Weekly Newsletters, Futures Trading Tips & Insight, Commodity Trading Educational Resources & Much More.
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Weekly Levels
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
By Mark O’Brien, Senior broker
General
Count ‘em: nine in a row. That’s how many meetings the Federal Reserve has increased its key interest rate. As of today’s .25-point increase, the federal funds rate target range stands at 4.75%-5.00%, the highest level since September 2007. The vote by all 11 members of the Federal Open Market Committee was unanimous. Clearly, the bank runs that toppled Silicon Vally Bank and roiled the banking industry have been front and center in the financial world the last two weeks, but the situation fazed Fed officials little if at all. “The U.S. banking system is sound and resilient,” said the prepared policy statement released at 1:00 P.M., Central Time today. Fighting inflation, it seems, remains the Central Bank’s focus.
Metals
On Monday, gold futures (basis April) pierced through $2,000 per ounce intraday for the first time in a year as the U.S. banking crisis spread to Europe with Credit Suisse, a preeminent name in global investment banking, sought help from Switzerland’s central bank and then put itself up for sale. This marked a ±$18,000 per 100-oz. futures contract move in just eight trading sessions from March 9.
Grains
Wheat continued its ±8-month slide from its multi-year spike high above $13/bushel on the heels of Russia’s invasion of Ukraine to lows not seen since July ’21 as traders see improvement in U.S. winter wheat crop conditions and a lack of significant weather issues across key northern hemisphere wheat producers. The front month May contract closed today at it’s life-of-contract low of $6.22 ¾ per bushel.
Energy
Crude oil continued its almost 9-month decline in prices from over $120 per barrel last June to trade below $65 per barrel (basis May) on Monday, including a ±$15 / $15,000 per contract fall from March 7, scarcely two weeks.
Natural gas basis its May futures contract tested 32-month lows yesterday, threatening to punch through $2.00 per million British thermal units (MMBtu). With the North American winter heating season approaching its end, residential, commercial, and industrial gas demand has been on the decline.
Plan your trade and trade your plan.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
for 03-23-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
Join our private Facebook group for additional insight into trading and the futures markets!
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Weekly Levels
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
By Mark O’Brien, Senior Broker
General:
While yesterday’s U.S. Consumer Price Index showed inflation continues to slow from its readings in 2022, CPI readings, the pace of declined slowed and a wide array prices stayed elevated, including food, clothes (women’s apparel dropped slightly), rent and hotel rooms. Once again, a key economic report has shown that the road back to 2.0% inflation, on which the Federal Reserve is committed to following, is going to be lengthy and rugged. It certainly leaves Fed in a hawkish posture.
Be alert: the release of the Bureau of Labor Statistics’ Producer Price Index is on deck for tomorrow. The report comes out at 7:30 A.M., Central Time.
Markets:
Metals:
Gold (April) has declined ±$130 (a ±$13,000 move) since its Feb. 1 intraday high of $1,970.80 / oz. Today’s $1839.30 intraday low sets it back to prices not seen since the first of the for the calendar year.
Corn:
For most of the last few months, U.S. corn prices have justifiably focused on crop conditions, including obviously yield and quality, in Argentina and Brazil, which have continually come in far from ideal. As a result, the markets have priced in current and further crop damage coming into the South America harvest. That’s about to shift with the start of the crop year here in the U.S. Forecasts for planted acreage, demand, ending stocks, stocks/usage ratio – all tracked by the USDA and sized up by traders – are about to take center stage. As crops from the southern hemisphere are “made,” if little or no further surprises hit, look for CBOT corn prices to settle in for news of this year’s U.S. crop, starting with Prospective Plantings late next month.
Despite the uneven decline of crude oil prices over the last 8 months from their ±$105 per barrel highs of last June (basis March) down to a few recent forays to the low 70’s per barrel, crude oil looks to still be focused on growing Chinese demand. As we approach the traditional U.S. driving season in May, look for recent lows as meaningful signs of support.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
02-14-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
Grains / Soy complex: For Soybeans and corn interests, many eyes are on South America, where because their crop year runs counter to here in the U.S., large producers like Argentina and Brazil are approaching harvest. Brazil is set for a bumper soybean crop. Argentina is experiencing drought conditions which are more adversely affecting their corn crop than their soybeans. Traders believe the soybean crop can recover more significantly from the heat and drought as compared with the corn crop.
Gold & Silver: precious metals analysts often look to ETF holdings for guidance on gold and silver futures prices, eyeing inflows and outflows for developing patterns. To wit, both gold and silver ETF holdings are sitting above their levels at the start of the year
Energy: Crude oil traded to a 4-day low this A.M. The likely catalyst could be Chinese energy demand, which seems to be linked to COVID infection rates in that country, whish show little signs of peaking yet. Support at $80.00 per barrel (March contract) looks vulnerable unless we see some confirmation of improving conditions inside China.
Plan your trade and trade your Plan
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
for 01-26-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
General: Even in the face of solid COVID uncertainty for China, a persistent fear that the Fed will overtighten and that a recession is looming here in the U.S., there are some green shoots (thank you to former U.K. Chancellor of the Exchequer Norman Lamont for coining that term back in ‘91) to indicate signs of improvement for the economy, including growing sentiment that the beginning of the end for rising interest rates – and inflation – is on the horizon.
Take commodity prices for example.
Several that are in tight supply are now responding by tracking higher as a result of modest improvements in demand for their manufactured products. Copper prices – historically viewed as a leading indicator – are up over 30% in the last six months, including a ±14% increase this month so far. Silver is up ±25% since Sept. to year-ago prices around $24/oz. Crude oil has pressed upwards above ±$80/barrel, ±$10 higher this month and on par with prices from last Feb.
At the same time, these higher prices for industrial products have helped keep inflation readings – CPI, PPI notably – stubbornly high with only slight signs of downward movement in the last few releases. This is almost certainly narrowing the runway on which the “Fed Pivot” will eventually use to try landing the economy as softly as possible this year.
Energies: Heads up! As opposed to most weeks when they’re released on Wednesday and Thursday, this week’s Energy Information Agency reports on natural gas storage and crude oil supplies will be released on the same day: tomorrow at 9:30 A.M. and 10:00 A.M., Central Time, respectively. That’s natural gas storage first, followed by crude oil supplies. The Martin Luther King Day holiday effected this schedule change.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
for 01-19-2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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 here in 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 judgement in trading.
By Mark O’Brien, Senior Broker
Energy:
After starting the year near $72 per barrel, by June, West Texas crude oil (Jan. ’23 futures contract) climbed to its highs above $108 per barrel. Today, Jan. crude oil traded to an intraday low of $71.75, a ±$36 per barrel (±$36,000) leap and fall.
Not to be out don’t, after breaching $10.00 per million British thermal units in early August, natural gas traded below $5.34 intraday yesterday, a whopping ±46% cut in the asset’s value and a ±$46,000 move for a single futures contract (Jan. ’23 futures contract).
Metals:
Albeit experiencing a slight correction this week so far, gold (Feb. ’23 futures contract) managed to hold nearly all of its ±$170 rally through $1,800 per ounce off its multi-year lows of early November near $1,635 per ounce – a ±$17,000 move in one month.
Announcements:
Keep an eye on the calendar for important U.S. government reports this Friday, starting with the Labor Department’s release of its Producer Price Index showing the cost of wholesale goods and services. The reading reflects what companies pay for supplies such as grains, fuel, metals, lumber, packaging and so forth. This is a key inflation gauge in the midst of four-decade high wholesale prices. Release time: 7:30 A.M., Central Time.
Also on Friday, the USDA will release its Crop Production Report along with its World Supply/Demand report (likely the more critical). It’s delivered at 11:00 A.M., Central Time.
A Cannon broker will be able to assist, provide feedback and answer any questions.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
for 12-08-2022
SP500 #ES_FNasdaq100 #NQ_FDow Jones #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Feb. Gold #GC_F March Silver #SI_F Jan. Crude Oil #CL-F March Bonds #ZB_F March 10 yr #ZN_F March Corn #ZC_F March Wheat #ZW_F March Beans #ZS_F March SoyMeal #ZM_F Jan. Nat Gas #NG_F March Coffee #KC_F March Cocoa #CC_F March Sugar #SB_F March Cotton #CT_F March Euro Currency
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 here in 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 judgement in trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
08-17-2022
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 here in 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 judgement in trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
08-08-2022
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
08-01-2022
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
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
07-27-2022
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
07-25-2022
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
by Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
07-14-2022
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 here in 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 judgement in trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
07-12-2022
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 here in 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 judgement in trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
06-29-2022
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
06-13-2022
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
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
04-05-2022
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
03-14-2022
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
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
03-10-2022
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 here in 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 judgement in trading.
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
03-08-2022
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
01.10.2022
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 here in 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 judgement in trading
Dear Futures Trader,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
11-18-2021
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
10-29-2020
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
10-13-2020
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
10-06-2021
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 here in 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 judgement in trading as well as options on futures.
Dear Traders,
10-05-2021
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 here in 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 judgement in trading as well as options on futures.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
9-30-2021
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 here in 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 judgement in trading as well as options on futures.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
09-27-2021
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 here in 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 judgement in trading
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
09-20-2021
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 here in 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 judgement in trading
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
9-09-2021
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 here in 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 judgement in trading as well as options on futures.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
9-01-2021
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 here in 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 judgement in trading as well as options on futures.
Dear Traders,
7-20-2021
GOOD TRADING!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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 here in 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 judgement in trading.
Dear Traders,
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7-19-2021
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GOOD TRADING!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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 here in 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 judgement in trading.
Dear Traders,
7-16-2021
GOOD TRADING!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
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 here in 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 judgement in trading.
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
3-22-2021
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
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
2-01-2021
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 tradin
Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
1-25-2021
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 tradin
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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
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Dear Traders,
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.
1-06-2021
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 here in 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 judgement in trading.
Crude oil futures experienced one of the strongest sell offs to finish 2018. The market sold from the mid 70’s into the mid 40’s in a matter of 7 weeks.
See daily chart below:
There were many reasons for the sell off. US China trade talks or lack off, OPEC production, US $ strength and much more but all this is old news at this point and the main focus of futures traders going forward is ”what next?” Before I try to answer that, lets take a look at some key factors that are general in nature to futures trading and crude oil futures trading:
Crude Oil is part of the energy sector along with “it’s” brothers “RBOB – Unleaded gas” and heating oil and cousin, natural gas. All traded on the NYMEX/GLOBEX exchange.
Crude Oil Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $3410 initial, $3100 Maint. ( as of the date of this newsletter)
Point Value: full point = $1000 ( Example: 71.80 to 72.80 ). Min fluctuation is 0.1 = $10 ( Example: 71.80 to 71.81)
Settlement: Physical, deliverable commodity
Months: Monthly cycle, All Months
Weekly Options: YES
Crude Oil is one of my favorite markets for Day Trading because of the intraday volatility and movements. Be careful, these factors can work against you or in your favor.
Some of the basic fundamentals to keep in mind when you are considering a trade in the crude oil as well as other energies
Keep in mind that the GLOBEX/NYMEX also offers the mini Crude oil contract which is half the size and may be a good alternative for smaller/ begginer traders.
MINI Crude Oil Futures Specs
Hours: 5:00 PM to 4:00 PM next day PM Central Time
Margins: $1705 initial, $1550 Maint. ( as of the date of this newsletter)
Point Value: full point = $500 ( Example: 62.80 to 63.80 ). Min fluctuation is 0.25 = $12.5 ( Example: 61.80 to 61.825)
Settlement: Cash Settled commodity one day prior to the Big Contract
Months: Monthly cycle, All Months
So just like when you are trading any commodity or futures contract, one has to ask themselves the following questions in my opinion:
If your goal is to scalp and day trade crude oil futures, then take a look at what I consider a timeless piece I wrote a few years back on how to utilize fear and greed to day-trade crude oil futures.
This article has some chart examples and specific trading set ups using crude oil futures trading: Crude Oil Day Trading
Now back to the “million dollar question” – What is next for Crude Oil Futures in the next few weeks?
In order to answer that I will look at the daily chart above and then take a look at the weekly chart below:
Based on the fact that we had a major sell off that stopped on support levels, the fact that we are bouncing since then and the opinion I hold that crude oil longer term pressure is still down, my current view for this market is that we will see expanded range bound trading. I am looking for the market to trade between $48 and $59 ( hence the word expanded) over the next few weeks and perhaps more BEFORE it may attempt to take another stab at the down side.
“Well, what good is that you may say to yourself…..” If I am right and you are willing to speculate with risk capital, then this information can be valuable.
My preferred method would be to try and sell call options spread ( vertical call spreads) when the market rallies and sell vertical put spreads when the market sells off. Selling options is a risky strategy!! It is not for new commers and you can learn much more here.
The main theory behind selling the calls and the puts is to take advantage of the time decay of options.
As many of us know, geo political events affect the markets in general and crude oil futures in specific. No one can tell what news, wars, events will take place and that is obviously the unknown factor.
I tell my clients many times on different occasions that entering a trade is only the first part of the equation, the main and even more important part is: how to manage the trade? Where do I exit if I am correct? Where should I exit if I am wrong? Should I use multiple contracts? How much am I willing to risk on the trade?
Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gains – this one is not different. If you need help creating a trading plan, visit our broker assist services.
Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
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Dear Traders,
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Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
 Cannon Trading’s eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
The futures industry is complex and risky, which is why you need someone to be forthright with you….
Futures Forthright eBook – FREE INSTANT DOWNLOAD Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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Futures Trading Levels
08.17.2018
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Futures Trading Levels For Aug. 17th
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Economic Reports, source:
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Economic Reports, source
https://app.bettertrader.com
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 here in 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 judgement in trading.
Tips for day trading NYMEX crude oil futures
By Ilan Levy-Mayer, VP Cannon Trading Co, Inc.
When it comes to day trading futures contracts, crude oil futures are assumed one of the leading positions as far as trading volume.
During the month of May 2018, crude oil futures averaged around 1 Million contracts traded per day! That actually surpasses contracts like the ten-year notes, mini SP, mini Nasdaq and others who have traditionally been leaders’ in terms of volume.
Part of the growth in crude oil futures is attributed to day trader participation. Day traders, by definition, will enter and exit their positions during the same trading day. This adds volume to the market traded.
Some of the tips I am sharing below can be applied to most futures contracts as well as other financial products that are traded like stocks, forex, bonds and others. Some of the advice I am sharing is very specific to the crude oil futures trading field.
For example: A move from 72.10 to 73.10 = $1,000 and a move from 72.10 to 72.11 = $10 (the minimum fluctuation size or the tick size). Be aware that the CME also offers the mini crude contract, which is half the size.
Another key aspect to remember is that crude oil is a deliverable commodity and the “front month” will change every 30 days or so. For example: since May 22nd 2018 we have been trading July crude oil.
However, there are two major reports that move crude oil futures and its by-products (unleaded gasoline and heating oil) sharply: The API report, which comes out at 3:30 PM CST every Tuesday, and the DOE (Dept. of Energy) inventory numbers, which come out almost every Wednesday at 9:30AM CST.
Take a look at this one-minute chart from Wednesday, May 16th right around the report time below to understand the volatility involved.
As you can see above, the market made a move of $700 per ONE contract in a matter of minutes, perhaps even seconds! That type of risk and opportunity is one of the factors attracting day-traders into the crude oil market.
In my opinion crude oil (like many other markets) will have one of the following 3 modes: trending, two-sided volatility, or Choppy/quiet/range bound trading.
My experience is that crude will more often fall into the first 2 categories: strong trend or two-sided volatility. This leads me to my next point below, different trading set-ups.
My preferred methods for trading crude are either breakout concept in an attempt to catch a strong move up or down once the market broke some key support or resistance levels, AND/OR counter trend methods to take advantage of when the market is oversold or overbought. Crude does seem to bring more fear and greed out of traders. So looking at RSI levels, for example, and using moving averages ON the RSI to try and get a feel for market reversals are methods worth exploring.
Like with any other trading, keep a journal. Take notes on how the market reacted to certain reports, how the markets traded during certain times of the day, and action you took and emotions you had that either helped or hurt you while trading. These notes will help you going forward.
In summary, crude oil futures volume has increased significantly these past few years. The crude oil futures offer traders certain dynamics that other markets may not at certain times. Volatility, fear and greed are key traits for this market. Remember that trading crude oil futures specifically and futures and options in general carries a large degree of risk and is not suitable for all investors. Make sure you consult with a series 3 broker if you never traded this market before. As always, I wish you Good Trading!
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
There is not an actual account trading these recommendations.
Past performances are not necessarily indicative of future results.
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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
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Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Futures Trading Levels
5-4-2018
| Contract June 2018 | SP500 #ES_F | Nasdaq100 #NQ_F | Dow Jones #YM_F | Mini Russell #RTY_F | BitCoin Index #XBT_F |
| Resistance 3 | 2692.58 | 6840.67 | 24540 | 1588.43 | 10421.08 |
| Resistance 2 | 2664.42 | 6756.08 | 24240 | 1572.97 | 10072.48 |
| Resistance 1 | 2647.58 | 6707.17 | 24067 | 1562.03 | 9858.25 |
| Pivot | 2619.42 | 6622.58 | 23767 | 1546.57 | 9509.65 |
| Support 1 | 2602.58 | 6573.67 | 23594 | 1535.63 | 9295.42 |
| Support 2 | 2574.42 | 6489.08 | 23294 | 1520.17 | 8946.82 |
| Support 3 | 2557.58 | 6440.17 | 23121 | 1509.23 | 8732.59 |
| Contract | June Gold #GC_F | May Silver #SI-F | June Crude Oil #CL-F | June Bonds #ZB_F | June Euro #6E_F |
| Resistance 3 | 1332.9 | 16.82 | 70.37 | 144 13/32 | 1.2112 |
| Resistance 2 | 1325.9 | 16.72 | 69.49 | 144 5/32 | 1.2078 |
| Resistance 1 | 1319.1 | 16.59 | 68.98 | 143 27/32 | 1.2051 |
| Pivot | 1312.1 | 16.49 | 68.10 | 143 19/32 | 1.2018 |
| Support 1 | 1305.3 | 16.35 | 67.59 | 143 9/32 | 1.1991 |
| Support 2 | 1298.3 | 16.25 | 66.71 | 143 1/32 | 1.1957 |
| Support 3 | 1291.5 | 16.12 | 66.20 | 142 23/32 | 1.1930 |
| Contract | July Corn #ZC_F | July Wheat #ZW_F | July Beans #ZS_F | July SoyMeal #ZM_F | May Nat Gas #NG_F |
| Resistance 3 | 414.4 | 560.4 | 1082.67 | 407.40 | 2.84 |
| Resistance 2 | 411.3 | 549.3 | 1069.08 | 404.40 | 2.81 |
| Resistance 1 | 409.7 | 543.7 | 1061.17 | 401.50 | 2.77 |
| Pivot | 406.6 | 532.6 | 1047.58 | 398.50 | 2.74 |
| Support 1 | 404.9 | 526.9 | 1039.7 | 395.6 | 2.7 |
| Support 2 | 401.8 | 515.8 | 1026.08 | 392.60 | 2.66 |
| Support 3 | 400.2 | 510.2 | 1018.17 | 389.70 | 2.62 |
Economic ReportsSource: http://forexfactory.com
| Date | 4:12pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
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| FriMay 4 | 2:45am | EUR |
French Gov Budget Balance
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-28.5B | |||||
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French Trade Balance
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-4.9B | -5.2B | ||||||
| 3:00am | EUR |
Spanish Unemployment Change
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-100.2K | -47.7K | |||||
| 3:15am | EUR |
Spanish Services PMI
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56.1 | 56.2 | |||||
| 3:45am | EUR |
Italian Services PMI
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53.0 | 52.6 | |||||
| 3:50am | EUR |
French Final Services PMI
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57.4 | 57.4 | |||||
| 3:55am | EUR |
German Final Services PMI
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54.1 | 54.1 | |||||
| 4:00am | EUR |
Final Services PMI
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55.0 | 55.0 | |||||
| 5:00am | EUR |
Retail Sales m/m
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0.5% | 0.1% | |||||
| 8:30am | USD |
Average Hourly Earnings m/m
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0.2% | 0.3% | |||||
| USD |
Non-Farm Employment Change
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189K | 103K | ||||||
| USD |
Unemployment Rate
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4.0% | 4.1% | ||||||
| 9:00am | EUR |
German Buba President Weidmann Speaks
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| 12:00pm | USD |
FOMC Member Dudley Speaks
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| 3:00pm | USD |
FOMC Member Williams Speaks
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| 5:30pm | USD |
FOMC Member Quarles Speaks
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| 8:00pm | USD |
FOMC Member Bostic Speaks
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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 here in 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 judgement in trading.
