Futures - Market Summary

The 100 tick range on the Doldrums and a failure of the doldrums bullishness to continue kept me out of momentum trades (since my last post). However, I did catch a bounce off the 50%-61.8% Fib Zone (aka, Fib Zone). This helped to cut back on the chop losses that I sustained at the top of the doldrums range. Below is the 5-min chart of the day. You can clearly see the 100 point run up during the doldrums, but we had only one bar clear that zone. You can also see the the rejection that resulted. The bar on the right side of the chart was in response to AAPL earnings (glad I held onto a partial position - great news on earnings). The bounce off the Fib Zone had the elements that I look for most - two areas of support: (1) Fib Zone, and (2) 200 ema. The only disappointment was seeing the 100 point pop during doldrums. I am not a doldrums trader due to false signals and choppiness that usually happens. Today was a big exception.





Futures Trading Results are below:

YM: -56 ticks (equal to -$280 per one contract position)
ER2: +25 ticks (equal to +$250 per one contract position)

HVP
YM: 13,612
ER2: 803

24-Hour Range: 225 ticks
Regular Session Range: 186 ticks