ES Futures Back In Bull Territory 11/30/11

Both the ES Futures and the S&P 500 Index are back in bullish territory. Within the next week or so we should have a test of the 10-day moving average.

Charles

ES Futures Catapult Past R3 In Globex Session 11/30/11

European stocks and the US index futures are rising rapidly on news that the Federal Reserve and five central banks have lowered interest rates on dollar swaps. In addition, China has cut the reserve ratio for its banks in a surprise move.

Bloomberg: "Stocks Rise as China Cuts Bank Reserve Ratio"
CNBC: "China Cuts Bank Reserve Ratio by 50 Basos Points"
MarketWatch: "US Stock Futures Rally on Central Bank Action"

Charles

S&P 500 Index Stays Below 50-Day Moving Average 11/29/11

Just not enough bulls to move the S&P 500 Index above its 50-day moving average.

Charles

ES Futures Testing 10 Day Moving Average 11/28/11

The 10-day moving average for the ES futures provided the resistance today.

Charles

2011 Black Friday Retail Sales Up 7% From 2010

MarketWatch reports that 2011 Black Friday retail sales rose 7% over 2010. We will have to wait and see if equity investors are willing to put more importance on an improving US economy over the European debt problems.

Charles

ES Futures Market Review On This Short Trading Day 11/25/11

At first, it looked like the bulls were going to control this short trading day. But in the end, the bears won once again.

Charles

ES Futures End-of-DAy Review 11/23/11

As has been the case for some time, the market did bounce off its bottom just after 1130 ET when the European markets closed for the day. However, there were not enough buyers in the market to get it past S2 resistance. The hoped for worldwide economic recovery just isn't happening.

Charles

ES Futures Fall Again In Globex Session 11/23/11

As reported by Bloomberg, European stocks and ES futures fell overnight on concerns that Germany failed to obtain enough bids during an auction of its 10-year bunds. Also, a purchasing managers' index is showing that Chinese manufacturing is slowing down.

Charles

Market Is In A Bad Mood This Morning 11/21/11

Looks like the markets have lost confidence in European and US leaders to do anything constructive in reducing the ever increasing mountain of government debt. Of course, increasing government regulation and tax on a dwindling and sick private sector isn't going to help increase government revenue over the long haul.

Charles

Markets Waking Up To Reality 11/21/11

Western nations want to be more socialist, but don't want to pay for the expensive socialist programs. Do-nothing government bureaucrats refuse to make the tough decisions and are hoping for an economic miracle to pay for their expensive spending habits. The truth is that the only thing that will pay for these expensive government programs is more and more taxes. Of course, more taxes means higher cost of living and a huge drag on economic growth.

As the European markets opened today, S1 served as resistance. The market is now hovering half way between S1 and S2.

Charles

ES Futures Bouncing Off November Low 11/18/11

The market is probably done with adjustments for today's contract expirations. Overnight, the ES futures stayed above yesterday's lows, and we are getting a good bounce off of the Novermber 1st low. After the open, the market may try to test those lows again.

Charles

ES Futures Tumble On Statement By Fitch Ratings 11/16/11

The market found a reason to sell on a late day statement by Fitch Ratings. The market did give us some good signals at S1 and the Pivot line throughout the day. These pivot lines are good places to enter and exit trades.

Charles

ES Futures Morning Session 11/16/11

The Advance - Decline line is slightly bearish and the TRIN is neutral. The market once again bounced off S1, but is finding resistance near the Pivot. On the daily chart, the market's range is below average for 5 days now, and is just hanging around its 10-day moving average. Soon it will have to decide if it wants to go up or down with a range expansion.

Charles

ES Futures Morning Session 11/15/11

In the first half hour, the "Close-the-Gap-Traders" were able to bounce the market off of S1 and close the opening gap. However, the market repeatedly had trouble trading past the Pivot line, which is also near the 10-day moving average on the daily chart. The bears have since controlled the market with the market currently trading below S1.

Charles

ES Futures Morning Session 11/14/11

Both the Advance - Decline line and the TRIN indicators indicated selling pressure this morning. Traders ignored the S1 level, but the sellers keyed on the 0930 ET open. The market didn't have enough upside volume to trade past this resistance line.

Charles

ES Futures Weekend Charts 11/11/11

Charles

ES Futures End-of-Day Review 11/10/11

The market spent the afternoon happily between R1 and the Pivot.

Charles

ES Futures Morning Session 11/10/11

Indicators indicate more buying pressure than yesterday, but we still got some profit taking off of R1 at the open. The Pivot tried to act as support, but it failed and is currently resistance. Yesterday's low is now support.

Charles

ES Futures End-of-Day Review 11/09/11

Both the Advance - Decline line and TRIN indicators indicated selling pressure all day. Selling volume increased a lot after 1300 ET as the market approached S3.

The S&P 500 Index is resting near its 100-day moving average.

Charles

ES Futures Testing S2 In Globex Session 11/09/11

The ES Futures is testing S2 with range expansion in the Globex Session.

Bloomberg is reporting that Italian bonds are slumping, bringing with it the European markets and US futures.

Charles

ES Futures End-of-Day Review 11/08/11

This seems to be a typical pattern lately. Bearish in the morning, and bullish in the afternoon. Today, the market found support near the Pivot.

Charles

ES Futures End-of-Day Review 11/07/11

Profit taking to S1, then bulls entered the market to take it back to R1. As always, look to enter trades near the pivot lines.

Charles

ES Futures End of Week 11/04/11

Both the Advance - Decline line and TRIN were slightly bearish today. The market however did find support near S1.



At the end of the day, the market was able to close above its 10-day moving average.

Charles

ES Futures 11/03/11

The ES Futures advance with the ECB lowering rates, and the Greeks indicating that they will not vote on a referendum concerning the Eurozone bailout.

Charles

Jefferies (JEF) Worries ES Futures Mid-Morning 11/03/11

The ES Futures dipped back to its Pivot for the day with news that Jefferies Group (JEF) had a $2.6 billion net exposure to European debt. The Jefferies Group later released news that their net exposure was only $38 million. The company indicated that the analyst did not take into account a $2.5 billion short position in the European debt market.

The ES Futures has currently traded back above R1.

Charles

ES Futures Globex Session Moves On Greek Financial Saga 11/03/11

The ES Futures Globex session is moving on the ups and downs of the Greek financial saga. EU ministers first withhold aid to Greece until after their referendum. The Greek Financial minister then openly opposes the Greek referendum. Other Greek officials then call for the Prime Minister's resignation.

The market is currently bouncing off of S2 and heading for R2. Stay tuned.

Charles

ES Futures Morning Session 11/01/11

The market eagerly bounced off of S3, but could not trade past S2. Both the Advance - Decline line and TRIN show overall selling pressure.



The 100-day average of the S&P 500 Index is now resistance.

Charles

Greece considers euro referendum, report says - Euro crisis update

MarketWatch reports that Greece will hold a referendum on the Euro plan to reduce the nation's debt. Stocks are slumping on the chance that the vote on the Greek referendum could be "NO!"

Charles