Emini S&P Futures Daily Pre-Market Prep July 2017

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

image of emini s&p futures trading chart

A push down yesterday, so we broke the 2 day range but we are now back and testing the 7 day low, which is minor support (2461.50). Volume was decent which means there's people still around, even if there's not much for them to trade.

imge of emini s&p futures volume profile

The volume profile shows a lower distribution this week, which tapers off around 2464. So above that I'm presuming we are going to travel back towards the weeks highs.

IMAGE

yesterday was a 24 point range which felt bigger because of recent low volatility. Looking to see if we can follow through with that volatility today.

Emini S&P Plan
- Longs above 64 (to top of range), Shorts below 61.50 on any downside momentum off the open
- Will be keeping an eye on volume/volatility. It'll be nice to see a repeat of yesterdays range but it's very likely to rever to choppy.
- Early trade only if there is a really obvious high volume node close to the open price

Emini S&P Weekly Numbers
Range - 2456.750 -> 2480.25
Value - 2467.25 -> 2479.75

Emini S&P Daily Numbers
Range - 2457 -> 2480.50
Value - 2464.50 -> 2480.50
Globex - 2462.25 ->2472.50
Settlement – 2464.25
Today only - 2461.25, 2464
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 trding chart 27 july 2017

We didn't get a boost from the FOMC, volume was about 1 million and we just traded the prior days range yesterday.

image of emini S&p futures volume profile

The upper distribution is growing out and holding. We'll be looking for this to hold, fade the extremes 2473 & 2478.75.

image of emini s&P futures volume profile 27 july

Not much to say other that Wednesday was same as Thursday

Emini S&P Plan
- Look for an early trade as it will probably revert to chop
- Look for signs of the short term range holding, fades at or beyond 2473 & 78.75
- This range is small and will break at some point, so the key is to avoid getting trapped while fading the range
- Look also at the usual tech levels overnight high/low, yesterdays high/low, yesterdays value area

Emini S&P Weekly Numbers
Range - 2463.50 -> 2480.25
Value - 2468 -> 2479.50

Emini S&P Daily Numbers
Range - 2471.50 -> 2478.50 / 2479.75
Value - 2474 -> 2477
Globex - 2473.25 ->2480
Settlement – 2473.25
Today only - 2473 & 78.75
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 26 july

Low volume still, we did push up through the top of this little range we've been in the last 5 days. This is a very tight range but then we are heading into August. It's not very clear and the danger is reading too much into the action.

image of emini s&p futures volume profile july 2017

We have 2 distributions for the week but really it's such a small range that it's not worth considering them separate. We do have to look out at 2472 for a reaction as we didn't spend much time there but it's also the middle of the weeks range so not a great spot. So I'll want to see something fairly obvious before trading any reaction from that point.

image of emini s&p futures volume profile chart

We can see that we popped up overnight yesterday and then went sideways. It's FOMC day today which means it's likely to be low volatility in the morning.

Emini S&P Plan
- Look for an early trade right off the open as FOMC malaise might kick in
- Look for reactions in the AM off yesterdays levels and 72 but look for something quite obvious
- Be prepared not to have much on in the AM, which means there might not be any trades
- Flat into FOMC and see if we can take a momentum move off it (although we are not expecting any surprises)

Emini S&P Weekly Numbers
Range - 2463.50 -> 2478.75
Value - 2463.75 -> 2473.75

Emini S&P Daily Numbers
Range - 2466.25 /2472.50 -> 2478.25
Value - 2475 -> 2478
Globex - 2472 ->2476.75
Settlement – 2474
Today only – 2472
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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An early prep 'cause I have to go to the Thai Embassy in London tomorrow AM...

image of emini s&p futures trading chart 25 july 2017

Not much happened yesterday, no new prices discovered.... so for todays prep - we could read yesterdays... Quoting We have a minor potential support level at 2461.75 - so eyes on that over the next few hours. If it holds, then I think we should see some decent upside participation (for the time of year). If not - I'll be watching the high of the old range for a hold and if that fails, bias goes short with expectation of a move to low 2400's.

image of emini s&p futures volume profile 25 july 2017

From yesterday too... Quoting The weekly profile shows we are between 2 nodes. 2460 below and 2470 above. Looking for a test of either of these areas to hold too. Again, waiting for the hold and then the following participation for a momentum play in the short term.

image of emini s&p volume profile 25 july 2017

Yesterday we were looking to play as a technical day and in the end we held the overnight high and low. We also got a decent first leg off the open. So it was what we wanted to see.

We could be starting a range week in which case, looking for headfakes at the extremes as we test Mondays range. I still have the same overall opinion.

