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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 February 2, 2016
Hello Traders,
For 2015 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.
Continue reading “Spotting Clues Day Trading Futures 2.02.2016”