S&P Futures Analysis 5/9/12
Traders, We are looking at the S&P Futures Contract. We have on a trade but we will not focus on what the S&P is doing as of this moment. We have been showing weakness which we anticipated and had the capability of getting short out of the pivot swing high. We now want to anticipate the next trade setups before they occur. We want to combine our PFA Zoning with market structure to determine the direction and trading opportunities. After determining the direction is down, do we continue short selling or become patient and wait for the markets to give us permission. We must ask ourselves one question, "Where are we on the altitude"? The altitude is determined by measuring from the previous major swing low to swing high. We have dropped very abruptly and have reached areas of low altitude. Notice how we have failed to make a new swing low..........
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