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 Levels & Economic Reports 2.27.2014

Posted on by Ilan

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 Friday February 28, 2014

Hello Traders,

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

Here are the current front months, active months for the more popular futures contracts. I will send a separate, special notice before stock index futures roll over in two weeks:

 

  • Stock index ( mini SP, mini Russell etc.) MARCH
  • Financials ( bonds, 10 years etc.) JUNE
  • Crude oil, Natural gas other energies: APRIL
  • Gold: APRIL
  • Silver, copper: MAY
  • Beans, wheat, corn and other grains: MAY
  • Currencies ( euro, yen, Swiss etc.) MARCH
  • Coffee, Cocoa, Sugar, Cotton: MAY
  • Meats ( cattle, hogs) APRIL

Continue reading “Futures Trading Levels & Economic Reports 2.27.2014”

Futures Trading Levels & Economic Reports 2.27.2014

Posted on by Ilan

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 Thursday February 27, 2014

Hello Traders,

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

Ranking 30 Market Events

Where do I look and when do I pay attention?

 

Separator

Every trader has done it.

You’ve done it, your friends have done it, even your broker has done it at one point early in their career. Here’s the scenario:

 

You’ve finally finished your futures education at Cannon Trading Company. You’ve done you’re homework on

stops, limits, indicators and price movements for the market you’re trading

. You’re ready to go, you enter your limit order and you wait.Separator

**DING**

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You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you’re in: How much can I make? How much can I lose before it’s too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures…Read the full article. Continue reading “Futures Trading Levels & Economic Reports 2.27.2014”

Futures Levels and Economic Reports 2.26.2014

Posted on by Ilan

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 February 26, 2014

Hello Traders,

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

Range bound, directionless trading today in stock index futures. Markets are pushing against all time highs and it will be interesting to see what kind of action we get.

So in hindsight, today’s trading environment was suitable for buying support, selling resistance. Trying to scalp the ranges as there was no real volatility or break out. Today’s action encouraged me to share a quick paragraph I wrote about the different types of trading days:

  •  My opinion is that there are 3 main types of trading days.

1. Most common is two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought /oversold indicators.

2. Strong trending day, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend

3. Slow and/ or choppy trading day – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.

  •  Good question is how can one asses what type of trading day we will have while the market is still trading….I am doing some work about it and will be happy to hear feedback via email but here are some initial observations:
    1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session ( primary session is when the cash/ stock market is open)
    2. Mondays have the highest chance for trending days
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes have good volume, better chances for type 1 or type 2 trading days.
    5. low volume during first 30 minutes can suggest a choppy (type 3 trading day)

Continue reading “Futures Levels and Economic Reports 2.26.2014”

Automated Futures Trading Systems, Futures Levels & Economic Reports 2.21.2014

Posted on by Ilan

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 Friday February 21, 2014

Hello Traders,

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

I have to share this new tool/ resource we have on the Cannon trading website. It’s called iSystems. iSystems is the in my opinion the most advanced platform for researching, selecting and auto trading of systems designed by professionals.

visit: https://cannon.isystems.com where you can see real time performance, backtest results, forward test results. You can sort out systems by performance, minimum account size and much more.

I will be happy to provide a quick walk through for those who are interested and help you evaluate some of the systems. While most auto trade systems require higher starting capital, some of the systems featured require as little as $5,000.

One can browse systems, select different systems for diversification and much more.

Feel free to browse, call us at +310 859 9572 to discuss or simply email me.

Mini S&P Chart, Futures Levels & Economic Reports 2.20.2014

Posted on by Ilan

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 Thursday February 20, 2014

Hello Traders,

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

Below is a screen shot of the Mini Sp 500 chart I shared during today’s session with clients and prospects during our live trading signals session.

ESH4 2.00 Range #2 E-mini S&P 500 - CME

Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above and be able to apply for any market and any time frame on your own PC? You can now have a three weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.

To start your trial, please visit:

If so, please send me an email with the following information:

 

1. Are you currently trading futures?

2. Charting software you use?

3. If you use sierra or ATcharts, please let me know the user name so I can enable you

4. Markets you currently trading?

How Discount Brokers Work?

Posted on by Ilan

Discount Futures Brokerage is formatted to provide a more cost effective way of trading futures for experienced traders who are comfortable placing trades over the internet , using their personal computer..

Discount Futures Brokers typically offer lower service fees and take a more minimal role in daily trading decisions. What you are essentially using a broker since then, is to place orders and for representation on the exchange floor. It is true that futures trading, or any trading market for that matter, could not operate without market participants and market professionals representing those participants. With commodities markets being so risky, regardless of cost it is clear that qualified brokers are vital to the success of participants of various markets.

What’s The Difference?

The biggest difference with discount brokers is the client’s ability to be more self-directed with their trading profile. The risk associated with futures trading disclaims that there is no guarantee of profit no matter who manages your money. No matter the level of involvement, brokers still represent the interests of every client and are likewise as valuable.  The need for Futures Trading Brokers will never become obsolete, so the emphasis on discount brokerage need be on discounted commissions and fees, not discounted service.

