Tuesday, March 16, 2010

Tuesday 03/16/2010 - E-Mini S&P 500 Futures Review/Analysis

E-Mini S&P 500 Futures Review/Analysis
Typical FOMC chop session, with two-sided swings in reaction to the Fed announcement. No surprises, really, and the Key Levels homework definitely helped me obtain better trade location. Once you've traded a few Fed days, they definitely become easier to read and trade. I also began watching Volume Delta today, and it was actually quite helpful. I'll post more about it after I've had more screen time. I'm including an annotated 2-minute ES/NYSE TICK chart again today, in case other traders are curious to see some TICK Divergence setups. Today's price action sets us up nicely for tomorrow. Continuation or pullback? Be prepared for both scenarios!

ES/NYSE TICK 2-Min Chart


ES 5-Minute Chart


ES 30-Min Volume Profile Chart


ES Day Session Volume Profile Chart

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