Emini S&P Futures Daily Pre-Market Prep and Trading Levels

Emini S&P Futures Daily Pre-Market Prep and Trading Levels

Every trader has their own idea of how to trade the Emini S&P Futures. Put simply if you fail to plan your trade in your chosen market then you plan to fail! Every day Jigsaw will provide a Pre-Market Analysis, which is based on Market and Volume Profile whilst addressing important levels of support and resistance. I will show you areas of interest and areas where I will be looking to participate in a potential trade. It’s important to understand that just because a price level appears on our radar that we don’t blindly enter a trade. To enter a trade I will look for confirmation using the Jigsaw Tools and this is a tool I use religiously for entering and exiting the market based on price action. Click on chart image to enlarge, then back space on the browser to return to post…..

Emini S&P Futures Pre-Market Prep & Trading Plan

image of emini s&p futures daily trading chart 31 aug

The market continues to shrug off the missile news but we still have news risk overall. We are at the bottom of the old range so I am looking for signs we'll turn back down here or move to the other end of the range 2480.

image of emini S&P futures volume profile chart 31 aug

I'm not drawing any conclusions from the weekly profile, except potentially to look for the market to hold there if we push down.

image of emini S&p futures volume profile

On the daily charts, I'll be looking for the regular levels for a reaction today - yesterdays high/low, yesterdays value area. Also looking where that late pullback ended at 2543.

I don't really see much reason for high participation apart from the unemployment claims...

Plan
- No bias
- expecting a technical day if unemployment claims are within expectations - so watching the usual levels
- longs above 61.25 and shorts below
- Still wary reversion to chop
- expecting a technical day

Weekly Numbers
Range - 2421 -> 2463
Value - 2435 -> 2460
S1 - 2421, R1 - 2459.25

Daily Numbers
Range - 2442.75 -> 2459
Value - 2450 -> 2459.50
Globex - 2545.75 -> 2463
Settlement – 2455.75
Today only - 2453, 2461.25
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart

The market took the "sky isn't falling after all" option yesterday. Shrugged off Kim's missiles and moved back up in tthe choppy area we'd settled into the days before the news.

image of emini s&p futures trading volume profile chart

Looking at the profiles, it really does look like we are set to settle back into the 37-48 range. So watching out for that.

image of emini s&p futures volume profile

Yesterday was an elongated up day, so value area is of no use in my opinion. We are now up past the top of the 37-48 range, so first order of the day is to see if sellers step in to take us down to 37.

Plan
- No bias
- Will join any selling off the open with a view to hitting 37
- Will try to take an early trade as it's still summer and the missile excitement seems to have died out
- Other than that - will have to let the day unfold to see what comes up

Weekly Numbers
Range - 2421 -> 2454.25
Value - 2431.50 -> 2453.50
S1 - 2421, R1 - 2459.25

Daily Numbers
Range - 2421 / 2426.25 -> 2448.50
Value - no use today
Globex - 2445.25-> 2454.25
Settlement – 2447
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini S&P futures daily trading chart

Gold up, stocks down and missiles over Japan. We don't often see mid-week gaps down, maybe Kim Jong-Un was short the ES last night...

It's a news driven day. Technicals are off the table pretty much.

image of emini s&p futures volme profile 29 aug

You don't see this often, so it's worth posting. Given the nature of the trading environment, I wouldn't pay a lot of attention to it though!

image of emini s&p futures volume profile chart

With any big push down, we always look for a snap back and potentially a gap fill. Thing is - the news will dictate what happens. So we have a few things in play today....

1 - watching out for a reaction to yesterdays reaction - in other words - will traders panic and sell off or will they shrug it off and start buying these bargain prices
2 - At any point during the trading day - news could hit the wires that sends the market off in one direction. So trading large positions is more risky today

Plan
- Let the market open and wait to see which way the wind blows
- Look out for reduced liquidity(less market depth)/more volatility - both overall but also look for any sudden changes
- Try to follow volume but scale in to a position, starting small and adding as there's some breathing room in the trsde
- Be careful!

