Charts & Indicators Archives - Support & Resistance Levels

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Category Archives: Charts & Indicators


Coffee Outlook, Beige Book and Crude Oil Numbers + Levels for April 17th

April 16th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, Grain Futures, Indices | Comment (0)

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Powell spoke and stock index futures traded in a volatile, zig zag type of trading most of the day unable to break one way or the other and closing near the unchange.

On the daily chart, both the SP and NASDAQ are noticing more pressure to the downside.

One of the keys for day Traders is to try and establish early on what type of day trading environment they are in.

Is this going to be a trend day it is this going to be a choppy low volatility trading day? is the day unfolding has a potential to be a volatile two-sided type of trading day?

Being aware of the top of trading day that is unfolding in front of you can help you decide which strategies to apply on that trading day.

Knowing what reports are coming out. the general direction of the long term charts can help you.

Different strategies will work better in different type of trading environments.

On a different note, softs, i.e. Cocoa, cotton, Coffee , Sugar, OJ are experiencing much higher volatility than historical norms. Cocoa just dropped close to 8% today after trading above the historical mark of $100 per metric ton.

below you will see a daily chart of Coffee futures and possible future direction.

 

 

 

 

Daily Levels for April 17th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

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* 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.


How Important is Hedging for Farmers? + Levels for April 16th

April 15th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, Grain Futures | Comment (0)

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This week we will see a number of fed speakers,

Tomorrow

Live @ 12:15CDT Link to Discussion With Jerome Powell we are providing this link for those that will watch the market and listen simultaneously

 

A bit of a departure from the usual Monday blog bites. The planting season in the northern hemisphere is under way so a quick review of the importance of Hedging follows:

How Important is Hedging for Farmers?

For farmers, especially those involved in producing commodities like wheat, corn, soybeans, and livestock, the prices of these products can fluctuate significantly due to various factors such as weather conditions, global demand, geopolitical events, and market speculation. These fluctuations can directly impact a farmer’s profitability and financial stability. Here’s why hedging is so important:

  • Price Stability: Futures trading allows farmers to lock in prices for their produce or livestock at predetermined levels, providing them with a sense of stability and predictability in their revenue streams.
  • Risk Management: By hedging, farmers can protect themselves against adverse price movements. For example, if a farmer expects the price of corn to decrease before their harvest, they can take a short position in corn futures to offset potential losses.
  • Budgeting and Planning: Knowing the approximate revenue from their crops or livestock enables farmers to budget effectively, plan future investments, and manage expenses with more confidence.
  • Access to Capital: Having predictable revenue streams through hedging can make it easier for farmers to secure financing from lenders as they demonstrate a more stable financial outlook.
  • Competitive Advantage: Farmers who hedge can often compete more effectively in the market by offering consistent pricing to buyers, thereby securing long-term contracts and relationships.
  • Futures trading serves as a powerful tool for farmers to manage price risk and ensure a more stable financial outlook. By hedging their crops like wheat, corn, soybeans, and livestock, farmers can mitigate the impact of market volatility, plan their budgets effectively, and compete more confidently in the agricultural sector. Understanding and implementing various hedging strategies empower farmers to navigate unpredictable market conditions while safeguarding their profitability.

 

 

 

Daily Levels for April 16th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Weekly Newsletter: May Crude Oil on the Move? & Trading Levels for April 15th

April 12th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Crude Oil, Futures Trading, Index Futures, Indices, Weekly Newsletter | Comment (0)

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Cannon Futures Weekly Letter Issue # 1189

In this issue:
  •  Important Notices – Earnings, Gold all time Highs & More
  • Trading Resource of the Week – Trading Videos
  • Hot Market of the Week – May Crude Oil
  • Broker’s Trading System of the Week – NQ Swing System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices –

