January 24, 2014 - Issue #721
In This Issue
1. Using Tick/Volume charts and Oscillators for day trading
2. Hot Market Review - Nymex Crude oil Bulls Gain Upside Technical Momentum
3. Economic Calendar
1. Using tick/Volume charts and Oscillators for day trading
Using tick charts and oscillators for day-trading (by Ilan Levy-Mayer VP of Cannon Trading and CTA at Levex.net )
I really don't think anyone has found a "perfect way" to day-trade.
Different techniques work well in different market environment.
In this week short educational feature, I will touch about one technique one can add to their trading arsenal. This technique works better on choppy, two sided ways. It DOES NOT work well when the market has a strong trend.
The chart below illustrates a few principals I like:
- It uses a tick chart rather than a time chart. I like tick charts better when day-trading shorter time frames for the simple reason it already includes a big factor in the market, VOLUME. If you are using 5 minutes chart for example, you may get signals simply because time "has passed" and certain indicators you are using adopt certain values. When using tick charts, at times where there is lots of movement in the market, you won't have to wait until your time frame bar closes to get your signal, volume becomes a bigger more important part of your trading decision. To read the remaing article, please fill out the simple form below.
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2. Nymex Crude oil Bulls Gain Upside Technical Momentum
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
The Nymex crude oil futures bulls have gained good upside near-term technical momentum recently, to strongly suggest a major low is now in place and that prices can work sideways to higher in the near term. This is also good news for the raw commodity sector bulls, as crude oil is the leader of the sector.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 01/27 Mon |
9:00 AM CST - New Home Sales(Dec) Y |
|
| 01/28 Tues |
7:30 AM CST - Durable Orders(Dec) 7:30 AM CST - Durable Orders Ex-Transportation(Dec) 8:00 AM CST - Case Shiller 20-City Index(Nov) 9:00 AM CST - Consumer Confidence(Jan) FOMC Meeting |
LT: Feb Copper Options(CMX) Feb Gold Options(CMX) Feb Silver Options(CMX) Feb Natural Gas Options(NYM) Feb RBOB & ULSD Options(NYM) |
| 01/29 Wed |
6:00 AM CST - MBA Mortgage Index 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - FOMC Rate Decision(Jan) 3:00 PM CST - Dairy Products Sales |
LT: Jan Copper(CMX) Jan Gold(CMX) Jan Silver(CMX) Jan Platinum(NYM) Jan Palladium(NYM) Feb Natural Gas(NYM) |
| 01/30 Thurs |
7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - GDP-Adv(Q4) 7:30 AM CST - GDP Deflator-Adv(Q4) 9:00 AM CST - Pending Home Sales(Dec) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
FN: Feb Natural Gas(NYM) LT: Jan Feeder Cattle(CME) Jan Feeder Cattle Options(CME) |
| 01/31 Fri |
7:30 AM CST - Personal Income & Spending(Dec) 7:30 AM CST - PCE Prices-Core(Dec) 7:30 AM CST - Employment Cost Index(Q4) 8:45 AM CST - Chicago PMI(Jan) 8:55 AM CST - Michigan Sentiment-Final(Jan) |
LT: Feb 2,5,10 Year Notes Options(CBT) Feb Bonds Options(CBT) Feb Wheat Options(CBT) Feb Corn Options(CBT) Feb Oats Options(CBT) Feb Rough Rice Options(CBT) Feb Soybeans Options(CBT) Feb Soymeal Options(CBT) Feb Soyoil Options(CBT) |
| 02/03 Mon |
9:00 AM CST - Factory Orders(Dec) ) |
* 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!
