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 / Markets Climb A Wall Of Worry | Main | Emini Futures Trading / Unemployment Up on Snow Fall? »
Sunday
Jan302011

Emini Futures Trading / The Winning Streak Is Over

(DJIA)(QQQQ)(SPY)(F)

The WINNING STREAK IS OVER!

What a difference a day makes.  In the SP EMINI we just about wiped out 2 weeks of gains in 1 day.  Additionally, the DJIA almost made it to nine straight weeks of gains but the news out of Egypt and Ford (F) put an end to it. Commodity prices went into defensive mode with a move higher in the US Dollar, Treasuries and Gold. Crude oil jumped 4% with uncertainty in the region.   

 The news was well advertised today so I am not going to regurgitate what was said.  The question is “what is in store for Sunday night or Monday morning”? All bets are off when we have uncertainty, but let’s cut up the chart for potential price points.

Trade Between the Lines

The outside reversal day and the close obviously puts the bears in charge, however keep in mind we're still in a larger uptrend so the bulls are going to emerge at some point in time. Where? Looking at the hourly chart, view the low on 1/20/11 or the 1267.50 level as an area of support (1267/1265).  If the news gets worse in Egypt, we could have an abrupt drop which takes us down to the 1255.00 level, look at your daily chart and draw an uptrend line. 0382% retracement is also a level of interest or 1249.00.  Now were do I get short if I think the top is in?  Bearish view, key reversal on a daily chart today and if you look at your basic momentum indicators like RSI and Stochastic there is some evidence of “bearish divergence “.  Which simply means the market is creating higher highs but not with the same momentum, energy and sometimes volume.  Kickbacks would be ideal to sell into because we can cut down on the risk.  Go to hourly chart, a revisit of the hourly trend line or the 1285-1287 will be a likely area to get short. 

 

Stay Alert Stay Alive

Burton R. Schlichter
Daniels Trading
Senior Market Strategist

ps/ If you haven't taken the Free Trial yet, there's still time to get in for this weeks session. All Members and Free Trialers will receive the Live Trading Room Link and the Weekly Trading Zones prior to the open on Monday. Apply

 

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

Friday's Live Audio Broadcast

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>