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The March S&P E-Mini contract has fired NR4, 2 Day ROC Buy, and Momentum Pinball Sell signals for today's trading. The NR4 signal tells us to expect range expansion and a pickup in volatility. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The Momentum Pinball Sell signal suggests that we'd want to consider shorts if price is strong enough to break the first hour low. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked, but the more immediate trend is to lower prices. The NR4 signal tells us to stand ready for a strong impulse move in either direction. Trade the break of yesterday's 2023.75 high to 1995.75 low range with a stop and reverse on the opposite side as the entry. Price action relative to today's 2013.00 Daily Pivot level may provide clues for earlier entry. The Momentum Pinball Sell signal suggests that we favor the short side if the first hour's low happens to be broken to the downside. To learn how to trade these setups every day Click Here!
Disclaimer: trading involves significant risk and is not suitable for everyone.