February 10th Support and Resistance Levels

The market has first level of near term resistance at the 1072.50′s from recent after hours distributions (weak level) and first primary resistance at 1077.00′s There is multi-day held resting SHORT inventory that will come into play with any trade back up to the 1077.00 level (from previous days trading at the 1070.50′s/1074.00′s/1077.00′s pricing levels…..still previous days SHORT inventory being held). Above the 1077.00′s resistance we have next levels at the 1085.75′s and the 1091.75′s.

For near term support we have the 1062.50′s (weak) from after hours session trading and next at the 1058.00′s which is the last zone of resting long INVENTORY………no more significant held inventory is indexed to any lower pricing level below the 1058.00′s.

February 9th Support and Resistance Levels

For today’s market action we have near term support at the 1061′s and next is last held LONG inventory support off the 1053′s/1054′s pricing levels. There is NO more significant held LONG inventory from ANY pricing levels below the 1054′s……all that previous resting LONG inventory was neutralized yesterday. Our current main levels of held SHORT inventory resistance are at the 1068.50′s as a result of yesterday’s new Delta Volume Distributions, and all previous upper resistance levels stated yesterday remain in effect above the 1068.50′s area of price. Two levels of the 1069.50′s and 1070.50′s will most likely play into initial resistance out of today’s cash session open with any first rally attempts on the day.

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February 8th Levels

Today we have some near term support at the 1056′s and 1044′s/1045′s……last held LONG inventory support is at the recent low of 1040′s/1041′s. Our layers of near term resistance of resting inventory are located at the 1069.50′s and 1070.50′s zone of price. Next significant levels are at the 1074′s, 1077′s and next primary resitance with resting SHORT inventory remains the 1098.25′s to 1099.50′s zone of price.

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Selling based on Cumulative Delta

The FT Group has been waiting for the trade above the previous S&P500 Emini high of 1099.00 and this morning we were able to trade to the 1102.00 level finally. The FT Group is now very aggressive sellers of this market with our first heavy SHORT entries initiated at the 1101.00/1101.25 levels.

We will continue to be… very aggressive sellers with any trading beyond the 1102′s as the market shows sell response from the Cumulative Delta Volume Study. Now I am getting excited…..this will be an excellent longer term SHORT trade set up going into the final days of the 2009 trading year!

Tracking Oil and Eminis continues

We had a very active after hours session and pre-market today in both Oil and the S&P500 Emini. The FT Group added SHORT positions in the “ES” at the 1094.25 level and another SHORT position added to the “QM” SHORT trade at th…e $81.40 level. We have new profit targets set up for the ES at the 1087.00, 1079.00, and 1070.00 levels for now. In our SHORT Oil trade we have entered a new profit target at the $80.30 level with all previous profit targets still in place.

Busy day in Oil (QM) and the S&P500 Emini.

The FT Group had our Oil SHORT trade in the “QM” contract hit profit targets in the after hours at the $80.30 level and all other profit targets remain as previously set…….an excellent pullback in Oil! Want to know how we track the cumulative delta in the CL and QM? Check out Alerts Access…become a subscriber!

Also in trading…. It was another day in US Dollar weakness that led the stock market rally as the markets started a SHORT covering run in futures through equities buyside program trading pushes. We sold into the rally late in the day with entries we’re holding in the S&P500 Emini from the 1091.50′s. We will continue to be aggressive sellers in this environment into the after hours session tonight with any trading in the “ES” above the 1092.50 price.

Great Move off the Highs in the S&P500 Emini

The FulcrumTrader Group nailed profit targets in the “ES” late day blowout today all the way down to the 1075.00 level……that was an excellent move off the recent highs retest today. The “Commercials” today had added additional SHORT ES positions with the trade back to the 1098.50 level. Commercials were active sellers late in the day as the ES was driven lower cleaning out massive amounts of previously held LONG inventory.

New Delta Zone of inventory support now in place…1042.75′s to 1046.25′s

We are taking profits into the sell-off move down through the 1048′s in the S&P500 Emini so far….next set of profit targets now resting at the 1043.00 level. That was an excellent SHORT fade of the intraday ES rally….now we will be tracking the newly formed Delta Zone of held LONG inventory support shown in orange horizontal lines on our chart today.

Strong sell off in the Sunday night globex session and then strong rally in Monday’s cash session.

WOW, that was some excellent action from Sunday nights globex session into Monday’s cash session. The S&P500 Emini had a very directed move out of the Sunday night globex session open, with trade all the way back down to the 1025.50 level. This significant pullback allowed sellers, still holding some SHORT inventory in the old contract, the perfect and very convenient opportunity to cover out at break-even or better. The ES did find some buyers after the EU session open to support price which started a methodical grind up rally into the US cash session Monday open. Monday’s cash session trade continued the rally as equities buy program activity throughout the day was forcing the futures side SHORT covering. By the end of the day, the ES was parked very near the recent Friday highs setting up perfectly for that possible end of day equities side push. Did you get to see what happened next, that end of day Delta Volume order flow transition was just amazing……

Video 1 – Quicktime download link or for faster access, click below and use the MS Silverlight charts. Please Double Click on the MS Silverlight chart after starting to go to fullscreen view!

The S&P500 Emini trades to new highs as the resting SHORT inventory position grows

The ES traded to new highs just after the cash session open Friday of 1043.75 for the new contract. Within that first hour of the cash session, a solid sell response took control of the market as price traded down to the 1033.50 level for our low of day. The rest of the day was spent with trading back into the range and a close in the 1037′s area. Going into the Sunday night globex session and then into Monday, I will be looking for the ES to trade at least back to the low of the Delta Zone of price. Those still holding resting inventory SHORT in the old contract can then trade out at breakeven or better with any trade down to the 1035.00 level or lower…..we will see.

Video 1 – Quicktime download link or for faster access, click below and use the MS Silverlight charts. Please Double Click on the MS Silverlight chart after starting to go to fullscreen view!