Weekly Numbers
Range - 2415.75 -> 2454.75
Value - 2432.75 -> 2451.75
S1 - 2421, R1 - 2459.25

Daily Numbers
Range - 2436.25 / 2438 -> 2449.25
Value - 2439.75-> 2443.75
Globex - 2421-> 2434
Settlement – 2443.75
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart 28 august

Market is sideways - hard to pick a bias considering we are between 2 ranges, so I don't have one, certainly not based on the longer term view.

image of emini s&p futures volume profile 28 aug

A lot of the trading last week was focused between 2437.50 and 2449.50. So an eye on that area.

image emini s&p futures volume profile

This is confirmed with the daily profiles. We can see probes outside of that range but that's where we seem to be stuck right now.

Plan
- Considering we are stuck in a range, presume it'll hold & look for fades below 37.50 and above 49.50
- Look for an opening trade as we could revert to chop after the open (still in the holiday period)
- Look also for trades of daily/overnight levels. other than that, no trades in the middle of this range.

Weekly Numbers
Range - 2415.75 -> 2454.75
Value - 2432.75 -> 2451.75
S1 - 2421, R1 - 2459.25

Daily Numbers
Range - 2437.50 / 2441 -> 2453.50
Value - 2442.50 -> 2448.50
Globex - 2437.50-> 2445
Settlement – 2442.50
Today only 2437.50, 2449.50
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart

We moved up during yesterdays day session after moving down overnight. We'd had a decent move overnight and that often leads to a 'rebalance' off the open. So after a down night, we often get a pop up off the open. That pop up has to be treated with suspicion because it might just be a reaction to the underlying stock market opening after a down move on the futures.

Anyway - we got the pop and not much else. Volume isn't bad for the time of year, but there's not much interest. Note that people will be looking at the channel above. Not that I'd trade it - but if the market does react there we could see increased participation to the downside.

image og emini s&p futures volume profile

This weeks profile doesn't help us much, it is very evenly distributed. I'm still thinking that care should be taken towards 60-62 on any move up.

image of emini s&p futures volue profile chart 24 aug

Not that much to see here either.

So we are between 2 trading ranges right now...

Plan
- no clear bias
- look for an early trade right off the open
- be very wary of reduced volatility
- watch the usual 'yesterday/overnight' levels for a reaction
- other than that - a play it by ear day...

Weekly Numbers
Range - 2415.75 -> 2454.75
Value - 2420.25 -> 2444.25
S1 - 2406, R1 - 2460.50,

Daily Numbers
Range - 2438.75 -> 2447.75 / 2454.74
Value - 2442.75 -> 2446.25
Globex - 2435.25-> 2441.50
Settlement – 2441.50
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart 23 aug

As expected, we carried on up yesterday - we didn't make it to the upper consolidation area yet (the white box above), so caution around 2460.

image of emini s&p futures volume profile chart 23 aug

Same thing here (although a couple of points above 2460), we see the larger distribution from last week.

image of emini s&p volume profile

An interesting day yesterday. A pop up and then a real grind to the upside. I was hoping to see 2460 but we never got there. It was a tough day to trade if you missed the first pop. This goes doubly if you are a permafader 'cause it really did look like it was struggling.

Plan
- Slight Long bias - wary as we get up to 2460, looking for us to hit the other side of the upper range - 2480
- Looking for pullbacks to yesterdays high/low/value high/low
- Looking for more of a 2 sided day today, so happy on either side after a failure to continue

Weekly Numbers
Range - 2415.75 -> 2454.75
Value - 2418.25 -> 2437.25
S1 - 2406, R1 - 2460.50,

Daily Numbers
Range - 2427.50 / 2432.75 -> 2454
Value - 2422 -> 2454
Globex - 2446.50-> 2454.75
Settlement – 2428
Today only - 2452.75
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p daily trading chart

Bottom of the Jun-Jul range held so far. I am still looking for a good sell off below 16 but bias going into today is upside based on the range low holding. That's bias, not marriage....

image of emini S&P futures vlume profile chart 22 aug

We still have low volume from 33 up to 60 and we haven't really gotten into it yet, so look out for a pop if we do continue up.

image of emini s&p futures volume profile 22 aug

The low of the old range was 16 and we popped down to 2415.75, a decent pop to the upside which was continued overnight.

