As long time readers are aware, I publish proprietary daily volatility-adjusted price targets for the S&P 500 Index (SPY) each morning before the market open and weekly targets at the start of each market week. Those appear via Twitter; you can follow the tweets free of charge via RSS by signing up on my Twitter page.
If you look at today's entry, you'll see an extra number at the end:
ESf stands for the ES factor, and it is an approximate conversion factor for the S&P 500 e-mini futures. You multiply each of the target prices by that conversion factor to identify the approximate volatility-adjusted targets for ES.
I will be publishing more on the topic of using the price targets in trading shortly.
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If you look at today's entry, you'll see an extra number at the end:
steenbab 4:53 AM CT- $SPY targets: Pivot=107.35; R1=108.10; R2=108.35; R3=108.60; S1=106.60; S2=106.34; S3=106.09. Already hit R3. ESf 9.96
ESf stands for the ES factor, and it is an approximate conversion factor for the S&P 500 e-mini futures. You multiply each of the target prices by that conversion factor to identify the approximate volatility-adjusted targets for ES.
I will be publishing more on the topic of using the price targets in trading shortly.
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