Today is Sunday, March 14th and this post is for Fridays market.

The market was very slow in trading volume, one reason was that it was roll over day. That is when most traders stop trading the past contract month, which was “H” and roll over to the new, “M”. So your new symbols should be ESM10.

Here is a way to get some of your data to flow, which can be a problem for some. With the new contract month, you don’t have very much past data to go by and it can make it a little hard to get a feel for the market rhythm this way.

Adjust your charts to @es and you will see continuous data. If you are using tick charts, range charts, volume charts or any other type of trading chart, it will bring back some of the data for you to trade off of. It is the same prices as the actual contract month, so you should not have any problems there.

Friday I had a small loss on the day. Trying to do to much and my head was not in the game. I was only down not even 1 point but commission make a little bigger. I will make up for any loss and then some this week. It is time to rack up a few points, I hope we have some volume to go with that order. We will see.

This week will be an important one. The market is basically at a double top with the S&P and Nasdaq markets and the Dow Jones is still lagging. The nasdaq has actually out performed pretty nicely and is up against some pretty definable resistance. A pullback would not be a surprise at these levels. I will put a chart of the S&P futures along with a cash chart of the Dow and NASDAQ markets all in a daily bar chart. You can see for yourself how things have fared over the last week. A pull back to support would not be abnormal from here as traders will be looking for any good reason to sell at this previous high. For prices to come down to the 1127 level would not be out of the question.

That is going to be it for tonight. I can see that the futures have what appears to be a head start on a retracement right now, but anything can change until tomorrows opening.

Stay alert and trade safe;

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Tags: resistance, retracement, S&P futures