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Pre Fed Fibs Fuel Emini Rally



Fibs Ahead of the Fed | How About After?


Monday morning we took a close look at the Fibonacci retracement on the hourly chart during our Live Daily Radio Broadcast. Based on the swing low at 1410.75 and the swing high at 1421.00, we determined the area that would need to hold on a pullback to keep the rally intact. Here is the chart - 


S&P500 Emini Fibs - Hourly Chart


The initial leg was only 10.25 points. This is beneficial because it creates a small strike zone. Fibs are an area and nothing more. If they are going to provide support in this scenario we will look for that to happen between the 38% and 62% retracement levels. On the radio program we drew a circle around 1415.88 which represented the 50% retracement level, or the middle of the strike zone. 

As you can see on the chart above, Price pulled back not once, but twice to the 50% Fib. The first pullback was what we call a "touch and go landing" as evidenced by the long wick. With our methodology, this is a heads up price will return to the area for further consolidation. 5 hours later that is exactly what happened. Price consolidated at the 50% fib for 2 hours and left in it's wake, 2 fine little Doji's. Not every Doji marks a reversal in the market, but at many reversals, you will find a Doji.

The market found solid footing and we were then able to use our Fib Extension Tool to project exact levels on the upside as potential targets. The next chart shows those price targets as determined by the Golden Ratio and the self fulfilling nature of the forecast itself.


SP500 Emini - Fibonacci Price ExtensionsS&P500 Emini - Fibonacci Price Extensions


Price moved right up the 161.8% Fib Extension. For anyone who has done any research on Fibonacci as a confirmation tool, you are most certainly familiar with the 1.618 and 161.8 numbers. If you are new to the world of Fibs, these articles are great jumping off points.


Fibs are everywhere in nature and they can be a wonderful tool for confirmation of whatever trading method you employ in the markets. My strongest word of caution is that you do not attempt to use Fibs as a stand alone trading method. I have seen grown men cry.


Weekly Trading Zones

The Weekly Trading Zones have done a splendid job so far this week. Remember, this isn't magic. This is capturing the underlying rhythm of the market and simply following the flow wherever it takes you.

The chart below is large so you will need to click to enalrge it. - 


Weekly Trading ZonesWeekly Trading Zones


Here's a brief synopsis of what we have seen so far this week.


  • A) Price consolidated at the WTZ for 6 hours.
  • B) Price sliced through the WTZ in 1 hour. That's a sign, "I'll be back".
  • C) Price returns to the WTZ and coils for the next 14 hours.
  • D) Price advanced to the next rung on the ladder and goes quiet for 4 hours.
  • E) Price reaches the High of the Day and rests for 5 hours.
  • F) Price drops back to the WTZ below and returns for the last 8 hours.


None of this is uncommon at all. In fact, as you walk through our web site and charts, you will see this behavior repeated again and again and again. It's not anything "we do", it's what the "market does". Our tools just help to make it obvious so you can use it to simplify your trading.

Questions on our Weekly Trading Zones? Email  TheZoneRanger@cfrn.net


Last Night's S&P Tweet - 


SP500 Emini Futures - TWEETS&P500 Emini Futures - TWEET



As opportunities unfold we'll keep you posted.



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Emini Podcast for Tuesday 12/11/12

References (4)

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  • Response
    Wow!, this was a top quality post. In theory Id like to write like this too - taking time and real effort to make a good article but what can I say I procrastinate a lot and never seem to achieve anything
  • Response
    Response: savecorato.it
    You make some good points. I guess it depends on your standpoint. Life is divided into the horrible and the miserable. Woody Allen Born 1935
  • Response
    Response: blDNYoNe
    Pre Fed Fibs Fuel Emini Rally - emini news blog - Emini Trading
  • Response
    Response: living room lights

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