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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
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Dear Traders,
With the energy numbers coming out tomorrow, which impact crude oil quite a bit, I thought it would be a good time to share this article I wrote once again:
Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Futures Trading Levels
4-17-2018
| Contract June 2018 | SP500 #ES_F | Nasdaq100 #NQ_F | Dow Jones #YM_F | Mini Russell #RTY_F | BitCoin Index #XBT_F |
| Resistance 3 | 2755.75 | 7028.08 | 25152 | 1613.53 | 8404.83 |
| Resistance 2 | 2734.75 | 6936.42 | 24990 | 1600.27 | 8283.07 |
| Resistance 1 | 2720.75 | 6881.83 | 24875 | 1591.73 | 8066.58 |
| Pivot | 2699.75 | 6790.17 | 24713 | 1578.47 | 7944.82 |
| Support 1 | 2685.75 | 6735.58 | 24598 | 1569.93 | 7728.33 |
| Support 2 | 2664.75 | 6643.92 | 24436 | 1556.67 | 7606.57 |
| Support 3 | 2650.75 | 6589.33 | 24321 | 1548.13 | 7390.08 |
| Contract | June Gold #GC_F | May Silver #SI-F | May Crude Oil #CL-F | June Bonds #ZB_F | June Euro #6E_F |
| Resistance 3 | 1366.9 | 17.09 | 68.15 | 146 24/32 | 1.2546 |
| Resistance 2 | 1359.5 | 16.95 | 67.45 | 146 13/32 | 1.2507 |
| Resistance 1 | 1354.9 | 16.86 | 66.96 | 146 3/32 | 1.2467 |
| Pivot | 1347.5 | 16.72 | 66.26 | 145 24/32 | 1.2429 |
| Support 1 | 1342.9 | 16.63 | 65.77 | 145 14/32 | 1.2389 |
| Support 2 | 1335.5 | 16.49 | 65.07 | 145 3/32 | 1.2350 |
| Support 3 | 1330.9 | 16.40 | 64.58 | 144 25/32 | 1.2310 |
| Contract | May Corn #ZC_F | May Wheat #ZW_F | May Beans #ZS_F | May SoyMeal #ZM_F | May Nat Gas #NG_F |
| Resistance 3 | 387.2 | 480.1 | 1057.33 | 387.03 | 2.81 |
| Resistance 2 | 385.6 | 475.4 | 1052.67 | 384.37 | 2.79 |
| Resistance 1 | 382.9 | 470.8 | 1049.33 | 382.73 | 2.76 |
| Pivot | 381.3 | 466.2 | 1044.67 | 380.07 | 2.74 |
| Support 1 | 378.7 | 461.6 | 1041.3 | 378.4 | 2.7 |
| Support 2 | 377.1 | 456.9 | 1036.67 | 375.77 | 2.69 |
| Support 3 | 374.4 | 452.3 | 1033.33 | 374.13 | 2.66 |
Economic Reports, source:
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 here in 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 judgement in trading.
____________________________________________________________________
Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
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Front month for crude oil and Natural gas is March.
Front month for gold is now April.
Tomorrow is the last trading day of the month. I have seen the markets make some large moves on last/first trading days of the months and my assumption is that large funds either exit/ enter/close positions for different reasons on these days.
Take notes and keep a journal!!
Some good resources for you to browse:
Day trading crude oil article: https://www.cannontrading.com/community/day-trading-crude-oil-futures
Trading Calendar: https://www.cannontrading.com/tools/futures-trading-calendar
Chart Patterns: https://www.cannontrading.com/tools/recognizing-charts-patterns
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Futures Trading Levels
1-31-2018
| Contract March 2018 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2890.83 | 7105.50 | 26856 | 1617.87 | 12451.67 |
| Resistance 2 | 2874.42 | 7056.00 | 26666 | 1608.63 | 11848.33 |
| Resistance 1 | 2851.33 | 7001.75 | 26384 | 1597.87 | 10926.67 |
| Pivot | 2834.92 | 6952.25 | 26194 | 1588.63 | 10323.33 |
| Support 1 | 2811.83 | 6898.00 | 25912 | 1577.87 | 9401.67 |
| Support 2 | 2795.42 | 6848.50 | 25722 | 1568.63 | 8798.33 |
| Support 3 | 2772.33 | 6794.25 | 25440 | 1557.87 | 7876.67 |
| Contract | Apr. Gold | Mar. Silver | Mar. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1364.4 | 17.52 | 66.69 | 149 10/32 | 1.2612 |
| Resistance 2 | 1358.4 | 17.41 | 66.13 | 148 26/32 | 1.2552 |
| Resistance 1 | 1349.4 | 17.25 | 65.23 | 148 3/32 | 1.2493 |
| Pivot | 1343.4 | 17.14 | 64.67 | 147 19/32 | 1.2432 |
| Support 1 | 1334.4 | 16.98 | 63.77 | 146 28/32 | 1.2373 |
| Support 2 | 1328.4 | 16.87 | 63.21 | 146 12/32 | 1.2313 |
| Support 3 | 1319.4 | 16.71 | 62.31 | 145 21/32 | 1.2254 |
| Contract | Mar. Corn | Mar. Wheat | March Beans | Mar. SoyMeal | Mar. Nat Gas |
| Resistance 3 | 365.4 | 465.8 | 1018.42 | 351.93 | 3.33 |
| Resistance 2 | 363.8 | 461.8 | 1011.58 | 347.37 | 3.29 |
| Resistance 1 | 362.7 | 459.5 | 1005.92 | 343.93 | 3.23 |
| Pivot | 361.1 | 455.5 | 999.08 | 339.37 | 3.20 |
| Support 1 | 359.9 | 453.3 | 993.4 | 335.9 | 3.1 |
| Support 2 | 358.3 | 449.3 | 986.58 | 331.37 | 3.10 |
| Support 3 | 357.2 | 447.0 | 980.92 | 327.93 | 3.03 |
Economic Reports, source:
http://app.bettertrader.co
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 here in 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 judgement in trading.
____________________________________________________________________
Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!
____________________________________________________________________
Dear Traders,
Trading was MUCH lighter today than normal…mini SP volume is normally above 1,000,000 contracts per day. Today volume was approx. 300000.
I suspect the lower volume to continue until next Tuesday when we start trading for 2018.
Don’t confuse low volume with “dead price action”. The lower volume can sometimes help exaggerate price moves when certain news or events take place.
The market of today, was definitely crude oil (yes not bitcoin futures this time…). The front month, February touched 60.01 for the first time in
months, maybe couple of years…
Daily chart for review below:
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Futures Trading Levels
12-27-2017
| Contract March 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2695.83 | 6550.50 | 24908 | 1558.63 | 18758.33 |
| Resistance 2 | 2692.67 | 6521.25 | 24853 | 1554.47 | 17447.08 |
| Resistance 1 | 2689.83 | 6490.75 | 24817 | 1551.73 | 16606.42 |
| Pivot | 2686.67 | 6461.50 | 24762 | 1547.57 | 15295.17 |
| Support 1 | 2683.83 | 6431.00 | 24726 | 1544.83 | 14454.51 |
| Support 2 | 2680.67 | 6401.75 | 24671 | 1540.67 | 13143.26 |
| Support 3 | 2677.83 | 6371.25 | 24635 | 1537.93 | 12302.60 |
| Contract | Feb. Gold | Mar. Silver | Feb. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1302.2 | 16.99 | 62.10 | 152 22/32 | 1.1997 |
| Resistance 2 | 1295.3 | 16.81 | 61.05 | 152 8/32 | 1.1979 |
| Resistance 1 | 1291.5 | 16.71 | 60.41 | 151 27/32 | 1.1959 |
| Pivot | 1284.6 | 16.54 | 59.36 | 151 13/32 | 1.1941 |
| Support 1 | 1280.8 | 16.44 | 58.72 | 151 | 1.1921 |
| Support 2 | 1273.9 | 16.26 | 57.67 | 150 18/32 | 1.1903 |
| Support 3 | 1270.1 | 16.16 | 57.03 | 150 5/32 | 1.1883 |
| Contract | Mar. Corn | Mar. Wheat | March Beans | Mar. SoyMeal | Feb. Nat Gas |
| Resistance 3 | 355.9 | 431.8 | 986.33 | 324.97 | 2.86 |
| Resistance 2 | 354.6 | 429.3 | 980.17 | 323.13 | 2.81 |
| Resistance 1 | 353.7 | 425.8 | 975.33 | 321.27 | 2.73 |
| Pivot | 352.3 | 423.3 | 969.17 | 319.43 | 2.68 |
| Support 1 | 351.4 | 419.8 | 964.3 | 317.6 | 2.6 |
| Support 2 | 350.1 | 417.3 | 958.17 | 315.73 | 2.55 |
| Support 3 | 349.2 | 413.8 | 953.33 | 313.87 | 2.47 |
Economic Reports, source:
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 here in 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 judgement in trading.
____________________________________________________________________
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Dear Traders,
Front month for Silver and most grains is now March.
Front month for gold is now February.
Front month for bonds and other interest futures is now March 2018.
Saudi Arabia: Turbulence on the Horizon?
There is considerable change underway in Saudi Arabia, from how the country is governed and managed to an even more activist role in the politics of the volatile Middle East. Options markets, however, appear to be almost entirely unconcerned about recent developments in the country, the world’s largest exporter of crude oil and a key U.S. ally in the Middle East.
At-the-money implied volatility on West Texas Intermediate (WTI) Crude Oil options has been trading near its lowest point since late 2014 and is well below its long-term average. For example, on November 17, 90-day WTI options closed at 23% implied volatility, well below their 31% average so far this decade (Figure 1). Are markets too complacent in the face of potential political disruption in Saudi Arabia and its neighboring countries. READ THE REST
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Futures Trading Levels
11-30-2017
| Contract December 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2647.58 | 6543.67 | 24142 | 1566.33 | 13202.77 |
| Resistance 2 | 2640.92 | 6486.08 | 24044 | 1558.47 | 12291.50 |
| Resistance 1 | 2633.08 | 6398.17 | 23986 | 1550.23 | 10993.51 |
| Pivot | 2626.42 | 6340.58 | 23888 | 1542.37 | 10082.24 |
| Support 1 | 2618.58 | 6252.67 | 23830 | 1534.13 | 8784.25 |
| Support 2 | 2611.92 | 6195.08 | 23732 | 1526.27 | 7872.98 |
| Support 3 | 2604.08 | 6107.17 | 23674 | 1518.03 | 6574.99 |
| Contract | Feb. Gold | Mar. Silver | Jan. Crude Oil | Mar. Bonds | Dec. Euro |
| Resistance 3 | 1312.5 | 17.27 | 59.77 | 155 4/32 | 1.1964 |
| Resistance 2 | 1306.4 | 17.12 | 59.03 | 154 12/32 | 1.1930 |
| Resistance 1 | 1297.2 | 16.86 | 58.22 | 153 8/32 | 1.1898 |
| Pivot | 1291.1 | 16.71 | 57.48 | 152 16/32 | 1.1863 |
| Support 1 | 1281.9 | 16.45 | 56.67 | 151 12/32 | 1.1831 |
| Support 2 | 1275.8 | 16.30 | 55.93 | 150 20/32 | 1.1797 |
| Support 3 | 1266.6 | 16.04 | 55.12 | 149 16/32 | 1.1765 |
| Contract | Mar. Corn | Mar. Wheat | January Beans | Mar. SoyMeal | Jan. Nat Gas |
| Resistance 3 | 358.3 | 439.3 | 1001.50 | 333.73 | 3.31 |
| Resistance 2 | 356.0 | 437.4 | 999.00 | 331.57 | 3.27 |
| Resistance 1 | 354.8 | 436.1 | 995.75 | 329.43 | 3.22 |
| Pivot | 352.5 | 434.2 | 993.25 | 327.27 | 3.17 |
| Support 1 | 351.3 | 432.8 | 990.0 | 325.1 | 3.1 |
| Support 2 | 349.0 | 430.9 | 987.50 | 322.97 | 3.08 |
| Support 3 | 347.8 | 429.6 | 984.25 | 320.83 | 3.04 |
Economic Reports, source:
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 here in 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 judgement in trading.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
In today’s blog, note about tomorrow’s full day of reports, changes to Russell contract size, reminder of current front months
Dear Traders,
Looking at the schedule for tomorrow – BIG day ahead.
We have OPEC, Crude Oil report, Beige book, ADP employment report, CPI and much more.
Check the calendar on section 3 of this blog. Set alarms. Know which reports affect the markets you trade so you don’t get caught in one of those moments where you yell ” What the heck just happened??”
Effective on trade date Monday, December 5th, ICE Futures US will change the contract size for mini Russell 2000:
Mini Russell 2000 used to be that one point was $100 or 1 tick was $10. As of next Monday, one point will be worth $50 and each tick will be $5.
Assigned Deliveries can be a very costly process to try and reverse…..make sure you are trading the correct months:
If you enjoy our blog and the information we share, please vote for us as #1 under the “Blog Section” and provide us with the strength and energy to continue and providing you with the best tips and information on this blog!!
You can vote daily, both for the blog and for Cannon Brokerage services!!
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 11.29.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2223.33 | 4948.08 | 19217 | 1344.17 | 102.24 |
| Resistance 2 | 2216.42 | 4922.92 | 19174 | 1340.33 | 101.96 |
| Resistance 1 | 2210.08 | 4897.83 | 19144 | 1334.17 | 101.49 |
| Pivot | 2203.17 | 4872.67 | 19101 | 1330.33 | 101.21 |
| Support 1 | 2196.83 | 4847.58 | 19071 | 1324.17 | 100.74 |
| Support 2 | 2189.92 | 4822.42 | 19028 | 1320.33 | 100.46 |
| Support 3 | 2183.58 | 4797.33 | 18998 | 1314.17 | 99.99 |
| Contract | Feb. Gold | March Silver | Jan. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1212.7 | 17.13 | 48.71 | 154 16/32 | 1.0769 |
| Resistance 2 | 1205.2 | 16.95 | 47.85 | 153 24/32 | 1.0714 |
| Resistance 1 | 1197.6 | 16.82 | 46.55 | 153 8/32 | 1.0684 |
| Pivot | 1190.1 | 16.64 | 45.69 | 152 16/32 | 1.0629 |
| Support 1 | 1182.5 | 16.51 | 44.39 | 152 | 1.0599 |
| Support 2 | 1175.0 | 16.33 | 43.53 | 151 8/32 | 1.0544 |
| Support 3 | 1167.4 | 16.20 | 42.23 | 150 24/32 | 1.0514 |
| Contract | March Corn | March Wheat | Jan. Beans | March SoyMeal | Jan. Nat Gas |
| Resistance 3 | 351.7 | 421.3 | 1057.25 | 332.97 | 3.46 |
| Resistance 2 | 348.6 | 418.4 | 1053.00 | 330.73 | 3.41 |
| Resistance 1 | 342.7 | 413.6 | 1047.75 | 327.47 | 3.37 |
| Pivot | 339.6 | 410.7 | 1043.50 | 325.23 | 3.32 |
| Support 1 | 333.7 | 405.8 | 1038.3 | 322.0 | 3.3 |
| Support 2 | 330.6 | 402.9 | 1034.00 | 319.73 | 3.23 |
| Support 3 | 324.7 | 398.1 | 1028.75 | 316.47 | 3.19 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:25pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedNov 30 | 2:00am | EUR |
German Retail Sales m/m
|
1.0% | -1.4% | ||||
| GBP |
Bank Stress Test Results
|
||||||||
| GBP |
BOE Financial Stability Report
|
||||||||
| GBP |
FPC Statement
|
||||||||
| 2:45am | EUR |
French Prelim CPI m/m
|
-0.1% | 0.0% | |||||
| 3:55am | EUR |
German Unemployment Change
|
-6K | -13K | |||||
| All Day | ALL |
OPEC Meetings
|
|||||||
| 5:00am | EUR |
CPI Flash Estimate y/y
|
0.6% | 0.5% | |||||
| EUR |
Core CPI Flash Estimate y/y
|
0.8% | 0.8% | ||||||
| EUR |
Italian Prelim CPI m/m
|
-0.2% | -0.1% | ||||||
| 7:30am | EUR |
ECB President Draghi Speaks
|
|||||||
| 8:15am | USD |
ADP Non-Farm Employment Change
|
161K | 147K | |||||
| 8:30am | USD |
Core PCE Price Index m/m
|
0.1% | 0.1% | |||||
| USD |
Personal Spending m/m
|
0.5% | 0.5% | ||||||
| USD |
Personal Income m/m
|
0.4% | 0.3% | ||||||
| 9:45am | USD |
Chicago PMI
|
52.1 | 50.6 | |||||
| 10:00am | USD |
Pending Home Sales m/m
|
0.3% | 1.5% | |||||
| 10:30am | USD |
Crude Oil Inventories
|
-1.3M | ||||||
| 11:00am | EUR |
German Buba President Weidmann Speaks
|
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| 11:45am | USD |
FOMC Member Powell Speaks
|
|||||||
| 2:00pm | USD |
Beige Book
|
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 here in 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 judgement in trading.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday November 18, 2016
Greetings!
Dear Traders,
Many of you shared with me how frustrated you get when you get stopped out only to see the market goes back to where you wanted it to or positioned for….
This article by my colleague John Thorpe, talks about using weekly mini SP 500 options and can be applied to gold, bonds, crude oil and other markets that have weekly options. Must read.
Weekly Mini S&P option contracts
There are 100’s of indicators available to traders to assist with decision making that can be applied to technical analysis, which is precisely the reason to utilize a sound and inexpensive weekly ES strategy to compliment a day trading strategy.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 11.18.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2202.67 | 4891.25 | 18946 | 1326.60 | 102.36 |
| Resistance 2 | 2194.08 | 4859.00 | 18909 | 1320.30 | 101.68 |
| Resistance 1 | 2188.92 | 4842.50 | 18886 | 1314.60 | 101.33 |
| Pivot | 2180.33 | 4810.25 | 18849 | 1308.30 | 100.65 |
| Support 1 | 2175.17 | 4793.75 | 18826 | 1302.60 | 100.30 |
| Support 2 | 2166.58 | 4761.50 | 18789 | 1296.30 | 99.62 |
| Support 3 | 2161.42 | 4745.00 | 18766 | 1290.60 | 99.27 |
| Contract | Dec. Gold | Dec. Silver | Jan. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1249.4 | 17.50 | 47.77 | 156 19/32 | 1.0845 |
| Resistance 2 | 1240.3 | 17.29 | 47.17 | 155 31/32 | 1.0801 |
| Resistance 1 | 1228.8 | 17.00 | 46.07 | 154 26/32 | 1.0719 |
| Pivot | 1219.7 | 16.79 | 45.47 | 154 6/32 | 1.0675 |
| Support 1 | 1208.2 | 16.49 | 44.37 | 153 1/32 | 1.0593 |
| Support 2 | 1199.1 | 16.28 | 43.77 | 152 13/32 | 1.0549 |
| Support 3 | 1187.6 | 15.99 | 42.67 | 151 8/32 | 1.0467 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. Nat Gas |
| Resistance 3 | 349.5 | 416.7 | 1007.92 | 318.73 | 2.89 |
| Resistance 2 | 346.5 | 411.3 | 1000.83 | 315.57 | 2.84 |
| Resistance 1 | 344.3 | 407.2 | 995.17 | 313.53 | 2.77 |
| Pivot | 341.3 | 401.8 | 988.08 | 310.37 | 2.73 |
| Support 1 | 339.0 | 397.7 | 982.4 | 308.3 | 2.7 |
| Support 2 | 336.0 | 392.3 | 975.33 | 305.17 | 2.61 |
| Support 3 | 333.8 | 388.2 | 969.67 | 303.13 | 2.54 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:53pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriNov 18 | 2:00am | EUR |
German PPI m/m
|
0.3% | -0.2% | ||||
| 3:30am | EUR |
ECB President Draghi Speaks
|
|||||||
| 4:00am | EUR |
Current Account
|
31.3B | 29.7B | |||||
| 4:10am | GBP |
MPC Member Broadbent Speaks
|
|||||||
| 5:30am | EUR |
German Buba President Weidmann Speaks
|
|||||||
| USD |
FOMC Member Bullard Speaks
|
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| 9:30am | USD |
FOMC Member Dudley Speaks
|
|||||||
| USD |
FOMC Member George Speaks
|
||||||||
| 10:00am | USD |
CB Leading Index m/m
|
0.1% | 0.2% | |||||
| 9:45pm | USD |
FOMC Member Powell Speaks
|
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday November 11, 2016
Greetings!
Would you like to try trading indicators NOT found anywhere else?
