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.

Minis S&P Chart, Futures Trading Levels & Economic Reports 1.28.2014

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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 Tuesday January 28, 2014

Hello Traders,

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

Last Thursday I wrote:

PS: I think if we do break 1813, we can see more powerful leg down. Just my opinion…..

I happened to be right this time and below you will see updated outlook. Looks like next levels of support come at 1754 and 1730.

On the way up 1792 is sticking up as a very important level.

Lets not forget we have FOMC coming out Wednesday which is a market mover and in between we are in the midst of earnings season….

Updated chart for your review below:

 

EP - E-Mini SAP 500, Equalized Active Daily Continuation
EP – E-Mini SAP 500, Equalized Active Daily Continuation

Continue reading “Minis S&P Chart, Futures Trading Levels & Economic Reports 1.28.2014”

Mini S&P Daily Chart, Futures Levels & Economic Reports 1.24.2014

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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 Friday January 24, 2014

Hello Traders,

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

Good intraday volatility today across many markets. This volatility can be a friend to many traders and a foe for many others…

Looks like bonds and gold had an upside breakout move while stock indices showed earlier weakness on China news but as you can see from chart below, bounced nicely off support levels.

I think for tomorrow we need to see either a break of 1830 or 1813 to favor the long or short, otherwise I anticipate an inside day with possible moves both ways.

PS: I think if we do break 1813, we can see more powerful leg down. Just my opinion…..

 

EP - E-Mini SAP 500, Equalized Active Daily Continuation
EP – E-Mini SAP 500, Equalized Active Daily Continuation

Continue reading “Mini S&P Daily Chart, Futures Levels & Economic Reports 1.24.2014”

Australian Dollar Chart, Futures Levels & Economic Reports 1.22.2014

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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 Wednesday January 22, 2014

Hello Traders,

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

I need your help!

I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

Traders Planet Awards

 

There are more than a few markets one can daytrade beside stock indices….

Today I would like to talk a little about the currency futures markets. I personally prefer currency futures over FOREX any day. More than a few reasons but the main ones are: currency futures trade on one, regulated main exchange ( CME) while FOREX trades through different interbanks and other means of transactions that are not necessarily regulated. FOREX are “commission free” but in reality there is a spread built in that dealer marks up each time you buy or sell which makes FOREX more expensive than futures.

The main ones I like to follow are:

The Euro, The Yen, The British Pound, The Australian. All are paired versus the US$.

Each market will have different times of higher volume which can allow for traders in all time zones to pick their market. Simply open an hourly chart, like the example i am showing below of the Australian $ and add the volume indicator to observe what times the market has the most action.

  • 1 Euro tick is $12.50
  • 1 Yen tick is $12.50
  • 1 Aussie tick is $10
  • 1 British tick is $6.25

Currency futures will often trend better than other segments and will experience different levels of volatility during economic reports in the different parts of the world.

Another point is that currencies also have MICRO contracts, which may be a great transition from demo mode to LIVE mode, as these contracts are pretty small ( one tenth of the normal size)

If you plan on following any currencies, start in demo mode, know what reports are coming that affect the specific currency you are trading, take a look at the daily, weekly charts to get a feel and monitor the action for a while.

Any questions and i will be happy to assist.

 

DA 6 - Australian Dollar (Globex), Equalized Active 60 Min Continuation
DA 6 – Australian Dollar (Globex), Equalized Active 60 Min Continuation

Martin Luther King 2014 – Futures Trading Holiday Schedule

ICE

ICE Futures US Softs including US Grains & Oilseeds Closed Fin Gas, Power & Emissions:

Early Close 13:30 ET

Russell Index

Early close 11:30 ET

USDX & FOREX

Early Close 13:00 ET

ICE Futures US Softs including US Grains & Oilseeds Closed Fin Gas, Power & Emissions:

Early Close 13:30 ET

Russell Index

Early close 11:30 ET

USDX & FOREX

Early Close 13:00 ET

CME Group

Download Martin Luther King Holiday Trading Schedule for CME Group in PDF format.

For more information, please visit: 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.

 

Tick Charts, Futures Levels & Economic Reports 1.17.2014

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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 Friday January 17, 2014

Hello Traders,

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

Using tick charts and oscillators for day-trading (by Ilan Levy-Mayer VP of Cannon Trading and CTA at Levex.net )

I really don’t think anyone has found a “perfect way” to day-trade.

Different techniques work well in different market environment.

