The E-Mini Pit
If you currently trade, or are interested in learning to trade, the CME E-Minis, this thread is for you. As opposed to just another market direction discussion thread, our focus here will be on providing a traders resource of specific information on the E-Minis, including discussions of brokers, trading platforms, order types, trading methodologies, money management techniques, futures-specific tax issues, etc. In addition, feel free to post your trades if you like, but please include your reasoning, so we can all learn. Links to charts, articles, seminars, and other message boards dealing with E-Minis or futures trading are encouraged. Also, please check this original post from time to time to see any new links we post here and to check out The Post of the Day, which will be selected from daily contributions to the board.
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A Few Thread Guidelines:
This is a moderated thread, so please respect these few posting guidelines:
1. Please stay on topic. If you want to discuss corn, beans, or stocks, there are lots of other threads for those.
2. Please no bashing, profanity, or boasting of your fabulous trading prowess. Show respect for the folks who wish to post here. Help out the new folks who want to learn.
3. If posting trades or market predictions, please tell us why you are taking that position.
4. Have fun, and help us make this board a valuable resource to Futures Traders.
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POST OF THE DAY:
Message #191 from the-phoenix at Jan 31, 2002 8:44 PM
Upside Moves Kaput?
Both the S&Ps and Nasdaqs had intraday upside patterns that formed over yesterday and today which followed through and appeared to have potentially "completed" by hitting their respective measured targets in today's last hour End-of- January "Window Dressing" rally.
First the S&Ps: An Ascending Triangle formed this morning with a measured target of about 8 points from the breakout line. After a couple false starts, the breakout held in the last hour and hit the measured target right at the R1 Pivot line:
webdesigns1.com
In the Nasdaqs, a somewhat larger pattern formed over the last two days and completed the move to its measured target today. A rough Inverted Head and Shoulders formed with a steeply sloped neckline which was broken in the last hour yesterday. However, the measured move of about 40 points was not reached as the market basically ran out of time at the end of day yesterday. The additional point gains made today did reach the measured target of about 40 points from the breakout point:
webdesigns1.com
These upside "completions" may give clues to the next move for the markets tomorrow.
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Key Links for E-Mini Traders:
E-Mini Contract Specifications:
cme.com
E-Mini FAQ: cme.com
Register for Free E-Mini Real-Time Quotes:
realtime.barchart.com
E-Mini Charts (Delayed): futuresource.com
Information on Futures Brokers: elitetrader.com
Futures Trading Free Seminars: zapfutures.com
NFA Home Page: nfa.futures.org
Louis Lambrecht's Pivot Lines Spreadsheet: lvlamb.itgo.com
Tax Site for Investors and Traders: board.fairmark.com
CME 2002 Holiday Calendar: cme.com |
