Day Trade Emini S&P 500 NASDAQ 100

5 min Emini Nasdaq 100

Hi,

How is it going lately? Price is in a ranging band again... If you observed, moving averages are almost flat .. This gives rise to alot of fake signals in the stochastics... Notice how it is bouncing up and down... If you were to trade on all of these signals, you would encountered alot of whipsaws...

Look at short-term MACD, it is hovering around zero line... I don't think it is advisable to trade in such conditions.

Posted by Michael Taylor at 5:55 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? We are at turning point again... with the market reaching new highs and sentiments are in a dilemma, market players not knowing when this uptrend is going to end...

Well, what I can say is that market gapped down today.. This was followed by ranging price action... look at the short-bodied candlesticks.. they look ugly to me.. stochastics and short-term MACD zig zagging up and down...

Most importantly, price did not close the gap.. This is a bad sign.

Posted by Michael Taylor at 5:41 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

Market went up again today... and moving averages are slanting upwards... I was waiting for a chance to go long...

When price pulled back to the moving averages and found support at the opening price, this was accompanied by stochastics cutting up the oversold region.... I longed 1 contract at 1780 and exited at 1786 with profits of $120.

Posted by Michael Taylor at 5:55 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

After rising for the past weeks.. we are again at cross roads.... you can see that price met strong resistance at the hgh formed yesterday... Price moved down... erratically... in zig zag manner ... all the while with support from the moving averages...

It only broke the moving averages at around 14:30... it is not advisable to go short in such situatioins...

No trade today..

Posted by Michael Taylor at 5:30 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going today? After surging for the past week, we have reached the resistance zone... Price is near previous highs and obviously momentum is slowing down...

You can see that candlesticks have shorter bodies and that they are enclosed in narrow Bollinger Bands... Short-term MACD and stochastics zig zag up and down.. there are no real signals ... No trade today..

Posted by Michael Taylor at 5:30 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nadaq 100

Hi,

How is it going lately? Price staged a surprisingly strong rebound today... It gapped up by around 10 points... there after price remained in a narrow range... Obviously this is not a good sign... The gapped up is caused by institutional traders...

day traders like us do not have the advantage...by the time the gapped finished...price remained range bound.. There are no signals from stochastics or short-term MACD... No trade today.

Posted by Michael Taylor at 5:57 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately?
How long can this down trend go? Remember it always takes the market faster to come down than go up...
Today's trade is a classic.

Let's revise the conditions leading to the trade
1) Moving averages are sloping down
2) Stochastics and short-term MACD started to turn down...
3) Strong price action with candlesticks of reasonable body length..

Shorted 1 contract at 1682 and another 2 contracts at 1674 when it met resistance with my purple moving average.
I exited at 1662 when stochastics turned up with profits of $920.

Posted by Michael Taylor at 5:21 PM | Permalink | Comments (0) | TrackBacks (0)