Monday, January 4, 2010

Key Support/Resistance Levels (S&P 500 Futures) for Monday 01/04/2010

First of all, welcome to 2010 and I wish everyone the best!

Just an FYI -- tomorrow is the beginning of my last quarter at school, and I'm enrolled in five classes! This is in addition to a full-time job, so my schedule will be pretty crazy. I'm not sure if I'll be able to post the Key Levels and Scenarios every night, but will try to keep up with it. I graduate in March :)

E-Mini S&P 500 Futures
I'm anticipating a wide-range volatile trading day tomorrow. The average range of the first session of the year is 29.75 points, which means if we break out, we could tag the 1135-1142 area, and if we sell off, we could easily see the 1094s or even 1086s tomorrow. I'm anticipating a strong trend swing in the afternoon session. Please note that just because price has behaved a certain way in the past does not mean it WILL behave similarly tomorrow, but we can anticipate and prepare for the moves. Trades should be taken based on real-time market generated information.

The range expansion potential is pretty strong so I had to take two snapshots of the Key Levels chart to show the upside and downside support/resistance areas. I'd love to elaborate more on my thoughts for tomorrow, but it's already past 12:30 AM and I need to be up in 5 hours. Use the Overnight (Globex) High/Low to determine bias during the day session.

ISM Mfg Index and Construction Spending data out at 9:00 AM (CST) tomorrow morning. Trade well!

ES - Daily Bar Chart with Volume Profile and Key Levels

Upside Key Levels

Downside Key Levels


  1. I think you posted once but I can't remember - graduate school, right? Congrats on seeing it through! Those last few classes feel great.

  2. I wish Steve -- wrapping up undergrad for now. I was working full-time in the technology field straight out of high school and took classes part-time. Also took a couple of years off from school.

    Last year, I decided to finish it up and began taking full-time classes in the evenings.

  3. Congratulations on working on school. While I am writing this the es is at the 1123 resisitance zone. Your data is spot on. All the best for the new year!

  4. Thx Charlotte, wish you the best in 2010!


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