Members' Area
This area does not yet contain any content.
Emini Futures Trading Blog
Members Area
Live Emini Training Room
Christian Financial Radio Network
Emini Broadcast Listen Live

 

Live Market Commentary


Every Trading Day 12-2pm Eastern

To view our charts and participate
in the live discussion

Click Here

 

 

 

Compatible Trading Platforms

 

Christian Financial Radio Network BBB Business Review

 

 

 

What happens in your E-Mini Live Trading Room?

For traders seeking hands-on instruction in a virtual classroom, we offer the CFRN Live emini trading room. CFRN wraps all of its proprietary trading systems, indicators, and methodology into this unique educational environment.

live market commentary, real-time application of the CFRN Proprietary Indicators, and trade signals in real-time.
Ask questions and learn the most important trading lesson of all: WHEN, HOW, and WHY you should get in or out of a trade.

 

This show is so good because it not only talks about the markets , which we all are enthralled with, but also about finding out about ourselves and how it relates not only to our trading, but maybe even more important about how we see ouselves in the world we live in and how from the knowledge we take from this show can make ourselves a better human being in our life here on earth--I'll say it one more time"MAN I LOVE THIS SHOW"-thanks guys

- R.H. Canada

More testimonials ...



Follow Us
« Emini Futures Trading / Will The Market Ever Drop Again? | Main | Emini Futures Trading / SP 1300 In Focus »
Friday
Jan142011

Emini Futures Trading / SP Closes At Multi-Year High

Again, Read the tape and quit trying to buck the trend…1300 is on the horizon

We walked into the morning session with the indices lower because the Bank of China raised there reserve requirement.  Asian markets were trading lower which set the stage for a lower opening.  Restricting the money supply put pressure on commodity prices overnight, especially gold and silver which couldn’t recover and finished the day down 2%-3% and on its backside for the week.  JP Morgan reported before the opening bell and beat expectations thus lifting financial stocks along the way.  Then we were hit with a slew of mixed economic reports.  Retail Sales rose 0.6% in December but missed the forecast.  Consumer Confidence fell to 72.7 from 74.5 but the street was expecting something better.  Consumer Price Index or CPI rose 0.5% in December, the largest increase since June 2009.  Whew, that was a mouth full.  How do you make a trading decision based on all that?  My advice, you don’t just look at a chart.

Now what?

So let me see here, some good, some bad and some mixed economic reports today and the market is punching out new highs.  Does this sound like something you read yesterday from me?????

Yes it is.  Note to self: Watch what the tape is telling you, go with the momentum and go with the trend until something changes.  The market will tell you when you’re wrong. 

 

Yesterday’s Chart – Today’s Action---

 

What’s the game plan for Tuesday?

No plan right now.  To eliminate the risk we will NOT commit to a long position over the weekend especially a long weekend.  The bias will be to the upside and we will expect the 1300 level to come along shortly.  The break and close above the hourly congestion and 1284.00 key level put the bulls firmly in charge.  We will look at this level as a potential set-up for support when we get back to trading Tuesday but I want to see what happens over the weekend.

If you’re having trouble trading the SP EMINI you’re not alone!  Take the Free Trial and join us for the next 5 trading sessions.  We discuss charting, precise entry points, exit points, answer questions and offer commentary throughout the trading day.  Live Charts, Live trades, No Credit Card Required!

 

Stay Alert Stay Alive!

Burton R. Schlichter

Connect with us: Follow Me on PinterestFollow us on Twitter! Follow us on Facebook! Read the MailChimp blog Learn MailChimp on iTunes

Friday's Audio Broadcast

References (1)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    Response: trading

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>