Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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Futures Trading Christmas Schedule & Trading Levels 12.20.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
This upcoming Monday and Tuesday we will observe modified trading schedule for Christmas.
Please make sure you check the trading hours at:
Happy holidays and a great 2019 to you and your loved ones!!
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
  • A plan with steps for success
  • The top mistakes traders make daily
  • How to handle the market noise
  • And much more!
image005

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.

 

Futures Trading Levels

12-20-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Trading Levels 12/19/2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
FOMC tomorrow.
75% for another 0.25% hike.
The following are suggestions on trading during FOMC days:
·    Reduce trading size
·    Be extra picky = no trade is better than a bad trade
·    Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 2925.00 with a stop at 2919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
·    Expect the higher volatility during and right after the announcement
·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
·    Know what the market was expecting, learn what came out and observe market reaction for clues
·    Be patient and be disciplined
·    If in doubt, stay out!!
March is now the front month for most markets.
Examples;
ESH19
ZBH19
SIH19
and many others.
You should not be trading ANY December contracts.
Ask your broker if not sure.
WEEKLY chart of Crude Oil Futures below. OMG….
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
  • A plan with steps for success
  • The top mistakes traders make daily
  • How to handle the market noise
  • And much more!
image005

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.

 

Futures Trading Levels

12-19-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Christmas Holiday 2018 Holiday Schedule for CME / Globex and ICE Exchange

Posted on by Ilan

Christmas Holiday 2018 Holiday Schedule for CME / Globex and ICE Exchange

CME Group 2018

 

Ice 2018

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex®  Christmas Holiday Schedule

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

Ice Futures Christmas Holiday 2018 Holiday Trading Schedule

Detailed holiday hours: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Mini Dow Chart & Trading Levels 12.18.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
March is now the front month for most markets.
Examples;
ESH19
ZBH19
SIH19
and many others.
You should not be trading ANY December contracts.
Ask your broker if not sure.
Post G20 and Brexit Endgame: Implications for Markets
By Blu Putnam, Chief Economist, CME Group
Post-G20 Market Implications for U.S-China Trade, Oil Prices
  • Could U.S.-China strike an extensive trade deal in Q1 2019 post G20 cease-fire?
  • Rising U.S. oil production could neutralize Saudi-Russia pact at G20 to curb crude output
  • Flattening yield curve, widening credit spreads could signal headwinds for U.S. economy
Brexit: Endgame in Sight?
  • Could Brexit debacle lead to a change in UK leadership, fresh elections?
  • If another Brexit referendum happens, will outcome be any different?
  • Prime Minister May will not lead Conservatives into the next elections
Daily chart of the cash Dow Jones Index below, very close to testing February lows. Needs to hold support/ lows in order to decrease a chance for even a BIGGER correction:
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
  • A plan with steps for success
  • The top mistakes traders make daily
  • How to handle the market noise
  • And much more!
image005

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.

 

Futures Trading Levels

12-18-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Rollover Notice for Stock Index Futures, 6B Futures Chart & Trading Levels 12.14.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Rollover Notice for Stock Index Futures
Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the March 2019 contract.
Starting Dec. 13th, the March 2019 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the March 2019 contract as of December 13th. Volume in the Dec. 2018 contracts will begin to drop off until its expiration on Friday September 21st.
The month code for March is H19
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.
Please close any open Dec. Currency positions by the close on Friday the 14th.
Daily chart of the “confused, Brexit” British Pound below:
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
  • A plan with steps for success
  • The top mistakes traders make daily
  • How to handle the market noise
  • And much more!
image005

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.

 

Futures Trading Levels

12-14-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

ECB Rate Decision Tomorrow, Crude Oil Chart & Trading Levels 12.13.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
ECB rate decision ( or lack of probably….) can still move the markets!!
Always know what reports are due and which ones affect your trading/ markets you like to trade.
Intra-day chart of RBOB (unleaded gas) below:
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
  • A plan with steps for success
  • The top mistakes traders make daily
  • How to handle the market noise
  • And much more!
image005

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.

 

Futures Trading Levels

12-13-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Volatility in Stock Indices &Trading Levels 12.12.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
The volatility in stock indices continues, with fast, large moves intra-day and overnight.
Be careful.
Reduce trading size if possible. Be “picky” with your entry points and understand that you probably will need to risk more per trade or give the trade a bit more room than normal.
Go back in your charts to other volatile periods like we are experiencing now, perhaps February of this year and get a feel for the type of moves etc.
Intra-day chart of the mini Dow below:
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Would you like access to trading ALGOS that try to identify market turning points? click here
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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.

 

Futures Trading Levels

12-12-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Webinar Sign Up and Trading Levels 12.11.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Webinar this Thursday, hosted by our friends @futuresio.
I will discuss different aspects of futures trading as it relates to you the client/trader on variety of topics.
Thursday at 4:30 EST.
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Would you like access to trading ALGOS that try to identify market turning points? click here
754a8e1a a905 4bf7 9ed6 4f5e7161803e

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.

