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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Wednesday, September 14, 2011

Big move in store for YM, ES, NQ & TF?

If technical analysis still works in spite of my last post, I reckon that the YM, ES, NQ & TF are in for big moves in the next day or several days.

Each candle on the chartgrid below represents a one-month Options Expiry period. Overlayed on each chart are a regression channel which begins at the 2007 highs and a Fibonacci retracement from each chart's high to low (as in the case of the YM & ES) and from the low to high (as in the case of the NQ & TF). The current candle will close this Friday. Price is currently trading in the mid-one-third portion of the Fibonacci range on the YM, ES & TF and in the upper-one-third portion on the NQ. All four e-minis are currently trading above the regression channel "mean." All in all and so far, this OPEX period is not as bearish as the last one, and the NQ has retraced more than half of the prior candle.


The next chartgrid depicts a 60 minute (trading hours only) timeframe. Price is currently trading at varying levels above this month's Volume Profile POC (yellow lines), above the Monthly VWAP (turquoise study), and above their 50 (red) and 200 (pink) SMAs. It is the convergence of all of these studies that is now taking place that suggests to me the e-minis are in for a big move soon...there is a good possibility that these convergence zones will form future support or resistance levels in such a move.