Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Cannon Trading / E-Futures.com
I wrote yesterday:
“I got a short term sell set up on SP 500 as you can see in the daily chart below of the SP500 ( pit session or day session only)”
Well we got our first target right around 1338 during todays session. Next levels on the way down are 1329 and 1319.75
if we bounce, 1349, 1355 and 1367 will be resistance levels to watch.
Every day i hold a service, called live charts service.
The service includes my sharing of my intraday charts in real time along with possible buy/ sell signals, review of longer term time frames, discussion about money and trade management and much more.
The service starts DAILY at 8:30 AM central time and runs until 15:00 central time.
I share Mini SP, Euro and crude oil charts. Below you will see some of the signals we had today for crude oil ( which was a good day with 4 winners out of 6 signals….).
If you did not have a trial yet and would like a free 2 weeks trial, please email me or visit:
Daily mini S&P trading chart screenshot from today May 4rd 2011
Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and does not guarantee any profits.
These are risky markets and only risk capital should be used.
Past performance is not necessarily indicative of future results.
Economic Reports Thursday May 5th, 2011
Prelim Nonfarm Productivity q/q
Prelim Unit Labor Costs q/q
FOMC Member Evans Speaks
Fed Chairman Bernanke Speaks
Natural Gas Storage
Economics Report Source: http://www.forexfactory.com/calendar.php
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!