If so check out https://www.cannontrading.com/tools/intraday-futures-trading-signals
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 11.15.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2194.50 | 4874.00 | 19056 | 1337.23 | 101.62 |
| Resistance 2 | 2184.50 | 4829.25 | 18987 | 1322.67 | 100.93 |
| Resistance 1 | 2172.25 | 4762.25 | 18900 | 1310.43 | 100.48 |
| Pivot | 2162.25 | 4717.50 | 18831 | 1295.87 | 99.79 |
| Support 1 | 2150.00 | 4650.50 | 18744 | 1283.63 | 99.34 |
| Support 2 | 2140.00 | 4605.75 | 18675 | 1269.07 | 98.65 |
| Support 3 | 2127.75 | 4538.75 | 18588 | 1256.83 | 98.20 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1249.6 | 18.23 | 45.90 | 157 3/32 | 1.0961 |
| Resistance 2 | 1240.3 | 17.86 | 44.86 | 156 8/32 | 1.0909 |
| Resistance 1 | 1229.7 | 17.36 | 44.29 | 155 5/32 | 1.0828 |
| Pivot | 1220.4 | 16.99 | 43.25 | 154 10/32 | 1.0775 |
| Support 1 | 1209.8 | 16.49 | 42.68 | 153 7/32 | 1.0694 |
| Support 2 | 1200.5 | 16.12 | 41.64 | 152 12/32 | 1.0642 |
| Support 3 | 1189.9 | 15.62 | 41.07 | 151 9/32 | 1.0561 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. Nat Gas |
| Resistance 3 | 342.9 | 403.9 | 996.67 | 318.63 | 2.94 |
| Resistance 2 | 341.1 | 401.3 | 991.58 | 314.97 | 2.86 |
| Resistance 1 | 339.2 | 397.7 | 987.92 | 312.43 | 2.80 |
| Pivot | 337.3 | 395.1 | 982.83 | 308.77 | 2.72 |
| Support 1 | 335.4 | 391.4 | 979.2 | 306.2 | 2.7 |
| Support 2 | 333.6 | 388.8 | 974.08 | 302.57 | 2.59 |
| Support 3 | 331.7 | 385.2 | 970.42 | 300.03 | 2.54 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| 3:54pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | ||
|---|---|---|---|---|---|---|---|---|---|
| TueNov 15 | 2:00am | EUR |
German Prelim GDP q/q
|
0.3% | 0.4% | ||||
| 2:45am | EUR |
French Final CPI m/m
|
0.0% | 0.0% | |||||
| 4:00am | EUR |
Italian Prelim GDP q/q
|
0.2% | 0.0% | |||||
| 5:00am | EUR |
Flash GDP q/q
|
0.3% | 0.3% | |||||
| EUR |
German ZEW Economic Sentiment
|
7.9 | 6.2 | ||||||
| EUR |
Trade Balance
|
22.3B | 23.3B | ||||||
| EUR |
ZEW Economic Sentiment
|
14.3 | 12.3 | ||||||
| 8:30am | USD |
Core Retail Sales m/m
|
0.5% | 0.5% | |||||
| USD |
Retail Sales m/m
|
0.6% | 0.6% | ||||||
| USD |
Empire State Manufacturing Index
|
-1.5 | -6.8 | ||||||
| USD |
Import Prices m/m
|
0.4% | 0.1% | ||||||
| 10:00am | USD |
Business Inventories m/m
|
0.2% | 0.2% |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday October 28, 2016
Greetings!
Good read by the CME about oil prices:
Oil: Tell-Tale Signs in U.S. Inventories
For those hoping for a sustained rebound in oil prices, U.S. inventories might present a mixed picture. First the bad news: crude oil inventories are still near record high levels and are continuing to rise on a year-on-year basis. Gasoline and ultra-low sulfur diesel (ULSD) inventories are also increasing year on year but to a lesser extent. Inventories of all three remain near seasonally-adjusted record highs.
The good news is that the pace of inventory accumulation is slowing rapidly. For a while in 2015, crude oil inventories were rising as much as 31% year on year. Currently, they are just 5% greater than a year ago (Figure 2). Gasoline inventories are up about 4% from last year while ULSD inventories are up about 7% from a year ago. At their peak rate of increase, gasoline inventories rose at about 11% year on year, while ULSD inventories increased by as much as 27% year on year.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 10.28.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2157.42 | 4930.58 | 18281 | 1223.23 | 99.61 |
| Resistance 2 | 2150.58 | 4905.42 | 18232 | 1215.57 | 99.31 |
| Resistance 1 | 2138.17 | 4859.33 | 18163 | 1200.63 | 99.09 |
| Pivot | 2131.33 | 4834.17 | 18114 | 1192.97 | 98.79 |
| Support 1 | 2118.92 | 4788.08 | 18045 | 1178.03 | 98.57 |
| Support 2 | 2112.08 | 4762.92 | 17996 | 1170.37 | 98.27 |
| Support 3 | 2099.67 | 4716.83 | 17927 | 1155.43 | 98.05 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1282.7 | 17.91 | 51.18 | 165 29/32 | 1.1017 |
| Resistance 2 | 1278.2 | 17.82 | 50.62 | 164 29/32 | 1.0991 |
| Resistance 1 | 1274.2 | 17.73 | 50.12 | 163 21/32 | 1.0957 |
| Pivot | 1269.7 | 17.64 | 49.56 | 162 21/32 | 1.0931 |
| Support 1 | 1265.7 | 17.55 | 49.06 | 161 13/32 | 1.0897 |
| Support 2 | 1261.2 | 17.46 | 48.50 | 160 13/32 | 1.0871 |
| Support 3 | 1257.2 | 17.37 | 48.00 | 159 5/32 | 1.0837 |
| Contract | Dec. Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. Nat Gas |
| Resistance 3 | 366.2 | 425.6 | 1039.17 | 342.80 | 3.21 |
| Resistance 2 | 362.3 | 422.2 | 1029.58 | 335.80 | 3.16 |
| Resistance 1 | 359.9 | 418.3 | 1021.92 | 331.70 | 3.11 |
| Pivot | 356.1 | 414.9 | 1012.33 | 324.70 | 3.05 |
| Support 1 | 353.7 | 411.1 | 1004.7 | 320.6 | 3.0 |
| Support 2 | 349.8 | 407.7 | 995.08 | 313.60 | 2.95 |
| Support 3 | 347.4 | 403.8 | 987.42 | 309.50 | 2.90 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:18pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriOct 28 | 1:30am | EUR |
French Prelim GDP q/q
|
0.3% | -0.1% | ||||
| All Day | EUR |
German Prelim CPI m/m
|
0.1% | 0.1% | |||||
| 2:45am | EUR |
French Consumer Spending m/m
|
0.3% | 0.7% | |||||
| EUR |
French Prelim CPI m/m
|
0.2% | -0.2% | ||||||
| 3:00am | EUR |
Spanish Flash CPI y/y
|
0.3% | 0.2% | |||||
| EUR |
Spanish Flash GDP q/q
|
0.7% | 0.8% | ||||||
| Tentative | EUR |
Italian 10-y Bond Auction
|
1.21|1.4 | ||||||
| 8:30am | USD |
Advance GDP q/q
|
2.5% | 1.4% | |||||
| USD |
Advance GDP Price Index q/q
|
1.3% | 2.3% | ||||||
| USD |
Employment Cost Index q/q
|
0.6% | 0.6% | ||||||
| 10:00am | USD |
Revised UoM Consumer Sentiment
|
88.2 | 87.9 | |||||
| USD |
Revised UoM Inflation Expectations
|
2.4% |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 29, 2016
Greetings!
What a volatile day in the energy sector…..
We started with the energy report sending prices much lower only to get some reports on agreement between some of the oil producing countries to limit production…..
Buy the rumor sell the fact?
time will tell but if you are trading energies be aware of the news and adjust your trading as volatility expands like it just did…..
Daily chart of Crude Oil for fun….
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 9.29.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2192.92 | 4909.75 | 18482 | 1276.27 | 95.96 |
| Resistance 2 | 2179.08 | 4891.50 | 18371 | 1264.83 | 95.81 |
| Resistance 1 | 2171.67 | 4881.25 | 18312 | 1258.97 | 95.58 |
| Pivot | 2157.83 | 4863.00 | 18201 | 1247.53 | 95.43 |
| Support 1 | 2150.42 | 4852.75 | 18142 | 1241.67 | 95.21 |
| Support 2 | 2136.58 | 4834.50 | 18031 | 1230.23 | 95.06 |
| Support 3 | 2129.17 | 4824.25 | 17972 | 1224.37 | 94.83 |
| Contract | Dec. Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1341.4 | 19.64 | 51.07 | 170 24/32 | 1.1336 |
| Resistance 2 | 1336.2 | 19.45 | 49.26 | 170 14/32 | 1.1307 |
| Resistance 1 | 1331.4 | 19.34 | 47.97 | 169 26/32 | 1.1281 |
| Pivot | 1326.2 | 19.16 | 46.16 | 169 16/32 | 1.1251 |
| Support 1 | 1321.4 | 19.05 | 44.87 | 168 28/32 | 1.1225 |
| Support 2 | 1316.2 | 18.86 | 43.06 | 168 18/32 | 1.1196 |
| Support 3 | 1311.4 | 18.75 | 41.77 | 167 30/32 | 1.1170 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Nov. Nat Gas |
| Resistance 3 | 333.7 | 411.9 | 963.92 | 309.30 | 3.15 |
| Resistance 2 | 332.6 | 409.6 | 959.83 | 306.80 | 3.10 |
| Resistance 1 | 330.9 | 406.4 | 952.67 | 303.10 | 3.05 |
| Pivot | 329.8 | 404.1 | 948.58 | 300.60 | 3.00 |
| Support 1 | 328.2 | 400.9 | 941.4 | 296.9 | 2.9 |
| Support 2 | 327.1 | 398.6 | 937.33 | 294.40 | 2.90 |
| Support 3 | 325.4 | 395.4 | 930.17 | 290.70 | 2.85 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:59pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedSep 28 | 2:00am | EUR |
GfK German Consumer Climate
|
10.0 | 10.2 | 10.2 | |||
| 4:05am | GBP |
MPC Member Shafik Speaks
|
|||||||
| 8:30am | USD |
Core Durable Goods Orders m/m
|
-0.4% | -0.5% | 1.3% | ||||
| USD |
Durable Goods Orders m/m
|
0.0% | -1.0% | 3.6% | |||||
| 9:30am | EUR |
ECB President Draghi Speaks
|
|||||||
| 10:00am | USD |
Fed Chair Yellen Testifies
|
|||||||
| 10:10am | USD |
FOMC Member Bullard Speaks
|
|||||||
| 10:30am | USD |
Crude Oil Inventories
|
-1.9M | 2.4M | -6.2M | ||||
| 4:35pm | USD |
FOMC Member Mester Speaks
|
|||||||
| 7:15pm | USD |
FOMC Member George Speaks
|
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 28, 2016
Greetings!
We have a full day tomorrow!
Crude Oil numbers, Fed. members speaking, Draghi speaking, durable goods….
I wrote before on trading or not trading during big numbers.
Each of you is a different person, different trader and hence the importance of keeping a personal trading journal. If you trade crude oil, you will be able to look back at your journal and decide if to trade or not during crude numbers and read from past weekly reprots which will greatly help you preparing for tomorrow report.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 9.28.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2181.50 | 4947.00 | 18405 | 1265.10 | 96.00 |
| Resistance 2 | 2167.75 | 4905.75 | 18278 | 1256.40 | 95.79 |
| Resistance 1 | 2160.25 | 4883.25 | 18212 | 1250.10 | 95.57 |
| Pivot | 2146.50 | 4842.00 | 18085 | 1241.40 | 95.36 |
| Support 1 | 2139.00 | 4819.50 | 18019 | 1235.10 | 95.13 |
| Support 2 | 2125.25 | 4778.25 | 17892 | 1226.40 | 94.92 |
| Support 3 | 2117.75 | 4755.75 | 17826 | 1220.10 | 94.70 |
| Contract | Dec. Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1356.2 | 20.10 | 47.40 | 170 22/32 | 1.1365 |
| Resistance 2 | 1349.9 | 19.85 | 46.68 | 170 6/32 | 1.1332 |
| Resistance 1 | 1340.4 | 19.53 | 45.63 | 169 26/32 | 1.1296 |
| Pivot | 1334.1 | 19.29 | 44.91 | 169 10/32 | 1.1264 |
| Support 1 | 1324.6 | 18.97 | 43.86 | 168 30/32 | 1.1228 |
| Support 2 | 1318.3 | 18.72 | 43.14 | 168 14/32 | 1.1195 |
| Support 3 | 1308.8 | 18.40 | 42.09 | 168 2/32 | 1.1159 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Nov. Nat Gas |
| Resistance 3 | 339.0 | 419.0 | 978.83 | 307.43 | 3.12 |
| Resistance 2 | 335.8 | 412.0 | 966.17 | 303.67 | 3.10 |
| Resistance 1 | 333.8 | 408.0 | 959.33 | 301.63 | 3.07 |
| Pivot | 330.5 | 401.0 | 946.67 | 297.87 | 3.05 |
| Support 1 | 328.5 | 397.0 | 939.8 | 295.8 | 3.0 |
| Support 2 | 325.3 | 390.0 | 927.17 | 292.07 | 3.01 |
| Support 3 | 323.3 | 386.0 | 920.33 | 290.03 | 2.98 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:10pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedSep 28 | 2:00am | EUR |
GfK German Consumer Climate
|
10.2 | 10.2 | ||||
| 4:05am | GBP |
MPC Member Shafik Speaks
|
|||||||
| 8:30am | USD |
Core Durable Goods Orders m/m
|
-0.5% | 1.3% | |||||
| USD |
Durable Goods Orders m/m
|
-1.0% | 4.4% | ||||||
| 10:00am | USD |
Fed Chair Yellen Testifies
|
|||||||
| 10:10am | USD |
FOMC Member Bullard Speaks
|
|||||||
| 10:30am | EUR |
ECB President Draghi Speaks
|
|||||||
| USD |
Crude Oil Inventories
|
-6.2M | |||||||
| 7:15pm | USD |
FOMC Member George Speaks
|
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 15, 2016
Greetings!
No words of wisdom today…so instead two charts of two markets that are sitting or very close to major support.
First is the mini SP 500, followed by Crude Oil.
Mini SP 500 Daily Chart
Crude Oil Daily Chart
If you need help, feel like chatting markets or getting feedback – we are here!
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 9.15.2016
| Contract Dec. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2153.67 | 4814.08 | 18236 | 1225.83 | 96.06 |
| Resistance 2 | 2144.08 | 4790.92 | 18160 | 1220.97 | 95.86 |
| Resistance 1 | 2131.17 | 4766.58 | 18057 | 1214.03 | 95.59 |
| Pivot | 2121.58 | 4743.42 | 17981 | 1209.17 | 95.39 |
| Support 1 | 2108.67 | 4719.08 | 17878 | 1202.23 | 95.13 |
| Support 2 | 2099.08 | 4695.92 | 17802 | 1197.37 | 94.93 |
| Support 3 | 2086.17 | 4671.58 | 17699 | 1190.43 | 94.66 |
| Contract | Dec. Gold | Dec. Silver | Oct. Crude Oil | Dec. Bonds | Sept. Euro |
| Resistance 3 | 1344.8 | 19.53 | 46.76 | 167 8/32 | 1.1343 |
| Resistance 2 | 1337.3 | 19.35 | 46.05 | 166 26/32 | 1.1310 |
| Resistance 1 | 1331.6 | 19.20 | 44.85 | 166 8/32 | 1.1281 |
| Pivot | 1324.1 | 19.02 | 44.14 | 165 26/32 | 1.1248 |
| Support 1 | 1318.4 | 18.87 | 42.94 | 165 8/32 | 1.1220 |
| Support 2 | 1310.9 | 18.69 | 42.23 | 164 26/32 | 1.1187 |
| Support 3 | 1305.2 | 18.54 | 41.03 | 164 8/32 | 1.1158 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Oct. Nat Gas |
| Resistance 3 | 339.2 | 415.8 | 954.50 | 311.00 | 3.09 |
| Resistance 2 | 335.6 | 410.0 | 951.25 | 309.90 | 3.03 |
| Resistance 1 | 333.7 | 406.5 | 947.00 | 307.80 | 2.96 |
| Pivot | 330.1 | 400.8 | 943.75 | 306.70 | 2.91 |
| Support 1 | 328.2 | 397.3 | 939.5 | 304.6 | 2.8 |
| Support 2 | 324.6 | 391.5 | 936.25 | 303.50 | 2.78 |
| Support 3 | 322.7 | 388.0 | 932.00 | 301.40 | 2.71 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:07pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuSep 15 | 4:30am | GBP |
Retail Sales m/m
|
-0.4% | 1.4% | ||||
| 5:00am | EUR |
Final CPI y/y
|
0.2% | 0.2% | |||||
| EUR |
Final Core CPI y/y
|
0.8% | 0.8% | ||||||
| EUR |
Trade Balance
|
22.1B | 23.4B | ||||||
| Tentative | EUR |
Spanish 10-y Bond Auction
|
1.10|2.1 | ||||||
| 7:00am | GBP |
MPC Official Bank Rate Votes
|
0-0-9 | 0-9-0 | |||||
| GBP |
Monetary Policy Summary
|
||||||||
| GBP |
Official Bank Rate
|
0.25% | 0.25% | ||||||
| GBP |
Asset Purchase Facility
|
435B | 435B | ||||||
| GBP |
MPC Asset Purchase Facility Votes
|
0-0-9 | 6-0-3 | ||||||
| 8:30am | USD |
Core Retail Sales m/m
|
0.3% | -0.3% | |||||
| USD |
PPI m/m
|
0.1% | -0.4% | ||||||
| USD |
Philly Fed Manufacturing Index
|
1.1 | 2.0 | ||||||
| USD |
Retail Sales m/m
|
-0.1% | 0.0% | ||||||
| USD |
Unemployment Claims
|
262K | 259K | ||||||
| USD |
Core PPI m/m
|
0.1% | -0.3% | ||||||
| USD |
Current Account
|
-120B | -125B | ||||||
| USD |
Empire State Manufacturing Index
|
-0.9 | -4.2 | ||||||
| 9:15am | USD |
Capacity Utilization Rate
|
75.8% | 75.9% | |||||
| USD |
Industrial Production m/m
|
-0.2% | 0.7% | ||||||
| 10:00am | USD |
Business Inventories m/m
|
0.1% | 0.2% | |||||
| 10:30am | USD |
Natural Gas Storage
|
57B | 36B |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday August 26, 2016
Hello Traders,
Greetings!
Crude Oil Futures Are Reaching a Decision Point
I like the potential of being bullish on crude oil futures for next few weeks! Here are a few ways you can do this:
Crude oil futures have been providing quite a bit of excitement the last few months. Most traders, myself included, like excitement when it comes to trading. It means two things: opportunities and risks.
The recent pullback in crude oil future prices present a buying opportunity, in my opinion.
Looking at the daily chart of crude oil below, you will see that I marked what I feel should be a support level for resumption of the upside move.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 8.26.2016
| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2187.75 | 4820.33 | 18563 | 1255.83 | 95.07 |
| Resistance 2 | 2182.50 | 4807.17 | 18524 | 1249.47 | 94.94 |
| Resistance 1 | 2178.00 | 4794.58 | 18484 | 1244.53 | 94.83 |
| Pivot | 2172.75 | 4781.42 | 18445 | 1238.17 | 94.69 |
| Support 1 | 2168.25 | 4768.83 | 18405 | 1233.23 | 94.58 |
| Support 2 | 2163.00 | 4755.67 | 18366 | 1226.87 | 94.45 |
| Support 3 | 2158.50 | 4743.08 | 18326 | 1221.93 | 94.34 |
| Contract | Dec. Gold | Sept. Silver | Oct. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1339.3 | 18.78 | 48.76 | 173 19/32 | 1.1348 |
| Resistance 2 | 1334.8 | 18.70 | 48.11 | 173 2/32 | 1.1328 |
| Resistance 1 | 1330.1 | 18.60 | 47.72 | 172 11/32 | 1.1309 |
| Pivot | 1325.6 | 18.52 | 47.07 | 171 26/32 | 1.1289 |
| Support 1 | 1320.9 | 18.42 | 46.68 | 171 3/32 | 1.1271 |
| Support 2 | 1316.4 | 18.34 | 46.03 | 170 18/32 | 1.1251 |
| Support 3 | 1311.7 | 18.24 | 45.64 | 169 27/32 | 1.1232 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Oct. Nat Gas |
| Resistance 3 | 340.9 | 431.4 | 1015.33 | 334.87 | 3.05 |
| Resistance 2 | 338.8 | 429.6 | 1007.17 | 331.53 | 2.97 |
| Resistance 1 | 335.4 | 426.7 | 991.33 | 325.17 | 2.93 |
| Pivot | 333.3 | 424.8 | 983.17 | 321.83 | 2.85 |
| Support 1 | 329.9 | 421.9 | 967.3 | 315.5 | 2.8 |
| Support 2 | 327.8 | 420.1 | 959.17 | 312.13 | 2.74 |
| Support 3 | 324.4 | 417.2 | 943.33 | 305.77 | 2.69 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:16pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriAug 26 | 2:00am | EUR |
GfK German Consumer Climate
|
10.2 | 10.0 | ||||
| 4:00am | EUR |
M3 Money Supply y/y
|
5.0% | 5.0% | |||||
| EUR |
Private Loans y/y
|
1.8% | 1.7% | ||||||
| 4:30am | GBP |
Second Estimate GDP q/q
|
0.6% | 0.6% | |||||
| GBP |
Prelim Business Investment q/q
|
-0.9% | -0.6% | ||||||
| GBP |
Index of Services 3m/3m
|
0.4% | 0.3% | ||||||
| 8:30am | USD |
Prelim GDP q/q
|
1.1% | 1.2% | |||||
| USD |
Goods Trade Balance
|
-62.3B | -63.3B | ||||||
| USD |
Prelim GDP Price Index q/q
|
2.2% | 2.2% | ||||||
| 10:00am | USD |
Fed Chair Yellen Speaks
|
|||||||
| USD |
Revised UoM Consumer Sentiment
|
90.6 | 90.4 | ||||||
| USD |
Revised UoM Inflation Expectations
|
2.5% | |||||||
| All Day | ALL |
Jackson Hole Symposium
|
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday August 24, 2016
Hello Traders,
Greetings!