Emini S&P Plan
- slight upside bias
- look for a trade off the open and watch out for chop after
- watch the technical levels - overnight high, yesterdays high/low, value high/low, 2460, 2461.75, 2460
- go with any bounces off those levels

Emini S&P Weekly Numbers
Range - 2448 -> 2476.50
Value - 2451.50 -> 2470

Emini S&P Daily Numbers
Range - 2463.25 -> 2470.50
Value - 2465.50 -> 2469
Globex - too early to note levels
Settlement – 2469.50
Today only - 2460, 2461.75, 2470
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 24 july 2017

We have a minor potential support level at 2461.75 - so eyes on that over the next few hours. If it holds, then I think we should see some decent upside participation (for the time of year). If not - I'll be watching the high of the old range for a hold and if that fails, bias goes short with expectation of a move to low 2400's.



We have a minor potential support level at 2461.75 - so eyes on that over the next few hours. If it holds, then I think we should see some decent upside participation (for the time of year). If not - I'll be watching the high of the old range for a hold and if that fails, bias goes short with expectation of a move to low 2400's.

imge of emini s&p futures volume profile 24 july 2017

We have pretty much held Fridays low overnight, which is neutral and pointing towards range day.
Overall , we have a few nearby technical levels to play off, which might give us a short term bounce. Other than that, not really seeing much in terms of a longer term play. Volume is low after the break up and moves are fairly weak. So a short term game today.

Emini S&P Plan
- slight upside bias
- look for a trade off the open and watch out for chop after
- watch the technical levels - overnight high, yesterdays high/low, value high/low, 2460, 2461.75, 2460
- go with any bounces off those levels

Emini S&P Weekly Numbers
Range - 2448 -> 2476.50
Value – 2451.50 -> 2470

Emini S&P Daily Numbers
Range - 2462.75 /2470.25 -> 2475.25
Value - 2465 -> 2469
Globex 2463.75-> 2470.50
Settlement – 2469.75
Today only - 2460, 2461.75, 2470
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

An interesting day yesterday - we've had a decent push up, on low volume but still better volume than the prior days. It was also a fairly small range day. So it's still a bit of a coin toss. I'd like to see a pullback but will have to follow any moves up if they occur as that's the direction of the market. I see it as weak upside but I can't fight it.
First place I'll be looking for a pullback is the high of the prior few days around 61.25 and below that the old high at 43.25.

image of emini s&p futures volume profile

From a profile perspective, we also have a distribution below us with a top around 60.00. So watching that on a pullback too.

image of emini s&p volume profile

On the daily charts, I'll also be looking at yesterdays value area (which has held overnight) as well as the highs/lows from the day session and overnight.

Emini S&P Plan
- Long bias
- Would like to see a pullback to 60-61.25, 43.25 or a common level
- If no pullback, will try to scale into a position on the long side off any backstop in the order flow that appears
- For short side, I'll take a short only on a major shift in delta and decent downside volume
- Overall, I really want the market to show it's hand before engaging today

Emini S&P Weekly Numbers
Range - 2448 -> 2472
Value - 2454 -> 2460.50

Emini S&P Daily Numbers
Range - 2457.75 /2461.25 -> 2471
Value - 2463.50 -> 2469
Globex 2469.25-> 2472
Settlement – 2471.50
Today only - 43.25, 60-61.25
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

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An early prep again as I'm off to Lego Land tomorrow. That's about as exciting as it gets on Planet Peter Davies....

image of emni s&p trading chart 19 july

We are staying above the old range but volume is dropping, so I still see us as being in the same situation - "top of range unresolved". Still waiting to see if we'll drop into the range or push to new highs. I favor the former but will trade when it's clear.

image of emini s&p futures volume profile

The weekly profile shows us trading around the weeks range. The range wont hold forever and any initial move out might of this weeks range shouldn't have us jumping on that as a sustained move - especially if we break the weeks range upside - it may falsely appear to have the energy to continue up.

image of emini S&P futures volume prfile for trading session19 july

We has a push down through Mondays range but it was just a headfake down and we reverted to the range. Basically what we were on the lookout for in the prep yesterday...

Quoting - looking for headfakes on any breaks out of the small range we've marked so far this week. Very cautious on taking continuation trades with this low volume

Emini S&P Plan
- No bias - waiting for signs we'll have another push up or if we'll fall back to the range
- will fade common levels today (yday hi/lo, yday value, overnight hi/low).
- other than that, waiting for a break to jump on
- looking for headfakes on any breaks out of the small range we've marked so far this week. Very cautious on taking continuation trades with this low volume

Emini S&P Weekly Numbers
Range - 2448 -> 2461
Value - 2455 -> 2459.25

Emini S&P Daily Numbers
Range - 2454 /2454.25 -> 2460.50
Value - 2456.25 -> 2459.25
Globex 2454.25 -> 2460.50
Settlement – 2458.50
Today only - 2456
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 18 july

We have move up a little - but I still see this as "top of range unresolved". We didn't move much and volume is low. So it's not as if we can say it's a clear break at this point. I still favor a fall back into the range - but I am not putting money on that. I'll just wait for resolution and trade the resulting move.

image of emini s&p futures volume profile

Not much yet from the weekly profile. The upper distribution from last week tops out around 46. So if we do move down, we may find support there.

image of emini s&p futures volume profile for 18 july

This does look like a range week setting up. So I'm watching yesterdays range/value for cues. If we look at yesterday - the overnight range held, so a technical day but a choppy one. Overnight we've pretty much stayed in the range.

