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Conflicting Economic Reports - Traders Indecisive The ES futures stayed above the ES emini pivot point (1317) signaling an upward bias in most cases and for emini futures traders to take long positions whenever the opportunity arises. However, poor earnings reports and a good report out on lower jobless claims put the ES futures in a tight trading range today with traders indecisive on which way to go with the conflicting news. The ES contract printed the high for the day, 1326.00 during late... Read Full Story

Manufacturing Index Report and Greece Factor in Gain The ES e-mini futures gained the pivot point, (1309.25), early in overnight trading establishing the trend for the day. Moving up steadily into the pre-market session before the opening bell of the cash market, bringing an end to the four day slide in the financial markets.The bell this morning saw the ES open cash market at 1318.50, two points above the R1 level,(1316.50), with the first half hour gaining the mid-point resistance level at... Read Full Story

Dow E-mini Futures Mirror ES Futures ES S&P emini futures trading overnight saw the market trending up through the pre-market and into the opening bell of the cash market, topping out at the R1 level (1317), printing the high for the day at 1317.50. Once the market opened however, the bottom fell out with the ES spiraling downward back through the S&P pivot point, (1306.50), eventually finding support before the lunch hour in the area of mid-point support level 1, 1302.50. The ES spent the... Read Full Story

Greece Talks Still Weighing on Market The YM Dow emini futures traded below the pivot point, (12637), early after the opening of the overnight session taking the pivot entirely out of the equation today. The YM spent the pre-market and the cash market sessions trading below support level 1 (12553) and above support level 2 (12493) which can be seen on the YMH12 intra-day chart below. These two levels marked the boundaries for the YM until after the mid-day lunch hour which saw the YM build... Read Full Story

Late Day Rally Lessens Losses The YM Emini Futures moved up toward the pivot point overnight, (12703) but things quickly changed for the YM futures once pre-market traders showed up, pushing the YMH12 contract down to Support 1. The cash market session opened at 12621, one point above S1 with morning trading pushing the YM down further still before finding the bottom for the day at the 2nd mid-point support level, (12588). The YM stayed in a tight range for most of the cash market session... Read Full Story

ES Emini Loses Pivot - YM Emini Closes Above Overnight futures traders may have been overly optimistic, anticipating a continuation of the upward move spurred on by the FOMC announcement Wednesday. Once the cash markets opened however, the optimism quickly turned to pessimism as can be seen on the ES emini futures intra-day chart. Trending upward in overnight trading after briefly visiting the ES pivot point (1316), the futures moved up through pre-market trading to a 1327 cash market open... Read Full Story

ES & YM Futures Blow Through Resistance The ES Emini Futures had a downward bias during the early morning hours eventually finding support at the first mid-point level of support (1306.50) during pre-market trading. However, the ES took a sharp dive right at the opening to the S1 level before rebounding and turning to the upside, setting the trend for cash market trading. Easing up toward the pivot point (1308.50) during morning trading, the ES gained the pivot for good during the New Your... Read Full Story

ES and YM Make Late Day Move On Apple The YM Dow Emini contract trended slowly downward during overnight trading, breaking below the S1 level of resistance (12604) and kept the downward move in place during the pre-marekt session. During the pre-market, the YM moved below the 2nd mid-point level of resistance (12582) before finding the bottom at the S2 level printing the low of the day. Once the cash market opened, the YM changed direction to the upside moving all the way back above the S1... Read Full Story

Markets Finish Flat as Investors Wait on Earnings Reports With a 5% gain already going into the new year, the S&P 500 saw investors today taking a break from the recent recent gains by closing the cash markets almost flat. It's the height of the earnings season and many of the big sticks are reporting this week and investors are taking a wait and see attitude. Investors still have European financial concerns looming in the background which is sure to have impact on the market in the coming... Read Full Story

Best Week Since the Holidays for S&P and Dow Posting the best week since Christmas , the Dow gained 2.4% and the S&P gained 2%, investors are showing relief that earnings reveal something other than the internal and external forces that have battered the market during the past year. Europe had a good week also, despite the credit downgrade of several European countries earlier in the week by Standard and Poor. U.S. stocks are off to their best start in the past 15 years with good earnings... Read Full Story