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Dear Traders,
I have touched about this topic before in different ways but definitely worth revisiting.
I call it: “There is more to daytrading futures than the mini SP 500….”
When we first started offering online futures trading, back in 1997, mini SP was the king.
Stock index futures had more volatility, the market was actually moving both up and DOWN..and it was the first electronic contract. 20 years later, there are almost no pits….ALL markets are electronic, stocks been going up, almost in a straight line and we are in zero rates/ zero volatility type of environment. I am sure this will change, big question is when.
Until it does….if you have not already done so here are a few pointers I am throwing at you for further thought, exploration:
- Crude oil, gold are quite a bit more volatile and move both up and down. Take a look, try in demo mode.
- Bonds and grains offer different type of personality than some of the other markets. Again, try it in demo mode, learn contract specs and behavior.
- Weekly options are now available on major markets. I like some of the advantages these options have offer straight futures as well as the combination one can use. Read more here.
- There new contracts ( some are not that new but worth mentioning) VIX futures are an interesting product. Currency futures been around for years and are a better vehicle in my opinion than FOREX.
- Consider adding automated systems to your portfolio.
I am sure there is more but hope these few pointers will help you explore trading the right way.
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.
Futures Trading Levels
10-17-2017
| Contract December 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | BitCoin Index |
| Resistance 3 | 2565.75 | 6151.50 | 23012 | 1525.63 | 6233.10 |
| Resistance 2 | 2561.75 | 6136.50 | 22959 | 1520.07 | 6015.75 |
| Resistance 1 | 2558.75 | 6128.00 | 22927 | 1512.23 | 5869.01 |
| Pivot | 2554.75 | 6113.00 | 22874 | 1506.67 | 5651.66 |
| Support 1 | 2551.75 | 6104.50 | 22842 | 1498.83 | 5504.92 |
| Support 2 | 2547.75 | 6089.50 | 22789 | 1493.27 | 5287.57 |
| Support 3 | 2544.75 | 6081.00 | 22757 | 1485.43 | 5140.83 |
| Contract | December Gold | Dec. Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1321.7 | 17.81 | 53.40 | 154 23/32 | 1.1895 |
| Resistance 2 | 1315.1 | 17.65 | 52.89 | 154 13/32 | 1.1877 |
| Resistance 1 | 1305.8 | 17.45 | 52.38 | 154 5/32 | 1.1855 |
| Pivot | 1299.2 | 17.29 | 51.87 | 153 27/32 | 1.1837 |
| Support 1 | 1289.9 | 17.09 | 51.36 | 153 19/32 | 1.1815 |
| Support 2 | 1283.3 | 16.93 | 50.85 | 153 9/32 | 1.1797 |
| Support 3 | 1274.0 | 16.73 | 50.34 | 153 1/32 | 1.1775 |
| Contract | Dec. Corn | Dec. Wheat | November Beans | Dec. SoyMeal | Nov. Nat Gas |
| Resistance 3 | 355.3 | 448.3 | 1004.08 | 331.03 | 3.05 |
| Resistance 2 | 354.0 | 445.5 | 1001.17 | 329.57 | 3.02 |
| Resistance 1 | 352.3 | 441.0 | 996.08 | 327.03 | 2.99 |
| Pivot | 351.0 | 438.3 | 993.17 | 325.57 | 2.95 |
| Support 1 | 349.3 | 433.8 | 988.1 | 323.0 | 2.9 |
| Support 2 | 348.0 | 431.0 | 985.17 | 321.57 | 2.88 |
| Support 3 | 346.3 | 426.5 | 980.08 | 319.03 | 2.85 |
Economic Reports, source:
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.