Top Notch Trading 04/06/17

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com   04/06/17

 

 

SPM                                     NDM

   
2386.75 DAILY FIB 5508.75 DAILY FIB
2385.50 WEEKLY FIB 5504.50 WEEKLY FIB
2383.75 # 5488.75 #
2376.50 MINOR T-LINE 5481.25 YEST. / CONT. HIGH
2375.00 YEST. HIGH / 2374.75 > 5480.00 >
2371.75 v 5472.50 v
2366.25* 5462.00* / 5453.50*
2361.25 < 5445.50 <
2355.25 DAILY PIVOT 5435.50 DAILY PIVOT
2352.25* 5431.50*
2346.50 YEST. SETTLE 5416.25 YEST. SETTLE
2344.25 YEST. LOW 5409.00 YEST. LOW
2343.75 PIVOTAL 5405.75 PIVOTAL
2339.75 -50 DAY M.A. 5398.25 STOPS?
2335.50* 5389.75*
2332.50 DAILY FIB 5381.00 DAILY FIB
2327.00 # / 2324.50* 5372.50*
2318.00 LT WK LOW / 2307.50*

2299.25 WEEKLY FIB

5363.25* / 5353.25 #

5322.75 -50 DAY M.A.

 

THE FUNDAMENTAL FLAVOR FROM THE EARLY MORNING ADP LED A MORNING PUSH TO HIGHER GROUND. HOWEVER, THE AFTERNOON FOMC MINUTES JUST GOES TO SHOW ONE THE AFFECT THE FUNDAMENTAL SIDE CAN HAVE TO THESE FUTURES AS IT LED AN ABOUT FACE BIG TIME. THE MOVE CONTINTUED TO EXTEND LAST NIGHT FINDING CURRENT LOWS AT 5390.00 NASDAQ / 2338.00 S&P LEADING A MOVE TO FIND CURRENT HIGHS AND AS I WRITE THE S&P IS FINDING NEW HIGHS HEADING INTO THE OPEN. FOR TODAY- ONE OF THE BIGGER TECHINCAL IDEAS TODAY HAPPENED WITH THAT TURNAROUND OFF THE HIGHS. THE LONGS WERE TRAPPED ON THAT MOMENTUM SHIFT HINTING A MOVE WOULD NEED TO BE FOUND TODAY IN ORDER TO “RELEASE” THOSE POSITIONS, 2361.25 S&P / 5445.50 NASDAQ. HOWEVER, THE DAILY PIVOTS STAND IN THE WAY, 2355.25 S&P / 5435.50 NASDAQ, OFFERING FIRST TESTS OF RESISTANCE. BOTH WOULD NEED TO ROLL ABOVE THOSE PRICES IN ORDER TO ACHIEVE THAT TASK AT HAND. IT ALSO MAKES THOSE LONG VOLUME PRICES SOLID RESISTANCE LEVELS AS WELL. AT THIS TIME BOTH ARE WORKING ABOVE THEIR SETTLE PRICES FROM YESTERDAY MAKING THEM FIRST FOCAL POINTS ON THE DOWNSIDE FOLLOWED CLOSELY BY TODAYS PIVOTAL PRICES, 2343.75 S&P / 5405.75 NASDAQ, POINTS THAT SURELY COULD ROTATE A MOVE FOR FURTHER EROSION IF BREACHED EASILY. ANOTHER IMPORTANT NOTE DID SEE THE S&P TEST ITS 50 DAY MOVING AVERAGE OF 2339.75, A HUGE POINT OF INTEREST IF A MOVE DOES HEAD SOUTH. TOUGH CALL WHAT TO EXPECT AS THEY WAIT FOR TOMORROW’S ALL IMPORTANT EMPLOYMENT RELEASE. 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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