Futures Pointing to a Higher Open...

1:41 pm ET - In our Model Portfolio (see Learn the Discipline in the left hand column for details) we bought 4 ESM9 contracts at 9:16:06 am MT for 906.00...at 11:40:23 am MT we sold 4 contracts for 909.25 for a gain of 650.00, after entry and exit commissions of 28 it was a net gain of 622.00 in just over 2 hours...if you have an interest in trading futures please see Futures Trading in the left hand menu under Key Topics...today's range bound market has made catching a strong trend non-existent, but there have still been opportunities present... 12:17 pm ET - The ES has settled into a trading range of 10 points with a high of 912.25 and low of 902.25 during the first 30 minutes of trading...since that time price has bounced between the high and low...currently right in the 907.25...unless something changes looks like we'll see a range bound trading day... 11:05 am ET - In our Model Portfolio (see Learn the Discipline) we bought 4 ESM9 contracts at 7:55:11 am MT for 905.00...at 9:03:24 am MT we sold 4 contracts at 908.25 for a gain of 650.00, after entry and exit commissions of 28 it was a net gain of 622.00 in just over an hour...if you have an interest in futures trading please see Futures Trading in the left hand menu... 10:10 am ET - ES pulled back to 902.25 in the first 20 minutes of trading and have bounced giving a nice support bounce entry opportunity...overnight high was 913.50 which is near the 912.25 reached in the first 15 minutes...this area represents short term resistance... BMO - ES +5 and NQ +4 futures are higher in pre-market trading pointing to a higher open. If SPX moves above Wednesday's 914 high, this week's resistance...look for the SPX to rise to the 924 resistance. Look at these charts for Friday... (click image to enlarge) At the Open on Friday SPY – hammer KOL – hanging man new high close SHLD – doji ADBE – hammer STLD – hanging man at horizontal resistance CTV – doji EL – hammer JOYG – hanging man at horizontal resistance USD – hanging man JNPR – white candle breakout continuation STT – white candle at horizontal resistance FAS – hammer ZION – hammer OSG – white candle confirm inverted hammer LEAP – gap down on news of stock offering WAB – doji TRLG – spinning top at horizontal resistance PWRD – large white candle breakout continuation X – spinning top at horizontal resistance