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.
Wednesday, May 2, 2012
E-Mini S&P 500 Futures Chart for Wed. 05/02/2012
From today's EMiniPlayer.netTrade Plan: Sellers were active overnight and pushed ES down to yesterday's
Bull/Bear Zone, where Responsive Buyers were active. Heading into the
day session, wse have Pre-Market Resistance at 1396.50-1398.50; we'll
also be using that areas as the Micro Bull/Bear Zone to establish
short-term directional bias. A break and hold above 1396.50-1398.50
would bring the previous Close at 1400.50 and the 1402-1404 Initial
Resistance Zone into play. On the downside, holding below
1396.50-1398.50 could lead to a test of 1386.75-1388.75...ES is set to open below Value; use the Opening Range and 1396.50-1398.50 to establish immediate bias off the open.