My TIMM Trading Pit Commentary – Wk Of 3/18/19

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The Trading Pits are, in some ways, the main meeting place for TIMM. Here you will see folks sharing insights and asking questions about markets.

Commentary from this past week includes:

The DOW futures nearly down 300 points, the only quality demand I see is the 60 min demand level at 25600, another 100 pts lower.

The Russell futures trade got away from me, taking a stab at shorting the S&P 500 futures. However, the markets are strong today, we will see shortly if the move is exhausted or not.

Russell futures eventually moved higher and back into daily supply and turned from a 2 min supply zone within the daily supply zone. The trade set-up is to go short.

The Russell 2000 futures falling from a 2 min supply zone…was hoping it penetrated the zone a bit more before considering going short.

30 yr bond approaching a 4 hr supply zone, if price drops could push the us equity market up.

Price sitting right in the middle of the 4 hr supply and demand zones on the Nikkei, starting to really like this market.

Going to pass on taking the trade, the zone was created during the overnight session, lowering the odds of trade set-up working.

Here’s a set-upon oil…2 min supply zone, arrival looking good, but I don’t like all the trading to the left. Will have to look at things on a higher time frame to assess location.

News came out yesterday about China-US trade talks hitting a snag, us equity markets fell and in the process created a 2 min supply zone, but with the FOMC meeting this afternoon, I’m being cautious.

Nasdaq futures sitting in daily supply now, but without the DOW or S&P 500 futures reaching higher timeframe supply, I anticipate the Nasdaq futures to move a bit higher.

S&P 500 futures marching to the 2900 level with out much sellers in the way.

As the dollar weakens, the Euro continues to move higher. There are several levels within this 4 hr supply zone, I’m monitoring.

Next major area on oil I’m watching is the $64 level.

Oil broke the 4 hr supply zone and breaking out to the upside…with room to run to the low $60s.

Price sitting right in the middle of the 4 hr supply and demand zones on the Nikkei, starting to really like this market.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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