Wednesday, December 16, 2009

Wed. 12/16/2009 - S&P 500 Futures Market Review

E-Mini S&P 500 Futures
FOMC didn't generate the magnitude of price movement I anticipated, perhaps due to the quadruple witching this Friday, but still offered a couple of nice opportunities if you were patient, and entered trades at key levels. Price went through my initial resistance zone (1105.50-1107) during the overnight Globex session and hit a high of 1112. Price couldn't even extend to reach the 1112 Globex High in the Day Session (weakness) though. Price tested the Initial Balance High on the FOMC release, and sold off from there. If you used the mid-point and VWAP to establish bias, you either banked some profits, or at the very least, escaped with a small loss. There were a few reasons to scale out or exit in the 1103-1103.75 area. Selling shut off right at the 1103 Globex Low.

ES 5-Minute Chart for 12/16/09 Includes Overnight Globex


  1. Emini -

    are you using composite volume profiles(like w/ MktDelta, IRT, etc.) in your analysis? $ES_F

  2. I don't have Market Delta or IRT, so no, I'm not using composite profiles. I'd like to get one of those softwares to be able to build custom composite profiles though. For now, I'm just using the Weekly and Monthly Profiles in TradeStation to get a rough idea of the composite


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