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Category: Future Trading News

As a high risk trading type, futures trading is not for someone who is faint-hearted. Though there are a number of different ways of investing in futures , it is important to stick to what you know. Treading into unknown waters is not something that you should do when dealing in futures.

From managing margins to ordering trades to doing market analysis and more if you want to, you can do that all by yourself – but you may betaking double the risk. Therefore, when trading in futures, it may be better to seek advice from a professional trader.

Professional trading experts at Cannon Trading can help you with your futures trading. We are also there to keep you updated with the latest on futures trading and market news. All the news and latest articles on futures trading are published on our site under the category Archive Futures Trading News, which you are currently browsing through. Read more and the latest here and keep updated.

FOMC Statement November 2nd 2011 | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. FOMC Statement Reminder
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

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1. FOMC Statement Tomorrow!

If the first day of November is an indication of what to come….then hang on as it may be a wild ride…..

FOMC tomorrow and before that more than a few economic numbers.

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement. However, with tomorrow early morning reports and recent volatility, we may see wild action through out.

HEADS UP – NORMALLY FOMC COMES OUT AT 2:15 EASTERN TIME. TOMORROW IT WILL BE OUT 12:30 EASTERN TIME

One advice everyone can benefit from is, reduce your trading size in proportion to the increase in volatility. This should help your comfort level while in the day-trade.

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2. Support & Resistance Levels for the S&P 500, NASDAQ, DJIA, and Russell 2000

Contract (Dec. 2011) SP500
(big & Mini)		 Nasdaq100
(big & Mini)		 Dow Jones
(big & Mini)		 Mini Russell
Resistance Level 3 1246.83 2355.67 12175 765.27
Resistance Level 2 1238.02 2336.33 12046 751.73
Resistance Level 1 1227.63 2320.67 11828 733.27
Pivot Point 1218.82 2301.33 11699 719.73
Support Level 1 1208.43 2285.67 11481 701.27
Support Level 2 1199.62 2266.33 11352 687.73
Support Level 3 1189.23 2250.67 11134 669.27

Continue reading “FOMC Statement November 2nd 2011 | Support and Resistance Levels”

Wishing all of you a great trading month in November! | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

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1. Market Commentary

Wishing all of you a great trading month in November!

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2. Support and Resistance Levels

Contract (Dec. 2011) SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell
Resistance 3 1280.67 2415.33 11945 775.97
Resistance 2 1273.93 2400.67 11928 767.43
Resistance 1 1259.47 2378.33 11913 751.07
Pivot 1252.73 2363.67 11896 742.53
Support 1 1238.27 2341.33 11881 726.17
Support 2 1231.53 2326.67 11864 717.63
Support 3 1217.07 2304.33 11849 701.27

Continue reading “Wishing all of you a great trading month in November! | Support and Resistance Levels”

Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels

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1. Market Commentary

The market has exhausted me and I feel some what “drained” by the events that’s taken place in the market, so initially I wasn’t going to write anything other than wish you good trading but then decided to write a few words on that topic exactly….

Trading is not something you can do at 50% or 70%…You must be 100% focused, 100% alert, 100% NOT distracted etc.

Too many times, traders will try to day trade while doing other things, being distracted, maybe not 100% focused in result of markets punishing them.

So as hard as it may be and I know it is, if you know that on a certain day or time, you will be distracted by other things or your attention will be needed some where else or maybe you just don’t feel like yourself and feeling more tired than usual…THAN what separates “the man from the boys” is the ability to say” Today I am NOT going to trade” understanding that no trade is better than a bad trade is a big part of capital preservation which is a key for survival and hopefully success to follow. Continue reading “Support and Resistance Levels”

Trading Levels & Economic Reports for 10-20-2011

Posted on by Ilan

 

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart

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1. Market Commentary

Volatility remains high and what I wrote yesterday, still holds:

As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

One more point that I would like to add that have helped me when I followed and hurt me when I ignored…

When volatility is higher than normal, like we have now, I try to REDUCE my trading size. This allows me to stay in a trade with higher comfort level instead of getting out too soon from winners and too late from losers….The principal is correct regardless of volatility but even more so when markets experience fast and sharp moves. Continue reading “Trading Levels & Economic Reports for 10-20-2011”

Trading Levels & Economic Reports for 10-19-2011

Posted on by Ilan

In this post: 1. Market Commentary 2. Support and Resistance Levels 3. Daily Mini Mini S&P 500 Futures Chart divider black 190

