Economic Trading

Category Archives: Economic Trading


Crude Oil Futures & Economic Reports 5.07.2015

May 6th, 2015 Filed under Economic Trading, Future Trading News, Futures Trading | Comment (0)

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday May 7, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders, 

Why I Like to Use Tick and Volume Charts for Scalping

Today, I decided to touch more on an educational feature rather than provide a certain market outlook.

Many of my clients and blog readers know that when it comes to short-term trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.

My rule of thumb is that if you as a trader who makes decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using other type of charts like volume charts, Range charts etc.

Volume charts will draw a new bar once a user defined number of contracts traded. An example is the mini SP 10,000 volume chart which will draw a new bar once 10,000 contracts are traded.

Range bar charts will draw new charts once price action has exceeded a user’s pre-defined price or ticks range. An example might be an 18 ticks range bar chart on crude oil.

While volume charts rely ONLY on volume, the range bar charts rely ONLY on price action.

Their main advantage over traditional time charts is twofold in my opinion:

If the market is moving fast, reports have come out or there is heavy volume in the market, the traditional 5 minute chart will need 5 minutes to complete the next bar before it provides you with a signal…if you have day traded futures before you know what 5 minutes can do to these markets….The volume charts or range bar charts in this case will complete the bars MUCH faster because there is strong price action and strong volume and will be able to provide a signal faster than the time charts.

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Futures Levels & Economic Reports 5.05.2015

May 4th, 2015 Filed under Economic Trading, Future Trading News, Futures Trading | Comment (0)

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday May 5, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

TradeTheNews.com Weekly Market Update: Markets Unwind into May

Fri, 01 May 2015 16:03 PM ESTGlobal equities felt the pull of gravity this week as indices in Asia, Europe, and the US came off recent all-time highs. Meanwhile, in a development that caught investors’ attention, European and US sovereign bonds sold off hard on a confluence of factors. Talks between Greece and its creditors continued at a frustratingly slow pace. The first reading on US Q1 GDP was quite disappointing. The Fed acknowledged the weak first quarter by downgrading the economic conditions commentary in the FOMC policy statement, but continued to attribute the slow growth to transitory factors. Despite oil prices continuing to rebound, the BOJ reigned in its inflation outlook, pushing back the timing of achieving 2% inflation until early 2016. Speculation about more extraordinary Chinese stimulus that helped fuel recent rallies couldn’t stem the selling this week. For the week, the DJIA slipped 0.3%, the S&P500 fell 0.5% and the Nasdaq lost 1.7%.During Monday’s Asian session, financial press sources reported that the PBoC was mulling its own brand of QE asset purchase program that would let commercial banks swap local-government bonds they hold for loans from the central bank to help stave off a potential credit crunch. The Shanghai Composite rocketed up 3% on the report, but an official denial from the PBoC tempered Chinese equity gains. Beijing has already been trying to mop up the ballooning debts of local governments under a debt exchange program, without too much success. Later in the week, PBoC Deputy Governor Yi Gang said that the RRR rate was relatively high, leaving plenty of room for another cut. Read the rest of this entry »


FOMC Results & Futures Levels 4.30.2015

April 29th, 2015 Filed under Economic Trading, Future Trading News, Futures Trading | Comment (0)

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday April 30, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

FOMC came and gone, Fed did not supply any new clues about timing for future rate increase and market volatility was a bit less than other FOMC meetings.

Many times the real reaction comes over night, the next trading day. Be ready for a possible volatile day tomorrow. The futures trading business is not an easy one, one moment of losing control, one moment of not following your rules can be very costly.

Make sure that every morning / start of trading day you are ready to trade. If you are sick, if your kids are home and taking your attention, master the level of maturity to tell yourself: “I should not be trading today”.

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Economic Reports & Futures Levels 4.29.2015

April 28th, 2015 Filed under Economic Trading, Future Trading News, Futures Trading | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday April 29, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

There will be no market commentary today.

