Greetings!

Amazing how time flies by in general and in the trading world we live in specifically.

Wishing you and your loved ones, Happy, healthy 2010 and may it be a great trading year!

Regular hours for most markets tomorrow and all markets are closed Friday.

More information in our weekly newsletter.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

8:30am Initial Jobless Claims (last 452K), Continuing Claims (last 5.076M)
10:00am Dec NAPM-Milwaukee (last 57)
10:30am Natural Gas Inventories

Events

Bond markets recommended early close. Trades Ex-dividend: BBY $0.14.

Earnings

None Seen

Greetings!

Another light volume session, market having trouble against 1126.

Daily chart of SP cash along with FIB retracment from highs back in Oct 2007 to lows made in March 2009 for review below. To fit two years of daily data, the chart is quite condensed:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

9:45am Dec Chicago Purchasing Manager Index (last 56.1)
10:30am DoE Crude Oil/Gasoline/Distillate Inventories
1:00pm Treasury’s 7 year note auction

Events

Trades Ex-dividend: RTN $0.31.

Earnings

None Seen

Greetings!

Just a few trading days left in 2009 and i suspect that the rest of the week will be similar to today, i.e. lower volume, slow paced market.
Mini SP for example trades an average of 2 million contracts per day, today we had approximately 500,000 contracts or 255 of average daily volume. Adjust your trading accordingly!

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

9:00am Oct S/CS Home Price Index (last 146.51), Oct S/CS Composite-20 (last -9.36%)
10:00am Dec Consumer Confidence (last 49.5)
1:00pm Treasury’s 5 year note auction
4:30pm API Crude Oil/Gasoline/Distillate Inventories

Events

ICSC/UBSW Chain Store Sales (7:45, last +0.6%). Redbook Retail Sales (8:55, last 1.5%). ABC Consumer Confidence (last 49.5). Trades Ex-dividend: CAH $0.175.

Earnings

After the Close: ONSM

Greetings!

Understanding the trading enviroment you are in is cruicial on a daily basis and during the trading day itself.

We are in holiday trading mode, lighter volume, different market behavior – keep that in mind.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Nov Personal Income (last 0.2%), Nov Personal Spending (last 0.7%), Nov PCE Deflator y/y (last 0.2%), Nov PCE Core (last m/m 0.2%, y/y 1.4%)
09:55 Dec Final University of Michigan Confidence (last 73.4)
10:00 Nov New Home Sales (last 430K, m/m 6.2%)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
11:00 Treasury note announcement
15:00 Aug Consumer Credit (last -$21.6B)
15:30 Mexico Nov Unemployment

Events

04:30 BoE Minutes. BoJ Minutes. MBA Mortgage Applications (7:00, last 0.3%). Trades Ex-dividend: PM $0.58.

Earnings

Before the Open: AM.

Greetings!

Today’s session definitely felt like “holiday trading mode”, light volume, low volatility, at least that was the case with stock indices.
We did have good ranges and volatility on markets such gold and crude oil and even 10 years and bonds, so my point is…there are other markets for day trading one should consider except for mini SP, mini dow etc.

As always observe, learn, try in demo first and only then add new markets to your “day-trading arsenal.”

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Final Q3 GDP q/q (prelim 2.8%), Q3 GDP Price Index (prelim 0.5%), Q3 Personal Consumption (prelim 2.9%), Q3 Core PCE q/q (prelim 1.3%)
10:00 Dec Richmond Fed Manufacturing (last 1), Nov Existing Home Sales (last 6.1M, m/m 10.1%), Oct House Price Index m/m (last 0.0%)
16:30 API Crude Oil/Gasoline/Distillate Inventories, Mexico Nov Trade Balance

Events

OPEC December Meeting in Luanda, Angola. ICSC/UBSW Chain Store Sales (7:45, last +0.4%). Redbook Retail Sales (8:55, last %). ABC Consumer Confidence (last -45). Trades Ex-dividend: SWY $0.10, RL $0.10.

Earnings

Before the Open: CMC, LNN, PRGS. After the Close: CTAS, FINL, MU, RHT, TIBX.

Greetings!

Have a great weekend and be ready for a shorter trading week coming up, as Christmas is right around the corner!

Day in and day out I see how big the mental part is….getting into trades for “revenge trading” or just because you had a loser, got stopped out and saw the market go back your way….examples are endless…

Make a New Years resolution to improve your “trading mental state of mind!”

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Nov Chicago Fed Index (last -1.08)
15:30 Mexico Oct Retail Sales

Events

Ex-dividend: SPLS $0.083, FLS $0.27, CINF $0.395.

Earnings

Before the Open: CAG, WAG. After the Close: JBL.

Greetings!