1. Market Commentary

Tremendous volatility across the markets today with some news out of Europe moving most markets much higher. As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks. Fast and furious moves like we have seen today encourage me to revisit the point of using AUTO stops when day trading. Many traders will disagree with me but I have seen the markets make such fast moves that by the time one decides where and when to place a stop…the market already made a very powerful move against you. I think that as a day trader who is looking to only make a few ticks on the trade, you should decide on the appropriate worst case scenario stop ( measured in ticks or $$) and use your trading software to place these stops and/ or targets as soon as you enter your position. Most of our trading platforms have that feature and your broker will be more than happy to review it with you. Continue reading “Trading Levels & Economic Reports for 10-19-2011”

Report May Lead to Large Market Moves | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Notice to the Futures Trader
4. Economic Reports

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1. Market Commentary

The main thing about tomorrows report is the MARKET PERCEPTION of the data….

If the market takes the data in a positive way, we may see 1175 and maybe higher on the mini SP 500, on the other hand if the market “does not like the data”…then 1129 will be the first stop on the way down.

By the way you can listen to the SP500 squawk box live tomorrow ( you can login before the market open and listen to the un employment data as it comes out live.)

The trial is open this week and will be available until market close on Oct.7th so visit: traderaudio.com to start listening now.

Username: open

Password: squawk

Continue reading “Report May Lead to Large Market Moves | Support and Resistance Levels”

Watch for the Friday Unemployment Report | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Russell 2000 Futures Chart
4. Economic Reports

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1. Market Commentary

The long signal we got yesterday after the close ( which I shared on this blog yesterday afternoon) turned to be valid.

What stands in the way of more meaningful rally is this friday morning unemployment report.

If the market takes the data in a positive way, we may see 686 followed by 726 on the mini Russell daily chart below. But that’s a big if and time will tell…

By the way, you can listen to the SP500 squawk box live tomorrow and Friday ( you can login before the market open and listen to the data as it comes out live.)

The trial is open this week and will be available until market close on Oct.7th so visit: traderaudio.com to start listening now:

Username: open

Password: squawk

Daily chart of Mini Russell 2000 for your review below: Continue reading “Watch for the Friday Unemployment Report | Support and Resistance Levels”

What to do in Market Conditions of High Volatility and Increased Range | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports

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1. Market Commentary

Big volume day. We made new lows but then reversed and rallied strong into the last hour.

Bear market rallies can be pretty vicious…. If we would have taken out yesterdays high on this rally, the buy signal you see in the chart below would have been pretty powerful, but as is if this market can maintain the “legs” it showed today, we can see a test of 1154.

Should be another interesting trading day tomorrow.

Regardless of the market direction, understand that as volatility and ranges increase, one needs to adjust their trading size LOWER in order not to get “stopped by noise”.

Below is a daily chart of the mini SP Continue reading “What to do in Market Conditions of High Volatility and Increased Range | Support and Resistance Levels”

October Markets May Revisit August Lows | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports

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1. Market Commentary

First trading day of October started negative for stock indices and it seems that a retest of 1070 lows from August is on the way.

October however, started very positive for my day-trading model/ ALGO.

What you see below is a screen shot from the last hour or so of trading on the mini SP. You will notice DIAMONDS markings on the chart. These markings appear BEFORE THE BAR STARTS and are an output of what I have been working for over two years in an attempt to find an indicator that is LEADING by nature and NOT LAGGING….obviously not all days are as powerful as what you see in the chart below but for me this has been the one day-trading tool I have the most confidence in so far.

The DIAMONDS ALGO and a few other studies are available for traders to try using sierra charts, where one can apply the ALGO on different markets and different time frames at anytime on their PC (my recommended method) and/or via my webinar, where one is limited to see the few charts I share during US stock market hours. You can have a trial of either one if you have NOT had one before. Continue reading “October Markets May Revisit August Lows | Support and Resistance Levels”

Market Analysis of the S&P500 PIT Session Hourly Chart | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports

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1. Market Commentary

I am back talking about the gaps and the PIT session SP500 as I have been for the last few days.

We closed the gap at 1159 going down today and a look at hourly chart suggest that the short term gaps are all filled. Bit oversold on the downside but overall my indicators suggest short to medium term further downside pressure – however the market will need to take out 1070 before we can see another leg down, until then we should see volatility both ways. Continue reading “Market Analysis of the S&P500 PIT Session Hourly Chart | Support and Resistance Levels”

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.