rounded corner
rounded corner
top border

How would you trade the Emini S&P today


Bookmark and Share

We asked one of our subscribers to write us a road map scenario today. We cropped up the charts they sent us but other than that, here is their perspective to show readers on insidefutures, how the learning process works here at TradeGuidance.

Emini S&P [ES]

Trading to the long side: Weve pulled back nicely now in the overnight session after tagging a high at 2587.25. Ten points in the dog days of summer was the entire range for the day to help you put a perspective on the ranges these days on the Emini S&P. 2581.25 is initial resistance if we try to stay above this today, expect 2590.50 to pose a tad bit of resistance and above that we scale right up to 2606.25 for the day marching right along towards the resistance zone at 2626.

The Downside Story: Weve had a bar close nicely in the 15-min timeframe under 2581.25 which suggests that we may head to test initial support at 2562.75. If the bulls relent in any way today, expect 2553.50 to provide some support and below there is a wall of support at 2537.75 without breaking the trend higher.

The Measured Move

If you like measured move here is a road map and a chart:

ES-MM-1-9-18

The chart setup to explain the measured move

ES-Chart-1-9-19

If you like what we do, come visit us at https://www.tradeguidance.com and fill out a contact form and tell us what you like trading and what your style is. Regardless of the size of your portfolio or trading account, our service provides you with undivided attention where our Lead Analyst takes a personal interest in your financial success with one-on-one mentoring.



Recent articles from this author



About the author


Murali Sarma, Vice President of Business Integrations Inc., is an internationally known commodities analyst, author, trader and business consultant who has demystified commodity trading and introduced numerous futures trading strategies and indicators to traders - professional, non-professional and the novice trader - throughout the world. Murali began his trading career in the pre-dot-com bubble in 1998, electing to seek instruments to trade which had lesser volatility and offered more predictable analysis. From about 1999 to 2002, Murali traded out of the UK and moving to the US after that and working mostly independently with individual traders while learning from some of the best analysts and traders. While not being formally certified as a commodities trader, Murali preferred to hone in on his analysis and trading skills versus adding academically to his credentials. Murali believes that is isn’t about being right or wrong on your calls, it is about making money!

Murali has helped several traders become successful over the last 10+ years of active futures trading and has a strong following of traders who like to seek out opportunities in the futures markets on a daily basis versus following the old “buy & hold” investing adage. While not being opposed to switching hats and becoming an “investor” every so often with swing trades in the equities markets, Murali prefers to trade what he can see on charts using multiple timeframes and handcrafted indicators suited for all types of markets. Murali excels in trading sideways and choppy markets with a scalping style of being in-out of intraday markets when there is no defined trend, and on most other days prefers trading to his own computed target levels during the intraday timeframe, while following the trend.

In recent months, Murali has started a Twitter based alert service for intraday futures traders who like to trade commodities and index futures, and elected to blog post his daily analysis in commodities like WTI Crude & Gold and index future instruments like YM, NQ, ES & RTY. You may contact him via his email at info@tradeguidance.com

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2019 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy