Trading Session Recap (Week 39; Day 2)

Looking at the week behind 1 day @ a time…..

Good trading is always going back over the trading day and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the trade is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Market Traded:  YM, ES, NQ (RTH)

Weekly Total:   6 setups;  203 Ticks NET  ( NQ: 161 | ES: 42 | YM: 0) 


Econ Data

  • Redbook:  continues to point to deceleration
  • S&P Corelogic Case-Shiller HPI: unchanged in data for July. Year-on-year, prices slipped
  • PMI Services Flash: flat based
  • Consumer Confidence: on the upswing
  • Richmond Fed Manufacturing Index: remained soft in September
  • State Street Investor Confidence Index: Globally, institutional investors remained tilted towards caution

Kenneth Polcari Newsletter Highlights

Volatility appears to reign supreme as September comes to a close….Nervousness is permeating the tone of the mkts around the world

CLICK HERE to read more of his daily newsletter and subscribe


Recap/Outlook Video: 

Markets Covered: ES, YM, NQ, CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN


Daily Stats    

  • 2 Markets.   
  • 2 Setups.  
  •  133 Ticks
    • NQ:  91 Ticks
    • ES:   42 Ticks

Session Highlights

  • Missed the good one! Caught the second wave.
  • Overall trend of the day: Uptrend
  • Fib projections levels hit:
    • DOWNSIDE: 
    • UPSIDE: NQ; YM; ES

Charts of Interest

ES

  • Overnight session and Pre-market.

9-27-16-es-overnight-and-premarket

  • Using the NYSE AD line, market internal in conjunction with price action

9-27-16-es-ad-line-at-tops

  • Reject at the 4hr -50ema lines up in the AM session at the AD 750 line.

9-27-16-es-to-the-4hr-50ema-w-ad-line

NQ

  • NISS-NQ AD line rejects as price action enters back into the cloud

9-27-16-nq-ad-line-at-tops

YM

  • ALL 3 indices with ALL charts in TREND.

9-27-16-ym-to-the-4hr-50ema

CL

9-27-16-cl-in-trend

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……view additional charts posted intraday via Twitter

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Setup Highlights

Setups

  • ES

9-27-16-es-setup-1

  • NQ

9-27-16-nq-setup-1

—————————————-

RTH Closing Charts

  • OVERALL TREND
    •  Price on a 4 hour chart in relation to the 50/144 and T3-50ema
      • NQ:  UPTREND – Above T3-50 and 50 above 144ema
      • YM:  DOWNTREND pullback – Above T3-50 and under 50/144ema (downtrend)
      • ES:   DOWNTREND pullback  – Above T3-50 and under 50/144ema (downtrend)

9-27-16-big-pic-post-market

Top Row: Daily chart with supporting 50/200ma and volume based on a 60 day moving average

Bottom Row: 4 hour chart. T3 moving averages. 50/144ema. 

———————————

Open Gaps

  • NQ gap closed today
  • CL forms new upside gap

9-27-16-open-gap-post-market

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