Ben squawks the trades as the Existing Home Sales number is released. Consensus 4.650 - Actual 3.83
Support and Resistance Numbers - Pit Traded September SP - 1077.50***, 1071.50***, 1067.00**, 1080.20PH, 1069.00DP, 1064.30PL, 1051.50**, 1042.50**, 1035.00***
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Ben Lichtenstein has appeared on CNBC and Bloomberg TV, has shared his expertise on Bloomberg radio, and has been published in numerous periodicals including Futures magazine and Stocks & Commodities. He is a member of the Chicago Mercantile Exchange with over 17 years of experience working on the trading floor.
The e-mini ES chart is a 4 tick price bar chart: 0.25, 0.50, 0.75, 1.00 - equals one bar. When the bar closes above the Dark Gray 13 EMA it turns Aqua. Closes below, it turns Maroon.
Chart Indicators From Top Left:
Daily e-mini ES pivot lines are; daily pivot (Black), resistance 1 (Red), support 1 (Blue), resistance 2 (Red). support 2 (Blue). resistance 3 (Red), support 3 (Blue), resistance 4 (Red), support 4 (Blue), Light Gray 13 EMA. Black 169 SMA, Red 845 WMA, Light Gray horizontal line (with price) is todays e-mini ES High+Low/2. Light Gray horizontal line (no price) is yesterday's e-mini ES High+Low/2. .
Lower Chart Indicator:
Stochastic Momentum Index
Free DAILY Equity Futures Support and Resistance Numbers (updated by 8:00 cst) http://www.TradersAudio.com/daily/index.php?page=support-and-resistance-numbers
For glossary of terms used http://www.TradersAudio.com/daily/index.php?page=glossary-of-terms
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TradersAudio.com broadcasts LIVE, via the internet, from the Chicago Mercantile Exchange S&P 500 Futures trading floor 8:30 - 15:15 cst Monday through Friday. Holiday schedule click here http://www.cmegroup.com/tools-information/holiday-calendar/index.html
TradersAudio.com subscribers are individual stock, futures and bond traders, fund managers, stock and futures brokers, futures analysts and corporate institutions in countries around the world.
The subscribers of TradersAudio.com are listening to the SP contract trading Live in Chicago - while watching the e-mini ES, another futures contract or stock on their computer.
The broadcaster may call the e-mini ES Globex contract, 'minis', 'the mini' or 'the screen'. Also, they may call the S&P CME SP Pit Traded contract, 'the big contract' or 'the S&P'. The broadcasters are calling the trades within a few feet of the S&P CME SP trading pit and are referring to the S&P CME SP June 2010 contract.
You are hearing the broadcasters quote the current bid and offer of the S&P CME SP pit traded contract - quickly. When they say '0 even bid at one half', that could mean 1080.00 is the bid and 1080.50 is the offer. But could also mean, 1090.00 is the bid and 1090.50 is the offer. They are broadcasting tick for tick and must quote the figures to stay with the pit action. When the pit is packed and active they may just say, '0 at half' or '20 bid at 70'. It is easy to follow along when looking at the e-mini ES chart and trades.
The prices you SEE in the video are the S&P e-mini electronic symbol ES, Globex June 2010 contract. The prices you HEAR are the S&P CME pit traded symbol SP, Pit Traded June 2010 contract. The two contracts trade within a tick or two of each other, during pit traded hours 8:30 - 15:15 cst.
The pit traders are trading the SP and may trade the ES also. When they do, the broadcasters may say 'they're trading the mini' or 'they just sold/bought the mini'.
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*This is not trading advice. These videos are for informational, educational and entertainment purposes only. Full product information on the S&P 500 Futures is available at the CME website http://www.cmegroup.com - We are not a brokerage firm, we do not take trading orders, do not execute trades or manage customer accounts. The Squawk Box is not trading advice and provided for informational purposes only. No claims or representations of profitability are being made herein.
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10:05
May 6th 2010 Stock Market Crashby tradersaudio32,956 views
this is what happens when u pull 3 years of future demand forward
dave997 1 year ago
way to go Ben !
scanlonized 1 year ago