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« John Lee Dumas - CFRN Emini Daily News 08/10/17 | Main | Emini - Bitcoin - Ethereum - Best For Day Trading? »

Emini Futures Daily News - 08/09/17


by DeWayne Reeves


Emini Futures Recover 50% of 30 Point Sell-Off!

The S&P 500 Emini tumbled from a new all time high at 2488.50 which was put in place Tuesday 08/08/17 @ 12 noon EDT, to a fresh low of 2459 Wednesday morning 08/09/17 @ 5:30am EDT on Globex. This bottom happened 4 hours before Wall Street was even awake.

Start watching Globex. You might be surprised to learn who has the keys many days to the engine that drives global commerce. It's no longer who you think it is, at least not all the time.

Just prior to the Chicago Futures Market closing for the session this afternoon 08/09/17, buyers were able to bid the price back up to 2474.50, an exact 50% retracement of the previous day's rout. (see chart and video below)


Dead Cat Bounce Or Next Leg Up?

The chart below shows both the sell off from Tuesday, as well as today's 50% rally off the bottom.


S&P 500 Emini Futures


How To Trade The Coming Move

If we break above 2480, the door opens for a retest of the highs @ 2488.50. However, don't expect price to get there the first time up. Why? Sellers just whacked the market down almost 30 Points. Don't forget, Monday we spent most of the day session, locked inside a 4 point range. Is this a big deal? Yes.

As price approaches 2488.50, Seller endorphins will begin to flow (along with a bit of drool). Not wanting to be left at the altar, Sellers will begin to hit the Offer just before it reaches the previous high. Can they knock it down 30 points again? That depends on the COB (Commitment of Buyers). For price to rise it takes financial commitment. Buyers must step up to the plate and dig deep. However, once Buyers can see the whites of the Seller's eyes, all it takes for price to collapse is for Buyers to simply stop buying. No financial commitment required.


Is There Another Leg To The Downside Coming?

Possibly. If we see a break of 2465, then most likely we will head down to test the Wednesday morning lows. Buyers, just like Sellers, will probably front run the touch of 2459. Can they drive it 20 points putting it above 2480 reaching the safety zone we've pointed out? Only time and the COB can answer that question.

You can't throw a stone without hitting an Analyst who will tell you exactly what's going to happen tonight, tomorrow, even next week. If you throw 2 stones, chances are one of them will be right (might even be the same guy). However, it will be their day to crow because fate is fickle and their lucky guess will probably fail them by Friday. Men in expensive suits taking turns being the Prophet. One day their dancing like FredAstaire on their desktop, next day they've gone fetal uner the desk afraid to answer that damn phone. It just won't quit ringing (it's the boss).


Here's My Teeny Weeny Emini Point

We ourselves, solve the market equation not with more points, we use the "lazy man's way to riches" (lol) by trading more contracts. Of course, anything beyond 1 Contract, must be funded entirely by profits you earned in the market. Otherwise, you're not working with us. This means in the beginning you will use very aggressive risk management if you ever hope to stand with our Partners in the 10% line. Well do you?


The Take Away

The take away is this, once you've established the battle lines, based not on what might, could, or should happen, based on the delusional discipline preached by the prophet in the pulpit who currently has your attention span, but based on something concrete - what actually did happen. Once you understand what I just explained to you (no one gets it all the first time), it becomes quite obvious how all those Lizard Brains are going to function.

Even what action they'll take and even when they'll take it. A self-fulfilling prophecy. Now you, armed with the facts, not someone else's fanatical fiction, you don't have to worry if they'll take out the high, or the low.

Just simple evidence that they are willing to defend their position (Buyer or Seller), will create a sufficient bounce under normal range and volatility conditions to insure that no matter what they do, you can at least grab your goal for the day and go embrace life. Isn't life more than staring at charts all day? Well, isn't it?

I hope so, because Jesus and Ding Dong, I mean Kim Jung, say we have no promise of tomorrow.


Emini Futures Daily News - 08/09/17


Want To Be The Profit Instead?

Stop guessing, there's a better way. Let the chart tell you what's happening and take appropriate action. There you go guys. I've gone and unmasked Wall Street again. I suppose tomorrow my Karnak card will be revoked again (just got it back). Now all things considered, with no talent at all, even the worst Analyst should be right 50% off the time. Right? So why aren't they? Why aren't you? Because our Lizard Brains get distracted by all the shiny things the world of trading has to offer. 

I got an email last night offering to sell me a Flux Capacitor to Enhance my Trading. At the same time he was damming the Charlatans who steal your magic beans. I'm sure it was all tongue in cheek. Wasn't it?

That's way too deep a topic for this post, but give me a call and I'll share a few things with you. I talk with guys every day who've been trading 5 / 10 / 15 years and they absolutely know, they are really (I mean really, really) close to becoming profitable. Wow!

They could have gone to Med School instead and made their mothers proud.

If you really want to learn how to trade, give me a call some time. Not now, all this typing made my head hurt. If I can teach you I will. Just convince me you really want to learn how to trade. Not learn some Flashy Vegas Illusion that's used to separate honest folk like yourself from your hard earned cash before you even get to Wall Street. Heck most are still in Jersey.

Seriously, call me some time. Maybe I really can help.


Stop the madness!

Wall Street has a new address - YOURS!

Visit Apply.CFRN.net or Call 949-42-EMINI (36464)




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Emini Futures Daily News 08/09/17

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