Greetings!

Last trading day of the month is ALREADY HERE…wow, that was a quick trading month…

If I had to choose only one factor that is most important for success of a day-trader, I must say it is the ability to set daily stop levels and daily profit levels, be disciplined enough to follow it and say thank you and walk away when you have a good day and vise-versa, say thanks but no thanks when you have a bad day and hit your daily stop level. I detailed more about the topic in an article I wrote few years back, “survivor day-trader” – be happy to email it if you have not read it, send an email to your current broker or contact us and we will be happy to email it to you.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:00 Chile Jan Industrial Production, Jan Unemployment, Jan Copper Production
08:30 Preliminary Q4 GDP q/q (last 5.7%), Q4 GDP Price Index (last 0.6%), Q4 Personal Consumption (last 2.0%), Q4 Core PCE q/q (last 1.4%)
09:45 Feb Chicago Purchasing Manager Index (last 61.5)
09:55 Feb Final University of Michigan Confidence (last 73.7)
10:00 Jan Existing Home Sales (last 5.45M, m/m -16.7%), Feb NAPM-Milwaukee (last 56)
11:00 Colombia Jan Unemployment

Events

Colombia Rate Decision. 10:45 Fed’s Dudley and Kocherlakota to speak at US Monetary Policy Forum. 13:30 Fed’s Tarullo, Evans to speak at US Monetary Policy Forum. SNDK Investor Day. PSEG Analyst Day. ETN Analyst Meeting. Trades Ex-dividend: GS $0.35.

Earnings

Before the Open: CAS, BIOS, CNP, DRH, FCN, ZINC, IPG, JRCC, MGLN, MCCC, MPR, MSA, MIR, NWN, POM, SUSS, TTI, TREX.

Greetings!

Back after a few days off…looks like market is enjoying a nice bounce.

Some daily levels for your review below:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

04:30 BoE Minutes
08:30 Jan Import Price Index (last m/m 0.0%, y/y 8.6%), Jan Housing Starts (last 557K), Jan Building Permits (last 653K), Canada Dec Wholesale Sales
09:15 Jan Industrial Production (last 0.6%), Jan Capacity Utilization (last 72%)
14:00 FOMC minutes; Jan Monthly Budget Statement (last -$63.5B)
16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

BoJ Rate Decision. 12:45 Fed’s Plosser speaks on the financial crisis. Barclays Capital Industrial Select Conference. MBA Mortgage Applications (7:00, last -1.2%). Trades Ex-dividend: CCL $0.10, CMI $0.175, MMM $0.525, PCL $0.42, PBI $0.365, PPG $0.54, TGT $0.17.

Earnings

Before the Open: AUXL, BW, XEC, DE, DVN, DTG, ENZN, EEFT, FELE, FNDT, GENZ, HGRD, HL, HST, IAG, ITRN, KOP, MSO, NEWS, NICE, OMX, OC, PFCB, ROC, SBGI, SSYS, VSI, WSO. After the Close: AEA, AAP, AEM, ADI, AMAT, CAR, BEAT, CECO, CRA, CHK, CLF, CYH, CYBX, DENN, DYP, ENH, FRT, GUID, HPQ, IPHS, IRBT, ITRI, KEG, KGC, KRG, LVS, LOGM, NHP, NCIT, NTAP, NHWK, NVDA, OII, ODSY, ORLY, OFIX, PEET, PTP, PCLN, STR, SKX, SNPS, TEX, TRMA, TRN, UNTD, VTAL.

Greetings!

Our weekly newsletter and a good article worth reading at http://www.cannontrading.com/tools-weekly-newsletter.php.

I will be out of the office Thursday and Friday, returning to work Tuesday (Monday is president’s day), so the next trading levels email will be sent Tuesday afternoon.

Wishing all of you great trading!

Futures Trading Levels

Economic Calendar for Thursday

Economic

08:30 Jan Advance Retail Sales (last -0.3%, ex auto -0.2%), Initial Jobless Claims (last 480K), Continuing Claims (last 4.602M), Canada Dec Housing Price Index
10:00 Dec Business Inventories (last 0.4%), Mexico Dec Industrial Production
10:30 Natural Gas Inventories
13:00 US Treasury’s $16B 30-yr bond auction
16:00 Chile rate decision

Events

Trades Ex-dividend: AFL $0.28, CNP $0.195, EXC $0.525, MUR $0.25, ROK $0.29.

