E mini Tradestation Day Trading

The S&P E Mini Futures contract closed up today. After an up day on yesterday we did most of the work between the 61.8% and 100% retracement level closing above the 100% level and the resistance level of 918. If the S&P can hold the 918 level next week then this bodes well for a short term bottom that has been put in. The markets had a weak up day yesterday, so we will have to see what next week brings. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

The chart shows both trend trades, listen to the video for more details.  Today the record was 4-0 in called trades. Trading 3 contracts, one would have had a profit of $1350.00 following my trade management.

Trend Trades - 2-0
Scale in Trades - 2-0
Counter Trend Trades - 0-0

Join us in the Day Trading Room where you also receive the Swing Trading System  (The Mechanical Monkey) to get daily swing trades on the ES as well as Equity calls for the NASDAQ.

I use  Uncle Mike’s Trading Assistant,  a software product add on for Tradestation, check it out, it will help in your trading experience.

Uncle Mike

 

 Day Trading the S&P Emini Futures 010609: Play Now | Play in Popup | Download (4)

Hammer Black Body Formation

The Dow was down slightly today. After an up day on Friday, the markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The StoRSI, our momentum oscillator, closed near its upper range trigger level at +86.89. This high reading signals a possible end to the upside momentum. Price could consolidate from this area, due to the overbought condition of the market (which has caused momentum to indicate the oversold conditions).

The T8 which is trending downwards to flat since August 20 or so and now is in a sideways pattern. There is room between price and the uptrending  T8 for a retracement back to  the T8. The market could easily continue to consolidate and or continue down from here. The T8 exponential moving average is our preferred exponential moving average and it dictates our thoughts on the direction of the trend.

The candlestick formation posted today was a “hammer ( a weak one)”.  which signals indecision. Many times, this formation leads to a reversal in trend. Confirmation must take place tomorrow but the extension of the wick to the downside gives us another hint that the market could begin to move up.

***Volatility Alert:

During the third week in July, volatility returned to the major stock indices. For approximately four years, the markets have had low to very low volatility. This significant change has ushered in swings of 100, 200 & 700+ points, sometimes on a day-to-day basis. Stock indices tend to be either volatile, or not, for three to five years at a time. Expect continued volatility. The current volatility cycle has just started its volatile period. We feel this is the early stages of volatility and we continue to believe it is here to stay.

Uncle Mike

 

 Dow Directions 01/05/09: Play Now | Play in Popup | Download (50)

The S&P E Mini Futures contract closed up today. After an up day on Wednesday we did most of the work between the 61.8% and 100% retracement level closing above the 100% level and the resistance level of 918.  If the S&P can hold the 918 level next week then this bodes well for a short term bottom that has been put in.  The markets had a strong up day but on low volume, so we will have to see what next week brings. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

Today the record was 3-0 in called trades. Trading 3 contracts, one would have had a profit of $650.00 following my trade management.

Trend Trades - 1-0
Scale in Trades - 0-0
Counter Trend Trades - 2-0

Subscribe to the Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Room where we day trade the S&P E-mini futures, and the Swing Trading Subscription ( The Mechanical Monkey ) where we discuss our mechanical trades. I use Mike’s Trading Assistant that is a software product for Tradestation users, it is an Indicator Package on Steroids!

Uncle Mike

 

 Day Trading the S&P Emini Futures 010209: Play Now | Play in Popup | Download (107)

The S&P E Mini Futures contract was up today. After a weak up day yesterday we did most of the work between the 61.8% and 100% retracement level closing above the 61.8% level. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.  We close above the T8, our prefered moving average.

The Daily Swing Trades have not been triggered today.

Today the record was 2-0 in called trades. Trading 3 contracts, one would have had a profit of $650.00 following my trade management.

Trend Trades - 2-0
Scale in Trades - 0-0
Counter Trend Trades - 0-0

Subscribe to the Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Chat Room where we day trade the S&P E-mini futures, and the  Swing Trading System. ( The Mechanical Monkey ) where we discuss our mechanical trades. 

Uncle Mike

 

 Day Trading the S&P Emini Futures 123008: Play Now | Play in Popup | Download (140)

ALTR Profit of $1.10 Share

There was a signal with my Swing Trading System, The Mechanical Monkey, on 12/29/30 to Buy ALTR at the open.  We take the trade, just like a monkey, and we were in long.  At Mid day today, I received a signal that triggered a sell at the open tomorrow.  In order to protect profits, there was an alert to move the stop to Break Even late morning. Then as the market advanced, we brought the stop to $15.50 and then late day we brought our stop to $15.75 or close the position prior to the close.

We were in the trade 2 days for a profit of 7.03%!

 The 2008 profit for this system now stands at 27% for the year!  I am looking forward to another prosperous 2009.  Come join me in trading this system.  Visit my site at www.teachtalktrade.com for more inforamtion on my Swing Trading System, and even take a Free 7 Trial!

