Top Notch Trading 01/30/18

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com  01/30/18

 

 

SPH                                      NDH

   
2900.50 WEEKLY FIB 7107.25 WEEKLY FIB
2886.25 # 7086.25* / 7063.25 #
2878.75 DAILY FIB 7047.25 YEAR / CONT. HIGH
2878.50 YEAR / CONT. HIGH 7045.75 DAILY FIB
2874.50* 7031.75* / 7027.50 YEST. HIGH
2871.25 YEST. HIGH 7016.00 > / 7009.50 v
2866.25 > 7000.00 DAILY PIVOT
2863.25 v 6996.00 < / 6992.50 YEST. SETTLE
2858.75 DAILY PIVOT 6980.00 YEST. LOW
2856.25 < 6972.50* / 6967.50 PIVOTAL
2853.50 YEST. SETTLE 6965.50 WEEKLY PIVOT
2851.50 YEST. LOW 6961.75 DAILY FIB
2846.25 STOPS? / 2844.00 DAILY FIB 6943.00 STOPS?
2841.25 PIVOTAL 6925.75* / 6917.75*
2835.50* / 2829.75 KEY? 6899.25* / 6879.25*
2824.25* / 2815.75* 6861.25* / 6845.75 #
2809.25 LT WK LOW / 2807.50* 6834.25 LAST WEEK LOW
2800.50 # / 2796.25* / 2784.00 WKLY FIB 6788.25* / 6768.00* / 6758.75 WKLY FIB

 

SOME SIGNS SHOWED UP YESTERDAY THAT SIGNAL A POSSIBLE SHORT TERM HIGH IS IN, BUT DUE TO THE NATURE OF THIS CURRENT BULL TRAIN I WILL NEED MORE CONFIRMATION ALONG THE WAY TO AGREE WITH THAT SCENARIO. THE KEY ELEMENTS CAME WHEN YESTERDAY’S SESSION NEVER DID SEE A TEST OF THEIR PIVOTAL / SETTLE PRICES, ALONG WITH MAKING NEW LOWS BY DAYS END, AND WITH LAST NIGHT’S EXTENSION SOUTH HINTS TO THIS PUZZLE AS WELL. HOWEVER, CONFIRMATION WILL COME IF THEY CAN FOLLOW THROUGH WITH AN EXTENDED MOVE UNDER LAST WEEKS LOWS. FOR TODAY- THE S&P STOPPED SHORT AT A KEY LEVEL FROM LAST WEEK, 2829.75, WHEN MAKING A CURRENT PRE-MARKET LOW AT 2831.00. THE ENSUING BOUNCE TESTED ITS PIVOTAL PRICE OF 2841.25 WHEN MAKING A HIGH OF 2845.75, STOPPING JUST SHORT OF A STOP PRICE. IT PUTS EMPHASIS ON THOSE TWO LEVELS AS IT APPEARS THIS FUTURE IS READY TO TEST THE 2829.75 PRICE BY THE OPENING BELL. OTHER LEVELS OF SUPPORT COME IN AT 2824.25 AND 2815.75. THE NASDAQ HAS A PRE-MARET LOW OF 6925.75 WHICH IN TURN FOLLOWED WITH A MOVE TO MAKE A LAST HIGH OFF THAT LOW AT 6968.75, TESTING ITS PIVOTAL PRICE BY THE SLIGHTEST OF MARGIN FOLLOWED CLOSELY BY A NEXT LEVEL OF INTEREST AT 6972.50. MOVING BACK UNDER A STOP PRICE OF 6943.00 LOOKS FOR A FIRST DIRECTIONAL MOVE AT THAT PRICE MAKING THOSE LEVELS ABOVE AS FIRST FOCAL POINTS OUT OF THE GATE. OTHER LEVELS OF SUPPORT COME IN AT 6917.75, 6899.25, AND 6879.25. THAT’S THE OPENING CALL AND I SUSPECT THE GROUND WORK WILL BE LAID OUT FAIRLY EARLY ON. A TINGE OF VOLATILITY COMES WITH THIS SCENARIO SO DON’T BE SURPRISED TO SEE THESE TWO SWINGING EARLY ON. 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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