Home

Please read disclaimer before proceeding.

Expected trading range 1139-1147. Expected close: Above 1142-43.

Opening Update: Taget 1157 is valid before 8:00AM.

AM 10:00 update: Bias for Monday would be bearish. Target 1144 is valid before 7:00AM Monday. If close at 1153-54 or 1148-49, market will open gap down at 1144.

[Resupt: Open 1148.50, High 1156.75, Low 1144.25, Closed 1144.75]

Trading range before tomorrow 8:00 am: 1147 resistance ~ 1139-38 support. Short high, cover low. Buy low, sell high.

If this 1142.50 is broken, then try to short from 1146 area with 1147.25 stop for 1139-38 target and reverse to buy with 37.75 stop, target 1147-9. (Our favorite).

Reversing to buy side or not depends on opening, because there are many supports (1131, 1135, 1138) for reversal up.

Opening update: Trading range either 1149~1135 or 1147~1137; expected close 1147, 45, 43.

[Resupt: Open 1139.50, High 1149.25, Low 1136.75, Closed 1145.25]

Bounce Scenario: Tuesday should be for bounce (buy side). Timing for reversal up should be no later than 8:30AM.

More selling scenario: If 1142.50 is intact within 2 hours after the opening, watch out, next target 1127 and 1122 before Wednesday. If it opens gap up, aggressive traders can try to scalp short side before 7:00AM

If Durable good report is not better than expected (1.0%), then gap down open is possible. (Resistance/stop 1142.50-1140.50

Opening update: Stop 1141.25, risk 1 point, scalp short, if stopped out, it will hit 1147-49.

AM 9:30 update: Day high should have be in. Stop 1147 area, market should start to pull back at 10:15 for 1142 testing, if 1141 broken, day low 1134 will be tested.

[Resupt: high 1149.50, low 1144, closed 1142.50]

Trading range 1154-1144.

Opening Update: Stop 1154, selling bias at 1153, target 1144.

AM 10:00 Update: Stop 1140, buying at 1140.75, target 1145-6 testing.

Afternoon Update: Stop 1144, reverse to short selling again at 1143.50, target 1133 before close.

[Resupt: open 1151.25, bounced to 1153.25 high, plunged to 1140, bounced to 1144.75, then plunged to 1133 low, closed 1135.50]

Major pivot 1161.00. If 1161 is broken, it will test 1170 again either before close or Monday morning.

Stop/support 1148-1150, buying bias, target 1160 before 8:00AM. (This bias is strong.)

Try to buy before the opening, cuz most likely it wouldl open gap up! If

If sp can not take out Thursday high 1158.50 before 7:30AM watch out for DUMPING and get ready to reverse to short side again.

Afternoon Update: Stop 1167.25, selling bias, target1157-8.

[Resupt: open 1153.50, low 1146.75, high 1159, close 1149.50]

Resistance 1160 (trailing stop), if it opens gap up, try to short one more time for low testing 1151.50, if broken, next target 1147.50 (wildcard spike 1144) before reversing to buy side (potential stop 1145.50).

If it opens gap down, then there will be not enough left to short at low.

[Resupt: globex high 1156, open 1152.50, low 1141, high 1158.50, close 1152.50]

As stated before Tuesday close: If open at 1175-77 area, try to scalp short one more time, target 1163 target is still valid.

Aggressive trade: Try 1177.5 stop, short before the opening. After midnight if this 1175.50 is intact, try to short with 1175.50 stop. After shorting (target), try to reverse to buy side.

Mid-day 10:20 update: Stop 1164, risk 0.5 short 1163.50 target 1167-1166; then use trailing stop.

[Resupt: After midnight 1175.50 is intact and stop 1175.50 worked. Open 1165, morning high 1165.50, low 1151.75, close 1152.25]

Support 1164, buy side, target, testing 1175-76. if 1176 broken, next target1182-84. If FOMC's bias is neutral or better, 1184 should be hit before the close. Watch out for reversal down (15+ points) to 1162-63 for testing.

[Result: open 1173, high 1177.50, low 1166.75, close 1174.25]

Support/stop 1163.50, buy side, target 1173-76. Dow will test 10640-60.

Morning update: Today's trading range will be 1176-1156 or 1175-1155; expected close 1166-1167.

[Result: open 1170.50, high 1175.75, low 1161, close 1167]

Stop 1159.50, scalp short side one more time before 7:00am for 53 testing.... If 1150 is still intact 7:30am, ready to reverse to buy side.

