E-Mini S&P 500 Futures (Options Expiration / Quadruple Witching)
With Thursday being a narrow range day, the Key Levels haven't really changed much. Two sided moves are typical on quadruple witching Friday. A reversal of the overnight trend is something to watch out for at the cash open. We typically get a reversal of the morning trend around 11 AM (CT), or early in the afternoon. Bias is bullish above 1158 and bearish below. If we break out above Wednesday's high (1165.50), I would expect price to tag the 1170 area. On the downside, I'm expecting the 1139.50-1141.50 Support Zone to hold. On the upside, I'm expecting the buying to shut off in the 1177-1179.75 Resistance Zone. If you want to play it safe, sit out the first hour. Trade well!
No scheduled econ releases. Quadruple Witching Friday. Watch out for news out of Europe/Greece.
ES - Daily Chart with Volume Profile and Key Levels
My views on trading the E-Mini S&P 500 Futures utilizing Price Action, Market Structure, Volume/Market Profile and the Auction Market Process. Visit www.EMiniPlayer.net for Daily Key Support/Resistance Zones, Trade Plan and Educational Recaps.
Thursday, March 18, 2010
Friday 03/19/2010 - S&P 500 Futures Key Support/Resistance Levels
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Thanks for the help earlier today with pointing out some stuff on my chart about the trade I bailed on. That was great!ReplyDelete
No problem Steve; glad I could help. Have a good weekend!ReplyDelete