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 Levels, Trade Plan and Live Futures Trading Education Room.
Tuesday, May 1, 2012
E-Mini S&P 500 Futures Chart for Tuesday 05/01/2012
From today's EMiniPlayer.netTrade Plan: Overnight, ES balanced within yesterday's range. Heading into the day
session, we'll be using 1391.50-1393.50 as the Micro Bull/Bear Zone to
establish directional bias. Holding above 1391.50-1393.50 would bring
the NVPOC at 1398 and the Open Gap at 1398.50 into play...Today is a holiday in Europe, which could lead to lower volume and
reduced volatility in the U.S. equity markets, resulting in a relatively
Balanced session with Buyers active at Support and Sellers active at
Resistance. The primary economic catalyst today is the ISM Mfg Index at
9:00 AM (CT). Use the Opening Range and 1391.50-1393.50 to determine
which side is in Control.