Read the rest of this entry »


Economic Reports & Futures Levels 4.28.2015

April 27th, 2015 Filed under Day Trading, Economic Trading, Future Trading News, Futures Trading | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday April 28, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

TradeTheNews.com Weekly Market Update: Springtime for the Nasdaq

The March quarter earnings season hit its stride this week, and just about half of the S&P500 components have released quarterly results. Global indices remain at or near all-time highs: in Asia, a PBoC RRR cut helped neutralize fears of a Chinese selloff after last Friday’s regulatory crackdown (although there was another round of similar fears regulators would be tightening the screws), while in the US a few rounds of strong earnings propelled the Nasdaq above its March 2000 all-time closing high and kept the S&P near its March all-time highs. In Europe, Greece missed another deadline to present its European partners with reforms to unlock funding, but equity and bond markets seem to be reacting much less severely to the story. Leading manufacturing indicators in Asia showed a difficult start for Q2, as advance PMIs for China and Japan saw significant deterioration. Beyond the unending Greek drama, Europe was looking slightly better, with a 10-month high in the Germany April IFO survey and another month of expansion in the preliminary Eurozone manufacturing PMI data. For the week, the DJIA added 1.4%, the S&P500 rose 1.7% and the Nasdaq surged 3.2%.

There was next to no progress made in resolving the Greek crisis at Friday’s Eurogroup meeting and yet another deadline for Athens to unveil its reform proposals was missed. With Europe’s patience running very thin, there was talk the ECB was mulling a plan to cut off the Greek financial system from ELA support and ECB President Draghi said the council would examine the issue at a May 6th meeting. In public statements, Greek and European officials continued to talk about the need to reach a deal and Greece made a few concessions, but press reports suggested talks were very heated and Greece’s creditors were considering a “final ultimatum” for Greece, with no funds released short of a comprehensive deal. The next big payment faced by Athens is a €1.4 billion bill redemption on May 8th. EUR/USD tested lows around 1.0660 on Tuesday and Thursday then rose to its highs of the week at 1.0900 on Friday.

The March home sales reports were mixed. March US existing home sales bounced higher, improving on the flattish February numbers that had been impacted by the harsh winter weather. Sales of previously owned homes climbed to the highest level since September 2013, up 13.5% y/y. Conversely, March new home sales disappointed with a 10% decline from February’s relatively good level. Analysts highlighted that both reports are highly erratic and subject to big revisions. Two major homebuilders also reported contrasting quarterly results this week. DR Horton met expectations in its second quarter and offered slightly improved FY guidance, with orders up ~30% y/y. Pulte Homes widely missed earnings and revenue targets. Pulte’s performance was weighed down with construction delays, which impeded closings.

In big tech, Microsoft and Amazon saw impressive gains in cloud computing revenue. Amazon’s quarterly revenue rose 12% and its quarterly loss was slightly smaller than expected. Investors were happy to see the firm break out AWS metrics for the first time: AWS had revenue of $1.5 billion in the quarter, with a run rate of $5 billion a year and profits of $265 million. Microsoft’s results showed CEO Nadella’s turnaround well under way, with mobile hardware and cloud services revenue up sharply even as legacy licensing and PC revenue continued to decline. IBM saw its 12th straight quarter of revenue contraction, exacerbated by lower hardware sales and the strength of the dollar

Facebook’s results were very good across the board, with advertising revenue up 46% y/y and user metrics up double digits. The social network joined the chorus of firms complaining about the effects of the strong dollar, saying forex headwinds would be even greater in Q2 than the 7% crimp in Q1. Google’s revenue and paid clicks rose slightly less than expected, although costs were lower. Analysts had been criticizing the firm for swelling expenses over recent quarters.

Industrial names showed stress from the strength of the dollar and overseas economic weakness. Caterpillar crushed earnings expectations, however the firm warned sales and profit in each of the remaining three quarters of 2015 would be lower than the first quarter. General Motors meanwhile widely missed on earnings and revenue, with significant losses in key overseas markets. Lockheed and United Technologies both missed on revenue, although Lockheed also slightly increased its FY guidance. Boeing’s revenue missed and the backlog shrank.

Consumer names Pepsi and Procter & Gamble saw flat profits and declining revenues; PG’s revenue fell for the fifth quarter in a row. McDonalds disclosed grim first-quarter results: revenue declined 11% y/y and guest traffic was down in all major segments. Shares rose post-earnings after the firm said it would disclose a major turnaround plan soon and said it closed another 220 locations worldwide in the quarter. YUM! Brands saw lower profits and continuing drag in China, but tweaked its FY outlook slightly higher. Coke had a solid quarterly report. Airlines United Continental and Southwest reported very good results, citing lower fuel prices and growing demand.