Tomorrow, like almost every Wednesday, we will have EIA report at 9:30 AM Central Time. This report definitely moves the energy sector, crude oil, heating oil and unleaded gas.
The one I follow the most, as I feel it is suitable for day trading is Crude oil. I have shared many of my observations about trading crude on this blog before. Today I want to talk specifically about the report.
Two main ways in my opinion to trade the report:
Below you will see 10 seconds chart for last Wednesday to give somewhat of an example, followed by the 15 minute chart below.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for Trade Date of 8.24.2016
| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2203.83 | 4863.75 | 18704 | 1267.30 | 95.03 |
| Resistance 2 | 2197.67 | 4850.25 | 18660 | 1259.10 | 94.80 |
| Resistance 1 | 2191.58 | 4834.75 | 18595 | 1253.10 | 94.66 |
| Pivot | 2185.42 | 4821.25 | 18551 | 1244.90 | 94.43 |
| Support 1 | 2179.33 | 4805.75 | 18486 | 1238.90 | 94.29 |
| Support 2 | 2173.17 | 4792.25 | 18442 | 1230.70 | 94.06 |
| Support 3 | 2167.08 | 4776.75 | 18377 | 1224.70 | 93.92 |
| Contract | Dec. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1357.8 | 19.26 | 50.39 | 174 | 1.1402 |
| Resistance 2 | 1353.3 | 19.18 | 49.35 | 173 16/32 | 1.1384 |
| Resistance 1 | 1347.9 | 19.00 | 48.66 | 173 1/32 | 1.1350 |
| Pivot | 1343.4 | 18.92 | 47.62 | 172 17/32 | 1.1333 |
| Support 1 | 1338.0 | 18.74 | 46.93 | 172 2/32 | 1.1299 |
| Support 2 | 1333.5 | 18.66 | 45.89 | 171 18/32 | 1.1281 |
| Support 3 | 1328.1 | 18.48 | 45.20 | 171 3/32 | 1.1247 |
| Contract | Dec. Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 343.7 | 437.3 | 1028.25 | 337.00 | 2.91 |
| Resistance 2 | 341.6 | 435.2 | 1022.50 | 334.30 | 2.84 |
| Resistance 1 | 339.4 | 431.3 | 1018.00 | 331.40 | 2.80 |
| Pivot | 337.3 | 429.2 | 1012.25 | 328.70 | 2.73 |
| Support 1 | 335.2 | 425.3 | 1007.8 | 325.8 | 2.7 |
| Support 2 | 333.1 | 423.2 | 1002.00 | 323.10 | 2.61 |
| Support 3 | 330.9 | 419.3 | 997.50 | 320.20 | 2.57 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:13pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedAug 24 | 2:00am | EUR |
German Final GDP q/q
|
0.3% | 0.4% | ||||
| 4:30am | GBP |
BBA Mortgage Approvals
|
38.5K | 40.1K | |||||
| 9:00am | EUR |
Belgian NBB Business Climate
|
1.1 | 1.0 | |||||
| USD |
HPI m/m
|
0.3% | 0.2% | ||||||
| 10:00am | USD |
Existing Home Sales
|
5.55M | 5.57M | |||||
| 10:30am | USD |
Crude Oil Inventories
|
-0.7M | -2.5M |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday August 09, 2016
Hello Traders,
Summer trading at its best….8 points range on the Mini SP 500 during the primary session…As a trader, that can be pretty depressing. Few things you can do when stock index futures are “dead”:
In between, feel free to reach out to us here at Cannon with any questions, feedback and comments and let us know how we can help you achieve your goals!
Here is some good reading material for when the market is slow:
https://www.cannontrading.com/community/futures-market-ranking-30-market-events
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Levels for 8.09.2016
| Contract Sept. 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2191.17 | 4831.92 | 18575 | 1240.77 | 96.80 |
| Resistance 2 | 2187.08 | 4816.33 | 18541 | 1237.53 | 96.61 |
| Resistance 1 | 2181.42 | 4797.42 | 18503 | 1232.67 | 96.47 |
| Pivot | 2177.33 | 4781.83 | 18469 | 1229.43 | 96.28 |
| Support 1 | 2171.67 | 4762.92 | 18431 | 1224.57 | 96.14 |
| Support 2 | 2167.58 | 4747.33 | 18397 | 1221.33 | 95.95 |
| Support 3 | 2161.92 | 4728.42 | 18359 | 1216.47 | 95.81 |
| Contract | Aug. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1353.4 | 20.30 | 45.15 | 173 10/32 | 1.1153 |
| Resistance 2 | 1348.6 | 20.10 | 44.27 | 172 19/32 | 1.1138 |
| Resistance 1 | 1344.8 | 19.93 | 43.57 | 172 3/32 | 1.1120 |
| Pivot | 1340.0 | 19.72 | 42.69 | 171 12/32 | 1.1105 |
| Support 1 | 1336.2 | 19.55 | 41.99 | 170 28/32 | 1.1087 |
| Support 2 | 1331.4 | 19.35 | 41.11 | 170 5/32 | 1.1072 |
| Support 3 | 1327.6 | 19.18 | 40.41 | 169 21/32 | 1.1054 |
| Contract | Dec. Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 342.8 | 435.2 | 1006.00 | 347.93 | 2.83 |
| Resistance 2 | 339.9 | 429.3 | 996.00 | 342.47 | 2.79 |
| Resistance 1 | 337.3 | 423.2 | 990.50 | 337.43 | 2.77 |
| Pivot | 334.4 | 417.3 | 980.50 | 331.97 | 2.74 |
| Support 1 | 331.8 | 411.2 | 975.0 | 326.9 | 2.7 |
| Support 2 | 328.9 | 405.3 | 965.00 | 321.47 | 2.68 |
| Support 3 | 326.3 | 399.2 | 959.50 | 316.43 | 2.66 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:15pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueAug 9 | 2:00am | EUR |
German Trade Balance
|
23.2B | 22.2B | ||||
| 2:45am | EUR |
French Gov Budget Balance
|
-65.7B | ||||||
| 4:30am | GBP |
Manufacturing Production m/m
|
0.0% | -0.5% | |||||
| GBP |
Goods Trade Balance
|
-9.6B | -9.9B | ||||||
| GBP |
Industrial Production m/m
|
-0.1% | -0.5% | ||||||
| 6:00am | USD |
NFIB Small Business Index
|
94.5 | 94.5 | |||||
| 8:30am | USD |
Prelim Nonfarm Productivity q/q
|
0.5% | -0.6% | |||||
| USD |
Prelim Unit Labor Costs q/q
|
1.8% | 4.5% | ||||||
| 10:00am | GBP |
NIESR GDP Estimate
|
0.6% | ||||||
| USD |
IBD/TIPP Economic Optimism
|
46.2 | 45.5 | ||||||
| USD |
Wholesale Inventories m/m
|
0.0% | 0.1% |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday June 08, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Voted #1 futures trading blog!
Crude Oil numbers tomorrow morning. As of lately it has been one of the more followed reports by all markets…..
I wrote this piece about day trading crude oil futures a couple of years ago and it is still very valid in my opinion:
Trading 102: Day Trading Using fear and greed ( using Crude Oil futures as an example)
Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures markets for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when the first notice day and last trading day for crude oil futures are, in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into a delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013 ( I wrote this one a while back but the examples and logic are still very current!) , crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the EIA (Energy Information Administration) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time…
Read the rest of the article along with chart examples, specific trade set ups and other trading tips which can be applied to many markets not just the crude oil market
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2128.83 | 4570.00 | 18072 | 1194.33 | 94.38 |
| Resistance 2 | 2123.42 | 4557.75 | 18033 | 1188.97 | 94.23 |
| Resistance 1 | 2117.33 | 4535.75 | 17982 | 1183.93 | 94.05 |
| Pivot | 2111.92 | 4523.50 | 17943 | 1178.57 | 93.90 |
| Support 1 | 2105.83 | 4501.50 | 17892 | 1173.53 | 93.72 |
| Support 2 | 2100.42 | 4489.25 | 17853 | 1168.17 | 93.57 |
| Support 3 | 2094.33 | 4467.25 | 17802 | 1163.13 | 93.39 |
| Contract | Aug. Gold | July Silver | July Crude Oil | Sept. Bonds | June Euro |
| Resistance 3 | 1263.3 | 16.76 | 51.95 | 167 8/32 | 1.1424 |
| Resistance 2 | 1256.2 | 16.62 | 51.24 | 166 31/32 | 1.1403 |
| Resistance 1 | 1251.2 | 16.51 | 50.86 | 166 22/32 | 1.1382 |
| Pivot | 1244.1 | 16.38 | 50.15 | 166 13/32 | 1.1361 |
| Support 1 | 1239.1 | 16.27 | 49.77 | 166 4/32 | 1.1340 |
| Support 2 | 1232.0 | 16.13 | 49.06 | 165 27/32 | 1.1319 |
| Support 3 | 1227.0 | 16.02 | 48.68 | 165 18/32 | 1.1298 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July Nat Gas |
| Resistance 3 | 435.2 | 522.8 | 1170.08 | 427.57 | 2.59 |
| Resistance 2 | 431.6 | 518.2 | 1159.42 | 421.53 | 2.54 |
| Resistance 1 | 429.7 | 513.6 | 1150.33 | 414.67 | 2.51 |
| Pivot | 426.1 | 508.9 | 1139.67 | 408.63 | 2.46 |
| Support 1 | 424.2 | 504.3 | 1130.6 | 401.8 | 2.4 |
| Support 2 | 420.6 | 499.7 | 1119.92 | 395.73 | 2.38 |
| Support 3 | 418.7 | 495.1 | 1110.83 | 388.87 | 2.35 |
Economic Reports
| Date | 4:00pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJun 8 | 4:30am | GBP |
Manufacturing Production m/m
|
0.0% | 0.1% | ||||
| GBP |
Industrial Production m/m
|
0.0% | 0.3% | ||||||
| 10:00am | GBP |
NIESR GDP Estimate
|
0.3% | ||||||
| USD |
JOLTS Job Openings
|
5.67M | 5.76M | ||||||
| 10:30am | USD |
Crude Oil Inventories
|
-3.2M | -1.4M | |||||
| 1:01pm | USD |
10-y Bond Auction
|
1.71|2.7 | ||||||
| 7:01pm | GBP |
RICS House Price Balance
|
36% | 41% |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday March 9, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
Crude Oil inventories tomorrow at 10:30 AM EST, like almost every Wednesday. On weeks when we have long weekends, the report will come out Thursday.
below you will see 1 minute chart from the last two reports, as they say, picture is worth a 1000 words….
Wednesday March 2nd 2016
Crude Oil Heikin-Ashi Charts March 2nd 2016
Wednesday Feb. 24th 2016
Crude Oil Heikin-Ashi Charts Feb, 24th 2016
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GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
| Contract March 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2019.58 | 4359.75 | 17213 | 1112.93 | 97.74 |
| Resistance 2 | 2009.92 | 4334.25 | 17138 | 1102.87 | 97.51 |
| Resistance 1 | 1995.33 | 4302.50 | 17057 | 1085.63 | 97.36 |
| Pivot | 1985.67 | 4277.00 | 16982 | 1075.57 | 97.13 |
| Support 1 | 1971.08 | 4245.25 | 16901 | 1058.33 | 96.97 |
| Support 2 | 1961.42 | 4219.75 | 16826 | 1048.27 | 96.74 |
| Support 3 | 1946.83 | 4188.00 | 16745 | 1031.03 | 96.59 |
| Contract | Apr. Gold | May Silver | Apr. Crude Oil | June Bonds | March Euro |
| Resistance 3 | 1291.7 | 16.05 | 39.88 | 165 30/32 | 1.1113 |
| Resistance 2 | 1285.3 | 15.91 | 39.14 | 165 13/32 | 1.1087 |
| Resistance 1 | 1273.7 | 15.65 | 37.70 | 164 21/32 | 1.1047 |
| Pivot | 1267.3 | 15.50 | 36.96 | 164 4/32 | 1.1021 |
| Support 1 | 1255.7 | 15.24 | 35.52 | 163 12/32 | 1.0981 |
| Support 2 | 1249.3 | 15.10 | 34.78 | 162 27/32 | 1.0955 |
| Support 3 | 1237.7 | 14.84 | 33.34 | 162 3/32 | 1.0915 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 369.8 | 477.1 | 896.25 | 279.27 | 1.81 |
| Resistance 2 | 366.2 | 471.4 | 890.50 | 276.33 | 1.77 |
| Resistance 1 | 363.3 | 468.3 | 887.50 | 274.57 | 1.75 |
| Pivot | 359.7 | 462.7 | 881.75 | 271.63 | 1.71 |
| Support 1 | 356.8 | 459.6 | 878.8 | 269.9 | 1.7 |
| Support 2 | 353.2 | 453.9 | 873.00 | 266.93 | 1.65 |
| Support 3 | 350.3 | 450.8 | 870.00 | 265.17 | 1.62 |
| Date | 3:52pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMar 9 | 4:30am | GBP | Manufacturing Production m/m | 0.2% | -0.2% | ||||
| GBP | Industrial Production m/m | 0.6% | -1.1% | ||||||
| 10:00am | GBP | NIESR GDP Estimate | 0.4% | ||||||
| USD | Wholesale Inventories m/m | -0.2% | -0.1% | ||||||
| 10:30am | USD | Crude Oil Inventories | 10.4M | ||||||
| 1:01pm | USD | 10-y Bond Auction | 1.73|2.6 | ||||||
| 7:01pm | GBP | RICS House Price Balance | 52% | 49% |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday February 26, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
Trade management is more important than Market Analysis….
Trading 201: Day Trading Crude Oil futures
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time…
TRADE SMART / TRADE SYSTEMS — for the current rankings as well as actual performance of trading systems traded at Striker, click here.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
| Contract March 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1983.08 | 4313.58 | 16992 | 1046.77 | 98.18 |
| Resistance 2 | 1965.17 | 4272.67 | 16822 | 1038.13 | 97.96 |
| Resistance 1 | 1956.08 | 4252.08 | 16736 | 1033.77 | 97.67 |
| Pivot | 1938.17 | 4211.17 | 16566 | 1025.13 | 97.45 |
| Support 1 | 1929.08 | 4190.58 | 16480 | 1020.77 | 97.16 |
| Support 2 | 1911.17 | 4149.67 | 16310 | 1012.13 | 96.94 |
| Support 3 | 1902.08 | 4129.08 | 16224 | 1007.77 | 96.65 |
| Contract | Apr. Gold | March Silver | Apr. Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1269.0 | 15.65 | 36.42 | 169 22/32 | 1.1124 |
| Resistance 2 | 1256.7 | 15.51 | 34.95 | 168 26/32 | 1.1089 |
| Resistance 1 | 1246.4 | 15.35 | 34.00 | 168 | 1.1061 |
| Pivot | 1234.1 | 15.21 | 32.53 | 167 4/32 | 1.1026 |
| Support 1 | 1223.8 | 15.05 | 31.58 | 166 10/32 | 1.0998 |
| Support 2 | 1211.5 | 14.91 | 30.11 | 165 14/32 | 1.0963 |
| Support 3 | 1201.2 | 14.75 | 29.16 | 164 20/32 | 1.0935 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 371.2 | 463.3 | 882.42 | 267.63 | 1.92 |
| Resistance 2 | 368.8 | 459.7 | 878.83 | 266.57 | 1.88 |
| Resistance 1 | 364.7 | 456.8 | 872.17 | 264.63 | 1.83 |
| Pivot | 362.3 | 453.2 | 868.58 | 263.57 | 1.79 |
| Support 1 | 358.2 | 450.3 | 861.9 | 261.6 | 1.7 |
| Support 2 | 355.8 | 446.7 | 858.33 | 260.57 | 1.70 |
| Support 3 | 351.7 | 443.8 | 851.67 | 258.63 | 1.65 |
| Date | 4:04pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriFeb 26 | All Day | EUR | German Prelim CPI m/m | 0.6% | -0.8% | ||||
| 2:45am | EUR | French Consumer Spending m/m | 0.6% | 0.7% | |||||
| EUR | French Prelim CPI m/m | 0.4% | -1.0% | ||||||
| 3:00am | EUR | Spanish Flash CPI y/y | -0.5% | -0.3% | |||||
| Day 1 | ALL | G20 Meetings | |||||||
| Tentative | EUR | Italian 10-y Bond Auction | 1.44|1.4 | ||||||
| 8:30am | USD | Prelim GDP q/q | 0.4% | 0.7% | |||||
| USD | Core PCE Price Index m/m | 0.1% | 0.0% | ||||||
| USD | Goods Trade Balance | -61.1B | -61.5B | ||||||
| USD | Personal Spending m/m | 0.3% | 0.0% | ||||||
| USD | Personal Income m/m | 0.4% | 0.3% | ||||||
| USD | Prelim GDP Price Index q/q | 0.8% | 0.8% | ||||||
| 10:00am | USD | Revised UoM Consumer Sentiment | 91.1 | 90.7 | |||||
| USD | Revised UoM Inflation Expectations | 2.5% | |||||||
| 10:15am | USD | FOMC Member Powell Speaks | |||||||
| 1:30pm | USD | FOMC Member Brainard Speaks |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday February 17, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
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GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
| Contract March 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1954.83 | 4261.50 | 16736 | 1026.63 | 98.07 |
| Resistance 2 | 1946.42 | 4239.00 | 16655 | 1022.67 | 97.83 |
| Resistance 1 | 1932.58 | 4202.00 | 16534 | 1016.73 | 97.64 |
| Pivot | 1924.17 | 4179.50 | 16453 | 1012.77 | 97.40 |
| Support 1 | 1910.33 | 4142.50 | 16332 | 1006.83 | 97.21 |
| Support 2 | 1901.92 | 4120.00 | 16251 | 1002.87 | 96.97 |
| Support 3 | 1888.08 | 4083.00 | 16130 | 996.93 | 96.78 |
| Contract | Apr. Gold | March Silver | Apr. Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1254.7 | 15.49 | 34.94 | 170 19/32 | 1.1118 |
| Resistance 2 | 1241.8 | 15.41 | 34.23 | 169 | 1.1088 |
| Resistance 1 | 1233.4 | 15.34 | 33.04 | 167 30/32 | 1.1055 |
| Pivot | 1220.5 | 15.26 | 32.33 | 166 11/32 | 1.1025 |
| Support 1 | 1212.1 | 15.19 | 31.14 | 165 9/32 | 1.0992 |
| Support 2 | 1199.2 | 15.11 | 30.43 | 163 22/32 | 1.0962 |
| Support 3 | 1190.8 | 15.04 | 29.24 | 162 20/32 | 1.0929 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | March Nat Gas |
| Resistance 3 | 371.4 | 466.8 | 884.25 | 268.00 | 1.91 |
| Resistance 2 | 369.3 | 463.0 | 880.75 | 266.40 | 1.88 |
| Resistance 1 | 365.7 | 455.5 | 875.00 | 264.80 | 1.83 |
| Pivot | 363.6 | 451.8 | 871.50 | 263.20 | 1.80 |
| Support 1 | 359.9 | 444.3 | 865.8 | 261.6 | 1.8 |
| Support 2 | 357.8 | 440.5 | 862.25 | 260.00 | 1.73 |
| Support 3 | 354.2 | 433.0 | 856.50 | 258.40 | 1.68 |
| WedFeb 24 | Tentative | EUR | German 30-y Bond Auction | 1.18|1.2 | ||||
| 9:45am | USD | Flash Services PMI | 53.4 | 53.2 | ||||
| 10:00am | USD | New Home Sales | 522K | 544K | ||||
| 10:30am | USD | Crude Oil Inventories | 2.0M | 2.1M | ||||
| 7:00pm | USD | FOMC Member Bullard Speaks |
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday October 21, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Front month for Crude Oil futures is now December!!
