Today's key levels in the eminis

Big surprise: Thursday's session was another sideways non-event. Nicely profitable for intraday players with swings going both directions, but other than that nothing was accomplished in resolution of the months'-long congestion.

ES (+$50 per index point)

S&P 500 futures bobbed along in sideways fashion between Wednesday's closing value resistance and S1 support. The finish was unchanged, with some profitable swings in between.

ER (+$100 per index point)

Same story for the Russell 2000 futures... closed out near the previous finish, tradable bobs going both ways thru it all.

ES (+$50 per index point)

S&Ps have coiled between 1285 and 1295 with brief blips outside that miniscule range over the past ten straight trading sessions. Holding 38% resistance for now, unable to break above 1300 barrier thru numerous failed attempts.

ER (+$100 per index point)

Small Caps cling to the high end of their range, definitely where the buyers are found more days than not. While this index remains 100% bullish in bias across the board, it hasn't gone anywhere at all since the end of January.

Summation
I'll relish the days when we can talk about all the price levels changes, trend moves and unbelievable happenings in stock markets once again. For now, this section is too much of a repeated mantra: no change in bias or outlook.

Don't get me wrong... intraday action is methodically profitable. We've had a very good week in spite of Monday being the toughest day in a long time. The next three sessions made up for that in spades, and we still have today to work with.

At this point in time I merely sit down at the screens by the crack of 9:00am to do my extensive "research" (check emails, cruise ESPN, Miami Herald for Dolphins news) and await the opening bell's familiar ring. Trade the long side when indicators are bullish, trade the short side when indicators are bearish, fold up shop and walk away before 4:00pm EST.

That's it, the total extent of my trading day. Haven't turned on CNBC since the last FOMC meeting, with no plans to do so again until the next one. No more hours of nightly chart research and absolutely no study of fundamentals (yuck!) that have anything to do with financial markets. Just show up for the open, take the clear signals as they come, rack up the profits and go have fun. To be honest, it's a work schedule I've grown very fond of in a hurry.

Hopefully the NFL powers to be will spend more time than that hammering out a finalized CBA that lets our football season commence as usual, and their golden goose will remain firmly clutched to its nest. In coach Saban we trust!

Trade To Win
Austin P
www.CoiledMarkets.com
(Online video clip tutorials... open access)

Austin Passamonte is a full-time professional trader who specializes in E-mini stock index futures, equity options and commodity markets.
Mr. Passamonte's trading approach uses proprietary chart patterns found on an intraday basis. Austin trades privately in the Finger Lakes region of New York.