Weekly Newsletters, Futures Trading Tips & Insight, Commodity Trading Educational Resources & Much More.
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.
Trade June indices as well as June currencies!
By Mark O’Brien, Senior broker
Crude oil futures prices plunged more than $5.50 a barrel intraday today – touching a low of $65.65 (basis April) – to their lowest in more than a year as news that Credit Suisse’s biggest shareholder, Saudi National Bank, said it would not make further investments in the firm, sending the Swiss lender’s stock plunging ±27% and adding to the already extreme turmoil in the banking sector from the collapse of Silicon Valley Bank and Signature Bank last week here in the U.S.
In turn, gold futures prices climbed over 1% intraday with the April contract topping $1,942.50 per ounce intraday, it’s highest price since early February. Conversely, Copper futures lost ±11 cents / pound – over 4% intraday – with the May futures contract touching $3.84 / lb. matching prices from early January and extending a near month-long ±40-cent / $10,000 decline.
Not surprisingly, with the banking sector hitting rough seas this last week, treasuries have once again assumed their safe-haven status with the 30-yr. T-bond futures contract soaring ±10 full basis points ±$10,000 over the last nine trading days to March 3 and sending the benchmark 10-year Treasury note yield tumbling to near 3.5%
Significant volatility looks to be the order of the day for the near term across the major financial futures sectors – stock indexes, interest rates, currencies – as well as metals and energies. Up next, the FOMC meeting this coming Tuesday/Wednesday.
Be Careful out there, 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.
03-16-2023
#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.
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.
08-16-2022
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.
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.
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.
05-25-2022
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 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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01-06-2022
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.
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.
01-04-2022
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,
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.
9-16-2021
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.
5-21-2021
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.
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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Dear Traders,
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By Blu Putnam, Chief Economist, CME Group
Unleaded Gasoline Daily Chart for your review below:
 If you like to set up a time and chat with a licensed series 3 broker, pleasecontact us. |
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
05-15-2018
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Futures Trading Levels
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Economic Reports, source:
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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.
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.
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011
DAYLIGHT SAVING ends this weekend!
International traders especially, please pay attention we are moving the clocks an hour back.
| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1272.83 | 2398.00 | 12250 | 767.40 |
| Resistance Level 2 | 1262.17 | 2379.00 | 12129 | 758.50 |
| Resistance Level 1 | 1256.33 | 2365.00 | 12032 | 751.90 |
| Pivot Point | 1245.67 | 2346.00 | 11911 | 743.00 |
| Support Level 1 | 1239.83 | 2332.00 | 11814 | 736.40 |
| Support Level 2 | 1229.17 | 2313.00 | 11693 | 727.50 |
| Support Level 3 | 1223.33 | 2299.00 | 11596 | 720.90 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance Level 3 | 1780.2 | 1.4034 | 97.35 | 143 20/32 |
| Resistance Level 2 | 1772.4 | 1.3957 | 96.14 | 142 18/32 |
| Resistance Level 1 | 1765.3 | 1.3863 | 95.29 | 141 25/32 |
| Pivot Point | 1757.5 | 1.3786 | 94.08 | 140 23/32 |
| Support Level 1 | 1750.4 | 1.3692 | 93.23 | 139 30/32 |
| Support Level 2 | 1742.6 | 1.3615 | 92.02 | 138 28/32 |
| Support Level 3 | 1735.5 | 1.3521 | 91.17 | 138 3/32 |
On a different note please see weekly chart of the SP500 for your review below, which also brings me to a quick tip on how I try to manage trading multiple time frames.
There are times that I will have trades that I consider swing trades or longer term trades while I still look for intra day or day trade opportunities. When that happens I will try to use different contracts. Example, lets say I think that there is a set up based on the daily chart for short position on stock indices, I may go short mini Dow but then there might be a daytrade set up for different directions in which I will use the mini SP in order not to confuse myself between my longer term set ups and my intraday set ups.
Have a great weekend!!
Sentix Investor Confidence
5:30am
Retail Sales m/m
6:00am
German Industrial Production m/m
7:00am
Consumer Credit m/m
4:00pm
Cannon Trading / E-Futures.com
There is a good article available at the Cannon Trading Company Weekly Newsletter.
GOOD TRADING!
Building Permits
8:30am USD
Unemployment Claims
8:30am USD
Current Account
8:30am USD
Housing Starts
8:30am USD
Philly Fed Manufacturing Index
10:00am USD
Natural Gas Storage
10:30am USD
Economics Report Source: http://www.forexfactory.com/calendar.php
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!
Not an easy market to read right now in my opinion.
It is showing signs like it would like to visit some lower levels, yet there is enough buying interest to keep it above 1127.
This Friday monthly unemployment levels will be watched closely.
If the market breaks below 1127, it has a chance of picking some more speed to the downside.
On the flip side, bulls will need to see new highs in order to get back in control of price action.
Daily chart with some price levels to watch for your review below:
Commodity Futures Trading Charts
GOOD TRADING!
Futures Trading Levels
This Week’s Calendar from Econoday.Com
All reports are EST time
Another great source for economic reports around the globe with “report importance indicator” at: http://www.forexfactory.com/calendar.php
Tuesday, October 5th 2010 – http://mam.econoday.com/byweek.asp?cust=mam
Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures 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!
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