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GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract Dec. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2043.50 | 4493.17 | 17301 | 1178.63 | 95.42 |
| Resistance 2 | 2037.50 | 4474.58 | 17235 | 1172.97 | 95.20 |
| Resistance 1 | 2030.50 | 4451.17 | 17179 | 1165.83 | 95.06 |
| Pivot | 2024.50 | 4432.58 | 17113 | 1160.17 | 94.85 |
| Support 1 | 2017.50 | 4409.17 | 17057 | 1153.03 | 94.71 |
| Support 2 | 2011.50 | 4390.58 | 16991 | 1147.37 | 94.49 |
| Support 3 | 2004.50 | 4367.17 | 16935 | 1140.23 | 94.35 |
| Contract | Dec. Gold | Dec. Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1197.1 | 16.22 | 48.00 | 159 26/32 | 1.1450 |
| Resistance 2 | 1189.3 | 16.09 | 47.46 | 159 8/32 | 1.1423 |
| Resistance 1 | 1182.9 | 15.99 | 46.79 | 158 8/32 | 1.1386 |
| Pivot | 1175.1 | 15.87 | 46.25 | 157 22/32 | 1.1359 |
| Support 1 | 1168.7 | 15.77 | 45.58 | 156 22/32 | 1.1322 |
| Support 2 | 1160.9 | 15.64 | 45.04 | 156 4/32 | 1.1295 |
| Support 3 | 1154.5 | 15.54 | 44.37 | 155 4/32 | 1.1258 |
| Contract | Dec. Corn | Dec. Wheat | Nov Beans | Dec. SoyMeal | Nov. Nat Gas |
| Resistance 3 | 384.8 | 501.9 | 910.58 | 318.40 | 2.56 |
| Resistance 2 | 381.3 | 496.6 | 906.17 | 316.50 | 2.53 |
| Resistance 1 | 379.0 | 493.9 | 901.08 | 313.00 | 2.51 |
| Pivot | 375.5 | 488.6 | 896.67 | 311.10 | 2.48 |
| Support 1 | 373.3 | 485.9 | 891.6 | 307.6 | 2.5 |
| Support 2 | 369.8 | 480.6 | 887.17 | 305.70 | 2.42 |
| Support 3 | 367.5 | 477.9 | 882.08 | 302.20 | 2.40 |
| Date | 4:03pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedOct 21 | 10:30am | USD | Crude Oil Inventories | 7.6M | |||||
| 1:30pm | USD | FOMC Member Powell Speaks |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday July 31, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Elliott Wave International’s Chief Energy Analyst tells you what he sees next for crude
In this new interview, Steve Craig, editor of Elliott Wave International’s Energy Pro Service, shows you what extreme readings in some of his market indicators mean for crude from here. Watch this interview now for a unique take on this key energy market.
Did you know Cannon offers FOREX trading including the MT4 platform?
Did you know that Cannon offers trading systems on auto trade basis including iSystems?
Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gains. If you need help creating a trading plan, visit our broker assist services.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract Sept. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2124.17 | 4643.58 | 17824 | 1255.93 | 97.56 |
| Resistance 2 | 2106.58 | 4602.42 | 17697 | 1239.87 | 97.32 |
| Resistance 1 | 2096.67 | 4579.33 | 17624 | 1230.83 | 97.04 |
| Pivot | 2079.08 | 4538.17 | 17497 | 1214.77 | 96.80 |
| Support 1 | 2069.17 | 4515.08 | 17424 | 1205.73 | 96.52 |
| Support 2 | 2051.58 | 4473.92 | 17297 | 1189.67 | 96.28 |
| Support 3 | 2041.67 | 4450.83 | 17224 | 1180.63 | 96.00 |
| Contract | Aug. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1105.9 | 14.87 | 50.29 | 156 13/32 | 1.1181 |
| Resistance 2 | 1102.0 | 14.77 | 49.37 | 155 29/32 | 1.1143 |
| Resistance 1 | 1098.4 | 14.70 | 48.53 | 155 11/32 | 1.1104 |
| Pivot | 1094.5 | 14.61 | 47.61 | 154 27/32 | 1.1066 |
| Support 1 | 1090.9 | 14.54 | 46.77 | 154 9/32 | 1.1027 |
| Support 2 | 1087.0 | 14.44 | 45.85 | 153 25/32 | 1.0989 |
| Support 3 | 1083.4 | 14.37 | 45.01 | 153 7/32 | 1.0950 |
| Contract | Dec. Corn | Sept. Wheat | Nov Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 393.8 | 522.8 | 961.42 | 331.43 | 2.92 |
| Resistance 2 | 390.0 | 516.8 | 955.08 | 328.57 | 2.88 |
| Resistance 1 | 387.8 | 513.8 | 949.92 | 326.13 | 2.85 |
| Pivot | 384.0 | 507.8 | 943.58 | 323.27 | 2.81 |
| Support 1 | 381.8 | 504.8 | 938.4 | 320.8 | 2.8 |
| Support 2 | 378.0 | 498.8 | 932.08 | 317.97 | 2.74 |
| Support 3 | 375.8 | 495.8 | 926.92 | 315.53 | 2.71 |
| Date | 4:14pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriJul 31 | 2:00am | EUR | German Retail Sales m/m | 0.3% | 0.5% | ||||
| 2:45am | EUR | French Consumer Spending m/m | 0.7% | 0.1% | |||||
| 4:00am | EUR | Italian Monthly Unemployment Rate | 12.3% | 12.4% | |||||
| 5:00am | EUR | CPI Flash Estimate y/y | 0.2% | 0.2% | |||||
| EUR | Core CPI Flash Estimate y/y | 0.8% | 0.8% | ||||||
| EUR | Unemployment Rate | 11.0% | 11.1% | ||||||
| EUR | Italian Prelim CPI m/m | 0.0% | 0.1% | ||||||
| 8:30am | USD | Employment Cost Index q/q | 0.6% | 0.7% | |||||
| 9:45am | USD | Chicago PMI | 50.7 | 49.4 | |||||
| 10:00am | USD | Revised UoM Consumer Sentiment | 94.2 | 93.3 | |||||
| USD | Revised UoM Inflation Expectations | 2.8% |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday May 29, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Time sure does tick a bit different in the commodities and futures world….
Some traders know time has passed quickly when it is time to change to the Sept. contract versus the June contract ( like we are doing with BONDS right now), others may notice it when they think “wow, monthly unemployment is next Friday, time sure flies…” and still other traders, perhaps professionals and money managers notice it when one month ends and another starts and it is time to share monthly results with their clients…..
Either way you look at it, hope June will be a great trading month!
Today I want to share a couple of market behaviors with you, I have noticed in the past.
The first is US Bonds trading behavior on the last trading day of the month on the last 15 minutes of the old pit session, i.e. 13:45 to 14:00 central time.
While I did not spend any time trying to predict the direction of the move, I seen it many times, the bonds will make a 10-15 ticks ( 15 tick in bonds = $500 per contract) move during the last 15 minutes as large traders position themselves ahead of months close.
Below is a 1 minute chart of Bonds from last month ( last trading day, April 30th)….notice the large move and range during the last 15 minutes ( over $750 per contract either for you or against you)….if you go back to the last trading day of the month, you will notice this pattern more often than not. Of course, I leave the important work to you…and that is which way and how can one try to take advantage of it….Main point is that you are now aware of this ahead of tomorrow which is the last trading day of the month for May 2015.
Custom USA – 30 yr US Treasury Bonds (Globex), Equalized Active 1 Min Continuation
The second pattern for you to investigate if interested is the behavior of crude oil futures during the last 10 minutes of , again, the old pit session which is 13:20 to 13:30 central time.
My back testing suggests there is better chances for this market to go up during these last 10-15 minutes but I would not use this as your only ingredient in the trading equation. I myself use it as follows: If my system was short and holds a short position, I would exit it at 11:20 pacific ( 13:20 central) and if my position was long I will hold it until 11:30 pacific/ 13:30 central. So while I don’t use my research to enter trades, I do use it to determine the time for my MOC ( market on close) of my trading system.
Here is a tick chart where I marked the last 13 minutes of the “old pit session” closing times. Notice how the last 10-15 minutes had as big as of a trading range as almost the whole trading day!!
CLE – Crude Light(Globex), Equalized Active Continuation:Range Bar, 18 Tick Units
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2134.42 | 4572.83 | 18253 | 1267.80 | 98.36 |
| Resistance 2 | 2128.08 | 4560.17 | 18200 | 1261.00 | 98.06 |
| Resistance 1 | 2123.17 | 4547.08 | 18157 | 1256.50 | 97.61 |
| Pivot | 2116.83 | 4534.42 | 18104 | 1249.70 | 97.31 |
| Support 1 | 2111.92 | 4521.33 | 18061 | 1245.20 | 96.86 |
| Support 2 | 2105.58 | 4508.67 | 18008 | 1238.40 | 96.56 |
| Support 3 | 2100.67 | 4495.58 | 17965 | 1233.90 | 96.11 |
| Contract | Aug. Gold | July Silver | July Crude Oil | Sept. Bonds | June Euro |
| Resistance 3 | 1206.9 | 17.03 | 59.96 | 156 8/32 | 1.1075 |
| Resistance 2 | 1199.8 | 16.90 | 59.00 | 155 27/32 | 1.1018 |
| Resistance 1 | 1194.3 | 16.79 | 58.43 | 155 9/32 | 1.0982 |
| Pivot | 1187.2 | 16.67 | 57.47 | 154 28/32 | 1.0925 |
| Support 1 | 1181.7 | 16.56 | 56.90 | 154 10/32 | 1.0889 |
| Support 2 | 1174.6 | 16.43 | 55.94 | 153 29/32 | 1.0832 |
| Support 3 | 1169.1 | 16.32 | 55.37 | 153 11/32 | 1.0796 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July Nat Gas |
| Resistance 3 | 361.9 | 491.8 | 935.33 | 318.47 | 2.95 |
| Resistance 2 | 358.3 | 490.3 | 932.67 | 314.93 | 2.90 |
| Resistance 1 | 355.9 | 489.5 | 929.33 | 309.87 | 2.81 |
| Pivot | 352.3 | 488.0 | 926.67 | 306.33 | 2.75 |
| Support 1 | 349.9 | 487.3 | 923.3 | 301.3 | 2.7 |
| Support 2 | 346.3 | 485.8 | 920.67 | 297.73 | 2.61 |
| Support 3 | 343.9 | 485.0 | 917.33 | 292.67 | 2.52 |
| Date | 4:02pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMay 29 | 2:00am | EUR | German Retail Sales m/m | 1.1% | -2.3% | ||||
| 2:45am | EUR | French Consumer Spending m/m | 0.4% | -0.6% | |||||
| 3:00am | EUR | Spanish Flash CPI y/y | -0.5% | -0.6% | |||||
| 4:00am | EUR | M3 Money Supply y/y | 4.9% | 4.6% | |||||
| EUR | Private Loans y/y | 0.4% | 0.1% | ||||||
| 5:00am | EUR | Italian Prelim CPI m/m | 0.1% | 0.3% | |||||
| Day 3 | ALL | G7 Meetings | |||||||
| 8:30am | USD | Prelim GDP q/q | -0.8% | 0.2% | |||||
| USD | Prelim GDP Price Index q/q | -0.1% | -0.1% | ||||||
| 9:45am | USD | Chicago PMI | 53.1 | 52.3 | |||||
| 10:00am | USD | Revised UoM Consumer Sentiment | 90.0 | 88.6 | |||||
| USD | Revised UoM Inflation Expectations | 2.9% |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday May 27, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Some what of a sell off today although the market bounced pretty good of the lows before the close.
Volume has been very low this past 2 months. take a look at the chart below and see how volume has been consistently below its 12 day moving average since mid March.
I must admit indices have been hard to trade, at least for me personally. I have been having more luck with bonds and Crude oil than the mini SP and mini Russell. I hope that volume and volatility like today will return sooner than later to stock index futures.
Daily Heiken-Ashi chart of the mini SP below for your review along with potential targets above and below:
EP – E-Mini S&P 500, Equalized Active Daily Continuation:Heikin-Ashi
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2153.33 | 4609.17 | 18501 | 1273.57 | 98.68 |
| Resistance 2 | 2140.17 | 4573.83 | 18378 | 1263.33 | 98.08 |
| Resistance 1 | 2122.33 | 4525.67 | 18211 | 1250.57 | 97.74 |
| Pivot | 2109.17 | 4490.33 | 18088 | 1240.33 | 97.14 |
| Support 1 | 2091.33 | 4442.17 | 17921 | 1227.57 | 96.80 |
| Support 2 | 2078.17 | 4406.83 | 17798 | 1217.33 | 96.20 |
| Support 3 | 2060.33 | 4358.67 | 17631 | 1204.57 | 95.86 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1225.1 | 17.59 | 62.30 | 159 3/32 | 1.1120 |
| Resistance 2 | 1216.7 | 17.38 | 61.28 | 157 23/32 | 1.1066 |
| Resistance 1 | 1201.7 | 17.05 | 59.76 | 156 31/32 | 1.0973 |
| Pivot | 1193.3 | 16.85 | 58.74 | 155 19/32 | 1.0919 |
| Support 1 | 1178.3 | 16.52 | 57.22 | 154 27/32 | 1.0826 |
| Support 2 | 1169.9 | 16.31 | 56.20 | 153 15/32 | 1.0772 |
| Support 3 | 1154.9 | 15.98 | 54.68 | 152 23/32 | 1.0679 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 361.5 | 516.6 | 935.00 | 312.50 | 3.00 |
| Resistance 2 | 360.0 | 511.7 | 932.00 | 310.30 | 2.95 |
| Resistance 1 | 357.5 | 502.6 | 927.25 | 306.10 | 2.90 |
| Pivot | 356.0 | 497.7 | 924.25 | 303.90 | 2.86 |
| Support 1 | 353.5 | 488.6 | 919.5 | 299.7 | 2.8 |
| Support 2 | 352.0 | 483.7 | 916.50 | 297.50 | 2.77 |
| Support 3 | 349.5 | 474.6 | 911.75 | 293.30 | 2.71 |
| Date | 4:15pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMay 27 | 2:00am | EUR | GfK German Consumer Climate | 10.0 | 10.1 | ||||
| Day 1 | ALL | G7 Meetings | |||||||
| Tentative | EUR | German 30-y Bond Auction | 1.07|1.3 | ||||||
| 9:00am | EUR | Belgian NBB Business Climate | -5.7 | -6.2 |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday April 23, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
I wrote before on how certain markets experience big moves on certain reports. One of the obvious ones is the crude oil inventories, weekly report, Wednesday at 7:30 AM pacific time. There are many others and tomorrow e have a few coming.
One of the reports today was existing home sales at 7 AM pacific. The market expected/ forecast was for 5.04 mil home sales, the actual number came out at 5.19 mil sales. The result was continued sell off in bonds and a strong trend day lower.
I am sharing with you my intraday 15 minute bond chart from today along with two sell signals that took place about an hour before the report. See below if you like a free trial.
Custom USA – 30yr US Treasury Bonds(Globex), Equalized Active 15 min Continuation
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 OR CQG Q trader. The trial comes with a 23 page PDF booklet which explains the concepts, risks and methodology in more details.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2132.58 | 4532.33 | 18226 | 1283.63 | 99.26 |
| Resistance 2 | 2118.17 | 4495.92 | 18101 | 1274.07 | 98.81 |
| Resistance 1 | 2109.08 | 4471.33 | 18024 | 1268.23 | 98.53 |
| Pivot | 2094.67 | 4434.92 | 17899 | 1258.67 | 98.07 |
| Support 1 | 2085.58 | 4410.33 | 17822 | 1252.83 | 97.79 |
| Support 2 | 2071.17 | 4373.92 | 17697 | 1243.27 | 97.34 |
| Support 3 | 2062.08 | 4349.33 | 17620 | 1237.43 | 97.06 |
| Contract | June Gold | May Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1218.1 | 16.42 | 58.54 | 165 23/32 | 1.0882 |
| Resistance 2 | 1211.3 | 16.25 | 57.86 | 164 26/32 | 1.0846 |
| Resistance 1 | 1198.7 | 16.00 | 57.08 | 163 1/32 | 1.0789 |
| Pivot | 1191.9 | 15.83 | 56.40 | 162 4/32 | 1.0753 |
| Support 1 | 1179.3 | 15.58 | 55.62 | 160 11/32 | 1.0696 |
| Support 2 | 1172.5 | 15.41 | 54.94 | 159 14/32 | 1.0660 |
| Support 3 | 1159.9 | 15.16 | 54.16 | 157 21/32 | 1.0603 |
| Contract | May Corn | July Wheat | July Beans | July SoyMeal | May Nat Gas |
| Resistance 3 | 378.2 | 499.0 | 982.83 | 321.43 | 2.70 |
| Resistance 2 | 375.8 | 499.0 | 978.42 | 319.17 | 2.66 |
| Resistance 1 | 374.2 | 499.0 | 975.08 | 317.33 | 2.63 |
| Pivot | 371.8 | 499.0 | 970.67 | 315.07 | 2.59 |
| Support 1 | 370.2 | 499.0 | 967.3 | 313.2 | 2.6 |
| Support 2 | 367.8 | 499.0 | 962.92 | 310.97 | 2.52 |
| Support 3 | 366.2 | 499.0 | 959.58 | 309.13 | 2.49 |
| Date | 4:03pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuApr 23 | 3:00am | EUR | French Flash Manufacturing PMI | 49.4 | 48.8 | ||||
| EUR | French Flash Services PMI | 52.5 | 52.4 | ||||||
| EUR | Spanish Unemployment Rate | 23.5% | 23.7% | ||||||
| 3:30am | EUR | German Flash Manufacturing PMI | 53.1 | 52.8 | |||||
| EUR | German Flash Services PMI | 55.6 | 55.4 | ||||||
| 4:00am | EUR | Flash Manufacturing PMI | 52.6 | 52.2 | |||||
| EUR | Flash Services PMI | 54.5 | 54.2 | ||||||
| 8:30am | USD | Unemployment Claims | 288K | 294K | |||||
| 9:45am | USD | Flash Manufacturing PMI | 55.6 | 55.7 | |||||
| 10:00am | USD | New Home Sales | 514K | 539K | |||||
| 10:30am | USD | Natural Gas Storage | 78B | 63B |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday April 22, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Many different ways to make and lose money trading futures, even more so when day trading.
Today’s action in crude oil futures led me to write about:
Three main approaches out there in my opinion.
The first is what I call the “trend is your friend”. A trader looks at few different time frames, looking to see if there is an established trend on longer time frame ( example 60 minutes chart) and then trying to look for pull back on lower time frames and “join the trend”. Only works for certain markets and only works few times of the month as most days markets do not have an intraday trend in my opinion.
Second method is what we call break out. Traders will look for markets that have been in a lower volatility situation using indicators such as ADX for example. Then they will look at the chart to find what they feel are levels that if broken can fuel a stronger move in the same direction. These levels can be extracted visually looking at the chart or using highs/ lows of X periods. This method works better on some markets than others. I noticed that crude oil and gold futures tend to have better chances of a continued breakout move than the mini SP 500 for example.
The third one many traders use and believe in is “mean aversion”. Stock index futures in my opinion will fall into this category many trading days. Market will test previous day’s highs and lows and will trade in between. Traders will sometimes use RSI or Williams %R to get a feel for when the market gets away from the mean and will use counter trend methods in this case. Use of stops when counter trend trading is even more important as you do NOT want to get caught on the few days a month when these markets do incur a break out situation…..
