I think I'll just set my trading platform on auto-pilot for the next couple of months...buy one day...sell the next...repeat...repeat...repeat.
While the YM, ES, NQ & TF basically high-based on their Daily charts, the NKD didn't finish the week quite so well-off...I'll be continuing to see what effects any further downside movement on NKD may have on the e-minis.
Each candle on the next chart grid of YM, ES, NQ & TF represents a one-month Options Expiry Period...the current candle will expire next Friday (May 20) and represents the April-May period. These candles also show these e-minis high-basing just below their respective highs established since January of this year and above their respective March-April Opt. Exp. Pivot Point...which, so far, could be interpreted as a bullish April-May Opt. Exp. period.
For data buffs, the Opt. Exp. Pivot Points which are in effect for the current period are as follows (calculated from the prior candle's H/L/C--the March-April period):
YM = 12171
ES = 1310
NQ = 2295.50
TF = 827.90 (N.B. Friday's closing price on this e-mini is the weakest compared with the other 3 e-minis and is closest to its Pivot Point level...very close at only 4.60 points above...furthermore, Friday's closing price is presently below the closing price of the last period...the bullish lustre on this e-mini is beginning to tarnish, and some of the lustre has been lost on the other 3 e-minis, as well)
The 60 min chart grid below of YM, ES, NQ & TF reveals that continued action occurred within a basically sideways-trending channel for a good part of the April-May Opt. Exp. period and did not break out today. In my last post below, I made reference to this zone. I have to say that I have the same conclusions for tonight's review that I had in that post. Furthermore, on a Daily basis, they are technically still in uptrend...however, it is becoming increasingly messy and questionable. I'll see what next week (Options Expiry Week) brings.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Fri. Sept. 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Sept. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Sept. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Oct. 2 @ 8:30 am ET ~ Employment Data
* Wed. Oct. 7 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Oct. 14 @ 2:00 pm ET ~ Beige Book Report
*** Click here for link to Economic Calendars for all upcoming events