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The September S&P E-Mini S&P contract has fired Wide Range Downside Reversal, 90-10 Low Continuation, and Momentum Pinball Buy signals for today's trading. The Wide Range Downside Reversal signal tells us that yesterday's trading likely marked a significant short term turning point with more downside to follow. The 90-10 Low Continuation signal suggests that yesterday's late day move lower is likely to continue on into today. The Momentum Pinball Buy signal tells us that we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) have moved into a region where short term cyclical tops often form, and the larger trend is to lower prices. Odds favor further downside in early morning trade. Sell the break of yesterday's 1299.75 low with a stop just above the 1314.00 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. NOTE: September Dow Jones, Nasdaq 100, and Russell 2000 e-mini contracts have all fired either the same or very similar signals as the ES. This means that they can all be traded in very similar fashion.

 

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The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

The September S&P E-Mini S&P contract (today is rollover from June to September) has fired 90-10 High Continuation & Reversal and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation & Reversal signal is telling us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked, but the larger trend is to lower prices. Odds favor continued upside in today's early trading. Buy the break of yesterday's 1309.25 high, or even earlier if price can demonstrate strength above 1298.25 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important resistance levels. Our Normal High Range Projection level of 1325.50 or the Extended High Range Projection level of 1338.00 would be likely areas for such a reversal to take place, as would be a test and failure of yesterday's high. NOTE: September Dow Jones, Nasdaq 100, and Russell 2000 e-mini contracts have fired the same signals as the ES. This means that they can all be traded in very similar fashion.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

Thursday's trading in the S&P 500 developed exactly as forecast in Wednesday evening's post, resulting in some very profitable opportunities. Register to get these forecasts delivered directly to your in-box at www.PatternTrapper.com.

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

The June S&P E-Mini S&P contract has fired 2 Day ROC Sell, Wide Range Downside Reversal, and 90-10 Low Continuation & Reversal signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The Wide Range Downside Reversal signal tells us that yesterday's trading likely marked a significant short term turning point with more downside to follow. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. Cycle Indicators (chart at right) appear as if a short term cyclical top has just been marked, and the larger trend is to lower prices. Odds favor further downside in early morning trade. Sell the break of yesterday's 1308.00 low, or even earlier if price demonstrates weakness below the 1308.50 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 1295.50 or the Extended Low Range Projection level of 1285.40 would be likely areas for such a reversal to take place, as would a test and failure of yesterday's low.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

The August Lean Hogs contract has fired 90-10 High Continuation and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation signal is fired when the day's trading closes within the top 10% of the day's range. It tells us that yesterday's late day move higher is likely to continue on into today. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked, but the larger trend is to lower prices. Odds favor further upside in early morning trade. Buy the break of yesterday's 88.325 high with a stop just below the 88.300 level of the Daily Pivot. Price strength above the Daily Pivot may provide clues for earlier entry. The Momentum Pinball Sell signal, on the other hand, suggests we consider the short side if the first hour's low happens to be broken to the downside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

The June Japanese Yen contract has fired 90-10 Low Continuation & Reversal, High Breakout Continuation Setup, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The High Breakout Continuation Setup signal implies significant upside IF yesterday's high happens to be taken out. The Momentum Pinball Buy signal suggests that we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) appear as if a short term cyclical high has recently been marked, but the larger trend is to higher prices. Odds favor continued downside in today's early trading. Sell the break of yesterday's 1.2476 low, or even earlier if price demonstrates weakness below the 1.2483 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level 1.2413 or the Extended Low Range Projection level of 1.2359 would be likely areas for such a reversal to take place. The Momentum Pinball Buy signal, on the other hand, suggests we consider the long side if the first hour's high happens to be broken to the upside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.

For maximum benefit be sure to check out the On-Line Course.

The June S&P 500 E-Mini contract has fired 2 Day ROC Sell, 90-10 Low Continuation, High Breakout Continuation Setup, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principal trade direction should be to the downside. The 90-10 Low Continuation signal tells us that yesterday's late day move lower is likely to continue on into today. The High Breakout Continuation Setup signal implies significant upside IF yesterday's high happens to be taken out. The Momentum Pinball Buy signal suggests that we'd want to consider longs if price is strong enough to break the first hour high. Cycle Indicators (chart at right) have moved into a region where short term cyclical lows often form, but both the larger and more immediate trends are to lower prices. Odds favor continued downside in today's early trading. Sell the break of yesterday's 1300.50 low with a stop just above the 1301.25 level of the Daily Pivot. Price weakness below the DP may provide clues for earlier entry. The Momentum Pinball Buy signal tells us to change our bias to the upside on a break of the first hour high. The High Breakout Continuation Setup tells us that we've likely marked a multi-day swing pivot low if yesterday's 1330.75 high happens to be taken out to the upside.

 

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.