Price Action

Lighter Volume into the New Year & Support and Resistance Levels 12.29.2021

December 28th, 2021 Filed under Future Trading News | Comment (0)

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The last few trading days of 2021 have seen much lighter volume, a bit choppier price action as many of the larger traders and institutions took off the time right before Christmas and will return next week.

Understand the type of market environment you are in and how it affects trading in the markets you trade.

Markets will have NORMAL TRADING HOURS Thursday, Friday and Monday.

Happy Holidays and a prosperous new year from the Cannon Trading Team!

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

12-29-2021

Futures Support and Resistance Levels 12-29-2021

Economic Reports, Source:

https://bettertrader.co/

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 here in 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 judgement in trading.

Key Resistance Level in Futures Trading Price Action | Support and Resistance Levels

August 29th, 2011 Filed under Futures Trading, Trading Guide | Comments Off on Key Resistance Level in Futures Trading Price Action | Support and Resistance Levels

Market rallied close to 3% on the SP and Dow Jones. Again it did so on much lighter volume than when it sold off last few weeks but nonetheless one CANNOT argue with price action. We are approaching the 50% retracement level from the highs made on July 8th to lows made Aug 9th. That level on the mini SP is 1212.50. I believe that the 1212 to 1219 zone is an important resistance level to watch. If we break above it with meaningful volume, it may be a sign of further room to the upside, on the other hand if we fail against it and volume picks up with price action going lower, it may be a sign of resumed selling. As always in our business… time will tell. Plenty of economic reports this week, both in the US and in Europe. Last but not least it is the end of the month…. Wishing you great trading this week and Daily chart of the mini SP 500 for your review below.