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.
Also, I mentioned before and I am mentioning again, volume is much lighter recent days. Be aware of the change in “intra-day personalities of the markets” and I recommend taking the approach of “no trade is better than a bad trade”….
We are also light on economic numbers and reports rest of the week as you can see below.
Daily chart of the Dow Jones cash index for your review below. Note the decline in volume over past few days.
Holiday schedule for this Friday through Tuesday for your review below. Please contact your broker with any questions. This is one of the few times where many markets will be closed from Friday afternoon until early Tuesday morning, so please review schedule below.
Also, I mentioned before and I am mentioning again, volume is much lighter recent days and i suspect that the same will happen next Thursday/ Friday. Be aware of the change in “intra-day personalities of the markets” and I recommend taking the approach of “no trade is better than a bad trade”….
View the Holiday Trading Hours here.
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
I just posted the below paragraph about Holiday trading yesterday and we saw a great example of it today…market rallying over 3% with about 60% of the normal volume….
So read the paragraph again and make sure you are aware of trading conditions and adjust accordingly.
We are now entering a period of the year when volume may be lower than normal. It will be more noticeable starting Friday Dec. 23rd as we will enter the holiday period of Christmas and New year.
Understand that lower volume can results some erratic moves at times and during other periods of the day can create “sleepy, slow ” type of trading.
Make sure you are aware of the trading schedule, reports times so you are not caught by surprise.
Happy Holidays and great trading, PIT session, big SP500 daily chart for your review below with possible levels of support and resistance. Pay attention to the many gaps on this chart occurring because of overnight moves.
Good morning Traders! Below are the holiday trading hours for this Christmas holiday 2011. If you have any questions call us at (800) 454-9572. Good trading!
Friday, December 23 Futures Trading Hours
CME Group (Floor)
12:00 pm Close: Foreign Exchange and Interest Rate products
* All other products regular close
NYMEX (Floor)
12:30 pm Close
GLOBEX
Regular Close
ICE
12:00 pm Close: Open outcry Financial products
3:15 pm Close: Index products
* All other products regular close
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.
