Morning Client Note Wednesday, September 17, 2014

Size: px

Start display at page:

Download "Morning Client Note Wednesday, September 17, 2014"

Roderick Chambers
5 years ago
Views:

1 Morning Client Note Wednesday, September 17, 2014 DOW Futures (RR) $17,035 and head higher to fixed targeted-resistance at $17,100. The overnight low was $17,036 and the overnight high was $17,064. Price closed above developing support $17,050, this session ended BULLISH. Daily Trend Analysis Bullish Above $16,990 Going into Day Session - price is opening within the day s range and above developing support $16,990, this is bullish for the session. Day s Expectation - is for price to hold above fixed-support at (RR) $17,020, and head higher to developing target-resistance at $17,150. If we see price below (RR) $17,020, then price will head lower to fixed target-support at $16,960. $17, pts = $17,150 $16, pts = $16,890 Weekly RR-$16,960 Monthly RR - $16,590

2 S&P Futures (RR) $1,988 and head higher to fixed targeted-resistance at $1,996. The overnight low was $1,989 and the overnight high was $1,992. The day s close was above developing support $1,990, this session ended BULLISH. Daily Trend Analysis Bullish Above $1,980 Going into Day Session - price is opening within the day s range and above developing support $1,980, this is bullish for the session. Day s Expectation - is for price to hold above fixed-support at (RR) $1,988, and head higher to developing target-resistance at $2,000. If we see price below (RR) $1,988, then price will head lower to fixed target-support at $1,980. $1, pts = $2,003 $1, pts = $1,973 Weekly RR-$1,985 Monthly RR - $1,940

3 NASDAQ Futures (RR) $4,050 and head higher to fixed targeted-resistance at $4,074. The overnight low was $4,052 and the overnight high was $4,059. The day close was at developing support $4,054, this session ended NEUTRAL. Daily Trend Analysis Bullish Above $4,035 Going into Day Session - price is opening within the day s range and above developing support at $4,035, this is bullish for the session. Day s Expectation - is for price to hold above fixed-support at (RR) $4,050, and head higher to developing target-resistance at $4,075. If price is below (RR) $4,050 then we will see price head lower to fixed target-support at $4,035. $4, pts = $4,085 $4, pts = $4,015 Weekly RR-$4,075 Monthly RR - $3,950

4 RUSSELL 2000 Futures (RR) $1,142 and head higher to fixed targeted-resistance at $1,150. The overnight low was $1,142 and the overnight high was $1,144. The day close was at developing support $1,143, this session ended NEUTRAL. Daily Trend Analysis Bullish Above $1,139 Going into Days Session - price is opening within the day s range and above developing support at $1,141, this is bullish for the session. Day s Expectation - is for price to hold above fixed-support at (RR) $1,139, and head higher to developing target-resistance at $1,153. If price is below (RR) $1,139 then we will see price head lower to fixed target-support at $1,134. $1, pts = $1,154 $1, pts = $1,129 Weekly RR-$1,160 Monthly RR - $1,135

5 Understanding the Morning Client Note Report Overnight Recap - provides insight on how our research has held up during the overnight session compared to what prices are doing. Daily Trend Analysis - if our expectation is for prices to go higher and prices are above the Overnight trend level, then prices will continue in the direction of the bias. If price has come close or even loses this level by a small margin and then regains the level we should still see the bias stay intact. If price loses this level early in the evening and doesn t regain the level then the following overnight session could be bearish, we would have a bias change. Going into Overnight Session - if prices are opening above or below the cash session range is very important information because prices open in range 90-95% of the time. It s important to understand where price are opening from one session to the next. When they don t open in range the buying or selling pressure is extreme, and it s crucial to know the strength of the current price action. Price opening above or below cash session ranges should never be faded. Days Expectation - is the bias for the direction of price. We have (RR) risk reward areas for defining the short term trend. If prices fail to maintain above support or fail to hold below resistance then prices will head to the fix levels. The (RR) levels are located at a place where we can define the direction of the short term trend, with the short term trend staying intact this reveals what the intention of price is. The (RR) levels are at an area where we can see considerable range in either direction. That s why price maintaining above or below and we see expansion for the session. - this is our expected range calculation for the day s range. We add or subtract the range from key (RR) levels and this gives us targets, and extremes levels that we should not see price breach, or breach by very much. Price above or below these extremes areas are very low odd events. It does happen on occasions but they are rare. Weekly (RR) - risk reward level, be aware of this level all week.

6 Monthly (RR) - larger risk reward level to be aware of incase price is near.

The Cowboy Gap Fade. SFO Webinar May 18, Scott Andrews

The Cowboy Gap Fade. SFO Webinar May 18, Scott Andrews The Cowboy Gap Fade SFO Webinar May 18, 2010 Scott Andrews Disclaimer This material is intended for educational purposes only and is believed to be accurate, but its accuracy is not guaranteed. Trading