Emini S&P Plan - No bias - waiting for signs we'll have another push up or if we'll fall back to the range
- will fade common levels today (yday hi/lo, yday value, overnight hi/low).
- other than that, waiting for a break to jump on
- looking for headfakes on any breaks out of the small range we've marked so far this week. Very cautious on taking continuation trades with this low volume

Emini S&P Weekly Numbers
Range - 2410.25 -> 2461.25
Value - 2413.25 -> 2442.50

Emini S&P Daily Numbers
Range - 2454 /2454.25 -> 2460.50
Value - 2456.25 -> 2459.25
Globex 2454.25 -> 2460.50
Settlement – 2458.50
Today only - 2456
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 17th july

A break to the upside - but on really low volume. We did break to new all time highs but on low volume. That has me leaning towards a fall back to the range. Still - all options are on the table and having a hard bias never makes for good trades, to the plan for Monday is to look for signs of whether we'll continue up or fall back into the range and play accordingly.

image of emini S&P futures volume profile 17th july

The upper distribution from last week tops out around 46. So if we do move down, we may find support there.

image of emini s&p futures volume profile chart

Monday will be a day to also watch for the usual daily levels - high/low/val/vah. Any decent retrace to a common level that holds should bring in buyers and a move we can jump on.

Emini S&P Plan
- No bias - waiting for signs we'll have another push up or if we'll fall back to the range
- will go long on any retracement to a common level
- would prefer shorts below Fridays low but will jump short moves
- a day for waiting for clarity and not jumping at shadows

Emini S&P Weekly Numbers
Range - 2410.25 -> 2461.25
Value - 2413.25 -> 2442.50

Emini S&P Daily Numbers
Range - 2442 /2444.25 -> 2461.25
Value - 2447 -> 2457
Globex (prep done before globex open)
Settlement – 2445.50
Today only - 2456
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 s&p futures daily trading chart

Low volume, still at the top of the range. We've pushed through it but not as much as the prior pushes through. Right now, there is no reason to think we'll make another push up to new highs. Trading will be tricky till this area is resolved one way or the other.

image of emini s&p futures volume profile chart 14th July

We are building an upper distribution from 39-46 so we can look at fade=ing those prices short term while waiting for the overall range to be resolved.

image of emini s&p futures volume profile

The daily charts aren't much help other than to confirm the narrow range.

Emini S&P Plan
- Simple day - watching for the usual pushing and shoving at the extreme of the range, looking to get on board only when direction has become clear.
- Try to get on board with an early trade
- look for fade trades around 39 and 46
- continuations up only on high volume
- patience is key still
- Careful short into 29 and long from there if it holds

Emini S&P Weekly Numbers
Range - 2410.25 -> 2447.25
Value - 2413.25 -> 2441.25

Emini S&P Daily Numbers
Range - 2439 -> 2447
Value - 2442.25 -> 2446.25
Globex 2442.50 -> 2447.25
Settlement – 2445.50
Today only - 2429, 2439, 2446
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 13th july

Back to the top of the range, so now looking for the market to roll over and head back to the bottom of the range. Looking for headfakes on any push up through the top of the range and long only on high volume moves.

image of emini S&p futures volume profile 13th july

Looking at the weekly profile, the lower distribution tops out around 2429, so caution if we are short going in to 29 as it may hold.

image of emini s&p futures volume profile

We do have an upper distribution and so if volume is low, we may just spin around the top here before the market decides if it wants to drop back into the range or move to new highs.

Emini S&P Plan
- Simple day - watching for the usual pushing and shoving at the extreme of the range, looking to get on board only when direction has become clear.
- continuations up only on high volume
- patience is key - volume yesterday was only 770k contracts, which favors the range holding but also favors not much happening
- Careful short into 29 and long from there if it holds

Emini S&P Weekly Numbers
Range - 2410.25 -> 2446.50
Value - 2417.25 -> 2429.25

Emini S&P Daily Numbers
Range - 2422.50 / 2434.75 -> 2443.75
Value - 2438.50 -> 2442.50
Globex 2439.525 -> 2446.50
Settlement – 2440
Today only – 2429
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 11th july

Still working up slowly towards the top of our range. Volume was extremely low yesterday, less than 900k contracts. Possibly the summer slowdown and possibly just the fact we are in them middle of a fairly old range and there's a lack of interest generally.

image of emini s^p futures volume profile 11th july

So far this week, we are trading around the major distribution from last week (2423 - 2430.25).

image of emini s&p futures volume profile

We still had a 10.5 point range yesterday. Not too bad and upward progression. Right now we are in the middle of the range though.