I got my short alert ( red diamond) on mini Russell yesterday and as I mentioned I wanted to see a break of 602, which we got.

Below you will see some levels to help with suggested stops and targets. ( personally I would not risk more than previous high and would look for first target at 592).

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:00 Canada Oct Wholesale Sales
TBD Colombia Rate Decision

Events

08:00 FDA Ear, Nose, and Throat Devices Panel Meeting. ITT 2010 guidance call. Trades Ex-dividend: HNZ $0.42.

Earnings

Before the Open: KMX, NEOG, STEI.

Greetings!

Stock indices had a very mute reaction to todays FOMC.

Looking at the mini Russell chart below I got one of my favorite signals: “diamond”, red diamond suggests short term top and possible reversal. Rather than try to pick tops in this case, I would resume a short term bearish stance only if we can take out 602 below.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Initial Jobless Claims (last 474K), Continuing Claims (last 5.157M), Canada Nov CPI
10:00 Nov Leading Indicators (last 0.3%), Dec Philadelphia Fed (last 16.7), Brazil rate decision
10:30 Natural Gas Inventories

Events

BoJ Rate Decision. 10:00 Senate Confirmation Vote for Fed Chairman Bernanke. BCR Analyst Day. PLL Analyst Day. Trades Ex-dividend: HES $0.10, DTE $0.53, TIF $0.17, EQR $0.338.

Earnings

Before the Open: ATU, DFS, FDX, GIS, MCS, PIR, RAD, WGO. After the Close: ACN, APSG, DRI, NKE, ORCL, PALM, ZQK, RIMM, SCS.

Greetings!

Tomorrow’s Economic Calendar

08:30 Nov CPI (last m/m 0.3%, y/y -0.2%; ex food & energy last m/m 0.2%, y/y 1.7%), Nov CPI Core Index SA (last 220.453), Nov Housing Starts (last 529K), Nov Building Permits (last 551K), Q3 Current Account Balance (last -$98.8B)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
14:15 FOMC rate decision

Busy day ahead as you can see from reports schedule above…

If you are a new trader and have not traded during FOMC before, I recommend trading until half an hour before the announcement and then just observe or switch to demo.

FOMC time can be very volatile.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Nov CPI (last m/m 0.3%, y/y -0.2%; ex food energy last m/m 0.2%, y/y 1.7%), Nov CPI Core Index SA (last 220.453), Nov Housing Starts (last 529K), Nov Building Permits (last 551K), Q3 Current Account Balance (last -$98.8B)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
14:15 FOMC rate decision

Events

08:00 Oncologic Drugs Advisory Committee Meeting. FSLR Guidance Call. DHR Investor Day. HON 2010 Guidance Announcement. MBA Mortgage Applications (7:00, last 8.5%). Trades Ex-split: NEOG 3-2, UHS 2-1. Trades Ex-dividend: CB $0.35, SCMR $1.00, TTC $0.18, UIL $0.432.

Earnings

Before the Open: JOYG. After the Close: APOG, MLHR, HOV, MATK, NDSN, PAYX.

Greetings!

Busy day tomorrow and Wednesday with a slew of economic reports tomorrow and FOMC on Wednesday.

So far the mini Russell continuous daily chart is maintaining a positive bias but I would like to see a breach of 622.10 (Basis the March contract) in order to gain more confidence in the long side. I hope we have a clearer picture by Wednesday afternoon/Thursday morning…

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

06:00 Brazil Oct Retail Sales
08:30 Nov PPI (last m/m 0.3%, y/y -1.9%, ex food energy last m/m -0.6%, y/y 0.7%), Dec Empire Manufacturing (last 23.51), Canada Oct Leading Indicators, Canada Q3 Capacity Utilization
09:00 Oct Net Long-Term TIC Flows (last $40.7B), Oct Total Net TIC Flows (last $133.5B)
09:15 Nov Industrial Production (last 0.1%), Nov Capacity Utilization (last 70.7%)
10:00 TAF results
13:00 Dec NAHB Housing Market Index (last 17)
16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

08:00 FDA Endocrinologic and Metabolic Drugs Advisory Committee Meeting. 08:00 Pediatric Oncology Subcommittee Advisory Committee Meeting. 13:30 FDA Vaccines Related Biological Products Advisory Committee Meeting. Deutsche Bank Boston Biotech Confab. Raymond James IT Supply Chain Conference. PBI Guidance Call. GNW Investor Day. ICSC/UBSW Chain Store Sales (7:45, last -1.3%). Redbook Retail Sales (8:55, last 1.2%). ABC Consumer Confidence (last -47). Trades Ex-dividend: AVF $0.481, AINV $0.28, ENH $0.25.

Earnings

Before the Open: BBY, FDS. After the Close: AIR, ADBE.