We had 3-digit gain for Dow and above 40 points for Nasdaq yesterday, will there be some profit takings kick in today? No idea. We have oil inventory report at 1030 ET, this should provide some momentum to the market.
Looking at volume and price action of E-mini S&P at the first 30 minutes, I am looking forward a volatile and hopefully, trending day. E-mini S&P had a small gap down and the gap was filled within the first half hour. Mini-sized Dow and E-mini Nasdaq both opened low and go high. It is pretty positive.
At this point of time, I am looking at Long opportunities.
Trading Journal
Trading: 12-September-2006: Market Opening
From first 6 5-minute bars of E-mini S&P, average volume exceeds 10k contracts. I am looking ahead a volatile, and hopefully, trending day. Three index futures (E-mini Nasdaq, mini-sized Dow, E-mini S&P) are moving up with E-mini S&P leads with a gap up.
As at this point of time, I am looking for Long opportunities.
Daily Pivot 12-September-2006
Here are the pivot levels I am looking at for 12-September-2006
[photopress:Pivot_1.jpg,full,centered]
No trade: 11-September-2006
It was another boring day. No dummy setup for me before 12 NY time. E-mini S&P started with strong volume. It was expected to be a volatile and maybe, trending day. E-mini Nasdaq, E-mini S&P as well as mini-sized Dow took a dip during the opening and reversed up in the afternoon.
Though no dummy trade was done, I recalled my CBL (Count back line) trading method. I used CBL entry to trade reversal pattern in SIMSCI futures (MSCI Singapore Free index). Some examples, here and here. I am now again interested to evaluate this method to trade E-minis and Dow.
I was so excited to start trading on my Tradestation. But I am not excited to lose money. No trade for the first day of the week and first day of my tradestation journal.
Daily Pivot 11-September-2006
Here are the pivot levels for 11-September-2006. The reason I calculate these levels, is to assist my profit taking decision in dummy trading.
[photopress:pivot_1_2.jpg,full,centered]
Weekly Economic Calendar: 11-September to 15-September
This is going to be a busy week. We have a number of announcements.
Weekly Economic Calendar
| Date | ET | Release | For | Consensus | Prior |
|
Sep 12 |
08:30 |
Trade Balance |
Jul |
-$65.5B |
-$64.8B |
|
Sep 13 |
10:30 |
Crude Inventories |
09/08 |
NA |
NA |
|
Sep 13 |
14:00 |
Treasury Budget |
Aug |
-$60.0B |
-$51.3B |
|
Sep 14 |
08:30 |
Business Inventories |
Jul |
0.6% |
0.8% |
|
Sep 14 |
08:30 |
Export Prices ex-ag. |
Aug |
NA |
0.2% |
|
Sep 14 |
08:30 |
Import Prices ex-oil |
Aug |
NA |
-0.1% |
|
Sep 14 |
08:30 |
Initial Claims |
09/09 |
NA |
NA |
|
Sep 14 |
08:30 |
Retail Sales |
Aug |
0.3% |
1.4% |
|
Sep 14 |
08:30 |
Retail Sales ex-auto |
Aug |
0.5% |
1.0% |
|
Sep 15 |
08:30 |
Core CPI |
Aug |
0.2% |
0.2% |
|
Sep 15 |
08:30 |
CPI |
Aug |
0.3% |
0.4% |
|
Sep 15 |
08:30 |
NY Empire State Index |
Sep |
14.0 |
10.3 |
|
Sep 15 |
09:15 |
Capacity Utilization |
Aug |
82.5% |
82.4% |
|
Sep 15 |
09:15 |
Industrial Production |
Aug |
0.3% |
0.4% |
|
Sep 15 |
09:50 |
Mich Sentiment-Prel. |
Sep |
83.1 |
NA |
