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The March S&P E-Mini contract has fired NR4, 90-10 High Continuation, and Momentum Pinball Sell signals for today's trading. The NR4 signal is triggered when the range of the day's trading is the narrowest of the last four days. It tells us to expect range expansion and a pickup in volatility with a likely breakout in store either today, or over the next few days. The 90-10 High Continuation signal tells us that yesterday's late day move higher is likely to continue on into today. 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, and both the larger and more immediate trends are to higher prices. Although odds seem to favor the upside, the NR4 signal tells us to stand prepared for an impulse move in either direction. Trade the break of yesterday's 1458.00 high to 1438.25 low range with a stop an reverse on the opposite side as the entry (if entered long then stop and reverse on the break of yesterday's low -if entered short then stop and reverse on the break of yesterday's high). Price action relative to today's 1451.00 Daily Pivot level may provide clues for earlier entry.
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