Here are the key levels for emini traders

Tuesday's session was a gap & dribble lower for stock index futures. One sell program series orchestrated midday when volume is lightest pushed markets to session lows, then price action fluttered sideways for the duration.

We've seen no accelerated selling, now sharp surge lower and subsequent bounce higher. Just orderly distribution and absence of buyers. This type of price action is not what lasting lows are made of.

ES (+$50 per index point)

S&P 500 futures traded into the 62% support and closed right at the 50-day moving average magnet as expected. Pre-market futures at the time of this writing are several points below the 50-day moving average and right back to key 62% value again. A daily close below this level brings 1255 into sight for next potential targets to come.

ER (+$100 per index point)

Russell 2000 futures held the first test of 50-day moving average on Tuesday, now poised to open the session just below as we head towards the pit-session period today. 710 and then 700 are next on the menu if 718 fails to hold support on a daily closing basis.

Summation
Today is the last trading session for March emini futures as front-month contracts. Thursday rolls over to the June "M" contract as front-month. This happens only four times per year, and often creates some serious volatility and/or directional moves in the process. We've had no outsized intraday session moves in quite awhile... be prepared for potential of a serious directional push and possibly large-range event in the next few sessions ahead.

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.