Thursday, April 17, 2014

Pre Market Thoughts Thursday


ES/NQ Ten Day 60 minute chart
Support and Resistance Key. White Lines: multi price levels and trend lines, Yellow Lines: daily chart major price points, Solid Green/Red Lines: prior day high and lows,  Dotted Green/Red lines: pivot points, Light Blue Lines: prior unfilled gaps. Does not include overnight highs and lows. Price Points to watch.
  • 1866
  • 1859.50
  • 1845
  • 1839.75
  • 1830.50
  • 1809.25
  • 1807.25
  • 1800 
PRE MARKET THOUGHTS 
This a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or down. Preparing the night before takes out all the emotion of possibly considering a trade when the markets open.
 
Trend Thoughts:  
  • Short term is nuetral targeting pullbacks to the short side and longs with volume support. A break below 1809 could set up more selling. Bounce may be running out of steam will not chase long. 
  • Longer Term remains in a bullish up trend

Thoughts on the Trading Day and the  Month: 
  • Day: 11th trading day: Historically nuetral
  • Month: April has been the best DOW month. Past has shown to be a solid steady month. End of month weakness after tax deadline.

  • * Information taken from Stock Market Almanac and provided more for fun and not as a trading bias. (Trading Day 1, 2, 9, 10, 11, 19, 20 historically bullish. Trading Day 5, 14, 16  historically bearish.)

Reports: 8:30 UE claims and 10am Philly Fed

Gap Fill Thoughts: 
  • Up Gap: Will consider fading an UP gap near 1860 with overnight support.
  • Down Gap: Will consider fading a down gap near 1845.50 with overnight resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance.

Flat Open:  Pass

Gap and Go Thoughts: 

  • Up Gap: Will pass
  • Down Gap: will not chase a short at the open unless clearly under 1840 with overnight overhead resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance. 
 
Long or Short's to Consider after 15 Minutes

LONGS

Breakout/Pullback Long thoughts Will consider pullbacks at support or breakouts if clearly over 1846 with divergent support (above average volume and trending TICKS)Will consider BO's or pullbacks on a down gap coming strong off support with room to resistance.

Fading Long thoughts: 
  • Points to  target 1845 and 1841 and other points mentioned above with TICK divergence and average volume.
  • Notes: Prefer a a 5 point plus move into the location

SHORTS

Breakdown/Pullback Short thoughts: Will consider breakdowns and pullbacks if trading under 1841 without increased volume off support.  

Fading Short
thoughts:
 
  • Points to  target 1866 and other points mentioned above with TICK divergence and average volume.
  •  Notes: Prefer a a 5 point plus move into the location

Always study the overnight trading and mark Support/Resistance and confluence zones that could be used for targets, fading, pullbacks and breakout/breakdowns.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Wednesday, April 16, 2014

Pre Market Thoughts Wednesday


       ES/NQ Ten Day 60 minute chart
Support and Resistance Key. White Lines: multi price levels and trend lines, Yellow Lines: daily chart major price points, Solid Green/Red Lines: prior day high and lows,  Dotted Green/Red lines: pivot points, Light Blue Lines: prior unfilled gaps. Does not include overnight highs and lows. Price Points to watch.
  • 1866
  • 1859.50
  • 1845
  • 1839.75
  • 1830.50
  • 1809.25
  • 1807.25
  • 1800 
PRE MARKET THOUGHTS 
This a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or down. Preparing the night before takes out all the emotion of possibly considering a trade when the markets open.
 
Trend Thoughts:  
  • Short term is bearish/nuetral targeting pullbacks to the short side and longs with volume support. A break below 1809 could set up more selling. Will not chase shorts unless the setup/odds favor the trade.
  • Longer Term remains in a bullish up trend

Thoughts on the Trading Day and the  Month: 
  • Day: 10th trading day: Historically Bullish
  • Month: April has been the best DOW month. Past has shown to be a solid steady month. End of month weakness after tax deadline.

  • * Information taken from Stock Market Almanac and provided more for fun and not as a trading bias. (Trading Day 1, 2, 9, 10, 11, 19, 20 historically bullish. Trading Day 5, 14, 16  historically bearish.)

Reports: 8:30 Building Permits


Gap Fill Thoughts: 
  • Up Gap: Will consider fading an UP gap near 1845with overnight support.
  • Down Gap: Will consider fading a down gap near 1829.50 with overnight resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance.

Flat Open:  Pass

Gap and Go Thoughts: 

  • Up Gap: will not chase
  • Down Gap: will not chase a short at the open unless clearly under 1828 with overnight overhead resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance. 
 
Long or Short's to Consider after 15 Minutes

LONGS

Breakout/Pullback Long thoughts Will consider pullbacks at support or breakouts if clearly over 1829.50 with divergent support (above average volume and trending TICKS)Will consider BO's or pullbacks on a down gap coming strong off support with room to resistance.

