August 30, 2012
Morning Mini-Russell Checklist:
Heat
Map: What is it telling us?
The Mini-Russell
has -0.4% so we know to consider this a moving market.
has -0.4% so we know to consider this a moving market.
Overnight
Highs & Lows:
Highs & Lows:
This market
is sideways, sitting on top of the PLOD and confirming a range-bound market at
this time. Very similar to Crude
Oil today. Buy-the-lows at support ,sell-the-high
at resistance will be the best way to trade this market personality.
is sideways, sitting on top of the PLOD and confirming a range-bound market at
this time. Very similar to Crude
Oil today. Buy-the-lows at support ,sell-the-high
at resistance will be the best way to trade this market personality.
Are we
inside or outside day today?
inside or outside day today?
We are
sitting on the PLOD so we are inside.
sitting on the PLOD so we are inside.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone is support below us.
· AB=CD Pattern is bearish and gives us
a sell-zone around 840.0.
a sell-zone around 840.0.
· Price-channel is bullish and we are
in the middle.
in the middle.
Where
will a reversal be likely today?
will a reversal be likely today?
We expect to
see the price-reversal at the price-channel lows around 808.0. we can also buy at support as low as 805.3
see the price-reversal at the price-channel lows around 808.0. we can also buy at support as low as 805.3
Market Personality on the E-Mini Russell makes this morning very challenging. We have a buying opportunity at the lows, however, we need to see some conviction from these buyers when we get there. 
