Monday, March 23, 2009

Monday mornings

On Monday mornings, I look at the weekly R1/S1 pivots for the Dow, S&P and NDX futures to tell me what this weeks trading range should be. This coming week, the NQ has a weekly R1 pivot at 1228.50 and a open gap at 1229 and weekly S1 at 1145 and another gap at 1146. So I'm looking for the NQ this week to go from 1230 to 1145 and fill some gaps. Es has weekly R1 at 795 and S1 at 739. Es has a gap open at 820 too (Weekly r2=826). The YM has Weekly r1 @7452 and Ws1 @7047. Sometimes we go from the Weekly pivot point(pp) to weekly r2 or s2. Weekly pivots usually will keep you on the right side of the trade for the week. Weekly pivots can be found at: www.mypivots.com/dn