Levex Trading Algo, Mini S&P futures insight 8.20.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Last week I wrote about symmetry in the SP 500 and shared some support levels between 1885-1895. As it turns, these levels held well and the market has since bounced and bounced pretty powerful. To some this may bit surprising as there are just too many Geo political events out there that should have injected some risk premium into the markets but as I learn every day, there is no point of arguing or fighting price action….

At this point the main question is what next?

The next key level to observe is 1985.75, the high made on September SP 500 futures back on July 24th 2014. If we can get a close above that level, we may see another strong leg up as projected in the  chart below where I have taken the magnitude of the move up from lows made April 14th to highs made July 24th and projected into the future where you can see some possible levels in case we can get a close above 1986.

This is in addition for 3 bullish signals I like to use which appear in the chart ( diamond, + sign and my topaz indicator)

 

That being said, keep in mind the Geo Political environment is pretty fragile….

825

 

If you are interested in having a free trial to some of the ALGOs and indicators I display in the chart above such as the “diamond” topaz” and others, please visit:

https://www.cannontrading.com/tools/intraday-futures-trading-signals 

 

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. Past performance is not indicative to future results.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

 

Futures Trading Levels

Contract Sept. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1993.75 4071.00 17020 1173.63 82.35
Resistance 2 1986.75 4055.75 16959 1168.37 82.15
Resistance 1 1982.25 4046.25 16924 1163.73 82.04
Pivot 1975.25 4031.00 16863 1158.47 81.84
Support 1 1970.75 4021.50 16828 1153.83 81.72
Support 2 1963.75 4006.25 16767 1148.57 81.52
Support 3 1959.25 3996.75 16732 1143.93 81.41
Contract December Gold Sept.Silver Oct. Crude Oil September Bonds Sept. Euro
Resistance 3 1311.0 20.0 95.77 141 14/32 1.3406
Resistance 2 1307.3 19.8 95.07 141 3/32 1.3385
Resistance 1 1302.0 19.7 94.02 140 15/32 1.3355
Pivot 1298.3 19.5 93.32 140 4/32 1.3334
Support 1 1293.0 19.3 92.27 139 16/32 1.3304
Support 2 1289.3 19.2 91.57 139 5/32 1.3283
Support 3 1284.0 19.0 90.52 138 17/32 1.3253
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 378.5 559.3 1064.33 359.50 33.36
Resistance 2 375.8 559.2 1058.92 357.10 33.24
Resistance 1 374.0 558.8 1055.83 354.90 33.13
Pivot 371.3 558.7 1050.42 352.50 33.01
Support 1 369.5 558.3 1047.3 350.3 32.9
Support 2 366.8 558.2 1041.92 347.90 32.78
Support 3 365.0 557.8 1038.83 345.70 32.67
Economic Reports

source: http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date 4:10pm Currency Impact Detail Actual Forecast Previous Graph
WedAug 20 12:30am JPY All Industries Activity m/m -0.2% 0.6%
2:00am EUR German PPI m/m 0.0% 0.0%
4:30am GBP MPC Asset Purchase Facility Votes 0-0-9 0-0-9
GBP MPC Official Bank Rate Votes 0-0-9 0-0-9
6:00am GBP CBI Industrial Order Expectations 4 2
8:30am CAD Wholesale Sales m/m 0.4% 2.2%
10:30am USD Crude Oil Inventories -1.3M 1.4M
2:00pm USD FOMC Meeting Minutes
6:45pm NZD Visitor Arrivals m/m -0.3%
8:00pm AUD CB Leading Index m/m 0.2%
9:35pm JPY Flash Manufacturing PMI 51.7 50.5
9:45pm CNY HSBC Flash Manufacturing PMI 51.5 51.7
11:00pm NZD Credit Card Spending y/y 7.0%

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 judgment in trading