Emini Futures Trading Analysis- 08Jan2020

Date and Time: Wed, January 8, 2020 4:13 pm, New York Time
Hello Folks, the S&P500 futures are at 3258.50
Today’s Range: 3181.50 – 3267.50

The futures went up till 3267.50 today, and profit taking has come towards end of the day, and futures have come down to 3258. Today’s candlestick pattern on S&P500 futures is very rare. It is super bullish, but it is coming after a very good rally in last 8 weeks, so I have to study the entire market setup carefully tonight.

Overall, the setup is bullish above 3200, and 3220 is the main support level on the downside. The futures may try to test 3280 in the next 1-2 days. There is no new General Trade for now. Let me first complete my analysis of the current setup. I will mail you tomorrow morning with updates. Thanks.

Date and Time: Wed, January 8, 2020 1:37 pm, New York Time
Hello Folks, the S&P500 futures are at 3257.50
Today’s Range: 3181.50 – 3261.50

With S&P500 futures breaking below 3200, various negative scenarios were looking possible (that’s why the futures fell below 3200 in the first place!). So it was a lot of analysis effort last night (almost a night out) to decide the plan for today, but in the end it has paid off very well!!

We did two trades with S&P500 futures in last 18 hours:
(a) Long from 3200 to 3230 (Optional Trade)
(b) Long from 3238 to 3258 (General Trade)

And we aborted Trade#1 at 3240 last evening, with 2 points gain, because the the futures were not behaving as per expectations, which was a very good decision, and it saved 18 points in Stop loss.

The S&P500 futures now have upside target of 3280.
The futures are currently at 3257.50, so 22 points upside gain is possible even from current level. Stop loss on all long trades will be 3220 or higher. There is no clear support before 3220 level, so we may have to use that as Stop, though the futures are not likely to go there.

[Bonus Trade]
“Buy at 3258 for Target 3278 with Stop loss 3230”

Our Emini Futures Trading Strategy has consistently been to buy on corrections and during the early part of price recovery. However, breakout trading is also profitable, and but we have to buy with suitable stop loss. I am checking if we can do another General Trade between 3250 and 3280, using 3230 as Stop. I will get back to you after an hour, surely before market close with next steps. Thanks.

Date and Time: Wed, January 8, 2020 6:14 am, New York Time
Hello Folks, the S&P500 futures are at 3240.00
Today’s Range: 3181.50 – 3243.00


The futures are racing back up after the large down move of yesterday after market hours, which would have cleaned out many long positions.

Based on how the futures have gone down sharply till 3180 and bounced back, a retest of 3260 is very likely now, and support is present at 3220.

Trade#3 of Jan 2020 (shared earlier today) did not trigger because the futures kept moving higher from 3225 (the level when the trade was shared). Please note the revised trade below.

General Trade#3 of Jan 2020 (revised)
Buy at 3238 for Target 3258 with Stop loss 3218
Please Note: This trade is with 5 Micros, or with 0.5 Emini Futures equivalent, or half the trading capital. For example, Traders with 2 Emini Contracts as their trading size, can buy 1 Emini contract, and Traders with 10 Emini Contracts as their trading size, can buy 5 Emini contracts.

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