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MrTopStep gives futures traders a view from within. From the floor of the CME to trading screens, experienced professional traders offer their observations, insight and knowledge to help you improve your mastery of the markets.
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  • Mr.TopStep's Chart Of The Day From NinjaTrader 0 comments
    Jul 17, 2012 2:59 PM

    (click to enlarge) Today's chart displays 60 minute, Daily, and Weekly time frames of the September eMini S&P 500 futures, accompanied by 50 and 200 period Simple Moving Averages calculated off of the 60 minute candlesticks as well as an RSI (relative strength index) indicator. The conditions of the indicators on the chart appear to be heading toward repeating a pattern from a previous two weeks ago. If the 50 period moving average crosses above the 200 period and the RSI levels raise to near the 65 mark, we may see some similar market moves as those of two weeks ago. Happy Trading!

    DISCLAIMER:You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. Any decision to purchase or sell as a result of the opinions expressed in these report(s) will be the full responsibility of the person(s) authorizing such transaction(s). BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE(NYSE:S) AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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