Fading Long thoughts: 
  • Points to  target 1829.50 and other points mentioned above with TICK divergence and average volume.
  • Notes: Prefer a a 5 point plus move into the location

SHORTS

Breakdown/Pullback Short thoughts: Will consider breakdowns and pullbacks if trading under 1819 without increased volume off support.  

Fading Short
thoughts:
 
  • Points to  target 1845 and 60 and other points mentioned above with TICK divergence and average volume.
  •  Notes: Prefer a a 5 point plus move into the location

Always study the overnight trading and mark Support/Resistance and confluence zones that could be used for targets, fading, pullbacks and breakout/breakdowns.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Monday, April 14, 2014

Pre Market Thoughts Tuesday


ES/NQ Ten Day 60 minute chart
Support and Resistance Key. White Lines: multi price levels and trend lines, Yellow Lines: daily chart major price points, Solid Green/Red Lines: prior day high and lows,  Dotted Green/Red lines: pivot points, Light Blue Lines: prior unfilled gaps. Does not include overnight highs and lows. Price Points to watch.
  • 1866.25
  • 1859.50
  • 1845
  • 1834.50
  • 1830
  • 1828
  • 1823.75
  • 1807.25
  • 1800 
PRE MARKET THOUGHTS 
This a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or down. Preparing the night before takes out all the emotion of possibly considering a trade when the markets open.
 
Trend Thoughts:  
  • Short term is bearish targeting pullbacks to the short side. and longs with volume support. A break above 1830 could push to the long side. Will not chase shorts unless the setup/odds favor the trade. 
  • Longer Term remains in a bullish up trend

Thoughts on the Trading Day and the  Month: 
  • Day: 9th trading day: Historically Bullish
  • Month: April has been the best DOW month. Past has shown to be a solid steady month. End of month weakness after tax deadline.
  • * Information taken from Stock Market Almanac and provided more for fun and not as a trading bias. (Trading Day 1, 2, 9, 10, 11, 19, 20 historically bullish. Trading Day 5, 14, 16  historically bearish.)

Reports: 8:30 Core CPI

Gap Fill Thoughts: 
  • Up Gap: Will consider fading an UP gap near 1830 with overnight support.
  • Down Gap: Will consider fading a down gap near 1812 and 1810 with overnight resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance.

Flat Open:  Pass

Gap and Go Thoughts: 

  • Up Gap: May consider if clearly over 1830.50 and with overnight support.
  • Down Gap: will not chase a short at the open unless clearly under 1807 with overnight overhead resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance. 
 
Long or Short's to Consider after 15 Minutes

LONGS

Breakout/Pullback Long thoughts Will consider pullbacks at support or breakouts if clearly over 1846 with divergent support (above average volume and trending TICKS)Will consider BO's or pullbacks on a down gap coming strong off support with room to resistance.

Fading Long thoughts: 
  • Points to  target 1830 and other points mentioned above with TICK divergence and average volume.
  • Notes: Prefer a a 5 point plus move into the location

SHORTS

Breakdown/Pullback Short thoughts: Will consider breakdowns and pullbacks if trading under 1820 without increased volume off support.  

Fading Short
thoughts:
 
  • Points to  target 1828 and other points mentioned above with TICK divergence and average volume.
  •  Notes: Prefer a a 5 point plus move into the location

Always study the overnight trading and mark Support/Resistance and confluence zones that could be used for targets, fading, pullbacks and breakout/breakdowns.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Sunday, April 13, 2014

Pre Market Thoughts Monday and Weekly ES NQ Chart

                 
                                                    ES NQ Weekly Charts



                                        ES/NQ Ten Day 60 minute chart
Support and Resistance Key. White Lines: multi price levels and trend lines, Yellow Lines: daily chart major price points, Solid Green/Red Lines: prior day high and lows,  Dotted Green/Red lines: pivot points, Light Blue Lines: prior unfilled gaps. Does not include overnight highs and lows. Price Points to watch.
  • 1866.25
  • 1859.50
  • 1845
  • 1834.50
  • 1830
  • 1823.75
  • 1807.25
  • 1800 
PRE MARKET THOUGHTS 
This a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or down. Preparing the night before takes out all the emotion of possibly considering a trade when the markets open.
 
Trend Thoughts:  
  • Short term is bearish targeting pullbacks to the short side. and longs with volume support. Short cover bounce can trigger at any time as the markets will not go straight down. Will not chase shorts unless the setup/odds favor the trade. 
  • Longer Term remains in a bullish up trend on the weekly charts. Still have more room to pullback but if so will not be a straight drop with support below.