Dow Chemical saw its earnings bulked up by asset sales, even as its revenue declined 14% y/y. Competitor 3M missed earnings expectations and cut its FY guidance. Both names warned FX negative impacts on sales would be substantial for the full year. Steel firms Nucor and Reliance Steel disclosed very strong first quarter results, with both companies widely beating earnings expectations. Executives from the two firms cited improving industry conditions, although they also warned pricing remains under pressure.

Comcast officially abandoned its $45 billion deal to acquire Time Warner Cable. The announcement does not come as much of a surprise, as the consensus emerged that after the FCC’s net neutrality gambit the deal was next to impossible. The FCC was gearing up for hearings on the merger and press reports out this week suggested that DOJ lawyers were close to a decision to recommend blocking the merger. There is no breakup fee for either firm for walking away from the deal. Charter Communications (which is controlled by Liberty Media Corp) is widely understood to be interested in making a bid for Time Warner now that Comcast is out of the way, but reports indicate that TWC would demand a higher price than the $159/share that Comcast offered.

After weeks of rumors, Teva launched a $40.1 billion offer for rival Mylan. The cash-and-stock bid is valued at $82/share, a 48.3% premium compared to Mylan’s stock price on March 10, the last trading before speculation of a link-up between the two companies. The contest won’t likely be a friendly one: just last week, Mylan said a merger with Teva would be unlikely to win antitrust approval because of “significant overlap” among the two businesses. Mylan’s first line of defense was making its own offer for Perrigo. However, Perrigo rejected the initial unsolicited offer of $205/share and then also spurned a formalized cash and stock offer on the grounds that Mylan’s stock has been inflated by the Teva bid.

The PBoC started the week off with a bang, cutting its Reserve Requirement Ratio (RRR) by 100 bps to 18.5%, which eased some of the anxiety caused by new limits placed on margin trading last week. The economic data didn’t cooperate, however. The China flash HSBC PMI registered its fourth consecutive contraction and a one year low as the headline number missed estimates. Meanwhile, Japan’s preliminary April Markit manufacturing PMI missed expectations as well, and slipped into contraction for the first time in nearly a year. Japan monthly trade data saw its first surplus in almost three years, but that was at least in part due to the crash in oil prices pushing down import values.

Source: http://www.tradethenews.com/?storyId=1733445

 

 

 

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.

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Futures Trading Levels

Contract June 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2135.08 4595.17 18241 1297.37 98.22
Resistance 2 2127.42 4575.33 18176 1286.13 97.84
Resistance 1 2115.58 4548.92 18078 1268.07 97.38
Pivot 2107.92 4529.08 18013 1256.83 97.00
Support 1 2096.08 4502.67 17915 1238.77 96.54
Support 2 2088.42 4482.83 17850 1227.53 96.16
Support 3 2076.58 4456.42 17752 1209.47 95.70
Contract June Gold July Silver June Crude Oil June Bonds June   Euro
Resistance 3 1242.4 17.46 59.00 164 24/32 1.1051
Resistance 2 1224.5 16.97 58.44 164 1/32 1.0992
Resistance 1 1213.3 16.69 57.63 163 13/32 1.0943
Pivot 1195.4 16.20 57.07 162 22/32 1.0884
Support 1 1184.2 15.92 56.26 162 2/32 1.0835
Support 2 1166.3 15.43 55.70 161 11/32 1.0776
Support 3 1155.1 15.15 54.89 160 23/32 1.0727
Contract July Corn July Wheat July Beans July SoyMeal June Nat Gas
Resistance 3 367.3 496.1 985.17 321.83 2.58
Resistance 2 365.9 491.4 982.33 319.27 2.56
Resistance 1 363.3 482.3 977.67 316.63 2.53
Pivot 361.9 477.7 974.83 314.07 2.51
Support 1 359.3 468.6 970.2 311.4 2.5
Support 2 357.9 463.9 967.33 308.87 2.46
Support 3 355.3 454.8 962.67 306.23 2.43
5. Economic Reports

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

All times are Eastern time Zone (EST)

Date 4:21pm Currency Impact Detail Actual Forecast Previous Graph
TueApr 28  9:00am USD S&P/CS Composite-20 HPI y/y 4.7% 4.6%
10:00am USD CB Consumer Confidence 102.6 101.3
USD Richmond Manufacturing Index -2 -8

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

 

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