Como se combate o populismo? "Com eleições", responde Fukuyama

[alex01]

Market Force: Bearish/Neutral. Today is expected to be a low volume day due to Veterans National Holiday. Continue to look for lower prices as the Bearish Market Force is still prominent. Holding below 1166.00 is bearish.
ESZ04 S&P500 E-mini Futures
Thursday, November 11, 2004
Prev Day - SP
Range: 7.70 Value Area
Range: 2.80 TCF Key Numbers for ES
High 1,170.50
1,169.25-1,168.25 Sell Pivot
1,166.00
Open 1,165.80
Close 1,164.80
1,163.20
Low 1,162.80
1,161.50-1,162.50 Buy Pivot
1,148.80 Pit Bull MA



Trade Setup Summary for Wednesday, November 10, 2004:
No Trades recommended on Wednesday due to FOMC meeting.

Recap of Wednesday's Action:
Good Morning.

Today is expected to be a low volume day due to the Veterans Day national US Holiday. We will look for trading opportunities if they present themselves but with extra caution in looking for slow volume.

The markets sat flat most of the session on Wednesday just below the important 1166.00 number I gave you as a pivot.

After the FOMC announcement prices took off to challenge that 1171 number again and then came back to support at 1163 showing the continued Bearish Market Force.

I am expecting that Bear Market Force to continue into today's action as described below.

Today's Call & Briefing:
We want to be a bit cautious today due the strong possibility of slow, go nowhere volume and not get caught in a trade that stagnates.

Of course this is hard to predict but by watching the first hour or so we should be able to tell. It is possible that we will get an aggressive move right off the opening 20 minutes and then slip into a quiet remainder of the day.

LIVE UPDATE TRADERS BE READY TO TRADE NEAR THE OPENING IF NECESSARY...WILL UPDATE AT PRE-OPEN.

RECOMMENDED SETUPS TO WATCH FOR: Today we can be on the lookout for a sell off right off the opening that pushes prices down to new lower levels. Not sure this will occur but the setup is there for the chance.

Look for the Hour One low to get hit as the first pivot as a clue. If it does there is a good chance we will sell off from that pivot IF THE HIGH 5 ARE MEGA BEARISH. Lately we have been seeing prices bounce off the Hour One low by a few points the last 3 days.

IE: the market keeps trying to breakdown but the High 5 are NOT supporting this punch below the Hour One low. Today if they hit the B/D first they may finally drop OR as mentioned, we may see the drop early off the opening 10-20 minutes.

If we run up and attempt to BreakOut of the Highs today then be on the lookout for another pullback unless the High 5 are Mega Bullish.

Value Area: 1,163.20 - 1,166.00
Small VA range today but all with important numbers. Holding below 1166 top of VA is important for lower prices and especially this 1163 number.

Next level lower is 1159 and then 1157 support.

Buy Pivot Target: 1,161.50 - 1,162.50
Here is initial support today and then the 1157.25 if they run through this. This price zone will be important in relation to the opening numbers and early drop if we get one.

If prices stall here we could be in for a quiet day with upper range at 1166 and lower 1159.00. Above 1166 should attempt 1171 again.

Sell Pivot Target: 1,169.25 - 1,168.25
We want to continue to watch this area for shorting up to 1171 as long as the High 5 are not strong on the bullish side.

If we can continue to get the lower pressure below 1166 then prices should start coming down.

10 Day "Pit Bull" Moving Average: 1,148.80
Pit Bull is quickly closing the gap between current prices and 10 day Moving average. Should be a magnet for prices to press lower under current circumstances.

Pro Trader's Action
Not too aggressive today as we may get price stagnation due to slow volume.

An early short trade is possible near the opening 20 minutes but we want to see that volume is coming in early on any moves otherwise we can stand aside until the first hour is over.

Friday should be a more normal trading day however some of the larger traders may be looking at this as an opportunity for a 4 day weekend so depending on how today's volume looks we may get a repeat on Friday.

Good luck with your trades today if you do any. Mohan