Nov 262012
 

NOTE: I will not be doing the Emini Market Open Report on YouTube Tomorrow but will instead be covering that market action during the live trading webinar that starts just before the market open tomorrow.  Be sure to sign up here: http://optimustrading.omnovia.com/registration/pid=33201353517545

Note: Be sure to sign up for the Nindicator YouTube Channel for commentary on overnight price action, set-ups and educational information on Auction Theory and Analysis. You should also follow the Twitter feed at @MarketTraderRob where you will get intraday updates:

The Value Area Report is a daily trading plan based on Auction Market Theory, Market and Volume Profiling techniques for the S&P and Russell Emini Futures (the values in these reports can easily be adapted for SPY [*10] and SPX markets [small premium adjustment]).   Even if you do not use this type of analysis, you should know about it, because large numbers of very well capitalized traders use this approach. As a result, it is likely in your best interest to know and understand it. I have written about these techniques here: http://markettradersjournal.com/volume-profile-analysis/ and elsewhere in this blog.  I also advise reading the notes for both markets as they are related markets. Differences between them can provide clues to what is really going on (though I do not cover cross market analysis in this report). The report is for use on the date posted above based on profile numbers from the trading day before.  I use the NinjaTrader platform with a set of tools called Nindicators to do this analysis.  In particular, the Nindicator Value Profile tool.

 

For the Emini S&P (ES) Futures:

Overall Outlook:

Today we formed an inside D formation that closed above value.  We also covered the gap late in the session. Typically this would be bullish.  D formations are associated with breakout and inside Ds even more so.  Our higher time frame projections suggest we may be near the high of the range, with the CHVN around 1406 or so.   I see us as bearish below 1406 for now, though this may be slightly premature. Tomorrow morning's price action will tell us more.   There are reports in the AM. However, I will not be doing the Emini Market Open Report on YouTube Tomorrow but will instead be covering that market action during the live trading webinar that starts just before the market open tomorrow.  Be sure to sign up here: http://optimustrading.omnovia.com/registration/pid=33201353517545

Bull Scenarios:

If we open above 1402.00 look to buy at 1402.00 or 1400.25 areas.

If we open above 1405.00 then this is even more bullish and may cause a runner to the upside started by stops being hit.

Bear Scenarios:

If we open below 1398.25 look to sell at 1398.25 or 1400.25 areas.

If we open below 1395.00, then this is even more bearish and may cause a runner to the downside started by stops being hit.

Neutral Start Scenario:

If we open between, 1398.25 and 1402.00, then ranging is more likely.

Always be cautious of the impact of reports that come after the open of the day.

Special Observations:

Notes:  There is a virgin point of control at the 1355.75, 1367, 1387.75, 1391.75 and 1425 (above) areas.  Watch for potential reversals in these areas.

 

For the Emini Russell (TF) Futures:

Today we formed and inside D formation that closed above value, and in fact, a new high.  This is bullish.  D formations are associated with breakout. In this market we have a 2nd D day in a row but the second is a bit higher.  Our higher time frame projections suggest we may be near the high of the range, with the CHVN around 812.20 or so.   I see us as bearish below 802.80 for now, though this may be slightly premature because  there are reports in the AM. However, I will not be doing the Emini Market Open Report on YouTube Tomorrow but will instead be covering that market action during the live trading webinar that starts just before the market open tomorrow.  Be sure to sign up here: http://optimustrading.omnovia.com/registration/pid=33201353517545

Bull Scenarios:

If we open above 806.20 look to buy at 806.20 or 804.60 areas.

If we open above 809.30, then this is even more bullish and may cause a runner to the upside started by stops being hit.

Bear Scenarios:

If we open below 803.00 look to sell at 803.00 or 804.60  areas.

If we open below 800.60, then this is even more bearish and may cause a runner to the downside started by stops being hit.

Neutral Start Scenario:

If we open between, 803.00 and 806.20, then ranging is more likely.

Always be cautious of the impact of reports that come after the open of the day.

Special Observations:

Notes:  There is a virgin point of control at the 770.40, 780.00, 789.80, 794.20, 797.60, 816.40, 819.20   and 823.50 areas.  Watch for reversals in these regions.

Remember to check the Open Report on the Nindicator YouTube Channel just before the open of the day (you should subscribe so you are notified):  http://www.youtube.com/user/Nindicators?feature=mhee

Compare this report and the Open Report with your own analysis.

Note: These reports may vary a bit from Nindicator reports as they may under various circumstances use slightly different calculations.

  2 Responses to “Emini Value Area Report for 11/27/2012”

  1. When you are referring to the bull/bear or even the neutral scenario’s What open are you referring to ..The overnight open or the regular market opening? Thanks in advance

  2. For these reports I use the close of the day session and open of the day session. Hope that helps :-)

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