Top Notch Trading 02/27/17

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com   02/27/17

 

 

SPH                                      NDH

2377.00 # 5389.75 #
2373.00 WEEKLY FIB 5379.75 WEEKLY FIB
2371.25 DAILY FIB 5369.00*
2370.00* 53641.25 CONT. HIGH
2367.50 CONT. HIGH 5359.50 LAST WEEK HIGH
2366.75 LAST WEEK HIGH 5358.50 DAILY FIB
2365.75 FRI. HIGH 5347.75 PIVOTAL
2365.00 FRI. SETTLE 5344.00 FRI. HIGH
2364.50 PIVOTAL 5343.25 FRI. SETTLE
2360.75 DAILY / WKLY PIVOT 5336.50 WEEKLY PIVOT
2359.25 > / 2357.75 v 5331.25 DAILY PIVOT
2353.75 < 5324.50 >
2351.50 FRI. LOW 5318.00 v
2350.50 LAST WEEK LOW 5311.00 <
2348.00* 5306.25 FRI. / LAST WEEK LOW
2346.00 DAILY FIB 5297.00*
2344.25 WEEKLY FIB 5291.75 DAILY FIB
2339.25 # 5286.00 WKLY FIB / 5283.25 #

 

TOUGH TO FIGURE OUT WHY THESE TWO DIDN’T ACCOMPLISH THOSE OBJECTIVES TOGETHER, BUT THAT’S THE NATURE OF THE BEAST BETWEEN THESE TWO. A PERFECT EXAMPLE IS HOW THEY ARE SETTING UP TODAY. MAKING NEW LOWS OFF THE WEEKEND SHORT AFTER 7:00 A.M. DID SEE THE NASDAQ FIND A TEST OF TODAYS DAILY PIVOT 5331.25 MAKING A LOW CURRENTLY AT 5331.00. IT IS STRUGGLING AT THIS POINT TO GET BACK TO ITS SETTLE PRICE OF 5343.25, PUTS FIRST EMPHASIS ON THAT LEVEL FOLLOWED BY TODAYS PIVOTAL PRICE AT 5347.75. NOTE THAT PIVOTAL PRICE IS ABOVE FRIDAYS HIGH, A KEY DIFFERENCE OF OPINION BETWEEN THE TWO. THE S&P HAD A RANGE OF 14.25 ON FRIDAY WITH AN OVERALL RANGE OF 16.25 FOR THE WEEK. HELP!! A LOW ON FRIDAY IS ONE HANDLE ABOVE THE WEEKLY LOW AND THE WEEK HIGH ON FRIDAY IS A HANDLE UNDER LAST WEEKS LOW. HELP ME TWICE!! THIS ALL EQUATES TO A WEEKLY PIVOT ON THE SAME PRICE AS TODAYS DAILY PIVOT. HELP ME THRICE FOR THE LAST TIME! FALLING SHORT OF A TEST OF THOSE PIVOT LEVELS WITH A CURRENT LOW AT 2362.25 DID FOLLOW WITH A MOVE ABOVE ITS PIVOTAL PRICE AND SETTLE AS WEEL HEADING INTO THE OPEN. A WEEKEND HIGH AT 2370.00 IS A FIRST CALCULATED RESISTANCE PRICE FROM FRIDAYS RANGE, WHICH IS ALSO NEW ALL TIME CONTRACT HIGHS, LEAVING THAT PRICE AS A FIRST TARGET, FOLLOWED CLOSELY BY TODAYS UPSIDE DAILY FIB PRICE 2371.25. I’LL LEAVE IT AT THAT FOR THE OPENING CALL. 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.

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