 Uncle Mike

 

 Swing Trading, The Mechanical Monkey: Play Now | Play in Popup | Download (128)

The S&P E Mini Futures contract was down today. After a few weak days we had another low volume day with little price movement and we did most of the work between the 61.8% and 100% retracement level closing above the 61.8% level. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

Today the record was 2-0 in called trades. Trading 3 contracts, one would have had a profit of $550.00 following the trade management.

Trend Trades - 2-0
Scale in Trades - 0-0
Counter Trend Trades - 0-0

Subscribe to the Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Room where we day trade the S&P E-mini futures, and the Swing Trading Subscription ( The Mechanical Monkey ) where we discuss our mechanical trades.I have a new software product for Tradestation users, Tradestation Indicator Addon, My Trade Assistant, it is an Indicator Package on Steroids!

Uncle Mike

 

 Day Trading the S&P Emini Futures 122908: Play Now | Play in Popup | Download (101)

Another wild day on Wall Street. We had a hammer candle  put in today on the Dow as well as a black crow type formation also ( although a weak pattern). This does bodes well for tomorrow and prices would tend to extend in the same direction based upon this bearish candle formation. We closed just below the 50% retracement level and can not seem to get any traction to the upside. 

The momentum oscillators are still heading to the downside but have turned neutral today. The moving averages are still pointing down and that would suggest that there is more downside action to be had.

Please take advantage of the FREE TRIAL to my Swing Trading Subscription The Mechanical Monkey where we discuss and trade mechanically NASDAQ issues.

Aslo check out the new software product for Tradestation, My Trade Assistant, it is an Indicator Add on and it is like trading on Steriods!

Uncle Mike

PS Check out our “Trade As A Business” course ( www.teachtalktrade.com/business_plan1.html ) as we will be starting a new course in the comming weeks.

Technorati Profile

 

 Day Trading the S&P Emini futures: Play Now | Play in Popup | Download (195)

The S&P E Mini Futures contract was down today. After a strong down mid session, the S&P reversed its course and ended up day with a small loss.  It did  most of the work between the 50% and 61.8% retracement level closing above the 61.8% level. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

Today the record was 2-0 in called trades. Trading 3 contracts, one would have had a profit of $400.00 following the trade management.

Trend Trades - 1-0
Scale in Trades - 1-0
Counter Trend Trades - 0-0

Subscribe to the < a href=”http://www.teachtalktrade.com/swingtrading.html” title=”Swing

Trading”>Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Room where we day trade the S&P E-mini futures, and the Swing Trading Subscription ( The Mechanical Monkey ) where we discuss our mechanical trades.I have a new software product for Tradestation users, Tradestation Indicator Addon, My Trade Assistant, it is an Indicator Package on Steroids!

Uncle Mike

 

 Day Trading the S&P Emini futures: Play Now | Play in Popup | Download (167)

The S&P E Mini Futures contract was up today. After a strong up day yesterday we did most of the work between the 50% and 61.8% retracement level closing above the 61.8% level. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

Today the record was 4-0 in called trades. Trading 3 contracts, one would have had a profit of $1,250.00 following my trade management.

Trend Trades - 4-0
Scale in Trades - 0-0
Counter Trend Trades - 0-0

Subscribe to the Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Room where we day trade the S&P E-mini futures, and the Swing Trading Subscription ( The Mechanical Monkey ) where we discuss our mechanical trades.I have a new software product for Tradestation users, Tradestation Indicator Addon, My Trade Assistant, it is an Indicator Package on Steroids!

Uncle Mike

 

 Day Trading the S&P Emini futures: Play Now | Play in Popup | Download (194)

The S&P E Mini Futures contract was neutral today. After a neutral day yesterday we did most of the work between the 61.8% and 100% retracement level closing above the 61.8% level and at the moving averages. The markets posted supply and demand pictures that imply a turn or at least a pause while it ponders the situation.

The Daily Swing Trades have not been triggered today.

Today the record was 6-0 in called trades. Trading 3 contracts, one would have had a profit of $1550.00 following my trade management.

Trend Trades - 4-0
Scale in Trades - 1-0
Counter Trend Trades - 1-0

Subscribe to the Mechanical Monkey ( my Swing Trading System ) to get the daily swing trades on the ES as well as Equity calls for the NASDAQ.

Please take advantage of the Day Trading Room where we day trade the S&P E-mini futures, and the Swing Trading Subscription ( The Mechanical Monkey ) where we discuss our mechanical trades.I have a new software product for Tradestation users, Tradestation Indicator Addon, My Trade Assistant, it is an Indicator Package on Steroids!

Uncle Mike

 

 Day Trading the S&P Emini futures: Play Now | Play in Popup | Download (143)