Emini Day Trading Weekly Range

The Emini Trading School sees the March 2011 Emini ES contract trading in a range from 1310.00 to 1322.25 for the balance of this week. If the emini market were to go any lower, we see emini support at 1306.75 and if the emini market were to go higher there is resistance at 1325.50. We will be using these numbers as guidance in our emini trading room with our market profile trading. The Market has reached new highs again this week and is trading in a very narrow range above last weeks levels. We view Market Profile as working in any timeframe so it will work in a weekly timeframe. Our calculations are based on a compilation of data along with known Market Profile Support and Resistance levels. We look at previous weeks and determine a weekly range and then based on the early trading this week and key Market Profile levels we determine the weekly range that we will be looking for the balance of this week. We are seeing strong support so far at these levels. The narrow range could be a concern later in the week but is probably the result of trading at these high levels. The uncertainty in Egypt could have an effect on the market later this week. We remind you though to trade based on what you see not on what you think. Let us know if you have any questions or would like more information on Market Profile trading