Tuesday, June 29, 2010

Emini Futures Trading / Midpoint 2010


Midpoint 2010
Sometimes you need to find the point that is exactly between two other points.

Technically, the Midpoint Formula is the following:


Granted, some folks with no real sense of adventure just looked at the calendar. Whichever approach you took the results are the same. Tomorrow is the last day of the second quarter and the end of the first half of 2010. According to some, how we trade tomorrow defines how the year will end (up or down). Our guest Mike Reed does an uncanny job of tracking some of the more obscure not widely known historical facts about the market and its behavior. We'll be sure to check with him tomorrow to see if he puts any stock in this one or not. 

No Daily Devotional Today
We arrived in studio this morning just as the webinar was beginning. For those of you who tune in more for the Christian than the Financial part of our Radio Network, I do apologize. I've already made peace with the Big Guy and I'm now singing Mea culpa to you for the absence of a daily devotional from today's broadcast. I can't remember the last time it happened so let's just move on... Fair enough?

The Live Trading Session with Michael from StackTrade and Leslie from Daniels Trading was most excellent. Michael has really spoiled us on the days that he brings live charts to the radio broadcast so it would appear that we will either need to work out a deal with him or just launch our own charts in the future.  It certainly adds depth to the live broadcast and makes every tick a teaching moment. For those of you who listen via iTunes or stream the podcast directly from the site here, for the time being your experience will remain one-dimensional. The storage space required to archive 2-3 hours of video 5 days a week will require us to make changes not only to our streaming software but also additional hardware upgrades. As most of you know I will be on Holiday all of next week. We will broadcast the remainder of this week and return to the airwaves on Monday July 12th.

Welcome to our New Listeners!
We saw a surge of traffic and sign-ups today immediately following the Page Trader webinar conducted by David Williams. We want to welcome you to our little corner of the world where you'll find a unique group of eclectic Market Professionals who not only trade for a living, but have also committed their time and resources towards helping you find success in your own Trading Journey. Trading can be a very solitary experience. As a new member of the CFRN Family, you can now wake up each day knowing that don't have to trade alone. Got questions? Need help? Our contact info is all over the site so don't hesitate to drop us a line or pick up the phone. We broadcast LIVE every trading day from 11AM-1PM Eastern.

Page Trader Daily Results
David has been a part of our daily broadcast now for over 4 years. If you like what you heard in today's webby, be sure to tune in right here every trading day for a dose of market insight from the mind of the Master Forecaster himself. He's funny, provocative, highly opinionated and enjoys long walks on the beach. Seriously though, our spirited and esoteric discussions know absolutely no boundaries. From the Manchurian President to Spatial Relationships, tune in and develop your own Spatial Relationship with the the man, the legend, my friend - David Williams.(note: Esoteric knowledge is that which is available only to a narrow circle of "enlightened", "initiated", or specially educated people. Hey, that's now you!)

Trade Stalker Daily Results
In last night's update I stated "the market is wound up kind of tight" and the market unwound on Tuesday's open. The ES opened down 15.50 points, and that was the high of the day, as the market broke key support areas. The 1038 updated support gave a bounce, but from 1037.50 the ES got back to the 1047-1048 updated resistance and that was it for the bounce. Via Instant Message, guidance and updated resistance/ support was given to help the group, per usual. I'll be giving audio updates and market thoughts again on Wednesday.

At TradeStalker.com we offer a unique insight to the market that only 27 years of experience can provide. Put us in your corner beginning tonight. Click Here or call us at 260-750-2447

Weekly Trading Zones Daily Results
The charts don't need a lot of explaining at this point. Yellow rectangles simply highlight the amount of time price consolidated before making its move. The red arrow shows the entry we discussed on how to participate in the hourly road map David gave out live on Monday. We drew a trend line from Friday's low to Monday's low. We said if that trend line was broken followed by a break of the Weekly Trading Zone, that would be a double confirmation that the trade was in progress. Using our humble EMA would have kept you in all the way down from 1064 to 1038. Keep in mind that each candle represents 30 minutes. On the 3rd and final chart below we are still building our Chinese Puzzle off the weekly price channel that began 2 weeks ago. We drew a small trend line Sunday night from Friday's lows to the then current Globex lows on the YM. We said if the trend line broke to look for possible support at the top of the previous channel. The question now of course is "Will it hold?"

Pray Hard & Trade Safe!

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