Earnings

Before the Open: ASF, AKNS, ALU, ARE, ALXN, AN, BWA, CATM, CBB, ECL, EMS, ECA, NPO, EXPE, FLIR, GEO, GLT, GPI, HEP, HOS, IPCC, IRC, JASO, JRN, LH, LF, LUFK, MAC, CLI, MAR, OZM, PMTI, PTEN, PEP, PM, PGN, PLD, SCG, SKYW, STRA, ELOS, TKLC, TDC, THS, VFC, VIA.B, WWE. After the Close: ACL, AB, AWH, BEC, BJRI, NILE, BWLD, CEPH, CAKE, CMG, CHH, CGNX, CSTR, CML, DCT, DFG, EHTH, ENOC, EPIC, FFG, BGC, HE, MFE, MOH, NRP, PNRA, PNSN, PRAA, PRO, QDEL, RNWK, RSG, ROVI, SNWL, SONO, STMP, SMMX, SVR, USTR, ZGEN.

Economic Calendar for Friday

Economic

09:55 Feb prelim Univ of Michigan confidence (last 74.4)
14:00 Argentina Jan CPI, Wholesale Price Index

Events

Trades Ex-dividend: CVX $0.68, MRO $0.24, SLB $0.21.

Earnings

Before the Open: ALE, HCP, IR, PAS, UPL. After the Close: DUK.
*Note all time are EST (GMT-5).

Earnings

Before the Open: ABD, MT, CAE, CCE, CSC, DF, DISCA, ELN, FORR, ICE, JNY, ID, LNCE, LVLT, LPX, MMC, MXGL, MTOX, NYT, SNI, SIAL, SON, S, TLM, TGH, TDG, WXS, WYN. After the Close: ATVI, ALL, AMKR, ATR, ARRS, BMR, BSX, STV, SCOR, CPA, CLB, CPII, DVA, PROJ, XRAY, EGP, ELON, EDMC, EQIX, RE, GLUU, GSIC, HGR, HIW, NSIT, KONA, LPSN, LFT, LOOP, MAS, OSUR, PRE, PVA, PAA, PL, PRU, O, SWIR, TLEO, TMK, WATG.

Greetings!

Strong volatility intraday with swings both ways. We are still not able to close above 1069 which is the pivot level in my eyes.

Below you will see a screen shot from my daily webinar, where clients and prospects can view my approach, indicators and philosophy for day-trading.

To sign up, visit http://www.cannontrading.com/education-day-trading-webinar.php.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

08:30 Dec Trade Balance (last -$36.4B)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 US Treasury’s $25B 10-yr note auction
14:00 Jan Monthly Budget Statement (last -$63.5B)

Events

10:00 Fed Chairman Bernake to testify before House Financial Services Committee. 09:30 Fed’s Tarullo testifies before Senate Panel on systemic risk. 12:45 Fed’s Plosser speaks on the financial crisis. 08:00 FDA Oncologic Drugs Advisory Committee Meeting. Cowen Group. Aerospace/Defense Conference. MBA Mortgage Applications (7:00, last -2.8%). Trades Ex-dividend: AMP $0.17, COST $0.18, DD $0.41, DUK $0.24, FAST $0.40, WEC $0.40.

Earnings

Before the Open: ABD, MT, CAE, CCE, CSC, DF, DISCA, ELN, FORR, ICE, JNY, ID, LNCE, LVLT, LPX, MMC, MXGL, MTOX, NYT, SNI, SIAL, SON, S, TLM, TGH, TDG, WXS, WYN. After the Close: ATVI, ALL, AMKR, ATR, ARRS, BMR, BSX, STV, SCOR, CPA, CLB, CPII, DVA, PROJ, XRAY, EGP, ELON, EDMC, EQIX, RE, GLUU, GSIC, HGR, HIW, NSIT, KONA, LPSN, LFT, LOOP, MAS, OSUR, PRE, PVA, PAA, PL, PRU, O, SWIR, TLEO, TMK, WATG.

Greetings!

Started the week with relatively quiet day and neutral to bearish market action.

I think that if we don’t get above 1069 soon, the selling pressure will resume.

Daily chart with levels to watch below:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

10:00 Dec Wholesale Inventories (last 1.5%), Mexico Jan Consumer Prices
13:00 US Treasury’s $40B 3-yr note auction
16:30 API Crude Oil/Gasoline/Distillate Inventories

Events

TXT Analyst Day. ICSC/UBSW Chain Store Sales (7:45, last +0.1%). Redbook Retail Sales (8:55, last +0.8%). ABC Consumer Confidence (last -49). Trades Ex-dividend: ETR $0.75, HCP $0.465, TJX $0.12.

