Learn to Trade Emini Futures - The Golden Cross

Today in the S&P500 we witnessed an occurrence akin to spotting a bald eagle which only happens once in a blue moon or so - The Golden Cross!

THE GOLDEN CROSS 

The "Golden Cross" aside from being the polar opposite of its evil twin the "Death Cross" is best described as follows:

On a daily chart of the S&P 500 (SPX.X)($SPX) the 50 period Simple Moving Average crosses above the 200 period Simple Moving Average. 

That's it? Yes. Is it a big deal?

Let's look at the statistics and then you can arrive at your own conclusion. Since 1950 the "Golden Cross" has appeared 31 times. The evil twin "Death Cross" (50 Period SMA drops below 200 Period SMA) has shown up 32 times. I don't want to spoil your numeric joy ride but let me say this -

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Learn to Trade Emini Futures - Dynamic Support And Resistance

The Emini S&P500 Futures traded inside a 15 point range today giving traders opportunity both on the long and short side of market. The Euro was down significantly today on poor employment news. Standard & Poor’s/Case-Shiller home price index dealt hopes of recovery here at home a cruel and unusual blow. I concur with my co-host David and look for a low tonight if it's not already in and then a potential rally into our own employment numbers Thursday and Friday. If we break below 1300 overnight on the Emini Futures, scratch the rally fantasy.

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Learn to Trade Emini Futures - Fixed Support And Resistance

FIXED SUPPORT AND RESISTANCE

The S&P500 Emini Futures opened the Globex session last night at our Fixed Resistance level 1313/1314. By the London open price dropped 12 points to our Fixed Support level 1301/1302. Below is a chart that shows exactly what happened:

S&P 500 Emini Futures (ESH12) 12 Point Drop on Globex

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Learn To Trade Emini Futures - Support And Resistance

The S&P500 Emini Futures spent both the Globex and day session trading in and around our Weekly Trading Zones: 1315/1316 on the upside and 1309/1310 on the downside. Price did spike to 1319.25 pre-market and spiked as low as 1307 after the U.S. open. The following is an hourly Globex chart which shows that even though we traded inside a tight range the entire session, opportunities were available for both the Bull and Bear.

S&P 500 Emini Futures Hourly Chart 01/27/12

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Learn to Trade Emini Futures - Emini Podcast 01/26/12

The S&P 500 Emini Futures resumed the rally that began yesterday after the FOMC statement. High of the day today was 1329.75 or just 1 tick short of our highest Weekly Tading Zone @ 1330/1331. Partners were given this number before the market opened Monday morning. We do not expect the week to close above that zone.

Partners Meeting Tonight 9PM EST -
We will be demonstrating a new technique for trading the Euro 6E. DO NOT MISS THIS!

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Learn to Trade Emini Futures - Using The VIX / $VIX

What is the VIX?

The VIX is the CBOE market volatility index. It is essentially a measurement of expected market volatility over the next 30 days. Volatility appears to increase when investors are "worried" about the markets and by extension have become uncertain about what the immediate future may hold. This is why you will often hear the $VIX referred to as the "index of fear".

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