Pre market analysis 4-20-11 Wednesday

News: Existing home sales @ 10AM

Trade plan : ES has been moving  higher the last few sessions after hitting the 50 % level at 1290s. Globex has been trending higher all night moving almost 20 points up. The buyers are in control and im expecting support to be bought on any pull backs. I will wait to see how the open range unfolds and will look to go with the buyers at support.

End of day review 4-19-11 Tuesday

On a side note I'm gonna make the EOD post more about how the day met my expectation and the trades that i should have or i did take as opposed to what the day did. I keep a hand written journal now for my market reads and expectations for the day. I will keep doing the Pre market analysis as this sets up my morning so i am prepared for the open. So for me today was pretty boring. I'm trying to look back and see where i messed up and where i should or could have traded. I took a short this morning that hit my target of 2 points but i didn't fill so that sucked. See the 3 min trades chart for the rest of the trades. As for my expectation on the day compared to my morning analysis i came in neutral to bearish and was expecting sellers at the 1304-1306 area which we got so nice call there. then we rotated down to support where i was expecting buyers to be active due to the balanced day unfolding. We ended up testing the 1309 level at the close and this was a possibility as well. 

Pre market analysis 4-19-11 Tuesday

News: Housing starts @ 8:30AM

Trade plan: ES had a big move down yesterday and regained all of the RTH losses. We traded down to 50% retrace of the bigger rally and found buyers there. Globex has pretty much put value in the same area as yesterdays value not giving me to much of a bias. So i will be neutral to bearish on the day looking to be a seller at resistance and a buyer at support. Also with the lack of catalyst out for the day we may just balance in the globex range and yesterdays range for the day baring any earnings reports before the open that may move the market. At the 1304.50-1306.50 level im expecting sellers to be active as that would be testing the lower value area of recent range. Also at the 1309-1311 level. A break above that would be a red flag to sellers and i will not be looking for shorts above that area.

End of day review 4-18-11 Monday

Today was a little tricky for me. I couldn't get a good read on the market. I look back and i can now see where i should have traded. I should have taken the short at 1298.00 after it sold off down to 1291 area and retraced back up. There was a few reasons to sell in that area. In all fairness to me i was pulled away a few times from work and couldn't give 100% attention to trading. Although i was able to sit around for the boring choppy stuff. Over all the market rotated from IBL to IBH and that was about it.

Pre market analysis 4-18-11 Monday

News: Today is housing market index @ 10AM

Trade plan: Last week ES balanced in a range. On Thursday we traded up pretty quickly and Friday followed through to the top of the balance area trying to break out. Now in globex we traded  back down into the range. We are trading at in an area where we can see more balance and a possible break this week. We have a lot of company's reporting earning this week so the market could get jumpy depending on the numbers. We only have the housing market index release at 10 AM and not too much else going on this week in the way of economic news. The focus this week will be on earnings. My plan is to play the extremes of this recent balance area as a responsive buyer/seller. I will also look for levels to play off of that correspond with the direction of the trend and the balance area. The market is set to open below value on Friday and we could see some responsive buyers active to bring the market back into value. Over all i will wait to see how the market sets up before taking any positions.