Earnings

Before the Open: ACM, AGCO, AGU, AHCI, ALLT, ANR, ACLI, ATRO, BIIB, BJS, CAM, CE, CNC, CHD, KO, CTSH, CVH, CYNO, ENER, IT, GET, IACI, IFF, KVHI, LCAV, MLM, TAP, NOOF, NYX, PCH, PHM, RTIX, RBCN, TIN, GTS, VSH, WMG, ZBRA. After the Close: ATAC, AGAM, AFG, ASEI, AHL, BIDU, CFN, CERN, EXBD, CXW, DIOD, DNEX, DSCM, EOG, GIL, GCOM, HNI, PODD, KFRC, LTRE, LGF, NTGR, OPEN, RNR, RUSHA, SB, TCO, UDR, ULTI, USNA, DIS, WWWW, XL.

Greetings!

Wow…what a trading session. The bounce from the lows stopped right at a FIB level as can be seen in chart below:

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

06:00 Chile Jan CPI
06:30 Chile Jan Trade Balance
08:30 Canada Jan Housing Starts

Events

Bank of America India Investor Conference. Deutsche Bank Small and Mid Cap Conference. Thomas Weisel Technology & Telecom Conference. UBS Global Healthcare Services Conference. Biotechnology Industry CEO and Investor Conference. Ex-dividend: AEP $0.41, CTAS $0.48, IBM, $0.55, XLNX $0.16, XOM $0.42.

Earnings

Before the Open: AMRI, AGNC, BWP, CGA, CHDX, CNA, CVS, GWR, HAS, HS, LFUS, L, LO, MCY, NDAQ, NVE, SIRO, VTNC. After the Close: ADCT, ANDE, ATML, AXS, BWY, CPT, CRL, CMP, CCRT, CRK, CUZ, CUTR, ERTS, ECPG, ESLR, FWRD, HAR, HIG, HIMX, HMN, LNCR, LNC, NUAN, OTTR, OMI, PKY, PIKE, PPS, PPDI, PFG, QGEN, RENT, SKH, SWI, SRX, TMRK, TWTC, VECO, VMC, WRB, WCN, ZOLT.

Greetings!

Jan Nonfarm Payrolls (last -85K), Jan Unemployment Rate (last 10.0%), Jan Manufacturing Payrolls will come out before the cash open tomorrow. Next support at 1051 based on March SP500; first resistance at 1069.75.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

06:00 Brazil Jan Inflation
06:30 Chile Dec Economic Activity
07:00 Jan Canada Net Employment Change, Unemployment Rate
08:30 Jan Nonfarm Payrolls (last -85K), Jan Unemployment Rate (last 10.0%), Jan Manufacturing Payrolls (last -27K), Jan Average Hourly Earnings (last m/m 0.2%, y/y 2.2%)
15:00 Dec Consumer Credit (last -$17.5B)
16:00 Colombia Jan PPI

Events

12:00 Treasury Sec Geithner to attend G7 meeting. 17:15 Fed’s Bullard to speak in St. Louis. Trades Ex-dividend: PLL $0.16, ISIL $0.12, KMT $0.12.

Earnings

Before the Open: AET, AYE, AXL, AIV, BZH, BPO, BRKS, SUR, LRN, KELYA, MAG, MD, NNN, PPL, PBH, SXT, SPG, SEP, TE, TSN, VVI, WY, YRCW

Greetings!

Some interesting, volatile trading action today. Day traders who observed our daily webinar saw some good trade setups in live mode like the chart shown below (red arrows = suggested sell, blue arrows = suggested buy). If you have not tried the webinar before, feel free to sign up for a 2 week free trial.

Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:00 BoE Rate Decision
07:45 ECB Rate Decision
08:30 Preliminary Q4 Nonfarm Productivity (last 8.1%), Q4 Unit Labor Costs (last -2.5%), Initial Jobless Claims (last 470K), Continuing Claims (last 4.602M)
10:00 Dec Factory Orders (last 1.1%), Canada Jan Ivey PMI, Mexico Jan Consumer Confidence
10:30 Natural Gas Inventories
16:00 Colombia Jan PPI

Events

Same store sales before the open. Trades Ex-dividend: ETN $0.50, NBL $0.18, GWW $0.46, HCN $0.68.