Below is a list of lesser or excluded fees associated with a discount futures brokerage:

  • Account Maintenance Fees
  • Platform Fees
  • DataFeed Fees (Online/E-Trading)
  • Low Margin Investments
  • Broker Support Fees

Another difference with discount brokerage is the type of platform often used for this type of futures brokerage service; online. Online Futures Trading is in some cases synonymous with a discount futures brokerage. The reason this is, is due to lower costs associated with online platforms that allow you to do most of the monitoring of real time market data. A wide selection of online futures companies provide the software you can download to use to trade and build a profile. When one places orders online, he doesn’t need to call his broker and place orders via phone. That saves the time of the broker and allow for lower, discounted fees.

Continue reading “How Discount Brokers Work?”

Mini S&P Chart, Futures Levels and Economic Reports 2.19.2014

Posted on by Ilan

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 February 19, 2014

Hello Traders,

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

Back after a long weekend and tomorrow we have Fed minutes, which can either provide the market with some power to move to the next level up or perhaps show us that the market ran out of gas….Here is the way my daily SP chart looks like:

EP - E Mini S&P 500, Equalized Active Daily Continuation

President’s Day 2014 – Futures Trading Holiday Schedule

Posted on by Ilan

Presidents’ Day Holiday Schedule

All times Central Time

Globex®

Equity Products

Friday, Feb 14

   4:15 CT – Regular close

Sunday, Feb 16

   5:00 CT – Regular open for trade date Tuesday, Feb 18*

Monday, Feb 17

   10:30 CT – Trading halt (pre-open)

   5:00 CT  – Products resume trading

Tuesday, Feb 18

   4:15 CT – Regular close

Interest Rate & FX Products

Friday, Feb 14

   3:15 CT / 1615 ET / 2115 UTC – Early close

Sunday, Feb 16

   5:00 CT – Regular open for trade date Tuesday, Feb 18*

Monday, Feb 17

   12:00 CT – Trading halt (pre- open)

   5:00 CT – Products resume trading

Tuesday, Feb 18

   4:00 CT – Regular close

Energy, Metals & DME Products

Friday, Feb 14

   4:15 CT – Regular close

Sunday, Feb 16

   5:00 CT – Regular open for trade date Tuesday, Feb 18*

Monday, Feb 17

   12:15 CT – Trading halt (pre-open)

   5:00 CT – Products resume trading

Tuesday, Feb 18

   4:15 CT  – Regular close

Grain, Oilseed & MGEX Products

Friday, Feb 14

   Regular close – Per each product schedule

Sunday, Feb 16

   4:00 CT – Pre–open for trade date Tuesday, Feb18*

Monday, Feb 17

   4:00 CT – Open for trade date Tuesday, Feb 18

Tuesday, Feb 18

   Regular close – Per each product schedule

Livestock, Dairy & Lumber Products

Friday, Feb 14

   Regular close – Per each product schedule for:

  • Livestock
  • Dairy
  • Lumber

Monday, Feb 17

   5:00 CT – Dairy markets open for trade date Tuesday, Feb 18

Tuesday, Feb 18

   9:00 CT – Lumber market open

   9:05 CT – Livestock markets open

Regular close – Per each product schedule

* Note: Session orders entered on Sunday are for trade date Tuesday, Feb 18 and will continue working until Tuesday’s close unless otherwise noted.

 

*Dates and times are subject to change

For a complete list of Globex schedules please reference the Excel version of the Holiday calendar: http://www.cmegroup.com/tools-information/holiday-calendar/files/2014-presidents-day-holiday-schedule.xls

If you have any questions, please call the CMEGlobalCommandCenter at +1 800 438 8616call skype logo+1 800 438 8616, in Europe

at +44 800 898 013call skype logo+44 800 898 013 or in Asia at +65 6532 5010call skype logo+65 6532 5010

Intercontinental Exchange / ICE

Friday, Feb 14

All ICE U.S. products

   Regular close – Per each product schedule

Monday, Feb 17

ICE Futures US Soft’s including US Grains and Oilseeds

   CLOSED

USDX INDEX & FOREX:

   Early close 12:00 P.M. CT and no TAS trading

Russell Index:

   Early close 10:30 A.M. CT and no TAS nor TIC trading

Credit Index Futures:

   Early Close 10:30 A.M. CT and no TAS trading

For a complete list of ICE schedules please reference the Holiday calendar on the ICE web site:

https://www.theice.com/marketdata/Calendar.shtml?calendars=Holiday&expirationEnabled=false&calendars=SpecialTradingHours

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.

Futures & Commodities Levels and Economic Reports 2.13.2014

Posted on by Ilan

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 Thursday February 13, 2014

Hello Traders,

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

If you are a stock index futures trader, like many of our readers/clients are, try and pay attention to how the 30 year bonds move intraday.
I have found out that many days you can see the inverse relationship between the bonds and stocks, especially on days when there is not much news or range bound days like today.
Sometimes I noticed that if bonds start bidding higher it can serve as a small signal for possible sell off in SP500 and other stock indices and vice versa.
Obviously I would NOT use this as the sole tool for making trading decisions but follow the price action for a while as well as the relationship between stock index futures and interest rate futures and see if this can be helpful for you with your 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.