Emini Market Update And Podcast 07/08/14

(SPY)(GLD)(DIA)(GLD)(AAPL)

by DeWayne Reeves

S&P 500 Emini Market Update For July 8, 2014

#SP500 - #Emini  #Futures consider being short below 1958. We've already hit 2 of the LTP Targets I wrote about Saturday night. Last night our Alert to be short the #ES below 1969 triggered once for 2 points and then again for 16 points. (important prices and important areas are almost always tested)

However if you're just trading the Blueprint, it's 2 points and done for the day right? If you're not on the Blueprint we have the LTP below and also a Weekly Trading Zone below that. If the market runs north tonight, we're going to pass................

Doesn't mean you have to or should... just letting you know where our eyes are, at least for now.  

Also remember, FOMC Meeting Minutes are released tomorrow July 9th at 2pm EDT. This is a high impact report and possesses the potential to create high volatility across all market sectors. The minutes offer detailed insights regarding the FOMC's stance on monetary policy. Traders carefully examine them for clues regarding the outcome of future interest rate decisions.

Goldman Sachs (GS) until recently had forecast the first Fed Interest Rate Change under new Fed Chief Janet Yellen would not come until the first quarter of 2016. They have now updated their forecast to the final quarter of 2015.

S&P 500 Emini Chart

The hourly chart below covers the SP500 E-mini from the holiday close July 4th at 12pm EDT through early Tuesday evening July 8th. The yellow arrow shows the exact close for last week 1975.50, inside of our highest Weekly Trading Zone for last week. 

S&P 500 Emini Hourly Chart

Since then our first Alert of the week to be short below 1969 has been triggered offering 2 trade opportunities for a total range of 18 points. The market has reached a 38% Fibonacci Retracement from the new all time historic high put in last Thursday at 1978.25 to the swing low reached today at 1953.00. If this Fibonnacci level holds, we anticipate lower prices which could take us as low as 1941.00 by close of business this Friday.

Traders are cautioned to be flat and/or well protected by hard stops ahead of the FOMC Minutes.

Chicago Emini Seminar - This Weekend!

HOME OF THE CME!

This will be by far the best seminar of the Summer Tour yet. Not only will you spend 3 hours with Michael B., "America's Top Emini Trader" (according to Google) and his notorious White-Board, but word has it... Burt Schlichter will be there as well. 

PURE NUTS 'N BOLTS!

 

Things get pretty frantic in the Live Training Room most days, but for 3 hours this coming Saturday... time will stand still. Bring every question. We have no gimmicks, no rabbit up our sleeve.

This is business. This is YOUR business. 

 

Wall Street Has A New Address - YOURS!

 ___________________________________________________________________

Reserve Your Seat Today! 

• Where - Chicago - W Hotel - City Center
• When - Saturday July 12, 2014

CFRN EMINI METHOD ®

1 day VIP Pass~$497~

Trading's Not Easy - But It Can Be Simple!

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Emini Podcast for Tuesday 07/08/14