Plan
- Long bias - looking for this bounce to continue
- Layer into a position above 35 on the prospect of a run if we do move up
- Look for shorts on failure at the overnight high
- Other than that - follow volume on any intraday reversals as usual - but no real idea where they will have it

Weekly Numbers
Range - 2419.50 -> 2474
Value - irrelevant today - too elongated
S1 - 2406, R1 - 2460.50,

Daily Numbers
Range - 2415.75 -> 2429.50 / 2431.50
Value - 2421.50 -> 2428
Globex - 2427.50-> 2437.25
Settlement – 2428
Today only - 2416, 2433
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart 21 aug

We've settled down in the bottom of the lower range. We did have volatility on Friday but it did take a while to kick in and there was money to be made on both sides. Volume was decent.

I think we'll have a good run if we can push down again but it's hard to have a bias either way. We are at the bottom of the lower range, so that gives you a reason for a long bias.

image of emini s&p futures volue profile chart

We can see there's not much trading last week above 2433, so we could very easily be back to 2460 if we do start to push up.

image of emini s&p futures volume profile

So far overnight we have stuck in Fridays range. It is still summertime, so it's quite possible we revert back to lower volume, lower volatility action.

Plan
- No bias today
- looking for an early trade - see if I can catch something early on
- If no early trade, hold off for 15 mins to see if the market shows it's hand
- Obvious moves would be shorts below 16 and longs above 33.
- Within that, look at yesterdays range/value range for a reaction. If not - no trades...

Weekly Numbers
Range - 2419.50 -> 2474
Value - irrelevant today - too elongated
S1 - 2406, R1 - 2460.50,

Daily Numbers
Range - 2419.50 -> 2439.50
Value - 2425 -> 2434.50
Globex - 2422.75 -> 2431.50
Settlement – 2424.50
Today only - 2416, 2433
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400
image of emini s&p futures daily trading chart 18 aug

A big drop yesterday but not huge volume. I don't like to suggest buying a market that has such obvious downside but I would look out at 2416 - the low of the old range.

image of emini s&p futures volme profile 18 aug

No use of the weekly profile after this drop... extended moves and profiling don't go well together...

image of emini s&p volume profile chart

Down 30 points, pretty much from nowhere. Not really sure if we can blame the current news events for this - but there is a lot going on in the news. With the move down on low volume it's more likely a lack of holiday liquidity.

After a big down day, we look for volatility. It is as common to 'snap back up' after a big drop as it is to have a big move down. In my opinion - it's best to go in with no bias, keep an eye on 'volatile or not' and jump on any volatile moves, possibly scaling in to avert risk

Plan
- Look for volatility and jump on it if it occurs
- careful at 2416
- don't go crazy trying to chase the market up and down if it does move.
- don't trade agains momentum at all - no reversal trades if volatility is there.

Weekly Numbers
Range - 2423.75 -> 2474
Value - irrelevant today

Daily Numbers
Range - 2428.75 -> 2464 / 2468.50
Value - irrelevant today
Globex - 2423.75 ->2434
Settlement – 2428.75
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini S&P futures daily trading chart

Labor day is Sept 4th, so we have a little over 2 weeks left of 'summertime trading' and to be honest, it's not been the worse summer ever. Not as good as 2016 but not awful.

As we can see we had a drop down and tested the top of the May-Jul range and that's held. We are now back in the July onwards.

Looking a the past 2 days, it's hard to pick a bias. In theory it should be "traverse to high of this range" - but as that's failed the past 2 days, it doesn't seem like the smartest bet.

image of emini S&P futures volume profile

We do have an upper distribution showing trade above the low of the larger range. So not much that we couldn't see on the previous chart.

image of emini S&P futures volume profile chart

Same here - so the different charts not helping us much in terms of different perspectives.

