Greetings!

Wow! December 2009 is already here…

We had some volatility over the Thanksgiving holiday with the news from Dubai.

We are going into the last trading month of 2009 and I hope all of you will enjoy successful trading during December.

Below is a daily chart of the Mini SP500. I still favor the short side as long as we don’t break the previous highs around 1111.

On a different note, if you have not had a free trial yet to the daily “LIVE CHARTS” service I provide, I recommend checking it out and signing for a free trial at: http://www.cannontrading.com/traders/live-day-trading-webinar.php

Futures Trading Levels

Economic Calendar

Economic

10:00 Nov ISM Manufacturing (last 55.7), Nov ISM Prices Paid (last 65), Oct Construction Spending m/m (last 0.8%), Oct Pending Home Sales (last m/m 6.1%, y/y 19.8%)

16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

12:00 Fed’s Plosser to speak on economic outlook. Credit Suisse Technology Conference. AGO Analyst Meeting. FBR Fall Investor Conference. Piper Jaffray Healthcare Conference. UNH Analyst Day. ICSC/UBSW Chain Store Sales (7:45, last 0.0%). TALF Announcements; Redbook Retail Sales (8:55, last 2.8%). ABC Consumer Confidence (last -47). November vehicle sales. Trades Ex-dividend: HD $0.225, AVA

$0.21, EAT $0.11.

Earnings

Before the Open: BECN, LDR, SPLS, UTI. After the Close: GAME, SNDA.

Greetings!

Happy Thanksgiving to you and your loved ones!

Next daily update will be sent on Monday Nov. 30th.

No webinar this Friday.

Holiday trading hours at: http://www.cmegroup.com/tools-information/holiday-calendar/files/2009-thanksgiving.pdf

Good Trading!

Futures Trading Levels

Economic Calendar

Thursday, November 26, 2009

Economic

None Seen

Events

Bond and equity markets closed for the Thanksgiving Holiday.

Earnings

None Seen

Friday, November 27, 2009

Economic

None Seen

Events

Recommend early close for bond and equity markets. Trades Ex-dividend: KO $0.41, MCD $0.55, MCK $0.12, LMT $0.63, SLE $0.11.

Earnings

Before the Open: FRO, SFL.

Greetings!

We are in “Holiday trading Mode” ahead of Thanksgiving.

Market will be closed thursday. Regular trading tomorrow, Wednesday and SHORT trading hours Friday.

Daily chart of SP500 below shows a good short set up if we can get an hourly close below 1098.50.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Oct Personal Income (last 0.0%), Oct Personal Spending (last -0.5%), Oct PCE Deflator y/y (last -0.5%), Oct PCE Core (last m/m 0.1%, y/y 1.3%), Oct Durable Goods Orders (last 1.4%, ex-transport 1.2%), Initial Jobless Claims (last 505K), Continuing Claims (last 5.611M)
10:00 Nov Final University of Michigan Confidence (last 66), Oct New Home Sales (last 402K, m/m -3.6%)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
12:00 Natural Gas Inventories
13:00 Treasury’s 7-year note auction

Events

MBA Mortgage Applications (7:00, last -2.5%). Trades Ex-dividend: NOC $0.43, ALL $0.20, D $0.438, DOV $0.26, CSX $0.22.

Earnings

Before the Open: CONN, DE, TIF.

Greetings!

Trading can be very challenging, mentally, emotionally and financially….hence the importance of recharging and clearing your head during down time.

That’s what I like to suggest for the weekend…relax, clear your head and come back energized for the next trading week.

Below is an hourly SP500 chart.

I got a “blue diamond” which for me is a good indicator for at least a small bounce, however the price action after the weekend will be more important.

Have a great weekend!

Good Trading!

Futures Trading Levels

Economic Calendar

Greetings!

The Russell 2000 has been acting as some what of a leading indicator for stock indices.

On the future side, the mini Russell 2000 is picking up more popularity as a day trading tool as well.

The daily chart below of the Dec. mini Russell 2000 shows that this market has “good respect” to FIBONACCI levels and may provide earlier clues to the direction of the more popular SP500 and the Dow Jones.

A break above 606 will give higher probabilities to new highs in both the Dow and the SP. On the other hand if I see the Russell 2000 brake below 579, I would see higher probabilities for the Dow and SP having a much deeper correction than we have seen so far.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

None Seen

Events

MHS Analyst Day. Trades Ex-dividend: PRU $0.70, JNJ $0.49, AWH $0.20.

Earnings

Before the Open: CRMT, ANN, DHI, SJM, KIRK, MPR.

Greetings!

