Yesterday’s trade action conformed nicely to our Scenario 1 playbook…Early strength and conversion above 1970 lead to an upward move to top of multi-day range near 1978. Although price probed the upper edge of range, it failed to convert on … Continue reading
The main focus this week is Corporate Earnings…Some of the biggest Tech and Industrial Companies are slated to report quarterly earnings….As such, markets should remain relatively contained within recent trading ranges, though headline risk is always a wildcard which could … Continue reading
Reviewing price action in S&P e-mini futures (ES) for the past ten (10) trading sessions reveals a well-defined trading range with 1945 lower edge and 1978 upper edge. We have opined that a Change of Character (COC) was developing…Uptrending action … Continue reading
Yesterday’s auction began in globex on a very weak note, only to trade back to prior resistance (1976) and fail to go any higher…That failure emboldened the bears to press…Later on, reports that a passenger airliner had be shot down … Continue reading
In yesterday’s DTS we stated that odds were relatively low (60%) of converting prior session’s high at 1976.25…An early attempt to penetrate was met by stronger responsive sellers, which setup an “auction failure”…Another failed attempt at the Open Range Rotation … Continue reading
S&P e-mini pulled back to key weekly Point of Control (1958 handle) yesterday where responsive buyers stepped-in, absorbing all contracts supplied. We continue to observe repeated pattern of pullbacks testing support zones, then price pushing back higher to top end … Continue reading
Monday’s Session could possibly have been the narrowest range of the year, though I do not have statistics confirming…but boy it was slow. Corporate earning releases have begun to flow and we have opined that money managers are less likely … Continue reading
“Trade What You Know….Verify What You See” This is what Polaris Trading Group instills in each of our member traders daily…It is based upon a solid knowledge base of understanding the market auction process and applying proven trading principles, based … Continue reading
S&P came roaring back from a deep deficit early in session on fears of increasing problems in Portugal (PIGS) to close the session in upper 25% quartile of the days range…Although the Bull is quite resilient buying the fast sell … Continue reading
S&P 500 e-mini (ES) is down 17+ handles in overnight action on a delayed reaction to release of Fed Minutes which confirmed the end to its bond-buying program in October. The plan will decrease bond purchases in three increments until October, … Continue reading