Charlies Comments 04-20-2018

Trade Date: 4/20/2018 Commentary (delayed until 10.20 AM ET)
ZN R1-R4: 119-28-119-295, 120-00-120-015, 120-035-120-05, 120-08-120-12

ZN S1-S4: 119-23-119-25, 119-16-119-20, 119-08-119-12, 119-00-119-04

ZN/ZB Comments: No news to drive the mkts today. Little news OVN either. This usually yields a trading range day. Equities are mixed OVN. Asia is down, EU/UK is up and the ES is unchanged. This also suggests a trading range mkt today. Fed Governor Williams speaks at 1115 and may be the source of news driven volatility. Today’s news: Baker Hughes Rig Count is expected at ??? (previously 1110/1008). No news focus. Maybe the ES will influence today’s direction. Hasn’t so far this week. Resistance begins at 119-28/120-00 and support is at 119-20/24 as the mkt opens. Will play for a lower mkts this AM and want to sell into early strength. If 119-20 then holds, I can trade from the long side of the mkt. First sell is 119-27/31 followed by 120-03/07. Cover at 119-21 OB. First buy is 119-20/24 followed by 119-13/17. Exit at 119-31 OB.

ZB R1-R4: 143-30-144-01, 144-03-144-05, 144-08-144-12, 114-17-144-22

ZB S1-S4: 143-19-143-20, 143-11-143-16, 143-04-143-08, 142-28-143-00

ES R1-R4: 2698-2700, 2703-2708, 2710-2715, -

ES S1-S4: 2690-2692, 2685-2688, 2675-2680, -

ES Comments: Asia sold in response to yesterday’s selling in the US mkts. The EU/UK mkts recovered and did rally a bit. The ES is close to unchanged as the mkt rolls into the day session’s opening. No news OVN. None scheduled for this AM. The Fed’s Williams speaks at 1115 and may spark the mkts, if his comments are off script. . Today’s news: Baker Hughes Rig Count is expected at ??? (previously 1110/1008). No news focus. Resistance begins at 2700/05 and support is at 2680/85 as the mkt opens. Can trade from either side this morning. The Globex structure supports at retest of 2700 and or higher prices. Will try the long side first. IF 2700/05 then holds, can get short. First buy is 2686/91 followed by 2676/81. Exit at 2700 OB. First sell is 2699/2704 followed by 2709/14. Cover at 2686 OB.


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