    • Earnings Tues- JNJ,BAC ,Morgan Stanley MS, Wed. -ABT, Thu.- AXP, NFLX
    • Econ Data  Mon- Retail Sales , Tues Housing Starts, Bldg Permits , Thu. Jobless claims, Existing home sales..
    • quiet on the fed speaker front
    • No Congressional action to speak of
    • The U.S. dollar index this morning forged another higher high and reached the highest level since early November.
    • With the June gold futures contract breaking a string of new all-time highs (eight straight days) yesterday, the market is facing the first definitive corrective environment since the middle of last month.
    • The bearish sentiment in financial futures (30-yr. T-bond, 10-yr. T-note) is escalating dramatically and could become overdone soon with some chatter in the market suggesting there might not be a single rate cuts this year.
    • Crude oil may see support this week from renewed talk of an imminent Iranian retaliation (as per U.S. officials) for the Israeli attack in Syria. U.S. officials have openly suggested Iranian retaliation against Israel is likely soon. Fears of disrupted supply remain front and center.

 

 

 

 

Trading Resource of the Week: Trading Videos, Instant Viewing

Watch a series of short videos, where our VP, Ilan Levy-Mayer shares his personal preferences and opinions on different trading topics.
·    Ever wondered when to exit a trade? Take a look at what Ilan has to share on Bollinger Bands and a study called PARABOLICS
·    Some common uses you can make of support and resistance levels.
·    Filter out the noise with range bar charts
·    “Price Confirmation”

 

 

  • Hot Market of the Week – May Crude Oil
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
The March 20th Chart of the Day highlighted May crude oil had completed its first upside PriceCount objective. Now, the chart is consolidating after satisfying its second upside PriceCount objective. A this point, IF the chart can sustain further gains, the third count would project a possible run to the 94.82 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
  • Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Swing
COST
USD 299 / monthly
Recommended Cannon Trading Starting Capital
$75,000
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
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Daily Levels for April 15th 2024

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

Improve Your Trading Skills

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* 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.


Choppy Markets Today, (Tomorrow?) Ahead of CPI + Futures Trading Levels for 04.09.2024

April 8th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, Metal Futures | Comment (0)

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Markets Heat up MidWeek

by John Thorpe, Senior Broker

 

CPI Report Wednesday

The CPI report for March 2024 will be released by the Bureau of Labor Statistics on Monday at 7:30 a.m. CDT. As of February’s CPI report, annual inflation is 3.2%, or 3.8% excluding food and energy. That data compares with the FOMC’s annual inflation target of 2%.

What To Expect

These data set move the Equity, Bond, Metals and currency markets the most as the market drivers are directly related to what the FED will do next with Interest rates this summer. Provided inflation comes at a monthly rate close to 0.3% or lower for March, that should be sufficient for the FOMC to keep its plan to start cutting interest rates this summer. If the report shows a 0.4% monthly increase or greater, that would be a concern. It would suggest relatively high inflation readings seen in January, and to a lesser extent in February, are perhaps more of a trend. Here is your BLS CPI Data center https://www.bls.gov/cpi/

Monthly inflation at or below 0.2% would generally be considered positive news, perhaps giving more conviction to rate cutting plans. Still the CPI release is just one data point that the Fed will use to assess how inflation is trending. The FOMC will also keep a close eye on the jobs market, which so far has been strong enough to enable the Fed to be patient in considering interest rate cuts. A slowdown in job growth might matter for the Fed’s plans as much as upcoming inflation data releases.

 

 

 

 

 

Daily Levels for April 9th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


NFP Tomorrow + Futures Trading Levels for 04.05.2024

April 4th, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading | Comment (0)

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  • NonFarm Payrolls, NFP one of the biggest data points every month tomorrow @ 7:30CDT
  • Expectations are 200K added ( the market pays attention to the revisions equally)
  • Manage your capital well, take on less risk than you would during normal time frames.
  • 4 FED Speakers tomorrow Beginning @ 7:30AM CDT.

 

May Copper chart for your review below.

 

 

 

 

 

Daily Levels for April 5th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.

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Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
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