Top Notch Trading 10/28/15

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION:  E-MAIL- haefketim@gmail.com   10/28/15

 

 

SPZ                                      NDZ

   
2097.60 WEEKLY FIB 4730.25 WEEKLY FIB
2090.00* 4701.25*
2085.60 # 4688.25 #
2080.30* 4677.25 (BID) CONT. HIGH
2074.50 LAST WK GLOBEX HI. 4658.25*
2073.00 LAST WEEK HIGH 4651.75 STOPS? / 4649.00 DAILY FIB
2069.80* 4645.75 PIVOTAL
2066.50 DAILY FIB 4637.50 YEST. / LAST WK HIGH
2062.80 PIVOTAL 4632.25 YEST. SETTLE
2062.50 YEST. HIGH 4629.00 >
2060.40 YEST. SETTLE 4626.00 DAILY PIVOT
2059.60 > 4623.00 v
2058.30 DAILY PIVOT 4615.50 < / 4613.75*
2055.00 v 4607.75 YEST. LOW
2053.20 < 4604.25 STOPS?
2052.00 YEST. LOW 4596.50 DAILY FIB
2049.50 STOPS? / 2048.00 DAILY FIB 4592.25 # / 4585.00*
2045.70 # / 2038.30* / 2033.10* / 2027.10* 4570.50* / 4548.00* / 4523.00*

 

ONE POINT THAT STICKS OUT WITH LAST NIGHTS SESSION DID SEE THE NASDAQ FUTURE TEST ITS DAILY PIVOT OF 4626.00 WITH A CURRENT LOW AT 4625.75. IT WAS FOUND IN THE FIRST HALF HOUR AFTER IT OPENED PAVING THE WAY TO FINDITS CURRENT HIGH AT 4649.75, A TEST OF ITS UPSIDE DAILY FIB. DRIFTING SIDEWAYS TO LOWER DOES TRADE UNDER ITS PIVOTAL PRICE OF 4645.75 AS I WRITE INDICATING IT MAY LOOK FOR A TEST OF YESTERDAYS SETTLE PRICE OF 4632.25 BY THIS MORNINGS OPEN. THE S&P ON THE OTHER HAND FELL SHORT OF ITS DAILY PIVOT PRICE OF 2058.30 WITH A CURRENT LOW OF 2059.50, WHICH IN TURN DID HOLD THE SHORT VALUE PRICE. I’M LEANING ON THE IDEA THAT THOSE LEVELS WILL BE A MAIN FOCAL POINT FOR A MOVE SOUTH TODAY. MUCH LIKE THE NASDAQ THAT LOW WAS FOUND EARLY ON AND FOLLOWED WITH A MOVE TO FIND ITS UPSIDE DAILY FIB OF 2066.50 FOR A SPOT ON HIGH. VERY INTERESTING SET UP HAS THESE TWO THINKING THE SAME, BUT I DOUBT THAT SCENARIO STAYS PAT ON THE OPENING BELL. WITH ALL EYES ON THE FED ANNOUNCEMENT AT 1:00 P.M. IT MAKES ME WONDER IF THESE TWO STAY IN THIS CURRENT RANGE UNTIL THEN. HOWEVER, THAT’S JUST A THOUGHT. I SUSPECT THE “IN” CROWD MAY KNOW WHAT’S COMING BEFORE THE RELEASE. THE NASDAQ CONTINUES TO LEAD THE WAY BY TAKING OUT IS HIGH FROM LAST WEEK. THIS FUTURE WILL LOOK FOR TESTS UP TOP AT 4658.25, FOLLOWED BY A CHANCE AT CONTRACT HIGHS, TARGETING ITS UPSIDE # PRICE OF 4688.25. THE S&P LOOKS FOR THE GLOBEX HIGH OF 2074.50 FOR A FIRST TEST, WITH OTHER LEVELS OF INTEREST AT 2080.30 AND # PRICE OF 2085.60. THE LINES IN THE SAND

ALREADY HAVE BEEN DRAWN WITH THOSE DAILY PIVOTS BELOW. GOOD TRADING!!

THE INFORMATION PROVIDED IS BASED ON SOURCES I BELIEVE TO BE RELIABLE. I DO NOT REPRESENT THAT IT IS COMPLETE OR ACCURATE. THE OPINIONS CONTAINED HERE ARE NOT TO BE CONSIDERED AS AN OFFER TO BUY OR SELL THE FINANCIAL INSTRUMENTS PRINTED HEREIN. ANY OPINIONS ARE BASED SOLELY BY THE AUTHOR.

© TOPNOTCH TRADING