Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 May 21, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Volume has been pretty pathetic these past few weeks…somewhat scary to think of new highs being made on such light volume….It will sure be nice when the FEDS steps out of the market and let free market forces return to action. My guess that time will come sooner than later….
Memorial Day weekend is this weekend, please visit holiday trading hour at:
Also on a different note, here is the latest round of results from an auto traded system we MANAGE for clients ( i.e no action required on behalf of client once you decide to join BUT you can see trades in real time if you like).
This system is up approximately 94% in profits since inception of live trading in January 2014!! NET (assuming you started Jan 2nd 2014 with $21,000 and took all trades every month)
If you have an interest, please reply to this email or call us at 800-454-9572:
STARTER System performance
NET, for clients’ live accounts trading the entire month’s trades and after deducting commissions and system fees
Recommended Account Size: $21,000; minimum: $18,000
About ExitPoints’ STARTER System:
These are intraday breakout systems that trade from a portfolio of futures markets – 20 markets for SCORE and 7 markets for STARTER. The systems trade only one trade per market per day and all trades are exited by the end of the day’s trading session.
For STARTER, the average number of trades per month for the portfolio of 12 markets is 1 round turns, or trades per day (based on a 5-year study).
These systems are auto-traded based on trading instruction files the developer sends over to Cannon Trading. The files’ trading instructions are downloaded to a platform and auto-executed on behalf of our clients’ accounts – under a letter of direction agreement.
* STARTER (Bold)
6A – Aussie Dollar
NG -Natural Gas
ZB – 30- year T-bonds | ZS – Soybeans | ZW – Wheat
David T. “Dave” Register attended North Carolina State University at Raleigh starting in 1965. He initially majored in mathematics and eventually graduated with honors with a degree in physics and then earned a Masters degree in statistics in 1974.
He began his professional career working for Lockheed and the Johnson Space Center. After the first few years working on early projects, he was named a Principle Scientist – Lockheed’s highest technical level. He went on to design a management information system for Nasa’s Shuttle Program and was appointed manager of the Shuttle Tape Recorder Laboratory, which involved developing the computer program that recorded all the data, voice and payload data during the shuttles’ flights. He then became a founding member of Lockheed’s scientists specializing in developing “expert systems” – the equivalent to artificial intelligence -which were computer programs designed to mimic the decision making skills of experts in a given field.
Along the same time line, Dave had been interested in stocks and futures as a private investor and in 1986, he read A. J. Frost’s & Robert Prechter, Jr.’s Elliott Wave Principle, the definitive work on scientific wave theory. In Dave’s words, “All the skills in pattern recognition, statistics and expert systems that I had acquired were suddenly connected and applicable . . . ” That same year, Dave was hired by Robert Prechter to work at Elliot Wave International (EWI) and to head the EWAVESTM project, essentially programming an expert system based on Elliott Wave Principle, which is still utilized by EWI today.
After working on EWAVES continuously between 1986 and 1999, Dave spent nearly 4 years away from EWI, applying his years’ work and experiences to trading futures and developing and building trading systems. In 2003, he began his work with ExitPoints and in February 2013, he turned his full time focus on the trading systems at ExitPoints. “All my skill as a statistician, knowledge engineer, and commodities analyst has been poured into the ExitPoints systems.”
To further quote Dave’s auto-bio. on ExitPoints’ web site, he has “acquired the experiences and skills that make [him] uniquely qualified to develop expert trading systems that are mechanical, artificially intelligent, and perform extraordinarily well across a broad spectrum of futures markets.”
This is a subscription-based trading system. There are no “account management” fees and no percentage amounts deducted from profitable results.
$200 per month to trade all of the markets traded above with one contract per each daily signal for STARTER
For STARTER commissions are $25 per round turn + applicable exchange fees
For STARTER Recommended: $21,000; minimum: $18,000
Forward and back tested results are available
Developer page: www.exitpoints.com
This trading system, like any other, may involve an inappropriate level of risk for prospective investors. THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CAN BE SUBSTANTIAL AND MAY NOT BE SUITABLE FOR ALL INVESTORS. Prior to purchasing or leasing a trading system from this or any other system vendor or investing in a trading system with a registered commodity trading representative, investors need to carefully consider whether such trading is suitable for them in light of their own specific financial condition. In some cases, futures accounts are subject to substantial charges for commission, management, incentive or advisory fees. It may be necessary for accounts subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets. In addition, one should carefully study the accompanying prospectus, account forms, disclosure documents and/or risk disclosure statements required by the CFTC or NFA, which are provided directly by the system vendor and/or CTA’s.
The information contained in this report is provided with the objective of “standardizing” trading systems performance measurements, and it is intended for educational /informational purposes only. All information is offered with the understanding that an investor considering purchasing or leasing a system must carry out his/her own research and due diligence in deciding whether to purchase or lease any trading system noted within or without this report. This report does not constitute a solicitation to purchase or invest in any trading system which may be mentioned herein.
The risk of trading can be substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not necessarily indicative of future results.
Transactions in securities futures, commodity and index futures and options on futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract, meaning that transactions are heavily “leveraged”. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the clearing firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting
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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|Contract June 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||June Gold||July Silver||July Crude Oil||June Bonds||June Euro|
|Resistance 3||1224.9||17.63||60.09||154 19/32||1.1248|
|Resistance 2||1219.1||17.46||59.56||153 31/32||1.1202|
|Resistance 1||1214.4||17.29||59.15||153 6/32||1.1158|
|Support 1||1203.9||16.94||58.21||151 25/32||1.1068|
|Support 2||1198.1||16.77||57.68||151 5/32||1.1022|
|Support 3||1193.4||16.60||57.27||150 12/32||1.0978|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||June Nat Gas|
|ThuMay 21||3:00am||EUR||French Flash Manufacturing PMI||48.6||48.0|
|EUR||French Flash Services PMI||52.0||51.4|
|3:30am||EUR||German Flash Manufacturing PMI||51.9||52.1|
|EUR||German Flash Services PMI||53.9||54.0|
|4:00am||EUR||Flash Manufacturing PMI||51.8||52.0|
|EUR||Flash Services PMI||53.9||54.1|
|7:30am||EUR||ECB Monetary Policy Meeting Accounts|
|9:45am||USD||Flash Manufacturing PMI||54.6||54.1|
|USD||Existing Home Sales||5.23M||5.19M|
|USD||Philly Fed Manufacturing Index||8.3||7.5|
|USD||CB Leading Index m/m||0.3%||0.2%|
|10:30am||USD||Natural Gas Storage||100B||111B|
|1:30pm||EUR||ECB President Draghi Speaks|
|USD||FOMC Member Fischer Speaks|
|7:00pm||USD||FOMC Member Williams 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.