October 26th, 2014
Published Daily

ESM13 – June E-Mini S&P (Last:1555.500)

by Rick Ackerman on March 27, 2013 12:17 am GMT

The 1617.84 S&P 500 rally target flagged in today’s commentary implies that trading should be done from the long side right now, preferably via camouflage. To assist you in this task, I’ve reproduced a 10-minute chart of the E-Mini S&Ps that contains the kind of subtleties we require when attempting to board such a well-advanced trend. Indeed, an entry signal that I’ve labeled with an ‘x’ has been tripped in the last hour. I am recommending that you use the 10-minute bars, as I have, to identify similarly promising opportunities. _______ UPDATE (11:49 a.m. EDT):  In the chat room this morning, an alert ‘Kibitzer’ signaled a bull trade that is working out nicely at this point.  Here’s the recaptitulation: 1) (11:07 a.m.) K: We have a tentative C at 1551 (x= +1.75 points); 11:13 x triggered; 2) RA:  (11:13 a.m.) Thank you, Kibitzer. Off an actual low of 1550.75, entry was signaled at 1552.50. P=1554.00, where half is to be exited. D=1557.00; K (11:19): Midpoint success; RA (11:30): Yes, success indeed. U are out of half, with a 1551.00 cost basis for what remains. Use a fixed stop-loss at 1550.50, o-c-o with an order to close out an additional 25% of the original position at 1557.00.

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