Top Notch Trading 03/28/18

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com  03/28/18

 

 

SPM                                     NDM

   
2737.25 -50 DAY M.A. 6971.50 #
2721.75 # / 2709.25* 6953.50* / 6945.75 DAILY FIB
2706.50 DAILY FIB 6924.75 # / 6898.50*
2696.00 -50 DAY M.A. 6865.50* / 6843.25 -50 DAY M.A.
2676.00 > / YEST. HIGH 6819.75 YEST. HIGH
2659.00 v / 2647.75* 6812.00 > / 6796.25*
2637.75* / 2629.50 < 6774.00 v / 6667.00*
2629.25 DAILY PIVOT 6648.00 -100 DAY M.A.
2615.75 YEST. SETTLE 6632.50 < / 6623.75 DAILY PIVOT
2611.00 PIVOTAL 6579.75 STOPS?
2596.00 YEST. LOW 6561.25 YEST. SETTLE
2587.00 -200 DAY M.A. 6520.25 PIVOTAL
2586.00 LAST WEEK LOW 6499.75* / 6490.00 YEST. LOW
2578.75* 6465.75*
2565.50 DAILY FIB 6441.50* / 6420.50*
2552.50* / 2525.25 WKLY FIB 6391.00* / 6364.00 DAILY FIB
2504.50 # / 2483.50* 6345.25 WEEKLY FIB
25445.75 MAJOR T-LINE 6289.25 -200 DAY M.A. / 6227.75 #

 

ALL EYES ARE FOCUSED ON THE TECH SECTOR AS NEWS RELATED TOPICS PUT MORE OF A FUNDAMENTAL FLAVOR INTO THE MARKET WORLD. JUST LOOK AT THE NASDAQ FUTURE, WHICH HAD A 329.75 HANDLE TRADING RANGE ON THE REGULAR SESSION, WHICH DIDN’T EVEN INCLUDE THE PRE-SESSION MARKET HIGH. TOUGH TO GAUGE ON WHAT DEVELOPS IN THE NEAR FUTURE FOR THESE TWO WITH THIS FUNDAMENTAL INFLUENCE AS THEY MOVE FORWARD.

FOR TODAY- THE NASDAQ DID TAKE OUT ITS LOW OF LAST WEEK YESTERDAY AND FOLLOWED WITH A SLIGHT BREACH OF ITS LOW ON THE PRE-MARKET TRADE LAST NIGHT, CURRENT 6485.25, WHILE THE S&P NEVER DID FIND LAST WEEKS LOW, LET ALONE MOVE UNDER ITS LOW FROM YESTERDAY LAST NIGHT. UP TOP THE NASDAQ LOOKS FOR FIRST TESTS AT A STOP PRICE 6579.75, FOLLOWED BY ITS DAILY PIVOT 6623.75 / TRAPPED LONGS OFF THAT SETTLE PRICE FROM YESTERDAY 6632.50. LOOKING FOR FIRST LEVELS SOUTH AT 6499.75, 6465.75, 6441.50, AND 6420.50. THE S&P FOUND A CURRENT PRE-MARKET HIGH AT 2627.00 STOPPING JUST SHORT OF ITS DAILY PIVOT 2629.25 AND NOTE THE LONGS ARE TRAPPED 25 CENTS ABOVE THAT LEVEL, 2626.50, MAKING IT A SHORT FIRST TIME ASKING. OTHER LEVELS OF NOTE COME IN AT 2637.75 AND 2647.75. SOUTH IS ALL ABOUT TESTING ITS 200 DAY M.A. AT 2587.00, WHICH IS JUST ABOVE ITS LOW FROM LAST WEEK 2586.00, FOLLOWED BY OTHER LEVELS OF INTEREST AT 2578.75 AND DAILY FIB 2565.50. THAT’S THE OPENING CALL AND I WOULD EXPECT AT SOME POINT TODAY THOSE TRAPPED LONGS WILL GET RELEASED. THAT MEANS THE NASDAQ FUTURE HAS ITS WORK CUT OUT FOR IT. 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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