Emini Futures Trading / S&P Emini Ropa Dope?

by DeWayne Reeves

Crude Oil has the E-Mini S&P 500 on the ropes?

 The E-Mini S&P 500 was basking in the light of the combination of a bright Unemployment Report slipping to 8.9%, a positive Initial Jobless Claims from yesterday and Private Sector Jobs advancing from the day before.  Yes, at 7:30 this morning the market hit a high of $1334.50.  Each round of Economic Reports have been pointed to a mild recovery.  The Fed’s QE program still believed to remain in place.  Then we get an upper cut from the dissention in the Middle East.  Things heat up between Libyan Loyalists and Rebels as they fight over the key oil areas.  It is a heavyweight match with no said referee.   Venezuelan President Hugo Chavez offered to mediate a peace proposal.  The Arab League said that a peace plan was under consideration for Libya, but nothing further was said regarding any mediation.  The inverse relationship that the E-Mini S& P 500  and Crude Oil have may give the stock indices the punch to retrace back and test the $1300.00 level.  Furthermore, Saudi Arabia and a host of other countries including the US fear a potential contagion on the unrest.  The Euro Zone had the foresight to see the potential danger of hungry world citizens revolting against inflation and world hunger.  They have talked of a world hunger fund set up to aid any country faced with starvation and poverty.  US Treasury Secretary Timothy Geithner will travel to Germany on Tuesday to speak about the rescue fund,  international financial reform and the peace within Libya and Iran.   

Monday, we look forward to the US Consumer credit at 2:00 PM CST.

Monday, what to expect!   Today’s positive US Unemployment Report was uplifting, but with a sucker punch in the form of out of control oil prices as a result of conflict in the Middle East.  The high today had been $1334.50 and the low $1311.25.  We settled at $1320.25.  Our comfort zone or point of control for this market appears to be $1322.50.   The official game changer is the slip below $1295.00.  We remain bullish as long as we stay above this level.  To continue a bull run, this market needs to break out above the previous $1342.50.  $1348.50 is our potential predicted high while $1318.00 is our potential low for Monday.  The pennant formation on the Daily E-Mini S&P 500 Chart looks as though its taking to the sidelines for a short-time to attempt a another leg up next week.    Intra-day predictive set-ups act as a pathfinder to our members and individuals looking for disciple and structure added to their trading.

Join us in our LIVE TRAINING ROOM Monday morning!

Only a man who knows what it is like to be defeated can reach down to the bottom of his soul and come up with the extra ounce of power it takes to win when the match is even. Muhammad Ali

 Best regards,

Leslie Burton

Between the Lines
Those of us who choose to trade intra-day, do so for a reason. Many reasons. Many good reasons. Our only concern with the big picture is that we don't "lose sight" of the big picture...

“Nature abhors a vacuum.”
       François Rabelais (c. 1494-1553)

Ever felt the market abhors you? We all have and it's usually the result of our attempt to drill so far down that we are...... trading in a vacuum. In other words, we've lost sight of the big picture. We are so hyper-focused on the time frame we are trading in that we have lost touch with the larger time frame that is driving the market. Our CFRN Sentiment Indicator makes sure you stay in touch with the "big picture"in a manner that is relevant to an intra-day trader.

Riddle me this............

"Is the Sentiment Indicator always right?" 

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More current? 

Fair enough...

Now the question becomes, "Why have I gone to all the trouble to show you this?"

Great question!

Whilst we, nor any indicator can actually predict the future, we can at least try to make sure no one is standing on the tracks when the train passes through town.

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