Tuesday, January 04, 2011

Emini Futures Trading / Inside Day

(QQQQ)(DIA)(SPY)(GLD)($SPX)

from the trading desk of CFRN...

Inside Day today leaves speculators uneasy! Yesterday, we were off to a great start with the E-Mini S&P500 reaching a high of $1272.50. Turn-around Tuesday somehow lacked the enthusiasm. We fell short of the optimism hitting a high of $1270.00. Note the low of the day was still higher than yesterday; hence, an “Inside Day”! Analysts may view the day as profit-taking as the extension yesterday from the December bullish trading in the E-Mini S&P 500 warranted some profit-taking. Another thought may be that the tangibles such as Crude Oil and the Agricultural Markets may have been pressured by the stronger US Dollar. Factory Orders rose, but the Federal Reserve Officials still find the economic recovery weak. The major concern is still unemployment. Until we see a sustainable growth that employs the varied sectors with full-time work, we still are vulnerable.

Tomorrow, we look forward to ISM Non-Manufacturing Index at 9:00 AM CST. The market seems to look forward to the Initial Jobless Claims Thursday to confirm any bullish sentiment.


E-Mini S&P 500




"Every new beginning...
comes from some other beginning's end."
Seneca

CFRN Staff Writers / D. Reeves - L. Burton - B. Schlichter  
 


Daily Market Profile Numbers for Wednesday 01/05/10
VAH -  1266.25
POC - 1264.25
VAL -  1261.75
 
Our Weekly Trading Zones and Chart Room Access are emailed to members prior to the open every Monday. Join us M-F from 9am-1pm Eastern for Live Charts, Live Trading, and Lively Discussion. 


Trading's not easy, but it can be simple!
Become a Member Today!
 
   
     
Pray Hard & Trade Safe!
CT

Monday, January 03, 2011

Emini Futures Trading / The January Effect

(QQQQ)(DIA)(SPY)(GLD)($SPX)

from the trading desk of CFRN...

Let’s talk January effect! Each year we look for it!  It is a calendar motivated market move to study.  It is based on price behavior seasonally expecting the stock market to trade lower in December and increase in January.  It does not always work out.  One basic theory is that for tax purposes, speculators may sell their positions in December and re-establish them in January.    We kicked off the 1st trading day of the year with a high of $1272.50 for a high (Note the high of our CFRN Weekly Trade Zones)!  Besides the technical points, US Manufacturing grew to 57 from 56.6 in November showing a steady 17 month rise.  Construction Spending came in higher as well confirming a bullish sentiment for the day.    The Global Economic Outlook was viewed as positive today. This of course coincides with the expectations later this week for a good Initial Jobless Claims, Retail Sales etc on the slate for Thursday and Friday.  Asset rebalancing should also keep the outlook positive for the E-Mini S&P 500 as Fund Managers look to allocate more money to commodities perhaps.  It will be contingent on some further positive data coming in.  We are off to a good start.

Tomorrow brings Factory Orders at 10am EST and FOMC Minutes at 2pm EST.



CFRN Staff Writers / D. Reeves - L. Burton - B. Schlichter  
 


Daily Market Profile Numbers for Thursday 12/23/10
VAH -  1271.00
POC - 1270.00
VAL -  1266.50
 
Our Weekly Trading Zones and Chart Room Access are emailed to members prior to the open every Monday. Join us M-F from 9am-1pm Eastern for Live Charts, Live Trading, and Lively Discussion. 


Trading's not easy, but it can be simple!
Become a Member Today!
 
   
     
Pray Hard & Trade Safe!
CT