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[Dwer]

Market Force: Bearish/Mixed. Look for any higher early prices to sell off early and see prices go dead or very low volume as Greenspan speaks the next 2 days.

Trade Setup Summary for Monday, April 19, 2004:
Trade Summary:

B@1130.00/S@1134.25-35.00 Up to +5.00 pts.

Recap of Monday's Action:
Good Morning and a special welcome to all of our new subscribers from around the globe today.

21st Century Futures is unique in that we provide a daily reading of the primary Market Force for the day and then an exact, crystal clear directional call of where the market is expected to go.

We also provide the short term underlying directional bias by using our longer term Market Force indicators which is the direction we expect the market to go over the next few days to weeks.

We are often able to give longer term directional bias too. We hope you enjoy your subscription and look forward to answering all of your S&P500 trading questions.

Our Headline Call for Monday was for the market to move higher as our Market Force was bullish. This usually refers to the direction of the S&P500 but can often mean the entire market.

On Monday our Headline Call was right on as we had the S&P500 open lower and move lower early. Although it was a small range day and very slow in volume eventually the prices rose over the course of the day.

The trade we made today caught very near the low of the day and sold right within a point or so of the high depending on where our subscribers got out.

Each day on this Morning Call briefing I copy the report to you that I give on the Market Wrap Up from our LIVE UPDATE SERVICE. On this service I offer live reports on the market moment to moment as needed to keep you up to speed with our Market Force indicators, Trailblazer floor charting methods, High Five indicators, news from the Pits as needed as well as indications from Market Profile and the Value area. We also offer exact trade recommendations.

Here was today's Wrap Up.

"We got long early today just above the BreakDown when our indicators and chart work showed that we would be having an up day which could start quickly.

The prices bounced off our recommended entry of around 1130.00 and moved higher.

Today was a very tight range slow day almost all day until the final 1.5 hours of trading. We had projected this and informed our subscribers in the briefings about this. After some higher testing of the BreakOut(which got missed by a tick) we moved lower for continuous testing of the 1130 price which we had talked about on the briefing being an important number. After some grinding down at 1130 and moving our stop up some prices moved back up and reached our stated projection at the 1135 area.

Traders were advised to take profits between 1134.25 and 35.25 and this ended up being the high area of the session.

I have done some extensive research work RECONFIGURING my TCF2004 ideas and will be applying them here on this Live Update service. Today was an example of these updates applied in real time.

They will take some more time, configurations, and samplings of current market environment but should start creating more of the day trend profits that we saw in 2003 only with the new 2004 market and all it's nuances.

Today's Call & Briefing:
Our Headline Call for today is to be CAREFUL as we have Greenspan speaking the next 2 days and either we will get some wild volatility or things will go very quiet in the trade.

If we get a HIGHER OPENING AND EARLY HIGHER PRICES today we are going to look to SELL EARLY. We would then expect a pullback after which the price action would go dead.

Now I cannot say for sure that the price action will be really slow but if Monday was any indication of the market waiting in anticipation of something Greenspan may say then today could be the same type of day. Also Wednesday.

So what I am looking for is an early sell off from any higher opening and then seeing prices go quiet.

THERE IS A VERY GOOD CHANCE WE WILL TRADE EARLY AND THEN NOT TRADE UNTIL LATER IN THE SESSION UNTIL AFTER GREENSPAN'S TALK IS OVER.

LIVE UPDATE TRADERS BE READY EARLY FOR A POSSILBLE SELL ON AN EARLY MOVE UP TO THE SELL PIVOT TARGET OR SLIGHTLY HIGHER.

Value Area: 1,129.90 - 1,133.70
We are going to be watching for an early move higher to the Pit Bull area at 1137.00 and then a pullback into the Value area shown here. If we get this then there is a chance that we could go and test Monday's lows again.

An early drop however would help sustain the overall underlying bullish trade it is expected for Wednesday IF we get a sell off today.

Buy Pivot Target: 1,129.50 - 1,130.50
No Trade at this pivot today but watch for support at 1124.25 (-4.25 stop/pivot).

Sell Pivot Target: 1,136.50 - 1,135.50
We are going to be looking for an early Sell Trade up around this 1137.00 area which is the Pit Bull resistance also.

If we get a FLAT OPENING and then an early move up to this 1136-37 then go ahead and Sell this area.

It will be a higher risk trade but I expect worth it.

Be ready early in the session right off the opening price.

LIVE UPDATE SUBSCRIBERS: WILL HAVE A PRE-OPENING CALL FOR TODAY ON THIS SPECIAL TRADE SETUP. WE NORMALLY DO NOT TRADE UNTIL AFTER THE FIRST HOUR BUT TODAY IS SET UP FOR THIS EARLY SELL OFF POSSIBILITY.

10 Day "Pit Bull" Moving Average: 1,137.00
We are going to be looking for EARLY RESISTANCE HERE AT THIS NUMBER and short it if we get up here on a flat to higher opening.

Pro Trader's Action
I am going to be looking for a RARE EARLY SHORT TRADE today right off the opening at the 1136-37 area.

The Market Force indicators are suggesting an early sell off could be in the cards if we get this higher early run up. There are several important indicators standing out that suggest this .... so let's go for it.

Good luck with your trades today and I'll see you in the action right off the opening hopefully.

All the best, Mohan