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US Futures Daily ReportWednesday, February 27th, 2013
Technical Analysis
Table of Contents
Page 2: S&P 500 E-mini (ES); Nasdaq 100 E-mini (NQ)
Page 3: Russell 2000 E-mini (TF); Euro FX (6E)
Page 4: Crude Oil (CL); Gold (GC)
Page 5: 30-year Bonds (ZB); 10-Year Notes (ZN)Page 6: Core Methodology
Page 7: Disclaimer
Daily Pivots
Contract1ST
Support
2nd
SupportNeutral Pivot Zone
1st
Resistance
2nd
Resistance
ES 1483.75 1475.75 1490.75-1492 1498.75 1505.75
NQ 2692.50 2676 2705.25-2709.50 2721.75 2734.50
TF 891.3 866.9 895.9-897 901.3 906.9
CL 92 91.40 92.60-70 93.40 94.10
GC 1590.4 1569 1605-1611.7 1626.4 1641
6E 1.3014 1.2964 1.3064-70 1.3120 1.3176
ZB 14508 14426 14523-14525 14608 14624
ZN 132150 132075 132225-132230 132305 133055
This report is copyrighted. It is authorized for subscribers ONLY. Do not photocopy, otherwise copy or further distribute this
information. We strictly prohibit these practices. We employ tracing technologies and, for the protection of all subscribers, will prosecute
violators.
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ESH3 Futures Contract 60 min Chart Volume-at-Price overlay
NQH3 Futures Contract 60 min Chart Volume-at-Price overlay
Nasdaq-100 E-mini (NQ) Shorts are favored on any test to the top of rotation at 2718. A break of these recent highs will
ikely lead to a test of higher resistance is 2731 39 and is a an opportunity for longs.
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S&P 500 E-mini (ES) We favor continuation shorts below 1491.50 and retracement shorts up to 1498.75 targeting a retest of
1482.75 - 83.75 with further support/targets at 1474 / 1471.50. Above 1498.75 targets a further bounce into 1511.
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TFH3 Futures Contract 60 min Chart Volume-at-Price overlay
6EH3 Futures Contract 60 min Chart Volume-at-Price overlay
Russell 2000 E-mini (TF) Shorts are favored on a test to the rotational highs at 902. A move over this level opens the door
for a deeper retracement and longs are favored for a move to test higher resistance at 915 17.
3
Euro FX (6E) We favor shorts below 1.3166 targeting 1.3040 / 1.3010. Above 1.3166 targets a further bounce up to 1.3233
with further resistance/target at 1.3320.
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CLJ3 Futures Contract 60 min Chart Volume-at-Price overlay
Gold (GC) has broken into resistance at 1603 - 17. A test to the lower boundary of this resistance is a spot to look to position
ongs for continuation of the recent move higher and potentially a break of 1620. Below 1603 negates this bullish scenario.
GCJ3 Futures Contract 60 min Chart Volume-at-Price overlay
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Crude Oil (CL) We favor shorts while below resistance at 92.94 93.33. A move over this level would take the immediate
pressure off and open the door for rotation back to higher resistance at 94.60 95.00.
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ZNH3 Futures Contract 60 min Chart Volume-at-Price overlay
10-Year Notes (ZN) favor longs above 132145. A breach of this level opens the door for further pullback toward breakout
support at 131315 where longs would again be favored.
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30-Year Bonds (ZB) favor longs above 14503. There is potential resistance at 14516 17. The bias in bonds is now
bullish and a drop below 14503 would suggest to wait for a retest of the breakout area at 14412 to attempt to reposition
ongs.
ZBH3 Futures Contract 60 min Chart Volume-at-Price overlay
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Core Methodology
In performing our analyses and making trading decisions, our research utilizesvolumeatprice information and the concepts of Auction Market Theory.
Volumeatprice is valuable tool similar in some ways to Market Profile, which
utilizes timeatprice. Volumeatprice is displayed as a histogram along the price
(vertical) scale and builds across the chart as traded volume occurs at each price.
This view is sometimes referred to as a volume profile or VAP (volumeat-price)
profile.
Volumeatprice analysis provides valuable information about what prices have
seen the heaviest institutional interest and can give insight into where the smartmoney is accumulating and distributing. While traditional indicators are often simply
derivations of price information, volumeatprice provides unique additional
information that is not available to traders only using traditional technical analysis
methods.
By applying volume profiles to specific areas of the chart, information can be drawn
out of the price action identifying areas of support and resistance as well as trend
information. We refer to the areas of heaviest volume within the volume profile
histogram as high
volume areas, or HVAs. The location of HVAs and the priceaction around them are determinants in forming trade setups and determining
expectations and the probabilities of subsequent price action.
Volumeatprice analysis is applicable and useful at all degrees of scale, from
weekly charts to 1minute charts and everything in between. Performing this type of
analysis in multiple timeframes allows us to integrate the broad view of what the
market is doing with the immediate movements at a more granular level. This
allows us to take positions that not only have favorable odds of success but that
also have very favorable risk/reward metrics.
In performing our analyses for our published reports as well as for our trading calls,
we focus only on opportunities that have a minimum expected reward/risk ratio of
2to1 or better.
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This newsletter is written by Associated Persons (APs) and principals of DJ&J and may create
an incentive for more frequent trading so as to generate additional revenue benefitting DJ&Jas well as its principals and APs because of their ability to share in commissions earned by
DJJ.
This publication does not constitute and should not be construed as an offer or the solicitation
of any transaction to buy or sell any futures contracts, foreign exchange units or any
instruments or any derivatives of the products mentioned herein or to participate in any
particular trading strategies. Although the information contained herein has been obtained
from recognized services, and sources believed to be reliable, its accuracy or completeness
cannot be guaranteed. Opinions, estimates or projections expressed in this report may make
assumptions regarding economic, industry and political considerations and constitute current
opinions, at the time of issuance, which are subject to change without notice.
The products mentioned in this report may not be eligible for sale in some states or countries.
Their value and any income which they may produce may fluctuate and / or be adversely
affected by interest rates, exchange rates and other factors.
This information is being furnished to you for informational purposes only, and on the condition
that it will not form a primary basis for any investment decision. Any recommendation
contained in this report is not intended to be, nor should it be construed or inferred to be,
investment advice, as such investments may not be suitable for all investors. When preparing
this report, no consideration to ones investment objectives, risk tolerance or other individual
factors was given; as such, as with all investments, purchase or sale of any futures contractsor foreign exchange unitsmentioned herein may not be suitable for all investors. By virtue of
this publication, neither the Firm nor any of its employees shall be responsible for any
investment decisions.
Before committing funds to ANY investment, an investor should seek professional advice. Any
information relating to the tax status of financial instruments discussed herein is not intended
to provide tax advice, or to be used by anyone to provide tax advice. Investors are urged to
consult an independent tax professional for advice concerning their particular circumstances.
Past performance should not be taken as an indication or guarantee of future performance,
and no representation or warranty, either expressed or implied, is made regarding future
performance.
The authors of this report may, from time to time, have long or short positions in, and buy or
sell the securities or derivatives (including options) of the companies mentioned herein.
Additional information relative to the futures contracts, foreign exchange pairs, other financial
products, or issuers discussed in this report is available upon request.
Disclaimer & Analyst Certification
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