1834/1835
1811/1812
1774/1775
1752/1753
1692/1693


March Soybeans (SH0)

973/974
962/963
956
950/951
944/945
939/940
927/928



On his way to the futures market, the boy met a stranger.
"I will give you five magic beans indicators for your cow chart,"
the stranger offered. Jack  was unsure and hesitated for a while but
then, enticed by the idea of such an extraordinary deal,
he decided to accept.


Jack and the Beanstalk Mural.  Jack trades cow for beans.


JACK - "Sure, I traded the cow for Magic Beans...
Magic Beans that we can grow more cows with!
Who's simple NOW Ma?"


Go ahead, laugh at Jack. Now go look in the mirror and have a really good belly-laugh! The truth is, we've all bought our share of Magic Beans from the many vendors who line the yellow brick road that leads to Wall Street. (Anyone can mix metaphors but it takes real talent to mix Fairy-Tales)


Well this is no Fairy Tale and the numbers above are no Magic Beans. These numbers are simply areas where we believe the market will need to make a decision. Think Football field here. (Here come the mixed metaphors.) Which team is in possession? Where are we on the field? The Rumpled One gives away an indicator that turns your chart into a gridiron based on Fibs. The point I'm making is that this concept or idea is not unique to this blog or this trader. Also, our magic beans are not a fib blend. They are simply as stated, decision points. A trader can use them in any number of ways from Profit Targets to Stop Losses. They are not predictions, merely guidelines for the upcoming week. Inside of these Weekly Trading Zones, I encourage you to check out TradeStalker and PageTrader on a daily basis for intra-day levels that really narrow the playing field.

As Always,
Pray Hard & Trade Safe
CT

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