See on the daily bar chart for the December e-mini S&P futures that prices last week hit a record high, but late this week saw a steep sell off.
In This Issue
1. Bearish Technical Warning Signal for E-Mini S&P Futures
2. Day Trading Indicators and Algorithm Free Trial
3. Economic Calendar
From our friend Jim Wyckoff
Jim has an excellent daily newsletter where he reviews different markets, alerts you for potential trades and much more. Included is his great bi-weekly newsletter with charts and a little longer term outlook. We recommend checking out his website, educational CDROM, and services at www.jimwyckoff.com click on image below to enlarge
See on the daily bar chart for the December e-mini S&P futures that prices last week hit a record high, but late this week saw a steep sell off. This price action has formed a rear and potentially bearish broadening pattern on the daily chart. We are right in the middle of the historically stock-market-turbulent turbulent months of September and October. This chart pattern only give the stock index bulls more anxiety.
Below is a screen shot of the Mini Sp 500 and mini Russell 2000 charts from Aug 23rd 2013
The charts are sierra charts and the signals that appear are based on proprietary indicators developed by Ilan Levy-Mayer of LEVEX Capital Mgmt Inc. and VP of Cannon Trading Co, Inc.
The concept is a simple concept that looks for exhaustion in either buying/ selling and reversal. The signals that appear on the charts are alerting you for potential buy or sell IF/ONCE price confirmation occurred (crossing of the hull moving average). Full explanation along with chart samples included in the 23 page PDF booklets that comes with the free trial.
Would you like to have access to the DIAMOND and TOPAZ and 5T ALGOs as shown above and be able to apply for any market and any time frame on your own PC ? You can now have a three weeks free trial where the ALGO is enabled along with few studies for your own sierra/ ATcharts. The trial comes with a 23 page PDF booklet which explains the concepts, risks and methodology in more details.
TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS. THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Source: Moore Research Center, Inc.
Date | Reports | Expiration & Notice Dates |
09/29 Mon |
7:30 AM CDT - PCE Prices-Core(Aug) 7:30 AM CDT - Personal Income & Spending(Aug) 9:00 AM CDT - Pending Home Sales(Aug) |
FN: Oct Natural Gas(NYM) |
09/30 Tues |
8:00 AN CDT - Case-Shiller 20-City Index(Jul) 8:45 AM CDT - Chicago PMI(Sep) 9:00 AM CDT - Consumer Confidence(Sep) 11:00 AM CDT - Grain Stocks 11:00 AM CDT - Small Grains Summary |
FN: Oct Copper(CMX) Oct Gold & Silver(CMX) Oct Platinum & Palladium(NYM) Oct Soymeal & Soyoil(CBT) LT: Sep 2,5 Year Notes(CBT) Sep Fed Funds(CME) Sep Butter(CME) Sep Milk(CME) Oct RBOB & ULSD(NYM) Oct Sugar-11(ICE) Sep Fed Funds Options(CME) Sep Butter Options(CME) Sep Milk Options(CME) Sep Lumber Options(CME) |
10/01 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 7:15 AM CDT - ADP Employment Change(Sep) 9:00 AM CDT - Construction Spending(Aug) 9:00 AM CDT - ISM Index(Sep) 9:30 AM CDT - API & DOE Energy Stats 1:00 PM CDT - Auto & Truck Sales(Sep) 3:00 PM CDT - Dairy Products Sales |
FN: Oct Sugar-11(ICE) |
10/02 Thurs |
6:30 AM CDT - Challenger Job Cuts(Sep) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Factory Orders(Aug) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Oct RBOB & ULSD(NYM) |
10/03 Fri |
7:30 AM CDT - Ave Workweek & Hourly Earnings(Sep) 7:30 AM CDT - Nonfarm Payrolls(Sep) 7:30 AM CDT - Trade Balance(Aug) 7:30 AM CDT - Unemployment Rate(Sep) 9:00 AM CDT - ISM Services(Sep) |
LT: Oct Canadian Dollar Options(CME) Oct Currencies Options(CME) Oct Live Cattle Options(CME) Oct US Dollar Index Options(ICE) Nov Cocoa Options(ICE) ) |
10/06 Mon |
FN: Oct Live Cattle(CME) |
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!