Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Tuesday Sept. 14th insight by Austin LaChapelle, Cannon Futures Broker:
It seems institutions are on the sidelines waiting for the fed announcement next week. Maybe the quad witching will give an opportunity to go long the index futures into the FOMC meeting.
I see an opportunity to go long the Nasdaq futures
at 15150 – That is my personal bias. That being said I am waiting in the weeds for ES futures
. We are nearing points in the ES that I am going to call very important pivotal areas.
We have 4437.50-4439 and 4426-4427. Offers below both of those levels could get things rolling for a real nice sell off. Will you be ready?
Another market that I am looking at, is crude oil futures
. I am looking ( again this is my personal opinion) to get short around 71.20 hopefully the report tomorrow will be the catalyst to get into the trade.
Right now I prefer trading the December contract and sometimes you get a little squeeze into the expiration of the front month. We will see if we can get these to align to hit my target below 68.85.
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future results.
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Posted in: Future Trading News