Wednesday, January 20, 2010

Key Support/Resistance Levels (S&P 500 Futures) for Thursday 01/21/2010

E-Mini S&P 500 Futures
I'm looking for a break out of this range (1125-1148); doesn't matter if it's to the upside or downside. If we make it back to 1145+, I would anticipate a test and extension of this year's high (1148). The other scenario is a clean break to the downside. And of course, we could just consolidate in the range as well. My near-term bias is bullish above 1130.

Econ Data
Jobless Claims at 7:30 AM (cst), Leading Indicators and Philadelphia Fed Survey at 9:00 AM (cst), EIA Natural Gas Report at 9:30 AM (cst),
and EIA Petroleum Status Report at 10:00 AM (cst).

ES - Volume Profile and Upside Key Levels

ES - Volume Profile and Downside Key Levels


  1. Hi E-Mini,

    Great call on the range breakout, sorry you weren't able to capitalize on it. But the great thing about the markets is there's always another day with many more opportunities.

    I read the Mind over Markets book you recommended, great stuff. I plan on reading it again. There is a good section on the Liquidity Data Bank, I was wondering if you have found anything like this? As I have looked all over and can't seem to find it for the ES. Just wondering because I don't really trust my volume distribution charts. I use ninja with a basic volume indicator to try to replicate what you post each day. I find noticeable differences in mine compared to yours so I am looking for other ways to find reliable volume at price data if anyone has any suggestions.

    Also I was wondering if you are planning on showing a review of your trades and thought process like you did before, maybe sometime when things slow down for you. Just because I would love to see how you trade these levels each day.

    Lastly, just want to say thanks again for all you do. Love the site, your approach and your levels. It's helped with my learning and saved me some pain as well:)

    All the best.

  2. Great call we broke out from the range. I think you said you didn't catch any trades hopefully next time

  3. Mike, thanks, hope you were able to capitalize on the price action today. Regarding the Liquidity Data Bank, the CME actually offers this product. Check here: I haven't used it but I think that's what you're referring to. Regarding going over my trades; I probably won't have time for that till I've wrapped up school (March).

    Thx Carlo. Yea, I was caught up in meetings most of the day so missed out but like Mike said, the market's not going anywhere and there will be more days like today.


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