Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 Friday August 9, 2013
For 2013 I would like to wish all of you discipline and patience in your trading!
Below is a screen shot of the Mini Sp 500 chart I shared during today’s session with clients and prospects during our live trading signals session
As I mentioned before, when we have more volatility and two sided trading range, this ALGO model does very well.
It does not perform as well on strong trending days.
In the chart below you will see 3 confirmed signals. Once I get a red arrow or red diamond and price crosses below the green light = sell signal.
Once I get a green diamond or arrow and price crosses above the green line = buy signal.
As always, the hard part is where to take profits, stops etc. Which I will be happy to share more with those who are interested.
Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above
and be able to apply for any market and any time frame on your own PC ? You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.
If so, please send me an email with the following information:
1. Are you currently trading futures?
2. Charting software you use?
3. If you use sierra or ATcharts, please let me know the user name so I can enable you
4. Markets you currently trading?
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
On a different note: I am getting very nice feedback on the content of this blog from clients as well as prospects and I appreciate it! In return I would like to ask you to take a few minutes and post positive reviews on:
Google Plus ( you need to be logged in to your gmail account first)
You like the information we share? We would appreciate your positive reviews on Google+ , Facebook, Yelp etc…use the icons below to share, recommend, review us and more!
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
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.
|Contract Sept. 2013||SP500 (big & Mini)||Nasdaq100 (big & Mini)||Dow Jones (big & Mini)||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Sept. Silver||Sept. Crude Oil||Sept. Bonds||Sept. Euro|
|Resistance 3||1355.4||2143.0||107.83||135 18/32||1.3489|
|Resistance 2||1334.6||2087.0||106.40||135 3/32||1.3446|
|Resistance 1||1323.6||2057.5||105.09||134 22/32||1.3416|
|Support 1||1291.8||1972.0||102.35||133 26/32||1.3343|
|Support 2||1271.0||1916.0||100.92||133 11/32||1.3300|
|Support 3||1260.0||1886.5||99.61||132 30/32||1.3270|
|Contract||Dec Corn||Sept. Wheat||Nov.Beans||Dec. SoyMeal||Dec. bean Oil|
|FriAug 9||2:45am||EUR||French Industrial Production m/m||0.3%||-0.4%|
|EUR||French Gov Budget Balance||-72.6B|
|4:00am||EUR||Italian Trade Balance||4.22B||3.90B|
|10:00am||USD||Wholesale Inventories m/m||0.5%||-0.5%|
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