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 and Economic Reports for August 1, 2013

Posted on by Ilan

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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 August 1, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

FOMC came and gone and we actually saw some of the “good old volatility FOMC days use to hav” which to me was nice since as daytraders we need the volatility and ranges or what I call the double edge sword.

Below you will see a screen shot of my intraday mini SP 500 chart with my proprietary ALGORITHM I call DIAMONDS. This algo works well on volatile, two sided days but not as well on strong trending days as it tries to predict turning points:

Mini S&P 6 Tick Renko Chart
Mini S&P 6 Tick Renko Chart

Continue reading “Futures Trading Levels and Economic Reports for August 1, 2013”

Futures Trading Levels and Economic Reports for July 31, 2013

Posted on by Ilan

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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 July 31, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I was working with one of my clients today, trying to provide some feedback and possible different angles to add for his day-trading.

He is a crude trader mostly and I gave him a few ideas and the main one I would like to share today is adding different type of charts to your arsenal if you are a short term trader.

Mostly I am referring to tick charts, volume charts, range charts and renko charts.

The main advantage of using these type of charts versus lets say a 10 minute chart, is that if there is action/ volume/ price movement in the market, the bars will complete faster, hence generating a signal faster rather than you waiting for 10 minute bar to complete. Also when the market is slow, not much price or volume action, the bars will complete slower and will not generate a signal simply because time has passed.

I recommend looking at 15 minute charts and then as you go lower in time frame, add range or tick charts as the “lower time frame”.
I will be more than happy to expand on this topic in upcoming posts or answer questions you may have via email.

An example of a crude oil range chart from today for your review below:

Crude Oil 18 Tick Range Bar Chart
Crude Oil 18 Tick Range Bar Chart

Futures Trading Levels and Economic Reports for July 30, 2013

Posted on by Ilan

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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 July 30, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Earning season is in full speed and we are seeing a little bit more volatility in stock index futures but not much to be honest. In addition, this last few weeks mark some of the lowest volume I have personally seen in markets like the mini SP 500 futures.

Below is a daily chart of the mini Russell 2000. Many lines, somehow of a confusing chart maybe but the bottom line is that 1027 area is the first support we need to see violated before the markets can make a more significant move lower.

TFE - Mini Russell 2000 Daily
TFE – Mini Russell 2000 Daily

Pages: 1 2

Planning Ahead Trading Futures

Posted on by Ilan

The following was written by Kimberly Pabillon, a Commodity Broker with Cannon Trading since 2009

Trading futures requires research of particular markets (planning ahead and analyzing market behavior), a well thought out strategy when it comes to trading a particular futures market, and finding the right futures trading platform that allows you to execute your trading strategy. There is no Holy Grail or one right answer when it comes to trading futures.  Many new traders think that trading in and out of the market for a one or two tick profit target will make them a large sum of money. And that’s definitely not the case. Futures markets can hold some what unpredictable terms when trading.

Before new and old traders take the dive into futures trading, traders want to make sure that they have done their research about the particular futures markets they are looking to trade. Keeping a daily journal of market behavior of a particular futures market can be very helpful when coming up with a trading strategy. Analyzing how a particular market behaves when certain reports are released and taking note can help a trader see market reaction with particular reports and numbers. You may also see a future trader’s chart littered with many studies. This can be distracting to many traders. Find a few studies that work well with your strategy and stick with those instead of adding studies you hear about from educators or other traders alike. No trader needs the extra noise on their chart if it’s not applicable to their trading strategy.

Continue reading “Planning Ahead Trading Futures”

Which Futures Market is Right for You?

Posted on by Ilan

So you got a taste of the markets and trading and now you are getting more involved, excited and looking to progress. Many questions ahead for you as a trader and as time progresses you will evolve and find out if trading is suitable for you and if so what type of trading, what type of risk capital and other questions that will come up. Many of these will appear as you progress and your knowledge increase. Some of these questions need to be answered before you start trading.

  1. How much risk capital do I have?
  2. What markets do I want to trade?

The answer to question 1 will vary for each trader based on their financial situation but the bottom line is, make sure you trade with money you can afford to lose.

The answer to question 2 has a few levels: First is what asset class are you looking to trade? Stocks/equities? perhaps FOREX or maybe futures? Since my area of expertise is futures, commodities and future options I would like to expand on this asset class.

