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DeWayne Reeves
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DeWayne Reeves is the founder of CFRN and host of a popular radio program heard daily in over 20 countries. A former equities trader, he has focused primarily on the S&P 500 Emini Futures Market for the past 5 years. His insights and trading methodology are a blend of traditional technical... More
My company:
CFRN - Christian Financial Radio Network
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Christian Financial Radio Network
  • S&P 500 Emini Trade Update For Thursday 12/19/13 0 comments
    Dec 19, 2013 5:18 PM | about stocks: SPY, DIA, QQQ

    From the CFRN Trade Desk...

    S&P 500 Emini Futures

    Our most recent TRADE ALERT for the #SP500 #Emini #Futures read as follows: "Consider being short below 1802 to 1800, if the opportunity presents. The Zone below is 1793/1794. Remember, a 2 point payday consistently.... over time... puts you in the top 1%".

    The hourly chart below shows the trade has now triggered and moved from entry to exit 3 Times (NYSE:X). Another example of our belief that important prices and important areas are almost always tested. Keep in mind our daily goal is 8 ticks.

    We suggested yesterday as you will see on the chart, that perhaps the high is in. Should the market spike above our highest Weekly Trading Zone, we would still expect the market to close tomorrow at or below 1805.

    On the chart you will also see the swing low after the Fed announcement was our #WTZ at 1760/1761 and the swing high was our Weekly Trading Zone at 1804/1805. These Zones are made available before the open each Monday morning.

    The only high impact news event tomorrow in the US is GDP numbers. Globally we have a Bank of Japan press conference tomorrow morning at 2AM EST. At 4:30AM EST we have GDP numbers out of Britain. This report will be of particular importance to all Euro traders. At 8:30AM EST Canada reports CPI and Retail Sales, both of which are considered to be high impact news events.

    Tonight, consider being short below 1798 to 1796. As always use a hard stop and do not risk more than 8 ticks on this setup.

    For clarification on this trade or to ask any other questions, call 949-42-EMINI or email 5 Day Free Trial

    Stocks: SPY, DIA, QQQ
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