S&P 500 E-Mini contract

$ES_F S&P 500 E-Mini contract 1 year, daily chart. New long term target = 1458.

By | S&P 500 E-Mini Futures | No Comments

On Monday, March 20th 2012, the S&P 500 E-Mini contract, the ES, hit and closed a previous long term target of 1403.5. This causes a situation that occurs every so often where the long term and short term targets are basically the same.

This is one of the rare cases where you drop back below your previous starting point to get a new longer term target. This is done so you can measure the last major move and find the support areas.

The new longer term target is now 1458 with first support at 1301.75 and second support at 1276.75.

Thx,

dave

S&P 500 E-Mini contract target = 1458

S&P 500 E-Mini contract target = 1458

 

$ES_F S&P 500 E-Mini contract 1 year, daily chart. 1375.75 target hit and clsoed. New target = 1398.5

By | S&P 500 E-Mini Futures | No Comments

On Tuesday, March 13th 2012, the S&P 500 E-Mini contract, the ES, hit and closed a projected shorter term -23.6% Fibonacci target of 1375.75. The new target is 1398.5 with first support at 1375.75 and second support at 1372.25.

This is a shorter term Fibonacci target inside of a longer term target and is known as a “Fib within a Fib”.

The ES settled the day at 1390.75, up +24 points.

If you have any questions, [email protected]

Thx,

Dave

S&P 500 E-Mini contract target = 1398.5

S&P 500 E-Mini contract target = 1398.5

$ES_F S&P 500 E-Mini contract 1 year, daily chart. Trend reversal. Target = 1329.5

By | S&P 500 E-Mini Futures | No Comments

On Tuesday, March 6th 2012, the S&P 500 E-Mini contract, the ES, closed below a 61.8% Fibonacci support level of 1361 causing the short term trend to shift from up to down with a new projected Fibonacci -23.6% target of 1329.5. The first resistance level is 1357.75 and the second level is 1362.25.

The ES settled the day at 1342, down -22.5 points.

If you have any questions, [email protected]

Thx,

dave

S&P 500 E-Mini contract target = 1329.5

S&P 500 E-Mini contract target = 1329.5

 

 

$ES_F S&P 500 E-Mini contract 1 year, daily chart. 1341.25 target hit and closed. New target = 1381

By | S&P 500 E-Mini Futures | No Comments

On Tuesday February 7th, 2012 the S&P 500 E-Mini contract, the ES, hit and closed a long term -23.6% Fibonacci target of 1341.25 that had been projected back on October 27th, 2011. The new long term target is 1381 with first support at 1270.75 and second support at 1253.

The ES is also very near another -23.6% Fibonacci short term target of 1347.75. This is known as a “Fib within a Fib.”

The ES settled the day at 1344.75, up +5.75 points.

If you have any questions, [email protected]

Thx,

Dave

S&P 500 E-Mini contract target = 1381

S&P 500 E-Mini contract target = 1381

$ES_F Long Term Swing Traders: S&P 500 E-Mini contract long term target hit at 1341.25

By | S&P 500 E-Mini Futures, Traders Education | No Comments

First of all let me say that long term swing trading is not for everyone. It takes extreme patience, discipline and an XXL set of cahoonas comes in handy on pullbacks.

On October 27th, 2011 the S&P 500 E-mini contract, the ES,  broke above and closed a long term 61.8% Fibonacci resistance level of 1256.75.  You can view that post and chart here.

The new Fibonacci retracement drawing gave us a long term -23.6% target of 1341.25 which was hit yesterday, February 3rd, 2012. If you’re skeptical of the Fibonacci methodology, let me put this in perspective for you. The Fibonacci drawing gave you 2 entry points, the 50% and 61.8% levels and a little over 3 months later the projected target was hit to the tick. Not close, not almost, but exactly to the tick where it pulled back and went sideways for 3 hours before hitting 1342, the high of the day.