Emini S&P Plan
- Long bias - looking for range to complete upside (2443.25)
- Looking for an early trade
- Look for fade trades at 2423 (down to yesterdays low 2419), 2430.25, otherwise proceed with caution as we are in a choppy area

Emini S&P Weekly Numbers
Range - 2405.25 -> 2436.50
Value - 2418.25 -> 2431.25

Emini S&P Daily Numbers
Range - 2419.25 -> 2430
Value - 2424-> 2430
Globex 2422.50-> 2427.75
Settlement – 2424.50
Today only - 2423, 2430.25
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 s^p futures trading chart

We pushed through the bottom of the range with high volume (1.8M). Last time we had a high volume move through the bottom of our range we bounced back up. So today looking to see if this is a headfake or not.

image of emini s^p futures volume profile

Above us we have high volume at 2423, so wary if you are long into that area.

image of emini S&p futures volume profile

The day session dropped less than 20 points. So not a huge sell off. This makes me more inclined to think we'll go back into the range.

Emini S&P Plan
- No bias
- Watching to see if we revert to the range or continue down
- looking for an early trade
- after that, looking to follow the volume, short below yesterdays low (2405.25) and longs above the old range low (2416.75)

Emini S&P Weekly Numbers
Range - 2405.25 -> 2436.50
Value - 2419.75 -> 2431.25

Emini S&P Daily Numbers
Range - 2405.25 -> 2422 / 2430.50
Value - 2412.25 -> 2420.25
Globex 2407.50-> 2411.75
Settlement – 2408.50
Today only - 2416.75
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 s&p futures trading chart

We are having trouble lifting off the lows. Volume was still a bit low yesterday at 1.2M contracts. On the lookout for more volume coming in today, sort of presuming we had the 4th July 'hangover' yesterday and some traders still on vacation.

image of emini s&p futures volume profiile

An ugly profile so far this week - indicating that we may continue to range 2423-2430.

image of emini s&p futures volume profile

Same picture here - in a narow range short term.

Emini S&P Plan - Looking for an early trade - Still biased upside overall for range completion upside - No trades between 2423 and 2430 - looking to fade those prices - Will take continuations outside of 23-30 only if volume picks up
No levels today as they aren't that relevant being on such low volume.

Emini S&P Weekly Numbers
Range - 2419.25 -> 2436.50
Value - 2424 -> 2429.50

Emini S&P Daily Numbers
Range - 2419.15 -> 2432.25
Value - 2426 -> 2431.50
Globex 2423.50-> 2430.50
Settlement – 2428
Today only - 2423/2430
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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imge of emini s&p futures trading chart

Still in the range, lows have been tested, so presumption is for us to move to opposite end of the range.

image of emini s&p future volume profile

As per Monday - last weeks profile is very even and this weeks contains a pre-holiday and a holiday day.

image of emini s&p futures volume profile chart

Again - not much to see here because of the holiday.
Holiday weeks are tough because the history of prior days isn't that reliable as the actual amount of trade is so low and we can reasonably expect that swingers didn't leave so many trades on over the holiday period. We need volume to return, that could happen today or it could take a few days to recover.

Emini S&P Plan Not much to play off because of the holiday - Looking for an early trade and an overall long bias, expecting the range to hold - Other that that it's a wait and see day - wait and see if real volume comes in and where it wants to take us.
No levels today as they aren't that relevant being on such low volume.

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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Today isn't the best day to trade with the 4th July holiday tomorrow, volume will likely be quite low.

image of emini s&p futures trading chart


Still stuck in this range, so still looking to play range trades. That means a long bias till the top has been tested.

image of emini s&p futures volume profile chart


The weekly profile doesn't help us much - its pretty evenly distributed.

image of emini s&p futures volume profile


The daily profiles show us danger of getting caught in the 2418-2429 range. Just keep an eye on this - we may trade within it today as we are expecting low participation. It's more Wednesday that we'll have to be wary of it spoiling the whole week.

Emini S&P Plan - low expectation day with holidays tomorrow - look for an early trade - play the long side if we can get above 29 - expect downside breaks to be headfakes

Emini S&P Weekly Numbers
Range – 2402.25 -> 2457.50
Value – 2415.75 -> 2437.25

Emini S&P Daily Numbers
Range - 2414.75 / 2418.50 -> 2429.75
Value - 2419.50 -> 2425.50
Globex 2421.50 -> 2429.75
Settlement – 2421
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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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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