Obviously, all methods have good days, bad days and I guarantee you, none of these methods work all the time on all markets. Knowing the above and trying to understand what method should be the primary method for the market YOU trade and which can be used as secondary can help you while trading.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2119.58 | 4485.42 | 18239 | 1276.53 | 99.52 |
| Resistance 2 | 2112.42 | 4464.08 | 18155 | 1273.07 | 99.11 |
| Resistance 1 | 2101.58 | 4445.42 | 18015 | 1266.73 | 98.65 |
| Pivot | 2094.42 | 4424.08 | 17931 | 1263.27 | 98.24 |
| Support 1 | 2083.58 | 4405.42 | 17791 | 1256.93 | 97.78 |
| Support 2 | 2076.42 | 4384.08 | 17707 | 1253.47 | 97.37 |
| Support 3 | 2065.58 | 4365.42 | 17567 | 1247.13 | 96.91 |
| Contract | June Gold | May Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1217.2 | 16.44 | 59.66 | 165 29/32 | 1.0922 |
| Resistance 2 | 1210.5 | 16.30 | 58.86 | 165 11/32 | 1.0855 |
| Resistance 1 | 1206.0 | 16.14 | 57.72 | 164 12/32 | 1.0800 |
| Pivot | 1199.3 | 16.00 | 56.92 | 163 26/32 | 1.0733 |
| Support 1 | 1194.8 | 15.83 | 55.78 | 162 27/32 | 1.0678 |
| Support 2 | 1188.1 | 15.69 | 54.98 | 162 9/32 | 1.0611 |
| Support 3 | 1183.6 | 15.53 | 53.84 | 161 10/32 | 1.0556 |
| Contract | May Corn | July Wheat | July Beans | July SoyMeal | May Nat Gas |
| Resistance 3 | 376.8 | 507.3 | 979.58 | 322.77 | 2.67 |
| Resistance 2 | 375.5 | 505.4 | 977.42 | 320.53 | 2.63 |
| Resistance 1 | 374.3 | 502.8 | 976.33 | 318.17 | 2.60 |
| Pivot | 373.0 | 500.9 | 974.17 | 315.93 | 2.57 |
| Support 1 | 371.8 | 498.3 | 973.1 | 313.6 | 2.5 |
| Support 2 | 370.5 | 496.4 | 970.92 | 311.33 | 2.50 |
| Support 3 | 369.3 | 493.8 | 969.83 | 308.97 | 2.47 |
| Date | 4:10pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedApr 22 | 5:00am | EUR | Italian Retail Sales m/m | 0.1% | 0.1% | ||||
| 9:00am | USD | HPI m/m | 0.7% | 0.3% | |||||
| 10:00am | EUR | Consumer Confidence | -3 | -4 | |||||
| USD | Existing Home Sales | 5.04M | 4.88M | ||||||
| 10:30am | USD | Crude Oil Inventories | 2.2M | 1.3M |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday March 25, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
One of my favorite markets for day trading is crude oil. Actually not this month… it has taken way too much money out of my system… but normally it is. I like the fast action and some of the set ups both fear and greed present in this market.
Tomorrow is API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time.
Observe crude oil futures tomorrow during the time of report to get a feel.
If you never traded crude oil futures before, observe for a bit and try doing so in demo mode first.
I wrote an article about this topic, you can access at:
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2113.83 | 4488.00 | 18192 | 1271.37 | 98.95 |
| Resistance 2 | 2107.42 | 4474.50 | 18135 | 1268.03 | 98.31 |
| Resistance 1 | 2095.83 | 4451.25 | 18041 | 1264.27 | 97.86 |
| Pivot | 2089.42 | 4437.75 | 17984 | 1260.93 | 97.22 |
| Support 1 | 2077.83 | 4414.50 | 17890 | 1257.17 | 96.77 |
| Support 2 | 2071.42 | 4401.00 | 17833 | 1253.83 | 96.13 |
| Support 3 | 2059.83 | 4377.75 | 17739 | 1250.07 | 95.68 |
| Contract | Apr. Gold | May Silver | May Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1207.0 | 17.32 | 50.31 | 167 15/32 | 1.1154 |
| Resistance 2 | 1200.7 | 17.18 | 49.43 | 166 16/32 | 1.1098 |
| Resistance 1 | 1197.2 | 17.08 | 48.42 | 165 30/32 | 1.1016 |
| Pivot | 1190.9 | 16.94 | 47.54 | 164 31/32 | 1.0960 |
| Support 1 | 1187.4 | 16.85 | 46.53 | 164 13/32 | 1.0878 |
| Support 2 | 1181.1 | 16.71 | 45.65 | 163 14/32 | 1.0822 |
| Support 3 | 1177.6 | 16.61 | 44.64 | 162 28/32 | 1.0740 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 399.0 | 523.8 | 990.67 | 333.20 | 2.89 |
| Resistance 2 | 396.3 | 523.7 | 986.58 | 330.50 | 2.85 |
| Resistance 1 | 394.8 | 523.6 | 984.17 | 328.40 | 2.82 |
| Pivot | 392.0 | 523.4 | 980.08 | 325.70 | 2.78 |
| Support 1 | 390.5 | 523.3 | 977.7 | 323.6 | 2.7 |
| Support 2 | 387.8 | 523.2 | 973.58 | 320.90 | 2.70 |
| Support 3 | 386.3 | 523.1 | 971.17 | 318.80 | 2.67 |
| Date | 4:11pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMar 25 | 5:00am | EUR | German Ifo Business Climate | 107.4 | 106.8 | ||||
| 6:30am | USD | FOMC Member Evans Speaks | |||||||
| 8:30am | USD | Core Durable Goods Orders m/m | 0.3% | 0.0% | |||||
| USD | Durable Goods Orders m/m | 0.5% | 2.8% | ||||||
| 10:30am | USD | Crude Oil Inventories | 3.8M | 9.6M |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday February 5, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
The moves on crude oil wow…..
I wrote the following for www.Equities.com yesterday morning with thoughts and chart for review:
http://www.equities.com/editors-desk/stocks/energy/crude-oil-futures-at-crossroad
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract March 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2062.08 | 4287.17 | 17891 | 1205.97 | 95.46 |
| Resistance 2 | 2055.67 | 4265.08 | 17802 | 1201.93 | 94.98 |
| Resistance 1 | 2042.08 | 4235.42 | 17692 | 1193.97 | 94.73 |
| Pivot | 2035.67 | 4213.33 | 17603 | 1189.93 | 94.25 |
| Support 1 | 2022.08 | 4183.67 | 17493 | 1181.97 | 93.99 |
| Support 2 | 2015.67 | 4161.58 | 17404 | 1177.93 | 93.51 |
| Support 3 | 2002.08 | 4131.92 | 17294 | 1169.97 | 93.26 |
| Contract | Apr. Gold | Mar.Silver | March Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1291.8 | 18.12 | 56.01 | 152 7/32 | 1.1586 |
| Resistance 2 | 1282.5 | 17.90 | 54.28 | 151 6/32 | 1.1538 |
| Resistance 1 | 1275.4 | 17.62 | 51.40 | 150 20/32 | 1.1451 |
| Pivot | 1266.1 | 17.40 | 49.67 | 149 19/32 | 1.1403 |
| Support 1 | 1259.0 | 17.12 | 46.79 | 149 1/32 | 1.1316 |
| Support 2 | 1249.7 | 16.90 | 45.06 | 148 | 1.1268 |
| Support 3 | 1242.6 | 16.62 | 42.18 | 147 14/32 | 1.1181 |
| Contract | March Corn | March Wheat | March Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 388.3 | 512.7 | 984.67 | 353.60 | 31.14 |
| Resistance 2 | 386.2 | 512.3 | 981.33 | 348.50 | 31.00 |
| Resistance 1 | 384.8 | 511.7 | 976.67 | 340.60 | 30.80 |
| Pivot | 382.7 | 511.3 | 973.33 | 335.50 | 30.66 |
| Support 1 | 381.3 | 510.7 | 968.7 | 327.6 | 30.5 |
| Support 2 | 379.2 | 510.3 | 965.33 | 322.50 | 30.32 |
| Support 3 | 377.8 | 509.7 | 960.67 | 314.60 | 30.12 |
| Date | 4:27pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuFeb 5 | 2:00am | EUR | German Factory Orders m/m | 1.4% | -2.4% | ||||
| 4:10am | EUR | Retail PMI | 47.6 | ||||||
| 5:00am | EUR | EU Economic Forecasts | |||||||
| Tentative | EUR | French 10-y Bond Auction | 0.79|2.0 | ||||||
| 7:30am | USD | Challenger Job Cuts y/y | 6.6% | ||||||
| 8:30am | USD | Trade Balance | -38.0B | -39.0B | |||||
| USD | Unemployment Claims | 277K | 265K | ||||||
| USD | Prelim Nonfarm Productivity q/q | 0.9% | 2.3% | ||||||
| USD | Prelim Unit Labor Costs q/q | 1.1% | -1.0% | ||||||
| 10:30am | USD | Natural Gas Storage | -119B | -94B |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday February 4, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 100,000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours… but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time.
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract March 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2091.50 | 4296.75 | 18088 | 1230.60 | 96.20 |
| Resistance 2 | 2067.75 | 4259.75 | 17842 | 1213.10 | 95.56 |
| Resistance 1 | 2054.50 | 4239.75 | 17706 | 1203.20 | 94.66 |
| Pivot | 2030.75 | 4202.75 | 17460 | 1185.70 | 94.02 |
| Support 1 | 2017.50 | 4182.75 | 17324 | 1175.80 | 93.12 |
| Support 2 | 1993.75 | 4145.75 | 17078 | 1158.30 | 92.48 |
| Support 3 | 1980.50 | 4125.75 | 16942 | 1148.40 | 91.58 |
| Contract | Apr. Gold | Mar.Silver | March Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1310.9 | 18.35 | 59.11 | 152 4/32 | 1.1800 |
| Resistance 2 | 1298.7 | 18.05 | 56.68 | 151 15/32 | 1.1670 |
| Resistance 1 | 1280.2 | 17.67 | 54.56 | 150 14/32 | 1.1578 |
| Pivot | 1268.0 | 17.37 | 52.13 | 149 25/32 | 1.1448 |
| Support 1 | 1249.5 | 16.99 | 50.01 | 148 24/32 | 1.1356 |
| Support 2 | 1237.3 | 16.69 | 47.58 | 148 3/32 | 1.1226 |
| Support 3 | 1218.8 | 16.31 | 45.46 | 147 2/32 | 1.1134 |
| Contract | March Corn | March Wheat | March Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 404.4 | 516.1 | 1019.42 | 364.37 | 31.55 |
| Resistance 2 | 395.6 | 514.9 | 1006.33 | 354.53 | 31.34 |
| Resistance 1 | 390.7 | 514.3 | 996.67 | 347.57 | 31.07 |
| Pivot | 381.8 | 513.2 | 983.58 | 337.73 | 30.86 |
| Support 1 | 376.9 | 512.6 | 973.9 | 330.8 | 30.6 |
| Support 2 | 368.1 | 511.4 | 960.83 | 320.93 | 30.38 |
| Support 3 | 363.2 | 510.8 | 951.17 | 313.97 | 30.11 |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday January 8, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
The recent sell off and volatility in crude oil grabbed many headlines these past few months.
Crude oil has been one of my favorite markets for day trading over the last 10 years or so because of it’s volatility and the fact that it either rewards you or punishes you very quickly…
I wrote an article about day-trading crude oil futures which you can read here.
Below is a screen shot from my chart for today’s session.
I use 18 ticks range bar chart in addition to my 15 minutes charts.
CLEG5, – Crude Light (Globex), Feb 15: Range Bar, 18 Tick Units
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.
To start your free 3 weeks trial, click here.
Trader Planet Award
Please vote for our blog at:
Once there, scroll to the blog category and select
Daily Futures Trading Levels and Insight as your first place and submit at bottom of the page!
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract March 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2057.75 | 4235.58 | 17805 | 1190.23 | 93.13 |
| Resistance 2 | 2040.75 | 4199.42 | 17664 | 1181.37 | 92.82 |
| Resistance 1 | 2029.75 | 4175.08 | 17582 | 1176.13 | 92.52 |
| Pivot | 2012.75 | 4138.92 | 17441 | 1167.27 | 92.21 |
| Support 1 | 2001.75 | 4114.58 | 17359 | 1162.03 | 91.91 |
| Support 2 | 1984.75 | 4078.42 | 17218 | 1153.17 | 91.60 |
| Support 3 | 1973.75 | 4054.08 | 17136 | 1147.93 | 91.30 |
| Contract | Feb. Gold | Mar.Silver | Feb. Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1228.3 | 17.06 | 52.16 | 150 7/32 | 1.1989 |
| Resistance 2 | 1223.9 | 16.86 | 50.73 | 149 15/32 | 1.1946 |
| Resistance 1 | 1218.0 | 16.70 | 49.68 | 148 25/32 | 1.1894 |
| Pivot | 1213.6 | 16.50 | 48.25 | 148 1/32 | 1.1851 |
| Support 1 | 1207.7 | 16.34 | 47.20 | 147 11/32 | 1.1799 |
| Support 2 | 1203.3 | 16.14 | 45.77 | 146 19/32 | 1.1756 |
| Support 3 | 1197.4 | 15.98 | 44.72 | 145 29/32 | 1.1704 |
| Contract | March Corn | March Wheat | March Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 409.4 | 582.0 | 1068.08 | 363.53 | 33.61 |
| Resistance 2 | 406.6 | 581.5 | 1062.92 | 360.47 | 33.51 |
| Resistance 1 | 401.4 | 580.5 | 1059.58 | 357.23 | 33.33 |
| Pivot | 398.6 | 580.0 | 1054.42 | 354.17 | 33.23 |
| Support 1 | 393.4 | 579.0 | 1051.1 | 350.9 | 33.1 |
| Support 2 | 390.6 | 578.5 | 1045.92 | 347.87 | 32.95 |
| Support 3 | 385.4 | 577.5 | 1042.58 | 344.63 | 32.77 |
| Date | 4:04pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuJan 8 | 2:00am | EUR | German Factory Orders m/m | -0.6% | 2.5% | ||||
| 3:00am | GBP | Halifax HPI m/m | 0.3% | 0.4% | |||||
| 5:00am | EUR | Retail Sales m/m | 0.3% | 0.4% | |||||
| EUR | PPI m/m | -0.2% | -0.4% | ||||||
| Tentative | EUR | French 10-y Bond Auction | 1.11|2.4 | ||||||
| 7:00am | GBP | Official Bank Rate | 0.50% | 0.50% | |||||
| GBP | Asset Purchase Facility | 375B | 375B | ||||||
| Tentative | GBP | MPC Rate Statement | |||||||
| 7:30am | USD | Challenger Job Cuts y/y | -20.7% | ||||||
| 8:30am | CAD | NHPI m/m | 0.2% | 0.1% | |||||
| USD | Unemployment Claims | 291K | 298K | ||||||
| 10:30am | USD | Natural Gas Storage | -120B | -26B | |||||
| 3:00pm | USD | Consumer Credit m/m | 15.1B | 13.2B | |||||
| 4:45pm | NZD | Building Consents m/m | 8.8% | ||||||
| 5:30pm | AUD | AIG Construction Index | 45.4 | ||||||
| 7:30pm | AUD | Retail Sales m/m | 0.3% | 0.4% | |||||
| 8:30pm | CNY | CPI y/y | 1.5% | 1.4% | |||||
| CNY | PPI y/y | -3.1% | -2.7% | ||||||
| 8th-15th | NZD | REINZ HPI m/m | 3.3% |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Trader Planet
Please vote for our blog at:
Once there, scroll to the blog category and select
Daily Futures Trading Levels and Insight as your first place and submit at bottom of the page!
Day Trading Commodities with Crude Oil Futures
Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 100,000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..
Read the rest along with chart samples here
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2097.58 | 4402.17 | 18145 | 1234.10 | 90.41 |
| Resistance 2 | 2079.92 | 4350.33 | 18009 | 1211.20 | 89.85 |
| Resistance 1 | 2068.58 | 4320.42 | 17895 | 1198.00 | 89.29 |
| Pivot | 2050.92 | 4268.58 | 17759 | 1175.10 | 88.72 |
| Support 1 | 2039.58 | 4238.67 | 17645 | 1161.90 | 88.16 |
| Support 2 | 2021.92 | 4186.83 | 17509 | 1139.00 | 87.60 |
| Support 3 | 2010.58 | 4156.92 | 17395 | 1125.80 | 87.04 |
| Contract | Feb. Gold | Mar.Silver | Jan. Crude Oil | Mar. Bonds | Dec. Euro |
| Resistance 3 | 1286.1 | 18.37 | 66.60 | 144 19/32 | 1.2607 |
| Resistance 2 | 1262.5 | 17.80 | 65.40 | 144 4/32 | 1.2529 |
| Resistance 1 | 1246.6 | 17.43 | 64.65 | 143 24/32 | 1.2450 |
| Pivot | 1223.0 | 16.86 | 63.45 | 143 9/32 | 1.2372 |
| Support 1 | 1207.1 | 16.49 | 62.70 | 142 29/32 | 1.2293 |
| Support 2 | 1183.5 | 15.92 | 61.50 | 142 14/32 | 1.2215 |
| Support 3 | 1167.6 | 15.55 | 60.75 | 142 2/32 | 1.2136 |
| Contract | March Corn | March Wheat | Jan. Beans | Jan. SoyMeal | Jan. bean Oil |
| Resistance 3 | 403.8 | 594.5 | 1060.25 | 384.70 | 32.86 |
| Resistance 2 | 399.9 | 592.8 | 1054.75 | 380.30 | 32.55 |
| Resistance 1 | 397.6 | 589.3 | 1052.00 | 377.80 | 32.27 |
| Pivot | 393.7 | 587.5 | 1046.50 | 373.40 | 31.96 |
| Support 1 | 391.3 | 584.0 | 1043.8 | 370.9 | 31.7 |
| Support 2 | 387.4 | 582.3 | 1038.25 | 366.50 | 31.37 |
| Support 3 | 385.1 | 578.8 | 1035.50 | 364.00 | 31.09 |
Economic Reports
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Hope everyone enjoyed a nice holiday break with their loved ones!
What a volatile start for the month of December!!
It started with over the Thanksgiving break, when OPEC met during thin holiday markets and the reaction sent vibes across many different markets with a strong sell off in energy and metals that started Thursday, Friday and Sunday night but then some time around midnight pacific time last night, big reversal on the4se sectors as crude oil bounced over $6 from the lows, silver almost $2.50 off the lows….extreme volatility.
Quick overview from TradeTheNews.com below:
TradeTheNews.com Weekly Market Update: Oil Carnage Spills Into Deflation Fears
Fri, 28 Nov 2014 13:53 PM ESTOPEC’s decision to refrain from a production ceiling cut drove most of the trading action this week. As the cartel confirmed on Thursday that it would not reduce its 30M bpd production target, oil prices plummeted to multi-year lows dragging down energy related equities, and oil-leveraged currencies like the Ruble and Norwegian Krone hit multi-year lows. The move in oil reinvigorated the broader market debate about whether the biggest impact of cheap energy will be the benefit to consumers or the threat of creating a deflationary wave. This was further substantiated by more weak CPI readings out of Europe and Japan. The other big trend of the week, the start of the holiday shopping season, got off to a solid start with preliminary Thanksgiving Day and Black Friday sales showing good year over year growth. The second read on US Q3 GDP came in better than expected, further validating the US as the leading edge of the economic recovery. For the week, the DJIA rose 0.1%, the S&P500 gained 0.2%, and the Nasdaq added 1.7%.Third-quarter US economic growth was revised higher in the preliminary GDP reading, to +3.9% from +3.5% in the advance reading, well ahead of the +3.3% expected. The economy has grown at or above a 3.5% quarterly rate for four out of the last five quarters, although many observers suggest this pace of growth is not sustainable. Spending on investment in housing and by business grew strongly over the advance reading. In other US data, the headline October durable goods was up very slightly, driven up by a spike in bookings for military aircraft, but the core business investment segment looked weak. October personal income and spending was slightly lower than expected but bounced back from September’s flat reading, returning to the steady rate of growth seen over recent months. The PCE series, the Fed’s preferred measure of inflation, was pretty much flat in October.
Oil prices fluctuated in the first half of the week as major oil producers horse traded ahead of Thursday’s OPEC meeting in Vienna. Prior to the meeting, oil ministers from Saudi Arabia and Venezuela met with non-OPEC nations Russia and Mexico to discuss falling prices. The four countries, which together account for about a third of global oil production, agreed to “monitor” prices and come together again in three months to assess the market. Interestingly, Rosneft CEO Sechin, the de facto oil tsar of Russia who was at the four-party meeting, said that even oil prices falling below $60/barrel would not force Russia to cut production. As the week wore on, it became clear that OPEC would not cut its production ceiling, and after the official announcement on Thursday crude futures plunged nearly 10%, dragging down oil-related equities. OPEC took the stance that the cartel does not want to give up market share and put the onus on the “new” players (i.e. North American shale oil) to reduce their production to stabilize the oversupplied market. For its part, OPEC indicated it may better enforce the cartel’s 30 million bpd targeted production ceiling, which could trim 300 thousand bpd of overproduction if members adhere to their quotas. Brent crude ended Friday testing the $70/barrel level and WTI finished around $66/barrel.
