S&P 500 Emini futures coach daily oct 3 trading education

Central banks, the fed and more money into the pool

Overnight Central Banks around the world, including our Federal Reserve, almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the crisis.

The Fed increased the amount of dollars that the European Central Bank, the Bank of England, Canada, the Bank of Japan and other counterparts can offer from $67 billion ``to address the continued elevated pressures in U.S. dollar short-term funding markets.'' Investors stockpiled money on concern more financial institutions would fail after the bankruptcy of Lehman Brothers and the problems with AIG. The cost to hedge against losses on U.S. government debt climbed to a record yesterday.

Watch yourelf out there.
Emini Trading Coach

S&P 500 Emini futures coach for sept 18 levels

Aug 21 S&P 500 Emini futures Daily chart

Swing traders can grab the top of the channel on the daily for a bear flag that is forming, probably kick off this next week. There apperars to be room for another quick and volital bull rally, then the "oh no, what did I buy?" hedge funders and MM's will dump and short sell their own stock.

Looking for this especially in financials. They can confuse the hell out of the pundits for a big set up.

Expecting a move up from here bouncing off of support. Staying in this channel.

Aug 19 2008 Emini S&P 500 futures ES hourly

Trend line busted fell through support, if we break support here we are headed for the open gap at 49.75.

Expecting some big support here.

Lets see where it goes.

Aug 18 2008 Emini S&P 500 futures ES hourly

Still have three open gaps. Supporting green lines, showing a little strength, we could see it bounce up take out the target and then make a run for new lows.

The 200 ema could add a bit of support to price.

Watch out for low volume pushes that move rapidly. Not many big players putting on positoins. Nothing over a thousand today.

Little bit of news tomorrow. No big suprises except for a banking news.