Thoughts on the Trading Day and the  Month: 
  • Day: 8th trading day: Historically no bias
  • Month: April has been the best DOW month. Past has shown to be a solid steady month. End of month weakness after tax deadline.
  • * Information taken from Stock Market Almanac and provided more for fun and not as a trading bias. (Trading Day 1, 2, 9, 10, 11, 19, 20 historically bullish. Trading Day 5, 14, 16  historically bearish.)

Reports: 8:30 Retail sales

Gap Fill Thoughts: 
  • Up Gap: Will consider fading an UP gap near 1815 -1817 with overnight support.
  • Down Gap: Will consider fading a down gap near 1807.25 with overnight resistance.
  • Note: Always check pre-market to see if price is considered support or Resistance.

Flat Open:  Pass

Gap and Go Thoughts: 

  • Up Gap: May consider if clearly over 1817 and with overnight support.
  • Down Gap: will not chase a short at the open
  • Note: Always check pre-market to see if price is considered support or Resistance. 
 
Long or Short's to Consider after 15 Minutes

LONGS

Breakout/Pullback Long thoughts Will consider pullbacks at support or breakouts if clearly over 1817 with divergent support (above average volume and trending TICKS)Will consider BO's or pullbacks on a down gap coming strong off support with room to resistance.

Fading Long thoughts: 
  • Points to  target 1807 and 1800 and other points mentioned above with TICK divergence and average volume.
  • Notes: Prefer a a 5 point plus move into the location

SHORTS

Breakdown/Pullback Short thoughts: Will consider breakdowns and pullbacks if trading under 1815 without increased volume off support.  

Fading Short
thoughts:
 
  • Points to  target 1816.50 and 1824 and other points mentioned above with TICK divergence and average volume.
  •  Notes: Prefer a a 5 point plus move into the location

Always study the overnight trading and mark Support/Resistance and confluence zones that could be used for targets, fading, pullbacks and breakout/breakdowns.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Thursday, April 10, 2014

Pre Market Thoughts Friday

                                       
 ES/NQ Ten Day 60 minute chart
Support and Resistance Key. White Lines: multi price levels and trend lines, Yellow Lines: daily chart major price points, Solid Green/Red Lines: prior day high and lows,  Dotted Green/Red lines: pivot points, Light Blue Lines: prior unfilled gaps. Does not include overnight highs and lows. Price Points to watch.
  • 1866.25
  • 1859.50
  • 1845
  • 1834.50
  • 1830
  • 1823.75
PRE MARKET THOUGHTS 
This a sample of how I do my market preparation. The night before I form a hypothesis of how I will approach the day if the market gaps up or down. Preparing the night before takes out all the emotion of possibly considering a trade when the markets open.
 
Trend Thoughts:  
  • Short term is bearish targeting pullbacks to the short side. Could rally but today shows high odds that the recent rally was a short cover bounce. Will not chase shorts unless the setup/odds favor the trade. 
  • Longer Term remains in a bullish up trend

Thoughts on the Trading Day and the  Month: 
  • Day: 7th trading day: Historically no bias
  • Month: April has been the best DOW month. Past has shown to be a solid steady month. End of month weakness after tax deadline.

  • * Information taken from Stock Market Almanac and provided more for fun and not as a trading bias. (Trading Day 1, 2, 9, 10, 11, 19, 20 historically bullish. Trading Day 5, 14, 16  historically bearish.)

Reports: 8:30 PPI and 9:55 consumer sentiment

Gap Fill Thoughts: 
  • Up Gap: Will consider fading an UP gap near 1835 with overnight support.
  • Down Gap: Will only take at an overnight low. Best to pass for Friday could be volatile 
  • Note: Always check pre-market to see if price is considered support or Resistance.

Flat Open:  Pass

Gap and Go Thoughts: 

  • Up Gap: May consider if clearly over 1841 and with overnight support.
  • Down Gap: will not chase a short at the open
  • Note: Always check pre-market to see if price is considered support or Resistance. 
 
Long or Short's to Consider after 15 Minutes

LONGS

Breakout/Pullback Long thoughts Will consider pullbacks at support or breakouts if clearly over 1846 with divergent support (above average volume and trending TICKS)Will consider BO's or pullbacks on a down gap coming strong off support with room to resistance.

Fading Long thoughts: 
  • Points to  target 1823.25 and other points mentioned above with TICK divergence and average volume.
  • Notes: Prefer a a 5 point plus move into the location

SHORTS

Breakdown/Pullback Short thoughts: Will consider breakdowns and pullbacks if trading under 1832 without increased volume off support.  

Fading Short
thoughts:
 
  • Points to  target 1835 and other points mentioned above with TICK divergence and average volume.
  •  Notes: Prefer a a 5 point plus move into the location

Always study the overnight trading and mark Support/Resistance and confluence zones that could be used for targets, fading, pullbacks and breakout/breakdowns.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE