Thursday, February 25, 2010

Thursday 02/25/2010 - S&P 500 Futures Key Support/Resistance Levels

E-Mini S&P 500 Futures
With Wednesday being another inside day, the Key Levels haven't really changed much but there's a higher probability of a break-out from the current Range (range contraction leads to range expansion). My bias is bearish below 1102 and bullish above it. A break of 1090.25 could trigger heavier liquidation and drive price down to the mid 1070s. A break-out above 1105.50 could take us to the 1118-1121 area. My only other concern is that with GDP and Existing Home Sales data out on Friday, we may not get clear direction until then. Keep it tight, stick with momentum, and do not add to a losing position (with strict risk parameters and discipline, averaging into a position works OK on range-bound days).

Econ Data
Durable Goods Orders and Jobless Claims at 7:30 AM (cst), Ben Bernanke speaks at 8:00 AM (cst), FHFA House Price Index at 9:00 AM (cst), EIA Natural Gas Report at 9:30 AM (cst)

ES - Daily Chart with Volume Profile and Key Levels


  1. E-Mini Player, I saw your comment in Don Miller's trading blog & checked our your blog from there. I love your charts. If you don't mind me asking, how did you get the volume profile setup on your platform? It looks like you're using TradeStation for your platform which I do as well. Thank you for your help & congradulations on putting together such a nice site. -Justin

  2. traderboy, check out the "How to Setup Volume Profile Chart in TradeStation" post. It's listed under "Important Posts" in the right-hand menu


At the minimum, please provide your name or Twitter handle when posting comments. Do not post as Anonymous. Comments that contain links to commercial websites will be marked as spam.