Earnings reports were mixed this week. Deere’s fourth-quarter results were stronger than expected but declined on a y/y basis, while the initial FY15 outlook was not very positive. The firm warned that farm equipment sales and profits would keep falling in 2015, but on the conference call insisted that next year would represent the trough in the cycle. Hewlett-Packard shares surged to a fresh three year high as headline results were about in line, but underlying trends continued to improve. Executives said that for the first time in several years HP saw operating margin expansion in every one of its business segments. Tiffany shares rose on Tuesday despite a slight miss on the top and bottom line for Q3 and trimming its fiscal year revenue guidance. Same store sales in the Americas region were a bright spot for the luxury retailer, rising in 11%, helping to offset a drop in Asia comps.
For the forex market, disinflation remained a key theme in both Asia and European. Dealers note that decline in oil prices following the OPEC meeting would make it even more difficult for central banks in Europe and Japan to push up inflation. Emphasizing that issue, the Euro Zone Nov Flash CPI estimate came in line with expectations, but matched a 5-year low. The focus is now turning to next Thursday’s ECB rate decision for any hints that the central bank would be the next to carry the QE baton. ECB council members have stated that they want more time to assess the effects of prior stimulus measures to materialize, but European bond yields moved back to record lows in both core and peripheral nations on QE hopes.
The Shanghai Composite was lifted to fresh 3-year highs of 2,650 this week by the momentum of last Friday’s surprise interest rate cut. PBoC has solidified the easing bias of its “prudent” policy stance with more cosmetic liquidity injections. On Tuesday, the central bank’s offering yield in its 14-day repo operations was reduced by another 20bps to 3.20% – the 4th such cut in the cycle. Then on Thursday, PBoC deferred on further regular drain for the first time in 4 months, resulting in the net weekly injection of CNY35B, the biggest in 3 months. Increasingly proactive monetary policy has been further justified by more instances of deteriorating economic data out of the mainland, as China October industrial profits slumped by 2.1% y/y – the biggest decline since August 2012. Meanwhile in Hong Kong, the diminishing support for the Occupy Central movement has finally emboldened law enforcement to retake the protest site, as police moved in to clear the Mong Kok area, arresting student leaders and over 100 of their followers.
In Japan, the BOJ released the minutes from its controversial October policy meeting, when the central bank unveiled a fresh round of Quantitative Easing in a tight 5-4 vote. The minutes revealed that the dissenters feared the side effects of more QE, reinforcing the depth of the split in the policy committee and also suggesting the minority camp is well-entrenched in its position to take a less aggressive approach. Separately, the Cabinet Office November report maintained its overall economic assessment, but lowered its view on the Employment segment for the first time in 2 years. On Friday, Japan core CPI figures marked fresh multi-month lows, as slumping oil prices offered stiff resistance to the weak Yen in expanding Japan inflationary trend.
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2077.17 | 4387.17 | 17922 | 1184.40 | 89.11 |
| Resistance 2 | 2070.58 | 4361.33 | 17866 | 1178.00 | 88.81 |
| Resistance 1 | 2061.42 | 4325.17 | 17814 | 1165.70 | 88.41 |
| Pivot | 2054.83 | 4299.33 | 17758 | 1159.30 | 88.11 |
| Support 1 | 2045.67 | 4263.17 | 17706 | 1147.00 | 87.71 |
| Support 2 | 2039.08 | 4237.33 | 17650 | 1140.60 | 87.41 |
| Support 3 | 2029.92 | 4201.17 | 17598 | 1128.30 | 87.01 |
| Contract | Feb. Gold | Mar.Silver | Jan. Crude Oil | Mar. Bonds | Dec. Euro |
| Resistance 3 | 1320.9 | 20.14 | 77.21 | 144 4/32 | 1.2603 |
| Resistance 2 | 1271.0 | 18.48 | 73.37 | 143 23/32 | 1.2556 |
| Resistance 1 | 1241.6 | 17.49 | 71.39 | 142 27/32 | 1.2515 |
| Pivot | 1191.7 | 15.82 | 67.55 | 142 14/32 | 1.2468 |
| Support 1 | 1162.3 | 14.83 | 65.57 | 141 18/32 | 1.2427 |
| Support 2 | 1112.4 | 13.17 | 61.73 | 141 5/32 | 1.2380 |
| Support 3 | 1083.0 | 12.18 | 59.75 | 140 9/32 | 1.2339 |
| Contract | March Corn | March Wheat | Jan. Beans | Jan. SoyMeal | Jan. bean Oil |
| Resistance 3 | 399.8 | 640.5 | 1028.33 | 376.17 | 32.95 |
| Resistance 2 | 395.3 | 624.3 | 1023.67 | 372.53 | 32.73 |
| Resistance 1 | 392.5 | 615.5 | 1020.33 | 367.27 | 32.55 |
| Pivot | 388.0 | 599.3 | 1015.67 | 363.63 | 32.33 |
| Support 1 | 385.3 | 590.5 | 1012.3 | 358.4 | 32.1 |
| Support 2 | 380.8 | 574.3 | 1007.67 | 354.73 | 31.93 |
| Support 3 | 378.0 | 565.5 | 1004.33 | 349.47 | 31.75 |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
I was asked this morning, “what futures markets would you recommend a newcomer to start with?”
While the answer will vary based on perspective trader risk capital, risk tolerance, personality etc. I do think that there are a few markets that might be a better start for first time futures day trader.
I personally would say, leave the mini SP alone. yes it has the biggest volume but there is quite a bit of size on the bid/ask that may make this frustrating for new traders.
My favorite markets to share with first time traders are:
The mini Dow moves similar to mini sp but the value per point/tick is smaller, still has good volume but not as hard to get filled on the limits as the mini SP
The 10 year notes are usually less volatile than the other markets mentioned. Completely different type of trading personality and offer a good diversification option for new traders and experienced traders. The 30 year bonds will move a bit more than the 10 years and are a bit more volatile but very similar. If you are moving from beginner to intermediate, trading the spread between the 10 years and the 30 years is an option to explore! I included a chart of both for reference below.
The mini gold and mini crude are another good option because it is the smaller contract size of two markets that can really move, offer volatility and RISK but the availability of the mini sized contracts make these two a better option for beginners until one has experience / risk capital and appetite for the standard contract sizes of gold and crude oil.
Ten Years and 30 years 10 minutes chart:
Custom TYA – 10 YR US Treasury Notes (Globex), Equalized Active 10 Min Continuation
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2075.50 | 4304.75 | 17806 | 1188.23 | 88.29 |
| Resistance 2 | 2064.75 | 4276.75 | 17753 | 1182.37 | 88.13 |
| Resistance 1 | 2057.25 | 4259.00 | 17706 | 1175.23 | 87.89 |
| Pivot | 2046.50 | 4231.00 | 17653 | 1169.37 | 87.73 |
| Support 1 | 2039.00 | 4213.25 | 17606 | 1162.23 | 87.48 |
| Support 2 | 2028.25 | 4185.25 | 17553 | 1156.37 | 87.32 |
| Support 3 | 2020.75 | 4167.50 | 17506 | 1149.23 | 87.08 |
| Contract | Dec. Gold | Dec.Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1227.4 | 16.83 | 77.96 | 142 13/32 | 1.2679 |
| Resistance 2 | 1215.8 | 16.62 | 77.20 | 142 5/32 | 1.2613 |
| Resistance 1 | 1206.0 | 16.40 | 75.75 | 141 29/32 | 1.2576 |
| Pivot | 1194.4 | 16.19 | 74.99 | 141 21/32 | 1.2510 |
| Support 1 | 1184.6 | 15.97 | 73.54 | 141 13/32 | 1.2473 |
| Support 2 | 1173.0 | 15.76 | 72.78 | 141 5/32 | 1.2407 |
| Support 3 | 1163.2 | 15.54 | 71.33 | 140 29/32 | 1.2370 |
| Contract | Dec Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 379.0 | 552.3 | 1050.83 | 402.83 | 33.17 |
| Resistance 2 | 377.5 | 551.0 | 1044.42 | 397.67 | 33.04 |
| Resistance 1 | 374.8 | 550.0 | 1033.83 | 387.83 | 32.84 |
| Pivot | 373.3 | 548.8 | 1027.42 | 382.67 | 32.71 |
| Support 1 | 370.5 | 547.8 | 1016.8 | 372.8 | 32.5 |
| Support 2 | 369.0 | 546.5 | 1010.42 | 367.67 | 32.38 |
| Support 3 | 366.3 | 545.5 | 999.83 | 357.83 | 32.18 |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2061.08 | 4263.00 | 17779 | 1205.63 | 88.22 |
| Resistance 2 | 2052.42 | 4245.00 | 17720 | 1198.07 | 88.09 |
| Resistance 1 | 2044.08 | 4227.50 | 17661 | 1186.33 | 87.96 |
| Pivot | 2035.42 | 4209.50 | 17602 | 1178.77 | 87.83 |
| Support 1 | 2027.08 | 4192.00 | 17543 | 1167.03 | 87.70 |
| Support 2 | 2018.42 | 4174.00 | 17484 | 1159.47 | 87.57 |
| Support 3 | 2010.08 | 4156.50 | 17425 | 1147.73 | 87.44 |
| Contract | Dec. Gold | Dec.Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1182.3 | 16.00 | 79.59 | 142 2/32 | 1.2572 |
| Resistance 2 | 1174.8 | 15.89 | 78.37 | 141 24/32 | 1.2534 |
| Resistance 1 | 1167.9 | 15.74 | 76.50 | 141 16/32 | 1.2506 |
| Pivot | 1160.4 | 15.64 | 75.28 | 141 6/32 | 1.2468 |
| Support 1 | 1153.5 | 15.49 | 73.41 | 140 30/32 | 1.2440 |
| Support 2 | 1146.0 | 15.38 | 72.19 | 140 20/32 | 1.2402 |
| Support 3 | 1139.1 | 15.23 | 70.32 | 140 12/32 | 1.2374 |
| Contract | Dec Corn | Dec. Wheat | Jan. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 396.5 | 553.8 | 1081.33 | 421.17 | 32.78 |
| Resistance 2 | 392.3 | 553.8 | 1073.17 | 414.43 | 32.60 |
| Resistance 1 | 389.3 | 553.8 | 1063.33 | 403.97 | 32.34 |
| Pivot | 385.0 | 553.8 | 1055.17 | 397.23 | 32.16 |
| Support 1 | 382.0 | 553.8 | 1045.3 | 386.8 | 31.9 |
| Support 2 | 377.8 | 553.8 | 1037.17 | 380.03 | 31.72 |
| Support 3 | 374.8 | 553.8 | 1027.33 | 369.57 | 31.46 |
| Date | 3:57pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriNov 14 | 1:30am | EUR | French Prelim GDP q/q | 0.1% | 0.0% | ||||
| 2:00am | EUR | German Prelim GDP q/q | 0.1% | -0.2% | |||||
| 2:45am | EUR | French Prelim Non-Farm Payrolls q/q | 0.2% | 0.1% | |||||
| 4:00am | EUR | Italian Prelim GDP q/q | -0.1% | -0.2% | |||||
| 5:00am | EUR | Final CPI y/y | 0.4% | 0.4% | |||||
| EUR | Flash GDP q/q | 0.1% | 0.0% | ||||||
| EUR | Final Core CPI y/y | 0.7% | 0.7% | ||||||
| 8:30am | USD | Core Retail Sales m/m | 0.2% | -0.2% | |||||
| USD | Retail Sales m/m | 0.2% | -0.3% | ||||||
| USD | Import Prices m/m | -1.7% | -0.5% | ||||||
| 9:55am | USD | Prelim UoM Consumer Sentiment | 87.3 | 86.9 | |||||
| USD | Prelim UoM Inflation Expectations | 2.9% | |||||||
| 10:00am | USD | Business Inventories m/m | 0.3% | 0.2% | |||||
| USD | Mortgage Delinquencies | 6.04% | |||||||
| 10:30am | USD | Natural Gas Storage | 37B | 91B | |||||
| 4:00pm | USD | FOMC Member Fischer Speaks | |||||||
| Day 1 | ALL | G20 Meetings |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Weekly crude numbers for WTI from EIA for 28 years .
Wealth of information for review if you are a crude oil/ energy trader!
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rwtc&f=w
Trading myopothy blinds many traders so from time to time it is important to step back, take a deep breath and look at the price action from longer time frames” The action to the downside in the Crude oil market has been nothing short of breathtaking. ….
the longer term view(s) can illustrate ( on this chart supplied by U.S. Energy Information Administration). That deeper sell offs and more volatile market moves could continue for some time .
Weekly chart for your review below:
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell |
| Resistance 3 | 1961.42 | 4016.00 | 16753 | 1130.57 |
| Resistance 2 | 1952.58 | 3999.50 | 16675 | 1122.63 |
| Resistance 1 | 1937.92 | 3972.50 | 16538 | 1108.27 |
| Pivot | 1929.08 | 3956.00 | 16460 | 1100.33 |
| Support 1 | 1914.42 | 3929.00 | 16323 | 1085.97 |
| Support 2 | 1905.58 | 3912.50 | 16245 | 1078.03 |
| Support 3 | 1890.92 | 3885.50 | 16108 | 1063.67 |
| Contract | December Gold | Dec.Silver | Dec. Crude Oil | Dec. Bonds |
| Resistance 3 | 1257.2 | 17.84 | 85.22 | 144 9/32 |
| Resistance 2 | 1253.7 | 17.69 | 84.18 | 143 25/32 |
| Resistance 1 | 1247.8 | 17.42 | 82.29 | 143 4/32 |
| Pivot | 1244.3 | 17.27 | 81.25 | 142 20/32 |
| Support 1 | 1238.4 | 17.00 | 79.36 | 141 31/32 |
| Support 2 | 1234.9 | 16.85 | 78.32 | 141 15/32 |
| Support 3 | 1229.0 | 16.58 | 76.43 | 140 26/32 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal |
| Resistance 3 | 365.7 | 523.0 | 992.67 | 367.33 |
| Resistance 2 | 362.8 | 522.8 | 985.58 | 360.47 |
| Resistance 1 | 357.9 | 522.5 | 974.17 | 349.23 |
| Pivot | 355.1 | 522.3 | 967.08 | 342.37 |
| Support 1 | 350.2 | 522.0 | 955.7 | 331.1 |
| Support 2 | 347.3 | 521.8 | 948.58 | 324.27 |
| Support 3 | 342.4 | 521.5 | 937.17 | 313.03 |
| Date | 10:21am | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuOct 23 | 3:00am | EUR | French Flash Manufacturing PMI | 47.3 | 48.6 | 48.8 | |||
| EUR | French Flash Services PMI | 48.1 | 48.2 | 48.4 | |||||
| EUR | Spanish Unemployment Rate | 23.7% | 24.1% | 24.5% | |||||
| 3:30am | EUR | German Flash Manufacturing PMI | 51.8 | 49.6 | 49.9 | ||||
| EUR | German Flash Services PMI | 54.8 | 55.0 | 55.7 | |||||
| 4:00am | EUR | Flash Manufacturing PMI | 50.7 | 50.0 | 50.3 | ||||
| EUR | Flash Services PMI | 52.4 | 52.0 | 52.4 | |||||
| Day 1 | EUR | EU Economic Summit | |||||||
| 8:30am | USD | Unemployment Claims | 283K | 269K | 266K | ||||
| 9:00am | USD | HPI m/m | 0.5% | 0.4% | 0.2% | ||||
| 9:45am | USD | Flash Manufacturing PMI | 56.2 | 57.2 | 57.5 | ||||
| 10:00am | EUR | Consumer Confidence | -11 | -12 | -11 | ||||
| USD | CB Leading Index m/m | 0.8% | 0.8% | 0.0% | |||||
| 10:30am | USD | Natural Gas Storage | 97B | 94B |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I may sound like I keep repeating myself but make sure you are adapting to the different market conditions we are seeing compared to a month ago or so.
There is much higher volatility, speed of price change and wider ranges.
Moves today in bonds, S&P, Russell, Crude, Gold and many other markets were very sharp, fast and powerful. This obviously presents both risks and opportunities but for newcomers – mostly risk.
This is a good day to keep notes on in your journal. What caused the price action? What type of “bands” did the market have? How did you do as a trader? What can you do better and learn from for the next “Wild, crazy” day which may even happen tomorrow?
The biggest advice I can give on days like today is to make sure you don’t lose it….make sure you know what your daily loss limit is and step away if it gets triggered. This is one of those days where I have seen traders blow their whole account up…..So just make sure you live to trade another day!
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1959.42 | 3983.67 | 16900 | 1117.23 | 87.54 |
| Resistance 2 | 1921.33 | 3907.58 | 16615 | 1095.37 | 86.84 |
| Resistance 1 | 1889.17 | 3843.42 | 16340 | 1082.53 | 85.94 |
| Pivot | 1851.08 | 3767.33 | 16055 | 1060.67 | 85.23 |
| Support 1 | 1818.92 | 3703.17 | 15780 | 1047.83 | 84.33 |
| Support 2 | 1780.83 | 3627.08 | 15495 | 1025.97 | 83.63 |
| Support 3 | 1748.67 | 3562.92 | 15220 | 1013.13 | 82.73 |
| Contract | December Gold | Dec.Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1279.8 | 18.62 | 85.12 | 151 18/32 | 1.3192 |
| Resistance 2 | 1265.1 | 18.22 | 83.79 | 149 25/32 | 1.3043 |
| Resistance 1 | 1251.5 | 17.82 | 82.68 | 146 24/32 | 1.2929 |
| Pivot | 1236.8 | 17.42 | 81.35 | 144 31/32 | 1.2780 |
| Support 1 | 1223.2 | 17.02 | 80.24 | 141 30/32 | 1.2666 |
| Support 2 | 1208.5 | 16.62 | 78.91 | 140 5/32 | 1.2517 |
| Support 3 | 1194.9 | 16.22 | 77.80 | 137 4/32 | 1.2403 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 365.7 | 523.3 | 995.33 | 338.43 | 33.24 |
| Resistance 2 | 361.8 | 519.2 | 986.17 | 334.17 | 32.97 |
| Resistance 1 | 354.7 | 512.6 | 969.33 | 330.73 | 32.48 |
| Pivot | 350.8 | 508.4 | 960.17 | 326.47 | 32.21 |
| Support 1 | 343.7 | 501.8 | 943.3 | 323.0 | 31.7 |
| Support 2 | 339.8 | 497.7 | 934.17 | 318.77 | 31.45 |
| Support 3 | 332.7 | 491.1 | 917.33 | 315.33 | 30.96 |
| Date | 3:43pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuOct 16 | 4:00am | EUR | Italian Trade Balance | 3.24B | 6.86B | ||||
| 5:00am | EUR | Final CPI y/y | 0.3% | 0.3% | |||||
| EUR | Final Core CPI y/y | 0.7% | 0.7% | ||||||
| EUR | Trade Balance | 13.5B | 12.2B | ||||||
| Tentative | EUR | Spanish 10-y Bond Auction | 2.08|1.5 | ||||||
| Tentative | EUR | German Buba President Weidmann Speaks | |||||||
| 8:00am | USD | FOMC Member Plosser Speaks | |||||||
| 8:30am | USD | Unemployment Claims | 286K | 287K | |||||
| 9:15am | USD | Capacity Utilization Rate | 79.0% | 78.8% | |||||
| USD | Industrial Production m/m | 0.4% | -0.1% | ||||||
| 10:00am | USD | Philly Fed Manufacturing Index | 19.9 | 22.5 | |||||
| USD | FOMC Member Kocherlakota Speaks | ||||||||
| USD | NAHB Housing Market Index | 59 | 59 | ||||||
| 10:30am | USD | Natural Gas Storage | 91B | 105B | |||||
| 11:00am | USD | Crude Oil Inventories | 2.3M | 5.0M | |||||
| 4:00pm | USD | TIC Long-Term Purchases | 23.3B | -18.6B |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Another two markets I like to touch on when it comes to “other markets to daytrade beside the mini SP 500” are Crude Oil Futures and Gold futures.
More than a few similarities between the two markets.
They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.
Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.
Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.
Both markets “traded what I consider average behavior” , the range on gold was $11 or = $1100 wide using one futures contract. Crude ranges today was less than $1.95 or about $1950 between hi/lo.
I like using overbought/ oversold indicators on the two markets as well as using range / Renko charts.
If you never traded these markets before, I highly recommend exploring in simulation/ demo mode. get a feel for the explosiveness, volatility, personality for a few weeks before trying in live mode.
As always, any questions, please feel free to email me.
