E-mini SP 500 Weekly Chart


Weekly Newsletter #1046 Commitment of Traders Report PDF., ES Market Review & Trading Levels 4.10.2021

April 9th, 2021 Filed under Indices, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1046

Dear Traders,

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Trading 102: Commitment of Traders Report – What Lies beneath
Commitment of Traders Report – COT
Commitment of Traders Report offers wealth of data when it comes to commodity and futures trading. You can somewhat say, this is a window into what the “big boys are doing” which is published weekly.
In this 24 page PDF booklet, Gary Kamen of Trends in Futures reviews the commitment of traders report, what it means, how traders can utilize it and much more.
Sign up and instantly download the booklet and learn about:
* History of the COT report
* Why is this report important?
* The new COT report
* How can you use the information in this report?
* And much more….
ES WEEKLY chart for your review. Click for larger image. New all time highs fueled by FED QE.
Next targets? Levels of support? will this past week slow price action continue or will the “speedy price action ” of weeks before return?
M S&P’s ( June mini SP 500)
4,101 OBJECTIVE has been met.
Market could have a retracement back
to 4075.00.
Next test area is 4145.00
No two Bull or Bear markets are alike. This pandemic is similar to 1918 (post WW1), which originated in China, unfortunately killing 50 million globally. The pent up demand led to the Roaring 20’s, which is the cycle we’re presently in. With the FED all in with unprecedented stimulus, we could see a 8-9% GDP number!
Q.E. is $120 billion a month, coupled
with the 3 stimulus packages and the new $2.2 trillion infrastructure in the pipeline. Also, the FED is allowing inflation to run hot, above their 2% target, using a weak US$, as its main catalyst. Lastly, the SHORT END may remain untouched for 2 years.
Eventually, the FED will lose control of the LONG END of the curve!
Future CAVEAT, is that we all know how the Roaring 20’s ended on Oct. 29, 1929.
Mini S&P ES Weekly Chart
Good Trading

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-12-2021

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

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 herein 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


Mini S&P Hits New Highs & Futures Levels & Economic Reports 12.19.2013

December 19th, 2013 Filed under Future Trading News, Futures Trading | Comments Off on Mini S&P Hits New Highs & Futures Levels & Economic Reports 12.19.2013

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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 Thursday December 19, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

We need your votes!!

I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

 

 

Trader Planet Award

 

Also keep in mind that March is now the front month for stock indices, financials, currencies and grains!
What a wild ride today following the FOMC !!

Two charts for your viewing pleasure….one is an 8 tick range bar of the mini SP. Note it took the market 4 hours to complete the same range ( volume as well) it did in about 2 minutes right after FOMC ( if you read my blog yesterday, you hopefully listened and stayed out of the market during the minutes before and right after as I feel it is a pure gamble) –  so first chart just to demonstrate the volatility after the report.

 

ESh4 2.00 mg #2 E-Mini SP

ESh4 2.00 mg #2 E-Mini SP

Second chart is a daily chart of the March mini SP along with possible levels both above and below.

 

 

EP - E Mini S&P 500, Equalized Active Daily Continuation

EP – E Mini S&P 500, Equalized Active Daily Continuation

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Mini S&P Daily Chart, Futures Levels & Economic Reports 12.17.2013

December 16th, 2013 Filed under Future Trading News, Futures Trading | Comments Off on Mini S&P Daily Chart, Futures Levels & Economic Reports 12.17.2013

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 December 17, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Busy week ahead! Many diff. reports coming out this week with FOMC decision this Wednesday.

We saw some volatility in the overnight session on the SP 500 but very tight range once the cash market opened.

As far as market outlook, we are at a junction again, like we were back on Nov. 8th when the market declined for a bit and then made a new low only to close much higher. We saw similar action today ( I circled both today’s and Nov. 8th ). The big question is if new highs are awaiting or is this is just a bounce. I think answers will come by the end of the week ( might be too late, I wish we knew the answer in advance) but for now I am treating this market as a very wide decision channel between today’s lows at 1754 and recent high at 1805.75 basis the March contract.

 

Chart for your review below:

EP - E Mini S&P 500, Equalized Active Daily Continuation

EP – E Mini S&P 500, Equalized Active Daily Continuation


New Highs for S&P, Futures Levels & Economic Reports 11.14.2013

November 13th, 2013 Filed under Future Trading News, Futures Trading | Comments Off on New Highs for S&P, Futures Levels & Economic Reports 11.14.2013

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 November 14, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

New highs on the SP500…..

 

I have drawn the extensions in the chart below last week…will be interesting to see if price respects those levels or not…I guess we can find out as early as tomorrow….

EP - E-Mini S&P 500, Equalized Active Daily Continuation

EP – E-Mini S&P 500, Equalized Active Daily Continuation

 

On a different note:

  • My opinion is that there are 3 main types of trading days.

 

  1. Most common is two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought /oversold indicators.
  2. Strong trending day, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.
  3. Slow and/ or choppy trading day – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.

 

  • Good question is how can one asses what type of trading day we will have while the market is still trading….I am doing some work about it and will be happy to hear feedback via email but here are some initial observations:
    1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session ( primary session is when the cash/ stock market is open).
    2. Mondays have the highest chance for trending days.
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes have good volume, better chances for type 1 or type 2 trading days.
    5. low volume during first 30 minutes can suggest a choppy (type 3 trading day).

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