Plan
- No bias
- Look for an early trade to see if you can squeeze something out of the first swing
- for longs - wait for tests of yesterdays low or range low (2461)
- for shorts - range high is obvious (79.50) but also watch yesterdays high/val low/val high for a reaction.
- In all cases, let it react first and then jump on momentum. If there's no momentum, there's no trade.
- if (like yesterday) liquidity is high - look to use a larger position size

Weekly Numbers
Range - 2441.50 -> 2474
Value - 2462 -> 2470.50

Daily Numbers
Range - 2461.50/2462.50 -> 2474
Value - 2466.50 -> 2472.50
Globex - 2462.50 ->2468.25
Settlement – 2467.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures trading chart

A big day yesterday - so there's still plenty of traders there. Back to the range though. Hard to have any bias on a day after such a move but as we are at the bottom of the range , we should work our way to the top

image of emini s&p futures volume profile

I wouldn't read anything into the weekly profiles, the large distribution in the middle is just one range day.

image of emini s&p futures volume profile chart

Not much to read into the daily profiles either. I'll be looking for a reaction at yesterdays low but the value area doesn't count for much as we never really traded one area for long yesterday.

Emini S&P Plan
- Open mind today
- Look for a reaction at yesterdays low
- Other than that, look to see if we get decent volatility again and go with it, whichever direction
- Don't force it, if the volume/volatility is low

Emini S&P Weekly Numbers
Range - 2461.50 -> 2488.50
Value - 2469.50 -> 2481

Emini S&P Daily Numbers
Range - 2467.50 -> 2488.50
Value - 2471.50 -> 2486.50
Globex - 2461.50 ->2473.25
Settlement – 2472.75
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures trading chart

Still sticking in the overall range, close to the top right now so on the lookout for headfakes today before we roll over.

image of emini S&P futures volume profile 08 Aug 2017

We popped last weeks high by a couple of ticks. It's held so far, no reaction either way.

image of emini s&p futures volume profile

A pretty dismal day today. Typical summer time action. Look out for volume dropping more today. Typically, we'll go down to 800k and below in the summer time. The action hasn't been that bad this summer relatively speaking, I think it may be time to think about abandoning the S&P for a few weeks. The next few days action should be our guide.

Emini S&P Plan
- Look for an early trade
- Watch out for low volume/indeterminate day
- Be aware of headfakes on any moves outside the range updside
- Look for fades outside of the bulk of last weeks action 67.25 -> 75.50. Obviously that's within the overall range and it would be better if we could probe outside 61-79.50 but we couldn't get there last week so....
- No trades in the middle - unless off overnight high/low or one of yesterdays levels

Emini S&P Weekly Numbers
Range - 2463.25 -> 2477.50
Value - 2469.25 -> 2474.75

Emini S&P Daily Numbers
Range - 2472 / 2473 -> 2478.25
Value - 2474 -> 2477
Globex - 2473.50 ->2478
Settlement – 2477.50
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p trading chart 07 aug

We are still happily trading the range - I have the range at 61-79.50 but it's more art than science - so around those areas. Settlement on Friday was 1 whole tick away from Thursday settlement. So this is all pure intraday speculation in my opinion.

image of emini s&p futures volume profile

Last weeks profile shows we traded a couple of points within that each side, it is very evenly distributed. So it seems traders like trading here. I think the value area is a bit misleading, most of the action was from 67-75 last week.

imag eof emini s&p volume profile

We had some initial volatility on Friday, which does highlight the need to change approach during the summertime. We hit the top of the range early on, then reversed down from there and after that was chop. Going in to today - we hit the top of the range overnight, so we might not see a test into the day session

Emini S&P Plan
- Look for an early trade
- Join any moves to the downside as the range high has been tested
- Look for fades outside of the bulk of last weeks action 67.25 -> 75.50. Obviously that's within the overall range and it would be better if we could probe outside 61-79.50 but we couldn't get there last week so....
- No trades in the middle - unless off overnight high/low or one of yesterdays levels

Emini S&P Weekly Numbers
Range - 2463.25 -> 2477.50
Value - 2469.25 -> 2474.75

Emini S&P Daily Numbers
Range - 2467.25 / 2469.25 -> 2477.75
Value - 2471.75 -> 2474.25
Globex - 2472 ->2477.50
Settlement – 2472
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

Give us 14 days of your time and we will prove it to you with Free courses and support.
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image of emini daily trading chart

Market still in the same range, it'll break at some point of course but until it does - same rules apply!

image of emini S&P futures volume profile

We are still in one single distribution for the week. A Friday break out is low probability, so we'll presume range bound for today. Looking at this I'd see fades below 67 and above 76

image of emini S&P volume profile

Not much to mention about this - other than to watch the daily highs/lows value highs/lows.