From the 50% entry level to the target would have paid you +162.5 points. From the 61.8% level to the target would have paid you +188.5 points (per contract). You do the math.

If you have any questions, [email protected]

Thx,

dave

S&P 500 E-Mini contract 1341.25 target hit

S&P 500 E-Mini contract 1341.25 target hit

 

 

 

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$ES_F S&P 500 E-Mini contract 1 year, daily chart. 1334.25 target hit and closed. New target = 1347.75

By | S&P 500 E-Mini Futures | No Comments

On Friday February 3rd 2012, the S&P 500 E-Mini contract, the ES, hit and closed a projected -23.6% Fibonacci short term target of 1334.25. The new target is 1347.75 with first support at 1329.5 and second support at 1326.55.

The ES settled the day at 1339, up +16.25 points.

If you have any questions, [email protected]

Thx,

dave

S&P 500 E-Mini contract target = 1347.75

S&P 500 E-Mini contract target = 1347.75

 

$ES_F S&P 500 E-Mini contract 1 year, daily chart trend change. Target = 1334.25

By | S&P 500 E-Mini Futures | 2 Comments

On Wednesday  February 1st 2012, the S&P 500 E-Mini contract, the ES, closed above a 61.8% Fibonacci resistance level of 1317 causing the short term trend to shift back to up. The trend had just shifted to down the previous day. The new target is 1334.25 with first support at 1311.5 and second support at 1308.

The ES settled the day at 1319.75, up +11.5 points.

If you have any questions, [email protected]

Thx,

dave

S&P 500 E-Mini contract target = 1334.25

S&P 500 E-Mini contract target = 1334.25

 

$ES_F $TF_F Some thoughts and updates on day swinging

By | Traders Education | 2 Comments

Two weeks ago I expressed my frustration with the S&P 500 E-Mini contract, the ES, being dominated by the “black boxes” or HFT (high frequency trading programs). In my opinion, day traders have been forced to become scalpers and scalpers have been forced to become alcoholics. Ok, maybe not that extreme but I’m sure some computer desk have been the victim of assault.

In that article I talked about focusing the majority of my day trading on the Russell 2000 E-Mini contract, the TF, and trying a new type of trading called “day swinging”. You can read the previous article here.

I’m encouraged by the results of day swinging so far;  in the past 2 weeks I’ve taken 3 day swings in the ES for +15.5 points, +27 points and +8.5 points. I entered what was going to be a day swing on the Russell E-Mini but it gave me +40 ticks so fast I took it off and stopped.  If you follow me on StockTwits or Twitter you can find all the entries and exits posted there in real time as they occurred.

Day swinging works, give it a try.

Thx,

Dave

 

 

$ES_F 1 year, daily chart S&P 500 E-mini contract 1286.75 target hit and closed. New target = 1296.50

By | S&P 500 E-Mini Futures | No Comments

On Wednesday, January 11th 2012, the S&P 500 E-Mini contract, the ES,  hit and closed a projected -23.6% Fibonacci target of 1286.75. The new target is now 1296.5 with first support at 1274.75 and second support at 1271.25.

The ES settled the day at 1288.25, up +2.25 points.

If you have any questions, [email protected]

Thx,

Dave

S&P 500 E-Mini contract target = 1296.5

S&P 500 E-Mini contract target = 1296.5

$ES_F 1 year, daily chart. S&P 500 E-mini contract trend change. Target = 1261.75

By | S&P 500 E-Mini Futures | No Comments

On Thursday, December 29th 2011, the S&P 500 E-Mini contract, the ES, closed above a 61.8% Fibonacci resistance level of 1256.5 causing the shorter term trend to shift from down to up. The short term target is now 1261.75 with first support at 1251.25 and second support at 1249.5.

Keep in mind this is a shorter term target derived from a “Fib within a Fib” and the longer term target of 1341.25 is still valid.

If you have any questions, [email protected]

Thx,

dave

S&P 500 E-Mini target = 1261.75

S&P 500 E-Mini target = 1261.75