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TriPPPle witching tomorrow!
Stock Index September contracts (i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.) expire Friday, Sept. 20th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any September futures contracts through 8:30 A.M., Central Time on Friday, they will be offset with the cash settlement price, as set by the exchange.
FRONT MONTH IS NOW DECEMBER , the symbol is Z24, example for mini SP is ESZ24
Plan your trade and trade your plan
December Dollar Index
The December dollar broke down into a new low and came close enough to satisfy the third downside PriceCount objective. The chart is reacting with a corrective trade higher which is a normal response. IF you can resume the break with new sustained lows from here, we are left with the low percentage fourth count to aim for in the 97.00 area.
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Daily Levels for September 20, 2024
Economic Reports
provided by: ForexFactory.com
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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.