Emini Futures | Emini Range Charts




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The S&P 500 Index SPX fell 7.69 points, or 0.6%, to 1,330.66, ending below a key technical support, at 1335. Down 9 of the last 10 sessions, the Dow Jones Industrial Average DJIA dropped 63.35 points, or 0.5%, to 12,632.
CFRN Partners spent the day trading inside of a range defined by our Weekly Trading Zones. Is it possible to wring 35 points out of a 7 point range? Probably not, but it can be fun trying...
The S&P Emini Futures dropped 14 points after hours when JP Morgan CEO Jamie Dimon announced a $2 billion trade loss in their prop trading department. During the surprise conference call Dimon said the loss was a "big mistake" but that it did not violate the Volcker Rule. He also said, "These were egregious mistakes, they were self-inflicted,” and that "the losses could easily get worse this quarter and beyond."
The S&P 500 Emini Futures showed a spark of volatility today that was quite invigorating. To put on a trade and watch it advance to your target before boredom or nail biting sets in was incredibly refreshing to see for a change. Let's keep our fingers crossed that it continues
Once upon a time in a land not so far away, global eyes were all focused on the US Economic Reports. Fed, Jos, Unemployment, you name it and we were the clock by which the world set their Swatches. The times they are a changing. Even if you are not actively trading the Asian or European session, you still need to train yourself to be aware of all High Impact Global Economic Reports. Tomorrow we have 9 due out in a 5 hour period between 4:30AM and 9:30AM EDT spanning Europe, Canada and the US.
Wall Street truly climbed the proverbial wall of worry today. After a 198-point drop, the Dow Jones Industrial Average closed down only 76 points while the S&P 500 Index lost just under 6 points. Gold futures fell nearly $35 an ounce and Crude slid for a fifth session, with the June contract losing 1% to settle at $97.01 a barrel.
The S&P 500 Emini Futures rallied today and more than closed the gap created on Sunday night's Globex open. The Bank of Japan spent 39.7 Billion Yen on Stock ETF's today. They also acquired 2.3 Billion in REIT's. As you can see from the chart below the action was sufficient to create a 13 point profit on last night's Tweet but so far the Asian markets tonight look somewhat soft, in particular China. We have a Tweet in the wind tonight as well. As always, wear a hard stop.
Tonight on Globex the markets gapped open substantialy lower. We currently have a larger time frame setup waiting to be triggered. If you don't know the setup, install the CFRN Emini Toolbar.
As we were waiting it seemed like a perfect opportunity to show an example of Trading Price Action on a 5 minute chart. Here's a video of the trade using the S&P 500 Emini Futures.
The S&P 500 Emini Futures finished the week on a downbeat note @ 1362.50 as a result of a weakening jobs report and continued uncertainty in Europe. The biggest news of the day was Crude trading back below $100 a barrel. Down almost $5 at one point during the session Crude closed @ $98.59 off $3.59 from Thursday's close. The move in Crude came as no surprise to listeners of our Daily Live Broadcast.
As you recall last week, the S&P Emini closed 1 point below our highest Weekly Trading Zone and this week we closed 2 ticks below our lowest Weekly Trading Zone. Here is a chart of the weekly close -