Hourly chart of the SP 500 with some extended levels to watch for:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30 Initial Jobless Claims (last 502K), Continuing Claims (last 5.631M)
10:00 Sept Leading Indicators (last 1.0%), Nov Philadelphia Fed (last 11.5)
10:30 Natural Gas Inventories
11:00 Treasury note announcement

Events

BoJ Rate Decision. 16:45 Fed’s Fisher speaks at conference in Washington. Morgan Stanley Global Consumer Retail Conference. Trades Ex-dividend: WTS $0.11, ASEI $0.20.

Earnings

Before the Open: BONT, BRC, PLCE, CMED, DKS, GME, HP, KLIC, NWY, NJR, PDCO, ROST, SBH, SCHS, SHLD, SCVL, SSI, SMRT, STP, BKE, TDG, TSL. After the Close: ARUN, CHRD, DELL, DBRN, GPS, HIBB, INTU, MTSC, VRGY, WTSLA, ZUMZ.

Greetings!

Same chart as yesterday.

Weekly chart of SP cash, with FIB levels between Oct 2007 highs and March 2009 lows…

The next few days will provide a clue if this is the extent of the rally and we are approaching major resistance or if the powers behind the scenes have enough power to push this above 1121.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

4:30 BoE minutes
8:30 Oct CPI (last m/m 0.2%, y/y -1.3%; ex food energy last m/m 0.2%, y/y 1.5%), Oct CPI Core Index SA (last 220.053), Oct Housing Starts (last 590K), Oct Building Permits (last 573K)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories

Events

9:15 Fed’s Bullard to speak on economy. 11:45 Fed’s Plosser speaks in Singapore. ALTR Shareholder Meeting. GWW Analyst Meeting. CBG Investor Day. MBA Mortgage Applications (7:00, last 3.2%). CVGW to be added to S after the close. Trades Ex-dividend: TGT $0.17, HON $0.303, AVP $0.21, WHR $0.43, CMI $0.175, AIV $0.10.

Earnings

Before the Open: BJ, CHS, CSUN, PERY, SOLF. After the Close: CYBX, DCI, GYMB, HOTT, JACK, LTD, NTAP, NTES, PETM, PVH, SMTC, WGOV.

Greetings!

Another Monday, another strong trending day…

Take a look at weekly chart of SP cash, with FIB levels between Oct 2007 highs and March 2009 lows…

Sometimes, a picture is worth a thousand words…

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30 Oct PPI (last m/m -0.6%, y/y -4.8%, ex food energy last m/m -0.1%, y/y 1.8%)
9:00 Sept Net Long-Term TIC Flows (last $28.6B), Sept Total Net TIC Flows (last $10.2B)
9:15 Oct Industrial Production (last 0.7%), Oct Capacity Utilization (last 70.5%)
10:00 TAF results
13:00 NAHB Housing Market Index (last 18)
16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

5:30 Fed’s Yellen speaks on the banking crisis in Hong Kong. 10:15am Fed’s Lacker speaks on the economy. 12:30 Fed’s Pianalto addresses housing conference. 14:00 Treasury Secretary Geithner to speak. Citi Credit Conference. Lazard Capital Healthcare Conference. Oppenheimer Industrials Conference. STEC Analyst Day. ICSC/UBSW Chain Store Sales (7:45, last -0.1%). Redbook Retail Sales (8:55, last +1.7%). ABC Consumer Confidence (last -46). Trades Ex-dividend: WYNN $4.00, PH $0.25, ADM $0.14, MSFT $0.13, PCAR $0.09.

Earnings

Before the Open: CSIQ, COV, EJ, HD, ITRN, JEC, MPEL, SKS, TGT, TJX, VIT. After the Close: ADSK, DL, CNQR, LZB, CRM.

Greetings!

Below are some screen shots from my day-trading webinar held each day.

During the webinar I share my approach to day-trading, share live buy/sell alerts, talk about money management and much more!

The trial is free for 2 weeks and if you like the trial, cost is only $119 per month for Cannon trading clients.

Sign up at: http://www.cannontrading.com/traders/live-day-trading-webinar.php

Having a great weekend!

Good Trading!

Futures Trading Levels

Economic Calendar

Greetings!

Back to the russell 2000 chart….it helped us stay away from a false long the last two days and I think it may give us a conformation on the short side if the market can close below 579 on an hourly basis. The daily chart of the mini Russell 2000 has been showing good respect to Fibonacci levels so why not stick with it?

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30am Sept Trade Balance (last -$30.7B), Oct Import Price Index (last m/m 0.1%, y/y -12%)
9:55am Nov prelim Univ of Michigan confidence (last 70.6)
10:30am Natural Gas Inventories

Events

11:30am Fed’s Evans speaks on asset price bubbles in Paris. 8:30pm Fed’s Dudley speaks at Princeton. DG to launch IPO. EL shareholders meeting. Trades Ex-dividend: LLL $0.35, BKH $0.355.

Earnings

Before the Open: ANF, A, JCP, TK, YGE.