ATW SR Levels Wednesday February 3rd
SP 500 (ES March10):
R3: 1123.50 - 1125.00
R2: 1115.50 - 1117.00
Swing Zone: 1109.50 - 1111.00
R1: 1104.50 - 1106.00
<<< Initial Resistance: 1099.50 - 1101.00 >>>
<<< Initial Support: 1091.50 - 1093.00 >>>
S1: 1083.50 - 1085.00
S2: 1078.50 - 1080.00
S3: 1073.50 - 1075.00
Russell 2000 (TF March10):
R3: 634.50 - 636.00
R2: 629.50 - 631.00
Swing Zone: 622.50 - 624.00
R1: 618.50 - 620.00
<<< Initial Resistance: 613.50 - 615.00 >>>
<<< Initial Support: 609.50 - 611.00 >>>
S1: 605.50 - 607.00
S2: 601.50 - 603.00
S3: 597.50 - 599.00
Crude Oil (CL March10):
R3: 81.40 - 81.70
R2: 80.60 - 80.90
Swing Zone: 79.50 - 79.80
R1: 78.50 - 78.80
<<< Initial Resistance: Not Active >>>
<<< Initial Support: 76.80 - 77.10 >>>
S1: 75.70 - 76.00
S2: 74.20 - 74.50
S3: 72.60 - 72.90
EURUSD(Forex):
R3: 1.4260 - 1.4290
R2: 1.4190 - 1.4220
Swing Zone: 1.4110 - 1.4140
R1: 1.3990 - 1.4020
<<< Initial Resistance: Not Active >>>
<<< Initial Support: 1.3910 - 1.3940 >>>
S1: 1.3810 - 1.3840
S2: 1.3730 - 1.3760
S3: 1.3630 - 1.3660
Gold (April10):
R3: 1163.00 - 1167.00
R2: 1152.00 - 1156.00
Swing Zone: 1140.00 - 1144.00
R1: 1126.00 - 1130.00
<<< Initial Resistance: Not Active >>>
<<< Initial Support: Not Active >>>
S1: 1105.00 - 1109.00
S2: 1095.00 - 1099.00
S3: 1086.00 - 1090.00
08:21:51 {Ashish's Summary of the Prep Commentary}
ATW Morning Prep & Price Action Profile Summary
Wednesday, February 03, 2010 - S & P 500 Futures
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Futures Premium(discount) to the Cash Factor used: -4
R3: 1123.50 - 1125.00
R2: 1115.50 - 1117.00
Swing Zone: 1109.50 - 1111.00
R1: 1104.50 - 1106.00
<<< Initial Resistance: 1099.50 - 1101.00 >>> (Yesterday high)
<<< Initial Support: 1091.50 - 1093.00 >>>
S1: 1083.50 - 1085.00 (Yesterday low)
S2: 1078.50 - 1080.00
S3: 1073.50 - 1075.00 (Mon low)
KEY ZONES: IS & R1
PRICE ACTION PROFILE: Well, the run up to the unemployment report is being validated this week as the market has recouped nearly 45% of the selloff(correction), in just 2 days! So, is it going to take a breather after gaining some 34 points in a 2 day sprint/impulse? As long as the market stays at or above IS it will maintain its' bullish bias, and increase the odds for it running stops above the 1000 level. We are in quarterly earnings report 'season', which may have a significant effect on the price action. Again, a reminder, there is a historical basis for the Mon/Tues high/low strongly tends to be, either the high or the low for the week. There is a strong DPTL zone just above the current price level.
ECONOMIC REPORTS (all times are U.S. Eastern): MBA Purchase Applications at 7:00; Challenger Job-Cut Report at 7:30; ADP Employment Report at 8:15; Treasury Refunding Announcement at 9:00; 3-Yr, 10-Yr & 30-Yr Note Announcement at 9:00; ISM Non-Mfg Index at 10:00; Petroleum Status Report at 10:30; Kevin Warsh Speaks at 1:00.
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*Risk Disclosure: Unique experiences and past performances do not guarantee future results! Testimonials herein are unsolicited and are non-representative of all clients; certain accounts may have worse performance than that indicated. Trading stocks, futures, options and spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the markets trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the markets. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss.
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CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Substantial risk is involved. Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. Don't trade with money you can't afford to lose. Nothing in our course or workshop shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.
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