 

Futures Trading Levels

12-11-2018

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Economic Reports, source: 

Provided by https://app.bettertrader.com

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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.

Dr. Copper Futures Chart & Trading Levels 12.07.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Taking the Pulse of Dr. Copper for 2019
by: CMEGroup
  • Copper rose 72% in 2016-17 on Chinese growth but is down 18% so far in 2018
  • Supply continued to grow in 2018, likely from strong mining profitability
  • Price trend for 2019 will depend on Chinese demand, U.S. dollar strength
  • Brexit outcome, Italian debt concerns also could influence copper next year
Natural gas numbers will come out Friday instead of the normal Thursday time.
Effective this Sunday, Dec. 9 – Eurex will open during U.S. evening time, and extend their exchange daily trading to near 21 hours.
Daily closing time will remain the same, at 3pm Chicago time.
Per below screenshot from Eurex website – time conversions to U.S.:
CET (Central European Time) is currently 7 hours ahead of US Central (Chicago) time.
Open — CET 01:15 am –> 6:15pm Chicago time
Close — CET 22:00 –> 15:00 Chicago time
Weekly chart of “Dr. Copper” below:
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Would you like access to trading ALGOS that try to identify market turning points? click here
754a8e1a a905 4bf7 9ed6 4f5e7161803e

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.

 

Futures Trading Levels

12-07-2018

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Economic Reports, source: 

www.forexfactory.com

Date 4:15pm Currency Impact Detail Actual Forecast Previous Graph
FriDec 7 2:00am EUR
German Industrial Production m/m
 0.3% 0.2%
2:45am EUR
French Industrial Production m/m
 0.8% -1.8%
EUR
French Trade Balance
 -5.9B -5.7B
3:30am GBP
Halifax HPI m/m
 0.3% 0.7%
4:00am EUR
Italian Retail Sales m/m
 -0.2% -0.8%
All Day All
OPEC Meetings
4:30am GBP
Consumer Inflation Expectations
 3.0%
5:00am EUR
Final Employment Change q/q
 0.2% 0.2%
EUR
Revised GDP q/q
 0.2% 0.2%
All Day All
OPEC-JMMC Meetings
8:30am USD
Average Hourly Earnings m/m
 0.3% 0.2%
USD
Non-Farm Employment Change
 198K 250K
USD
Unemployment Rate
 3.7% 3.7%
10:00am USD
Prelim UoM Consumer Sentiment
 97.0 97.5
USD
Final Wholesale Inventories m/m
 0.7% 0.7%
USD
Prelim UoM Inflation Expectations
 2.8%
10:30am USD
Natural Gas Storage
 -63B -59B
12:00pm USD
FOMC Member Brainard Speaks
3:00pm USD
Consumer Credit m/m
 15.1B 10.9B

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.

Daily Support & Resistance Levels 12.06.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Due to George W Bush funeral today, the crude oil numbers will come out tomorrow at 11 AM EST.
Natural gas numbers will come out Friday instead of the normal Thursday time.
Also, be aware that OPEC meeting results will come out around 8 AM central time tomorrow as well. I expect some serious volatility in the energy markets tomorrow.
Effective this Sunday, Dec. 9 – Eurex will open during U.S. evening time, and extend their exchange daily trading to near 21 hours.
Daily closing time will remain the same, at 3pm Chicago time.
Per below screenshot from Eurex website – time conversions to U.S.:
CET (Central European Time) is currently 7 hours ahead of US Central (Chicago) time.
Open — CET 01:15 am –> 6:15pm Chicago time
Close — CET 22:00 –> 15:00 Chicago time
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Would you like access to trading ALGOS that try to identify market turning points? click here
754a8e1a a905 4bf7 9ed6 4f5e7161803e

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.

 

Futures Trading Levels

12-06-2018

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Economic Reports, source: 

www.forexfactory.com

Date 4:14pm Currency Impact Detail Actual Forecast Previous Graph
ThuDec 6 2:00am EUR
German Factory Orders m/m
 -0.4% 0.3%
All Day All
OPEC Meetings
5:00am GBP
MPC Member Ramsden Speaks
Tentative GBP
30-y Bond Auction
 1.83|1.8
7:30am USD
Challenger Job Cuts y/y
 153.6%
8:15am USD
ADP Non-Farm Employment Change
 196K 227K
8:30am USD
Revised Nonfarm Productivity q/q
 2.3% 2.2%
USD
Revised Unit Labor Costs q/q
 1.1% 1.2%
USD
Trade Balance
 -55.2B -54.0B
USD
Unemployment Claims
 226K 234K
9:45am USD
Final Services PMI
 54.4 54.4
10:00am USD
ISM Non-Manufacturing PMI
 59.2 60.3
USD
Factory Orders m/m
 -1.9% 0.7%
11:00am USD
Crude Oil Inventories
 -2.0M 3.6M
12:15pm USD
FOMC Member Bostic Speaks
6:30pm USD
FOMC Member Williams Speaks
6:45pm USD
Fed Chair Powell Speaks

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.

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.