Emini S&P Plan
- Trade the range - but look for an early trade off the open
- Watch this weeks range first - so possible fades around the weeks range but also watch 67 and 76
- No trades in the middle - unless off overnight high/low or one of yesterdays levels
- Be patient if there's no trade off the open,wait for an extreme

Emini S&P Weekly Numbers
Range - 2463.25 -> 2477.25
Value - 2469.25 -> 2474.75

Emini S&P Daily Numbers
Range - 2466.50 -> 2473 / 2474.50
Value - 2468.75 -> 2471.75
Globex - 2469.50 ->2471.75
Settlement – 2471.75
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini s&p futures daily trading chart

Still in the narrow range and still rotating around it.

image of emini S&P futures volume profile

A very evenly distributed profile - not much to say on that other than it points to continuation of the range.

image of emini S&P futures volume profile 03 aug

Yesterday was a very technical 'day trader' driven day. A reversal off the overnight high and we traversed the range top to bottom. So even though we are in a range, there's good opportunity.

Emini S&P Plan
- Trade the range - but look for an early trade off the open
- Watch this weeks range first - so possible fades around 64.25 and 77.25 then the larger rage 61.25-79
- No trades in the middle - unless off overnight high/low or one of yesterdays levels
- Be patient if there's no trade off the open,wait for an extreme

Emini S&P Weekly Numbers
Range - 2463.25 -> 2477.25
Value - 2468.75 -> 2474.75

Emini S&P Daily Numbers
Range - 2463.25 -> 2475.75 / 2476
Value - 2465.75 -> 2472.75
Globex - 2467.75 ->2472.75
Settlement – 2473.50
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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image of emini S&p daily trading chart 02 aug 2017

Volume is still reasonable for the time of year but we are stuck in this range at all time highs.

image of emini S&P futures volume profile chart 02 Aug

No signs that we will break the range - fairly even distribution so far this week.

image of emini s&p 500 futures volume profile for 02 aug 2017

Just going over the same area.

Emini S&P Plan
- Trade the range - but look for an early trade off the open
- Watch this weeks range first - so possible fades around 66.25 and 75.50 then the larger rage 61.25-79
- No trades in the middle - unless off overnight high/low or one of yesterdays level
- Be patient if there's no trade off the open

Emini S&P Weekly Numbers
Range - 2465.25 -> 2477.25
Value - 2469.75 -> 2475.25

Emini S&P Daily Numbers
Range - 2466.25 / 2468 -> 2475 / 2477.25
Value - 2470.50 -> 2474
Globex - 2472.50 ->2475.50
Settlement – 2472.25
Today only - 61.25, 66.25, 75.50,79
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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After suffering a 30% drawdown at the hands of “independent financial advisors”, Peter started trading in the early 2000’s, figuring there was no point in paying people to lose money for him. By 2005, Peter was day trading NASDAQ stocks and later discovered the value order flow. He struggled with the way order flow data was presented so designed tools that organized Order Flow information more rationally and Trading was born. Those tools are now the #1 ranked software on Investimonials.com.
Today Peter spends his time trading and helping other traders through the Jigsaw community, articles and free one on one sessions.

Jigsaw Trading

After suffering a 30% drawdown at the hands of “independent financial advisors”, Peter started trading in the early 2000’s, figuring there was no point in paying people to lose money for him. By 2005, Peter was day trading NASDAQ stocks and later discovered the value order flow. He struggled with the way order flow data was presented so designed tools that organized Order Flow information more rationally and Trading was born. Those tools are now the #1 ranked software on Investimonials.com. Today Peter spends his time trading and helping other traders through the Jigsaw community, articles and free one on one sessions.

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