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The FED keeps pumping money through its “Quantitative Easing” and the market continues to bounce higher.
Not sure how long this “game” will continue but a technical overview of the mini Russell (which I feel is the leader amongst indicies) is below for your information.
Continue reading “Futures Trading Levels & Economic Reports for October 14th 2010”
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:
Continue reading “Commodity Trading Levels for October 5th 2010”
I wish all of you a great futures trading month in October.
The saying for day-traders in October should be: NO TRADE IS BETTER THAN A BAD TRADE
For your review, monthly chart of the Dow Jones Cash Index below.
Continue reading “Monthly Chart of Dow Jones Industrial Average, Oct 1st, 2010”
I wanted to share some of today’s activity we had in the daily webinar service I hold. The “webinar” is a service I offer, where I share mostly the mini SP chart but also other markets like Euro currency, Crude Oil and Mini Russell.
In the webinar I display my charts, trading indicators, trading algorithm, trade management philosophy, risk management and more.
Some days i also provide live trading examples using my demo, like I did today.
Below you will see a segment from today’s webinar where the DIAMOND algorithm provided us with more than several trade set ups for 2 mini SP points each time.
For free trial and more information, visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals
( NO REPEAT TRIALS )
Our short “trigger” of 1123 basis Dec. SP500 did not materialize and kept us out of a short swing position, so far for a good reason. I will keep watching for what I call price confirmation over the next couple of days.
On a different note, if you like to view my intraday chart of the mini SP 500, euro currency ( as in the screen shot below from today’s session) and sometimes other markets, along with my intraday buy and sell set ups, trading concept, money and trade management please visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals
( NO REPEAT TRIALS )
Daily chart of Mini SP below. As I mentioned last week, I got a couple of potential “sell signals” and the market only gave us a small decline if that. What is being referred to as “divergence”. Well…I got one more potential for market retracement.
This time the SP will have to drop below 1123 in order for me to enter a short swing position. I call it price conformation. Meaning I would like to see price action confirming my technical speculation. FIB levels on the chart will be used to determine potential targets, stops etc.
Continue reading “Price Levels for Futures Trading, September 28th 2010”
I got two “false” sell signals before this last one….I think the fact that we went through the first FIB level gives this short swing trade higher chances of being correct with initial target of 617.10.
Since NONE of us have a crystal ball, one always has to calculate the proper stop or risk allocated for the trade and see if it makes sense based on ones account size, risk tolerance etc.
For this specific one, I would conclude that my short trade is wrong if we trade above 660.
Continue reading “617.10 is Initial Target for FIB Level for Futures Trading, September 24th 2010”
FOMC is behind us. Mixed reaction from the market and many times the real direction will show the next day, so tomorrows price action is important to watch. My indicators suggest that as long as we can hold the 1115 level, we still have a shot at more upside move. However a break below 1115 on mini SP along with continued upside in bond market may suggest temporary top. Time and price will tell.
Continue reading “Watch for Price Action the Day After FOMC, September 22nd 2010”