Top Notch Trading 01/17/18

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com   01/17/18

 

 

SPH                                      NDH

   
2824.00 # / 2823.50 DAILY FIB 6890.25 DAILY FIB
2818.50* 6878.75 #
2813.00* 6863.50*
2809.00 WEEKLY FIB 6851.75*
2808.50 YEST. / YR / CONT. HIGH 6845.75 YEST. / YR / CONT. HIGH
2808.25 > 6840.00 STOPS?
2804.25* 6822.25*
2800.50 STOPS? 6809.50 >
2795.25 v / 2793.50* 6801.25* / 6799.00 DAILY PIVOT
2791.75 PIVOTAL 6776.25 PIVOTAL
2786.75 DAILY PIVOT 6762.25 YEST. SETTLE
2782.50 YEST. SETTLE / 2782.25 < 6760.50 v
2779.00 STOPS? 6752.25 STOPS?
2774.75* 6739.50 <
2771.50 WEEKLY PIVOT 6729.25 YEST. LOW / 6727.00 WKLY PIVOT
2669.25 YEST. LOW 6712.50*
2766.25 # 6697.00*
2754.25 DAILY FIB / 2750.50* 6685.25 # / 6684.75 DAILY FIB

 

MY FIRST THOUGHT AFTER YESTERDAYS SESSION HAD ME THINKING THAT THOSE EARLY MOVES TO NEW ALL TIME CONTRACT HIGHS SIGNALED A “BLOW OFF TOP” ESPECIALLY WITH THE ENSUING SELL OFF FOR THE REMAINDER OF THE DAY. HOWEVER, I PUT BACK ON MY THINKING CAP AND REMEMBERED THE RECENT YESTERDAY OF THESE FUTURES AND ONCE AGAIN THAT WORD CAME BACK TO BE….RESILIENT!!! FOR TODAY- THE S&P JUST FOUND A FIRST RESISTANCE PRICE OF 2793.50 FOR A CURRENT SPOT ON HIGH AS I WRITE. IT WOULD NEED TO HOLD THE VOLUME VALUE PRICE TO MAKE ANY STATEMENT WHICH WOULD LOOK FOR THE PIVOTAL PRICE OF 2791.75 ON THIS PULL BACK AND IF OFFERED I WOULD THINK THE DAILY PIVOT AT 2786.75 STANDS FOR A TEST. THE NASDAQ HAS A DIFFERENT AGENDA AND HAS YET TO SEE A TEST OF ITS DAILY PIVOT 6799.00 / FIRST RESISTANCE PRICE 6801.25 FINDING A CURRENT HIGH AT 6794.00. NEEDING TO HOLD THOSE LEVELS MENTIONED FOR A ROTATION BACK TO ITS PIVOTAL PRICE OF 6776.25 MOVING INTO THE OPENING BELL. I’LL KEEP IT SHORT AND SIMPLE AND SEE WHAT THE FIRST HOUR BRINGS. INDUSTRIAL PRODUCTION STARTS THE DAY OFF AT 8:15 A.M. AND FOLLOWS WITH THE HOUSING MARKET INDEX DATA @ 9:00 A.M.

 

 

 

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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