If market can not take out 1163 within 2 days, watch out, it would plunge to 1120 before March 27. (Bullish scenario: should take out 1163 today)

<5:31am> PPI report is not bad. Move stop to 1161.50-1162, wait for 6:30, if this level still intact, try to scalp short side one more time. (Bullish scenario: should take out 1163 today)

[Result: open 1160.50, high 1169.75, low 1155.50, close 1167]

From Tuesday's low 1153.50, it will test 1162-63.

Resistance 1163, try to scalp short side for 1.5 more days (of grinding).

If Thursday is a bounce (choppy) day, watch out for a down Friday.

Opening Update: Move stop to 1161, selling bias.

[Result: open 1157.50, high 1161, low 1153.50, close 1156]

Bullish scenario: Trading range 1166-1176/78. (1176/78 only if 1170.50 is violated and retail sales report is good).

More pull back scenario: Resistance 1170.25, trading range 1170~1155 if 1170.50 is intact and open gap down more than 3 pts. (If report is not good as expected, possible gap down open at 1163.

[Result: Globex high 1174, Open gap down at 1163, high 1165, low 1153.50, close 1157.50]

<16:00> Closing below 1170 triggerred the possible gap down open again. Keep in mind, shorting is against trend so far.

Trading range 1173-1166. Stop 1172.75, scalp to 1166, if broken, next target 1162, if broken, next 1153. If 1166 holds into mid-night, short side better watch out.

<23:15> Market plunged to 1163.50 at globex. Gap down open is invevitable. If it opened below 1166, try to short again with 1070.25 stop at 1169.50 gap filling, target 1161, if 60 broken, next target 58 before 8:00, if 58 is broken, next target 1154; then try to reverse to buy side.

If it has hard timing breaking 1160, watch out for shorting covering.

[Result: Gap down open 1157.50, High 1070, Low 1156.50, close 1169.25]

Stop 1169, scalp short side, target 1163, if 1160 broken, next target 1154-52 testing before 7:00AM Tuesday. Expected close 1167.50-1168.50

[Result: Globex high 1169.50, day low 1162.75, high 1176.50, close 1169]

Another trading range day. Two scenarios:

If job report is good, possible trading range high 1175 then plunge to test Thursday low 1152-54.

If job report is not as expected, trading range high 1169.50, low 1152.50, max 1148.

Summary: Trading range as wide as 1175-1148, as narrow as 1169.50-1154.50. Short high, buy low; buy low, sell high. Median: 1161-1162

If 1147 is broken, 1137 will be next target on Monday. (1147 should hold unless job report is ugly)

Update after report: Scalp short side target 1162-64.

[Result: After better than expected job report sp rallied to high 1174.50, then plunged to low 1162.25, closed 1167]

June contract will be Traded today. New symbols: ES02M (emini), SP02M (big sp).

New support 1154-52, still up trend.

One day correction is expected. Trading range 1172-1155.

Due to contract rollover, market could be volatile within frist 30 mins. Let's see where it would open at to get a stop level.

Opening Update: 1172 stop, selling bias, today would be a down day.

[Result: Open 1171, High 1171.50, Low 1152.75, Close 1162]

Before 9:00 am, resistance 1150.50, scalp short side, next target 1140-1137. For this scenario, sp can not open above 1150.

[Result: Open 1146.50, High 1166.50, Low 1145.50, Close 1162.5.50]

We are expecting a profit taking selling.

Range 1154-1145. If 1144 is violated, next target 1135.

Resistance/stop 1155, selling bias, first target 1145-46. This 1145 might not be broken easily on the first of of correction.

[Result: Open 1148.75, High 1158.50, Low 1144, Close 1149.50]

Still buying bias. Stop 1127, buying bias, target 1150-53 before/on Wednesday.

Dow Jones target: 10500-10600

Opening Update: Support 1130-11, buying bias, target 1148-1150.

[Result: Globex high 1140, low 1130, Open 1134.75, high 1154.75, low 1131.50, close 1152.25]

Main Trend: <02/26 Tue>

Major 1100 has been intact for 2 days, target 1154 is valid within 2.5 weeks. If 1100 is broken on daily close basis, then another story. Stay buy on buy side. Even if 1100 is broken then up trend will start over again from 107x to 1155. As of today, Dow Jones/Nasdaq are back to prior year 1998 relationship, but sp is lagging behind for about 150~200 points. So, as we said before, we don't think we would see last year's SP low again in year 2002 even year 2003! This weekend's close could indicate next week as a big down week or big up week (1140 testing, and 115x the week after). By looking at sp alone, it looks like 115x should be hit within 2.5 weeks; but Dow is too high. Step by step.