FOMC to Provide Futures Trading Market with Direction, September 21st, 2010

FOMC tomorrow around 2:15 Eastern time. Even before that we will start the day with some important housing 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. I am including 5 minutes chart from August 10th of this year, which was the last FOMC we had for your reference. Continue reading “FOMC to Provide Futures Trading Market with Direction, September 21st, 2010”

Futures and Commodity Trading Blog, September 20th 2010

Market finally broke to the upside but like always “tries to make it harder” for us traders…. The upside breakout lacked momentum and / or continuation, at least today. However, I have shifted my swing trading stance to cautiously bullish as long as SP500 can hold above 1105.75….

FOMC next Tuesday along with busy Thursday / Friday economic and speaking schedule.

Have a great weekend, take time to recharge the brain and “clean it” from all the ” I should have placed a stop at this price and i should have taken that trade” etc….Once a trader has a concept they feel good about, the rest of the battle is mostly mental one with yourself.

Continue reading “Futures and Commodity Trading Blog, September 20th 2010”

Commodities and Futures Trading Levels, September 16th 2010

Well by now this is the 3rd or 4th time we are knocking on 1122.75…..that means one out of two (in my opinion): Tomorrow morning reports help this market break this level and start another leg up towards 1157.00

OR…..

Market fails one more time against this level, fills the gap below ( 1105.75) before giving us some additional clues.

I would love to have the “correct answer” to give you but only time and price action will tell….

SP 500 Day Trading
SP 500 Day Trading

Continue reading “Commodities and Futures Trading Levels, September 16th 2010”

1122.75 Will be Decision Level to Break Upside, September 15th 2010

I wrote yesterday:

“Looks like 1122 should be a decision level based on the chart below.”

Well very similar comments today…… looks like 1122.75 should be decision level if we are to break upside, while 1105.75 to 1109.25 is the support to watch. Chart for your review below.

SP 500 Day Trading
SP 500 Day Trading

Continue reading “1122.75 Will be Decision Level to Break Upside, September 15th 2010”

Futures Stock Indicies Have Officially Rolled Over, September 13th 2010

December is now the front month for stock indices, currencies, financials and many other markets.

You should not be trading any September contracts.

Chart of Mini SP 500 for your review below ( December continuous chart)

Have a great weekend!

SP 500 Day Trading
SP 500 Day Trading

Continue reading “Futures Stock Indicies Have Officially Rolled Over, September 13th 2010”

Future Stock Indices Due for Rollover, September 10th, 2010

Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 9th at 8:30 am Chicago time from the September 2010 contract to the December 2010 contract. The month code for December is ‘Z’. It is recommended that all new positions be placed in the December contract as of Thursday’s trade date. Please close any open September Currencies positions by the close on Friday the 10th. Should you have any further questions please contact your broker.

Continue reading “Future Stock Indices Due for Rollover, September 10th, 2010”

Future Stock Indices Due for Rollover, September 9th, 2010

Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 9th at 8:30 am Chicago time from the September 2010 contract to the December 2010 contract. The month code for December is ‘Z’. It is recommended that all new positions be placed in the December contract as of Thursday’s trade date. Please close any open September Currencies positions by the close on Friday the 10th. Should you have any further questions please contact your futures broker.

Continue reading “Future Stock Indices Due for Rollover, September 9th, 2010”

The Return of Traders Should Make for Better Market Rhythm, September 8th, 2010

“An Odd Rhythm Today After the Long Weekend”

Market had some what of an odd rhythm today after the long weekend. We saw big moves in both currencies and bonds. I think that we should see clearer picture tomorrow as more traders will be back after Labor day + we have a few economic reports while today we did not have any reports.
Some levels to watch for tomorrows action from the hourly chart below.

SP 500 Day Trading
SP 500 Day Trading

Continue reading “The Return of Traders Should Make for Better Market Rhythm, September 8th, 2010”

Will Stock Index Futures Upside Momentum Continue?

“We are Trading Right Against a Major Retracement Level at 1106.50”

I mentioned a couple of days ago that this morning report will determine if we can reach the 1100’s on the SP. Well the answer turned out to be YES. As always in the futures business the current question of what’s next is more important than the previous one….

Well we are trading right against a major retracement level at 1106.50.

As long as pull backs do NOT break 1093, my bias is to the upside. Tuesday should be interesting as we should get an indication if the upside momentum has more legs or not.

Until then, enjoy the long weekend, recharge. Keep in mind the regular session is closed Monday but there is a night session Sunday night and Monday night. More info below.

SP 500 Day Trading
SP 500 Day Trading

Holiday schedule at:
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Continue reading “Will Stock Index Futures Upside Momentum Continue?”