Two charts from today’s session of gold and crude for your review below:
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1977.25 | 4052.25 | 17094 | 1103.50 | 86.70 |
| Resistance 2 | 1966.75 | 4031.25 | 16999 | 1096.90 | 86.46 |
| Resistance 1 | 1946.75 | 3992.25 | 16818 | 1084.50 | 86.12 |
| Pivot | 1936.25 | 3971.25 | 16723 | 1077.90 | 85.88 |
| Support 1 | 1916.25 | 3932.25 | 16542 | 1065.50 | 85.54 |
| Support 2 | 1905.75 | 3911.25 | 16447 | 1058.90 | 85.30 |
| Support 3 | 1885.75 | 3872.25 | 16266 | 1046.50 | 84.96 |
| Contract | December Gold | Dec.Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1226.7 | 18.06 | 92.00 | 142 11/32 | 1.2805 |
| Resistance 2 | 1220.4 | 17.84 | 91.29 | 141 17/32 | 1.2747 |
| Resistance 1 | 1215.6 | 17.52 | 90.05 | 141 3/32 | 1.2707 |
| Pivot | 1209.3 | 17.30 | 89.34 | 140 9/32 | 1.2649 |
| Support 1 | 1204.5 | 16.98 | 88.10 | 139 27/32 | 1.2609 |
| Support 2 | 1198.2 | 16.76 | 87.39 | 139 1/32 | 1.2551 |
| Support 3 | 1193.4 | 16.44 | 86.15 | 138 19/32 | 1.2511 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 352.3 | 506.7 | 973.00 | 327.87 | 33.86 |
| Resistance 2 | 346.7 | 506.6 | 963.75 | 322.33 | 33.69 |
| Resistance 1 | 343.6 | 506.4 | 952.25 | 317.77 | 33.40 |
| Pivot | 337.9 | 506.3 | 943.00 | 312.23 | 33.23 |
| Support 1 | 334.8 | 506.2 | 931.5 | 307.7 | 32.9 |
| Support 2 | 329.2 | 506.1 | 922.25 | 302.13 | 32.77 |
| Support 3 | 326.1 | 505.9 | 910.75 | 297.57 | 32.48 |
| Date | 4:08pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedOct 8 | 10:30am | USD | Crude Oil Inventories | 2.1M | -1.4M | ||||
| 1:01pm | USD | 10-y Bond Auction | 2.54|2.7 | ||||||
| 2:00pm | USD | FOMC Meeting Minutes |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Time sure does tick a bit different in the commodities and futures world….
Some traders know time has passed quickly when it is time to change to the Dec. contract versus the Sept. contract, others may notice it when they think “wow, monthly unemployment is this Friday, time sure flies…” and still other traders, perhaps professionals and money managers notice it when one month ends and another starts and it is time to share monthly results with their clients…..
Either way you look at it, hope October will be a great trading month!
Today I noticed a couple of market behaviors I have noticed in the past and wanted to share with you.
The first is us Bonds trading behavior on the last trading day of the month on the last 15 minutes of the old pit session, i.e. 13:45 to 14:00 central time.
While I did not spend any time trying to predict the direction of the move, I seen it many times, the bonds will make a 10-15 ticks ( 15 tick in bonds = $500 per contract) move during the last 15 minutes as large traders position themselves ahead of months close.
Below is a 15 minute chart of Bonds from today….notice the very tight range all day long until the last 15 minutes….if you go back to the last trading day of the month, you will notice this pattern more often than not. Of course, I leave the important work to you…and that is which way and how can one try to take advantage of it….PS: My trade system below missed entering the short by 1 tick )-:
Custom USA – 30Yr US Treasury Bonds (Globex), Equalized Active 15Min Continuation
The second pattern for you to investigate if interested is the behavior of crude oil futures around “round numbers”. Today was obviously a HUGE move in crude ( down over $3 or $3000 per contract or 3.5%) but notice the 10 seconds chart I am sharing with ( yes, seconds, not minutes…) of what happened when crude broke below 93.00 and 92.00 today…..Once again, the million dollar question, how and can you take advantage of it? Obviously in this case it seems like there were MANY sell stops placed right below the round numbers which resulted in another accelerated move to the down side.
Crude breaking below $93.00
CLE – Crude Light (Globex), Equalized Active Continuation, Primary Session, 10Sec
Crude breaking below $92.00
CLE – Crude Light (Globex), Equalized Active Continuation, Primary Session, 10Sec
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1992.25 | 4104.58 | 17169 | 1133.17 | 87.09 |
| Resistance 2 | 1985.25 | 4084.67 | 17116 | 1125.43 | 86.71 |
| Resistance 1 | 1975.00 | 4064.08 | 17038 | 1110.97 | 86.37 |
| Pivot | 1968.00 | 4044.17 | 16985 | 1103.23 | 86.00 |
| Support 1 | 1957.75 | 4023.58 | 16907 | 1088.77 | 85.66 |
| Support 2 | 1950.75 | 4003.67 | 16854 | 1081.03 | 85.28 |
| Support 3 | 1940.50 | 3983.08 | 16776 | 1066.57 | 84.94 |
| Contract | December Gold | Dec.Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1235.0 | 18.19 | 97.97 | 139 2/32 | 1.2837 |
| Resistance 2 | 1227.9 | 17.88 | 96.44 | 138 25/32 | 1.2773 |
| Resistance 1 | 1218.6 | 17.46 | 93.93 | 138 13/32 | 1.2705 |
| Pivot | 1211.5 | 17.16 | 92.40 | 138 4/32 | 1.2641 |
| Support 1 | 1202.2 | 16.74 | 89.89 | 137 24/32 | 1.2573 |
| Support 2 | 1195.1 | 16.43 | 88.36 | 137 15/32 | 1.2509 |
| Support 3 | 1185.8 | 16.01 | 85.85 | 137 3/32 | 1.2441 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 329.2 | 490.0 | 944.17 | 311.30 | 33.25 |
| Resistance 2 | 327.1 | 484.3 | 937.08 | 308.30 | 33.02 |
| Resistance 1 | 323.9 | 481.0 | 925.17 | 303.60 | 32.70 |
| Pivot | 321.8 | 475.3 | 918.08 | 300.60 | 32.47 |
| Support 1 | 318.7 | 472.0 | 906.2 | 295.9 | 32.1 |
| Support 2 | 316.6 | 466.3 | 899.08 | 292.90 | 31.92 |
| Support 3 | 313.4 | 463.0 | 887.17 | 288.20 | 31.60 |
| Date | 10:18am | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedOct 1 | 3:15am | EUR | Spanish Manufacturing PMI | 52.6 | 52.3 | 52.8 | |||
| 3:45am | EUR | Italian Manufacturing PMI | 50.7 | 49.4 | 49.8 | ||||
| 4:00am | EUR | Final Manufacturing PMI | 50.3 | 50.5 | 50.5 | ||||
| 5:33am | EUR | German 10-y Bond Auction | 0.93|1.1 | 1.05|1.4 | |||||
| 8:15am | USD | ADP Non-Farm Employment Change | 213K | 207K | 202K | ||||
| 9:45am | USD | Final Manufacturing PMI | 57.5 | 58.0 | 57.9 | ||||
| 10:00am | USD | ISM Manufacturing PMI | 56.6 | 58.6 | 59.0 | ||||
| USD | Construction Spending m/m | -0.8% | 0.5% | 1.2% | |||||
| USD | ISM Manufacturing Prices | 59.5 | 56.8 | 58.0 | |||||
| 10:30am | USD | Crude Oil Inventories | 0.6M | -4.3M | |||||
| All Day | USD | Total Vehicle Sales | 16.9M | 17.5M |
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 here in 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.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Volatility has picked up again! Make sure you adapt as markets are always changing and what may work for range bound/ low volatility days will not work for wide range/ higher volatility days.
I see major support for SP500 at 1795 and it will be interesting to see price reaction if we test this level in the next few days.
On a different note, I wrote a quick analysis along with chart for Crude Oil futures at:
http://experts.forexmagnates.com/crude-oil-attempting-break-lower/
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
Futures Trading Levels
| Contract Sept. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1954.92 | 3947.92 | 16680 | 1143.87 | 82.07 |
| Resistance 2 | 1944.08 | 3924.08 | 16590 | 1135.53 | 81.89 |
| Resistance 1 | 1929.17 | 3899.42 | 16479 | 1127.07 | 81.73 |
| Pivot | 1918.33 | 3875.58 | 16389 | 1118.73 | 81.55 |
| Support 1 | 1903.42 | 3850.92 | 16278 | 1110.27 | 81.40 |
| Support 2 | 1892.58 | 3827.08 | 16188 | 1101.93 | 81.22 |
| Support 3 | 1877.67 | 3802.42 | 16077 | 1093.47 | 81.06 |
| Contract | December Gold | Sept.Silver | Sept. Crude Oil | September Bonds | Sept. Euro |
| Resistance 3 | 1306.4 | 2065.0 | 100.18 | 139 19/32 | 1.3483 |
| Resistance 2 | 1300.7 | 2047.0 | 99.43 | 139 1/32 | 1.3455 |
| Resistance 1 | 1294.7 | 2012.0 | 98.51 | 138 21/32 | 1.3416 |
| Pivot | 1289.0 | 1994.0 | 97.76 | 138 3/32 | 1.3388 |
| Support 1 | 1283.0 | 1959.0 | 96.84 | 137 23/32 | 1.3349 |
| Support 2 | 1277.3 | 1941.0 | 96.09 | 137 5/32 | 1.3321 |
| Support 3 | 1271.3 | 1906.0 | 95.17 | 136 25/32 | 1.3282 |
| Contract | Dec Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 372.0 | 553.2 | 1074.75 | 352.27 | 36.01 |
| Resistance 2 | 369.8 | 552.8 | 1070.25 | 349.53 | 35.96 |
| Resistance 1 | 368.5 | 552.7 | 1068.00 | 346.57 | 35.91 |
| Pivot | 366.3 | 552.3 | 1063.50 | 343.83 | 35.86 |
| Support 1 | 365.0 | 552.2 | 1061.3 | 340.9 | 35.8 |
| Support 2 | 362.8 | 551.8 | 1056.75 | 338.13 | 35.76 |
| Support 3 | 361.5 | 551.7 | 1054.50 | 335.17 | 35.71 |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday July 24, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Getting Clues from other markets?
When day trading a specific market do you only look at the chart for that specific market? Maybe you took it a step further and you are viewing multiple time frame charts for the same market which is a good step in my eyes.
Now lets take this even one step further by observing what markets have correlation, direct or inverse to the market you are trading, perhaps this can help you make decisions when trading.
I will give a few examples from my experience:
When I am in a position in the mini SP 500, I will often observe what the bonds are doing ( many times inverse correlation), I will take notice of what the Dow, Russell and NASDAQ are doing as well ( direct correlation).
If I am trading crude oil, I will many times pay attention to what unleaded gas and heating oil are doing (very close, although not direct correlation) as well as what WTI crude is doing.
One more example may be when I have a position trade in beans and I will try to get a feel for the overall direction of the grain markets (is there a trend? are they sideways?) by looking at corn, wheat in general and then look to see what bean oil and soy meal which are by products of beans are doing.
One question that can be asked is “what do you mean observe this or that market”? and a good example will be:
Lets say I am short the mini SP 500 and I am not sure if to take profit or not. I look at the mini Russell and see that mini Russell just made new lows, that will give me more confidence to stay in my short position as I feel there might be more room to the downside.
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
GOOD TRADING !
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract Sept. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1996.33 | 4029.08 | 17140 | 1170.00 | 81.06 |
| Resistance 2 | 1989.92 | 4006.17 | 17103 | 1164.70 | 80.99 |
| Resistance 1 | 1985.58 | 3990.08 | 17065 | 1159.40 | 80.95 |
| Pivot | 1979.17 | 3967.17 | 17028 | 1154.10 | 80.88 |
| Support 1 | 1974.83 | 3951.08 | 16990 | 1148.80 | 80.83 |
| Support 2 | 1968.42 | 3928.17 | 16953 | 1143.50 | 80.76 |
| Support 3 | 1964.08 | 3912.08 | 16915 | 1138.20 | 80.72 |
| Contract | August Gold | Sept.Silver | Sept. Crude Oil | September Bonds | Sept. Euro |
| Resistance 3 | 1318.7 | 2123.8 | 105.18 | 139 1/32 | 1.3494 |
| Resistance 2 | 1315.2 | 2117.2 | 104.26 | 138 30/32 | 1.3485 |
| Resistance 1 | 1310.4 | 2107.3 | 103.63 | 138 23/32 | 1.3474 |
| Pivot | 1306.9 | 2100.7 | 102.71 | 138 20/32 | 1.3465 |
| Support 1 | 1302.1 | 2090.8 | 102.08 | 138 13/32 | 1.3454 |
| Support 2 | 1298.6 | 2084.2 | 101.16 | 138 10/32 | 1.3445 |
| Support 3 | 1293.8 | 2074.3 | 100.53 | 138 3/32 | 1.3434 |
| Contract | Dec Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 377.3 | 537.8 | 1101.83 | 359.30 | 36.75 |
| Resistance 2 | 374.3 | 534.4 | 1089.67 | 354.10 | 36.55 |
| Resistance 1 | 372.5 | 532.6 | 1083.08 | 350.70 | 36.45 |
| Pivot | 369.5 | 529.2 | 1070.92 | 345.50 | 36.25 |
| Support 1 | 367.8 | 527.3 | 1064.3 | 342.1 | 36.2 |
| Support 2 | 364.8 | 523.9 | 1052.17 | 336.90 | 35.95 |
| Support 3 | 363.0 | 522.1 | 1045.58 | 333.50 | 35.85 |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday July 23, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I mentioned in previous posts that I am getting to like range bar charts and Renko charts more and more when it comes for very short term trading.
The main reason why I like these type of charts along with volume charts when it comes to any time frame less than 10 minutes is because I think it helps filter out noise during slow times and help you get a quicker signal when there is time of heavier action in the market.
Example, let’s say you are using a 5 minute chart along with certain studies, to make a simple example, moving averages cross overs. Before you get a signal, the 5 minute bar has to finish so you can see the value of the moving averages and see if you got a cross over or not. There are times when the market is fast with heavy volume and you may miss 80% of the move because 5 minutes can be a long time for day traders…..On the other hand if you are using Renko/volume charts/Range bars and there is good volume, fast action, these bars will complete much faster to provide a much faster signal. On the same token, if the market is slow with low volume, you will sometimes get your moving averages cross over simply because time has passed….With volume / Renko charts you may be able to filter this out simply because the bars WONT complete unless there is enough volume/ price action. Obviously, these type of charts are by no means “holly grail” but I think one should observe and pay attention to the type of charts especially if you are a short term day trader.
Below is an example of crude oil 18 ticks range bar from today as well as a 5 minutes chart from today with the same studies/ conditions applied just to get a visual idea. If you like to try out the same charts I am sharing, feel free to contact Cannon Futures Trading and we will set you up for a free trial:
Crude Oil 5 minute chart 7-22-2014
Crude Oil 5 Minute Chart 7-22-2014
Crude Oil 18 ticks range Bar chart 7-22-2014
Crude Oil 18 Ticks Range Bar Chart 7-22-2014
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not indicative to future results.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract Sept. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1997.33 | 4001.33 | 17168 | 1173.97 | 81.29 |
| Resistance 2 | 1988.92 | 3980.42 | 17119 | 1165.73 | 81.11 |
| Resistance 1 | 1982.08 | 3965.58 | 17075 | 1157.87 | 80.98 |
| Pivot | 1973.67 | 3944.67 | 17026 | 1149.63 | 80.79 |
| Support 1 | 1966.83 | 3929.83 | 16982 | 1141.77 | 80.66 |
| Support 2 | 1958.42 | 3908.92 | 16933 | 1133.53 | 80.48 |
| Support 3 | 1951.58 | 3894.08 | 16889 | 1125.67 | 80.35 |
| Contract | August Gold | Sept.Silver | Sept. Crude Oil | September Bonds | Sept. Euro |
| Resistance 3 | 1329.9 | 2148.3 | 104.50 | 139 16/32 | 1.3585 |
| Resistance 2 | 1323.4 | 2130.2 | 103.97 | 139 3/32 | 1.3559 |
| Resistance 1 | 1315.3 | 2114.8 | 103.18 | 138 27/32 | 1.3514 |
| Pivot | 1308.8 | 2096.7 | 102.65 | 138 14/32 | 1.3488 |
| Support 1 | 1300.7 | 2081.3 | 101.86 | 138 6/32 | 1.3443 |
| Support 2 | 1294.2 | 2063.2 | 101.33 | 137 25/32 | 1.3417 |
| Support 3 | 1286.1 | 2047.8 | 100.54 | 137 17/32 | 1.3372 |
| Contract | Dec Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 379.7 | 526.2 | 1095.17 | 358.40 | 36.71 |
| Resistance 2 | 377.1 | 525.8 | 1087.58 | 354.90 | 36.58 |
| Resistance 1 | 372.7 | 525.2 | 1072.67 | 348.30 | 36.30 |
| Pivot | 370.1 | 524.8 | 1065.08 | 344.80 | 36.17 |
| Support 1 | 365.7 | 524.2 | 1050.2 | 338.2 | 35.9 |
| Support 2 | 363.1 | 523.8 | 1042.58 | 334.70 | 35.76 |
| Support 3 | 358.7 | 523.2 | 1027.67 | 328.10 | 35.48 |
| Date | 3:57pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJul 23 | 10:00am | EUR | Consumer Confidence | -6 | -7 | ||||
| 10:30am | USD | Crude Oil Inventories | -2.1M | -7.5M |
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 here in 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.
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday June 11, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Once again we are witnessing lower volume, lower volatility as stock indices are hanging around their all time highs….
I know that for me personally, this type of environment would be hard to day trade, hence the reason I am sharing with you a piece I wrote before about other markets to consider for day trading:
Crude Oil and Gold futures.
More than a few similarities between the two markets.
They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.
Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.
Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.
Both markets were quiet today relatively speaking but even on a quiet day, the range on gold was $13 or = $1300 wide using one futures contract. Crude ranges today was than $1.08 or about $1080 between hi/lo.
I like using overbought/ oversold indicators on the two markets as well as using range / Renko charts.
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
If you like Our Futures Trading Daily Support and Resistance Levels, Please share!
| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1960.75 | 3823.92 | 17023 | 1185.97 | 81.26 |
| Resistance 2 | 1955.75 | 3813.08 | 16985 | 1180.13 | 81.07 |
| Resistance 1 | 1953.00 | 3806.42 | 16964 | 1176.67 | 80.95 |
| Pivot | 1948.00 | 3795.58 | 16926 | 1170.83 | 80.76 |
| Support 1 | 1945.25 | 3788.92 | 16905 | 1167.37 | 80.64 |
| Support 2 | 1940.25 | 3778.08 | 16867 | 1161.53 | 80.45 |
| Support 3 | 1937.50 | 3771.42 | 16846 | 1158.07 | 80.33 |
| Contract | August Gold | July Silver | July Crude Oil | September Bonds | June Euro |
| Resistance 3 | 1280.0 | 1958.5 | 106.16 | 136 10/32 | 1.3655 |
| Resistance 2 | 1271.9 | 1941.5 | 105.61 | 136 | 1.3628 |
| Resistance 1 | 1266.3 | 1931.0 | 105.08 | 135 12/32 | 1.3587 |
| Pivot | 1258.2 | 1914.0 | 104.53 | 135 2/32 | 1.3560 |
| Support 1 | 1252.6 | 1903.5 | 104.00 | 134 14/32 | 1.3519 |
| Support 2 | 1244.5 | 1886.5 | 103.45 | 134 4/32 | 1.3492 |
| Support 3 | 1238.9 | 1876.0 | 102.92 | 133 16/32 | 1.3451 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 457.0 | 612.4 | 1480.67 | 501.67 | 39.41 |
| Resistance 2 | 454.5 | 610.1 | 1476.83 | 496.83 | 39.30 |
| Resistance 1 | 450.0 | 605.7 | 1469.67 | 490.67 | 39.12 |
| Pivot | 447.5 | 603.3 | 1465.83 | 485.83 | 39.01 |
| Support 1 | 443.0 | 598.9 | 1458.7 | 479.7 | 38.8 |
| Support 2 | 440.5 | 596.6 | 1454.83 | 474.83 | 38.72 |
| Support 3 | 436.0 | 592.2 | 1447.67 | 468.67 | 38.54 |
| Date | 3:53pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJun 11 | All Day | ALL | OPEC Meetings | ||||||
| 10:30am | USD | Crude Oil Inventories | -1.3M | -3.4M | |||||
| 1:01pm | USD | 10-y Bond Auction | 2.61|2.6 | ||||||
| 2:00pm | USD | Federal Budget Balance | -132.8B | 106.9B |
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 here in 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.
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4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday May 7, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Below is a screen shot of the Crude Oil chart from the last few trading sessions. I use 18 ticks range bar chart. This model does well when the market has two sided volatility and action like in the chart below but tend to get chopped when there is a strong trend.
Would you like to have access to my DIAMOND and TOPAZ 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 I enable the ALGO along with few studies for your own sierra/ ATcharts OR CQG Q trader.
To start your trial, please send me an email with the following information:
1. Are you currently trading futures?
2. Charting software you use?
3. If yo
1-800-454-9572
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