Earnings

Before the Open: ABMD, AGN, LNT, ATK, ARJ, STST, AVP, BCE, BDC, BLC, BHE, BCRX, BG, BKC, CRR, CI, CINF, CLX, CME, CNMD, DTPI, DO, UFS, ELNK, ENTG, FLO, HGG, HI, HSP, IVC, K, KNL, KLIC, LII, LZ, MA, MTRX, MMS, MDCI, MF, MSTR, MEND, MKSI, MGI, MCO, MWIV, NCR, NOC, NUS, CHUX, PENN, PAS, POL, POWI, QUIX, RAI, RSTI, RDS.A, RGLD, RTI, SBH, SLE, SNA, SNE, SE, SPR, HOT, SPH, TEN, TBL, UTEK, WBC. After the Close: ARAY, ACTL, ABCO, BMI, BEZ, BEBE, BBND, BFRM, BLKB, COGO, CNW, DNEX, DNB, EW, ESE, ESS, XIDE, FALC, FIS, FMC, HLIT, HA, ILMN, IN, LQDT, LMNX, MTD, MCHP, MCRS, MAA, MTX, MPWR, MTSC, MFLX, NFG, N, EGOV, OPWV, OPXT, PCCC, PKI, PMC, PFWD, PTEC, PBI, PWAV, RMD, SFLY, SIMG, SLH, SRCL, SFSF, SUN, SNCR, TWLL, TSYS, TTMI, VRTX.

Greetings!

Today we are featuring a booklet by Ilan-Levy Mayer, 8 Steps to Successful Futures Day Trading.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

07:30 Jan Challenger Job Cuts y/y (last -72.9%)
08:15 Jan ADP Employment Change (last -84K)
09:00 Treasury’s quarterly funding announcement
10:00 Jan ISM Non-Manufacturing (last 50.1)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 Mexico Jan Manufacturing Index, Non-Manufacturing Index

Events

13:00 Fed’s Warsh to speak in New York. Same store sales after the close. MBA Mortgage Applications (07:00, last -10.9%).European Commission decision on Greek stability and and development program. Trades Ex-dividend: MWV $0.23, FE $0.55, INTC $0.158, NSC $0.34.

Earnings

Before the Open: ALVR, ASCA, ARW, ATMI, AUDC, BECN, BDK, BCO, CSL, CMCSA, CVLT, DBD, ENB, HW, HNT, IP, ITG, ITT, LAZ, MHO, MMP, MKTX, NOV, NSTC, OIIM, PFE, RL, POWL, RVSN, ROP, R, SVVS, SLAB, TMO, TWX, TZOO, UMC, WU, WWW. After the Close: NDN, AATI, AFFX, AKAM, AMP, AIZ, ATW, AVB, BBBB, CELL, BRS, BRCM, CDNS, CBG, CBL, CSCO, CNQR, CVTI, DLB, DBTK, DCP, ENTR, EFX, EQR, FEIC, FNF, FBN, GHDX, HSTX, HRC, HMN, IEX, INSP, KIM, MEAS, WFR, MWW, NBIX, NEWP, NVLS, ONNN, OTEX, OPNT, PSEM, RBC, REG, RNOW, SGMO, SIGI, SSTI, SPTN, SFN, SPF, STLY, STLD, SYMM, THQI, TGI, TBI, URI, UFPI, VIRL, V, WLT, WGL, WSH, YUM.

Greetings!

The Russell 2000 has been a good “leading indicator” for the rest of stock indices.

From a technical point of view, the bounce we saw today is still a correction for the recent sell off. In order for that to change I will need to see a close above 613 on an hourly basis, until then I think the trend is still lower and rallies need to “prove themselves” before I change my outlook.

Good Trading!

Futures Trading Levels

Economic Calendar

Economic

06:00 Brazil Dec Industrial Production
10:00 Dec Pending Home Sales (last m/m -16%, y/y 19.3%)
4:30pm API Crude Oil/Gasoline/Distillate Inventories

Events

Vehicle sales. ICSC/UBSW Chain Store Sales (07:45, last -2.5%). Redbook Retail Sales (08:55, last +1.0%). ABC Consumer Confidence (last -48).

Earnings

Before the Open: AMSC, AMB, AXE, ADM, ARTG, ARM, ADP, BEAV, BP, COCO, CPO, DHX, DOW, DHI, EMR, ETR, EVR, HHS, HSY, NRGY, KFT, LDR, LXK, MAN, MRO, HZO, MPEL, PTRY, PCX, PNR, PBG, PRGO, RDWR, RRST, SMG, STEL, STE, SU, TNB, TDW, TKR, UTI, UPS, WHR, WEC. After the Close: ACE, APKT, ACTU, AFL, ADS, AJG, ATO, BRE, CHRW, CTRP, FISV, SOLR, IVAC, IRF, JKHY, JDSU, JLL, KNXA, LCRD, MANH, MTW, MEE, MET, MIL, MYGN, NLC, NETL, NWSA, PXD, QSFT, RSYS, RVBD, SLGN, SSD, TSO, TRMB, UNM, VASC, VRSN, WBSN.