Trading futures offers many advantages as well as some drawbacks. For many traders who prefer to day trade ( you enter and exit the position during the same session and avoid holding positions from one day to another), trading futures is a great alternative to day trading stocks. In stocks you need to have minimum of $25,000 to day-trade. In futures you only need $2500. The build in leverage in the futures market, intensified by the even more so reduced day trading margins, creates a double edge sword: Small moves can translate into big wins in your pocket BUT small moves against you will also translate into big losses in your account….

Continue reading “Which Futures Market is Right for You?”

Futures Trading Levels and Economic Reports for July 25, 2013

Posted on by Ilan

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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 July 25, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

I wrote about stock index futures and the confusing technical picture we have. Today was the first down day in the SP 500 in a while, however, AAPL earnings sent the NASDAQ futures higher.

I think if NASDAQ futures can take out the 3021 level basis the September contract, we can actually see a more meaningful decline across the board.

Mini NASDAQ 100 futures daily chart for your review below.

mini NASDAQ futures

 

 

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Futures Trading Levels and Economic Reports for July 24, 2013

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 July 24, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading!  

I must admit that stock index futures ( and the most popular one, the mini SP 500 or ESU3) are quite confusing for me these days….I am not getting a good read and the low volume ( notice at the bottom of the chart how much lower volume is the last few weeks) is adding to this confusion. Using some Fibonacci extensions, I am looking at a possible resistance at 1708.75 but it will be tempting to try the short side if the market can break 1675.00. In between, my personal opinion is to stay out if you are a swing trader as I dont see any swings yet….on the other hand if you are a day trader, mark your chart with important levels, get a feel for the early volume and try to asses early enough if the trading day going to be quiet and narrow like today or if there is chances for wider ranges and higher volatility like we witnessed few weeks ago.

Not an easy job. In between daily chart for your review below.

On a different note: I am getting very nice feedback on the content of this blog from clients as well as prospects and I appreciate it! In return I would like to ask you to take a few minutes and post positive reviews on:

Google Plus  ( you need to be logged in to your gmail account first)
I thank you in advance and hope you take a few minutes to do so.

Daily mini SP 500 chart for your review:

EP - E Mini S&P 500, Equalized Active Daily Continuation
EP – E Mini S&P 500, Equalized Active Daily Continuation
Pages: 1 2

Futures Trading Levels and Economic Reports for July 19, 2013

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 July 19, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Big divergence today between NASDAQ futures and the rest of the indices ( SP500, Dow Jones, Russell). To be honest I am not sure if this can be a start of a turning point or not but if you are trading stock indices be aware of it.

As I wrote yesterday, i would like to see SP futures break below 1665 before going short and this did not happen yet.

On the other hand the signal I got on the NASDAQ did get a confirmation once we broke below 3064 level. Daily chart with possible levels for your review below.

Futures Trading Levels and Economic Reports for July 18, 2013

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 July 18, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

I got a sell signal on the daily mini SP chart ( see below the red diamond) . To be honest it does not mean much UNLESS price can break 1665.00. At that point I think we have better chances for a more meaningful pullback.
There are times when I like to enter trades using a stop order. i do this when I feel that I need to see certain levels brake and that if these specific levels break, I think the market has better chances of picking up speed and momentum in the same direction.  This is a good way to avoid picking tops and bottoms prematurely, like in todays example. I.E if market continues higher and does not break 1665 I will not get in a short position and stay out of the market. If it does, I may have given up a few points but for me personally, I will have more confidence in the trade.

 

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

Continue reading “Futures Trading Levels and Economic Reports for July 18, 2013”

E-Mini NASDAQ 100 Futures Technical Analysis for July 16th 2013

Posted on by Ilan

Sept. Mini NASDAQ futures ( symbol on most platforms is NQU3) are trading at 3070.00 at the time I am writing this analysis – July 16th 2013.

As a commodity futures broker,  I am going to focus on the technical aspect of this market and provide my technical opinion, I think it is important to be aware of the fundamental aspects and the events coming up which can move the market either way. To start with,  Traders are probably already looking forward to today’s testimony before Congress by Fed Chairman Ben Bernanke. The big question he will be asked is how does the FED plans on tapering down the massive injection of cash or what we know as QE. I think the reason the markets are down today is in anticipation of this testimony. Economic numbers will continue to pour in as well as a G20 meeting and earning season is in place.

Continue reading “E-Mini NASDAQ 100 Futures Technical Analysis for July 16th 2013”

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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.