In this week short educational feature, I will touch about one technique one can add to their trading arsenal. This technique works better on choppy, two sided ways. It DOES NOT work well when the market has a strong trend.

The chart below illustrates a few principals I like:

  1. It uses a tick chart rather than a time chart. I like tick charts better when day-trading shorter time frames for the simple reason it already includes a big factor in the market, VOLUME. If you are using 5 minutes chart for example, you may get signals simply because time “has passed” and certain indicators you are using adopt certain values. When using tick charts, at times where there is lots of movement in the market, you won’t have to wait until your time frame bar closes to get your signal, volume becomes a bigger more important part of your trading decision.

READ THE REST

Continue reading “Tick Charts, Futures Levels & Economic Reports 1.17.2014”

Futures Levels & Economic Reports for 1.14.2014

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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 January 14, 2014

Hello Traders,

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

I need your help!

I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

 

777

 

Educational Feature: Dealing With Losing Trades

(Note: This feature is a favorite of mine, and I believe all traders need to address this issue every once in a while.)

A main tenet of success in futures trading is the ability to accept losing trades as part of the overall trading process. This is not an easy undertaking–especially since many futures traders tend to be of a more competitive nature in the first place. Traders certainly don’t have to enjoy losing trades, but they must accept the fact and move on. Those who can’t accept the fact that losing trades are a part of futures trading usually don’t stay in the business very long.

My wife is a school teacher, and one of her favorite acronyms–ADM–can be applied to losing futures trades. “Accept” it. “Deal” with it. “Move” on. (This is a part of the important psychological aspect of trading, and deserves much more discussion than I can provide in this feature.)

I had lunch with one of my trading mentors a while back. We discussed losing trades. I asked my mentor how many losing trades in a row he has had to endure during his long and successful trading career. His reply was 13 in a row. I asked him how he coped with that. He said that while it was certainly not easy, he knew that losing trades are a part of the business and that he was in the business “for the long haul,” and that his trading methodology was sound. He added, “Ninety-percent of futures trading profits are made on 10% of the trades, which means most of the other trades are either small losers or break-even-type trades.” This is an important fact for all traders to keep in mind.

My lunch meeting with my mentor was good for me because, even though we made no “break-through” discoveries on the path to increased futures trading success, we did reaffirm our own philosophies on trading and markets. My passion for trading and market analysis is fed immensely every time I talk with people in my profession, or attend the quality trading seminars.

For many of you, the futures trading arena can be more fulfilling (and more fun) if you have someone, or some support group, with which to share your thoughts and strategies. If you are passionate about futures trading and markets, finding someone who shares that passion is a great trading tool within itself!

That’s it for now. Next time, we’ll discuss another important issue on your path to trading success.

Continue reading “Futures Levels & Economic Reports for 1.14.2014”

Futures Trading Solutions, Futures Levels & Economic Reports 1.09.2014

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 January 10, 2014

Hello Traders,

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

Monthly unemployment report comes out tomorrow morning, this is a market moving report, please be aware. My recommendation is that if you are a day-trader, wait for AFTER the report before starting to day-trade. 

Make  2014 your BEST trading year yet and start by becoming a client of Cannon Trading, I would like to invite you to visit our website, email us and learn more about our:
1. Superior service
2. One of the largest selection of trading platforms
2 a. Multiple data feeds for Ninja Trader
3. Competitive pricing and some of the lowest day-Trading margins
4. Broker assist and trading systems available
5. Collection of added value tools we offer to clients and prospects since 1988!

 

Visit: Cannon Trading Website!  or simply reply back with any questions you may have.


I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

 

Trader Planet Awards

 

Continue reading “Futures Trading Solutions, Futures Levels & Economic Reports 1.09.2014”

VOTE for Us, Star Awards, Futures Levels & Economic Reports 1.07.2014

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 January 7, 2014

Hello Traders,

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

We need your Votes!!
I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:

http://www.traderplanet.com/l/WEd

 

Trader Planet Awards

 

From the trading perspective, i would like to start with one simple advice.

Go back and look at your trading, if you been trading for 30 days or 30 years, make notes of what worked for you and what not and make a decision to CHANGE what does NOT work and you will start by CHANGING your behavior/ action. You can not expect to see different results by doing the same thing…Once you made that decision to be consciously aware of your trading actions and trading results and make an honest effort to change behavior in order to change results, you will be able to go to the next step.
So we wish all of you a year of success and progress and if we can be of help, let us know. Continue reading “VOTE for Us, Star Awards, Futures Levels & Economic Reports 1.07.2014”