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.

Quick Links: Commissions | Day Margins | Contact Us
Open An Account
Free Demo Account Subscribe Here

October Markets May Revisit August Lows | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports

divider black 190

1. Market Commentary

First trading day of October started negative for stock indices and it seems that a retest of 1070 lows from August is on the way.

October however, started very positive for my day-trading model/ ALGO.

What you see below is a screen shot from the last hour or so of trading on the mini SP. You will notice DIAMONDS markings on the chart. These markings appear BEFORE THE BAR STARTS and are an output of what I have been working for over two years in an attempt to find an indicator that is LEADING by nature and NOT LAGGING….obviously not all days are as powerful as what you see in the chart below but for me this has been the one day-trading tool I have the most confidence in so far.

The DIAMONDS ALGO and a few other studies are available for traders to try using sierra charts, where one can apply the ALGO on different markets and different time frames at anytime on their PC (my recommended method) and/or via my webinar, where one is limited to see the few charts I share during US stock market hours. You can have a trial of either one if you have NOT had one before. Continue reading “October Markets May Revisit August Lows | Support and Resistance Levels”

Day-Trading Tactics for October | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart from September 30, 2011
4. Economic Reports

divider black 190

1. Market Commentary

For October I would like to wish everyone a month full of trading patience, of wise money management, of disciplined trading and “picky” trades.

If you will be able to control yourself and implement what I mentioned above, it should be a successful trading month!

From technical point of view, the market is bearish but not sure if this matters to most of you, since the majority are day-traders by nature, which brings me to another point….

If you are a day-trader who uses very short time frame and quick profits as a trading method, then your risk parameters should be adjusted accordingly. In simple language if you are looking to make 2 points mini SP profit, why risk 10 or more points? Losses are part of trading and I don’t know ANYONE who wins 100% of the time, that means that as a trader you must learn to accept losses and use “makes-sense” money management.

Daily chart of the mini SP 500 for your review below: Continue reading “Day-Trading Tactics for October | Support and Resistance Levels”

Last Trading Day of September | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Economic Reports

divider black 190

1. Market Commentary

Last trading day of the month is upon us and for October I would like to wish everyone a month full of trading patience, of wise money management, of disciplined trading and “picky” trades.

If you will be able to control yourself and implement what I mentioned above, it should be a successful trading month! Continue reading “Last Trading Day of September | Support and Resistance Levels”

Market Analysis of the S&P500 PIT Session Hourly Chart | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports

divider black 190

1. Market Commentary

I am back talking about the gaps and the PIT session SP500 as I have been for the last few days.

We closed the gap at 1159 going down today and a look at hourly chart suggest that the short term gaps are all filled. Bit oversold on the downside but overall my indicators suggest short to medium term further downside pressure – however the market will need to take out 1070 before we can see another leg down, until then we should see volatility both ways. Continue reading “Market Analysis of the S&P500 PIT Session Hourly Chart | Support and Resistance Levels”

The Importance of Underlying Assets in Futures Trading | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases

divider black 190

1. Market Commentary

I have been talking about the gaps and looking at the pit session SP500 which is the big SP ( each point = $250 versus $50 each point on the mini SP)

Another importance of the big SP or the PIT session, is that it tracks the hours of the cash SP500 index which is the UNDERLYING ASSET the SP and mini SP futures trade on.

Yesterday I wrote the following:

If market has more volume on the buy side, the next target is 1185, on the other hand if volume dries out up in these levels, I will be watching price action around 1149 and 1129 before deciding which way offers better risk/ reward.

Looks like overnight moves overseas brought in more volume on the buy side and we closed one gap and even went higher…..but now we have a gap from today’s session at 1159…..

Hourly chart of SP 500 ( pit session ) for your review below: Continue reading “The Importance of Underlying Assets in Futures Trading | Support and Resistance Levels”

Keeping an Eye on Market Volatility in the Pit S&P | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases

divider black 190

1. Market Commentary

We closed the first gap on the pit session/ BIG SP as you can see below.

If market has more volume on the buy side, the next target is 1185, on the other hand if volume dries out up in these levels, I will be watching price action around 1149 and 1129 before deciding which way offers better risk/ reward.

At this point, I am neutral and will wait for market to give me some clues before deciding which way to attack.

Daily SP 500 chart for your review below: Continue reading “Keeping an Eye on Market Volatility in the Pit S&P | Support and Resistance Levels”

High Volatility This Week and 8 Steps to Successful Futures Trading | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Download “8 Steps to Successful Futures Trading”
5. Economic Reports
6. Earnings Releases

divider black 190

1. Market Commentary

Wow, what a day in the metals segment and what a week in general. Fits perfectly what I wrote the last few days:

ALWAYS EXPECT THE UNEXPECTED! When volatility skyrockets like now, moves become extreme, the speed of the market really picks up and this is when one must adjust their trading size lower to accommodate for the wilder and wider moves.

My 15 min mini SP chart below for your review ,clients who attend my daily live charts program had access to this chart in real-time, along with the signals generated. Continue reading “High Volatility This Week and 8 Steps to Successful Futures Trading | Support and Resistance Levels”

New Margin Requirements US Dollar Index, Continuous Commodity Index, RJ CRB Index

Posted on by Ilan

Please be aware of the following margin requirement changes effective with the opening of business on Tuesday, September 27, 2011 and thereafter. The affected contracts are the US Dollar Index (DX), the Continuous Commodity Index (CI), and the RJ/ CRB Index (CR)

Outright Margin Requirement Changes

Contract New Margin Change
US Dollar Index (DX) 1,500 USD +50 USD
Continuous Commodity Index (CI) 16,000 USD +8,000 USD
RJ/CRB Index (CR) 700 USD +200 USD

New Inter-commodity Spread Credits September 2011

Posted on by Ilan

Effective with the opening of business on Tuesday, September 27, 2011 and thereafter are the following New Inter-commodity Spread Credits.

New Inter-commodity Spread Credits

Commodities Position Spread Credit
AUD/CAD(AS) : AUD/USD(KAU) : USD/CAD(SV) long-short-short (1:1:1) 75%
AUD/USD(KAU) : NZD/USD(ZX) : UAD/NZD(AR) long-short-short (4:1:1) 70%
AUD/USD(KAU) : NZD/USD(KZX) : AUD/NZD(AR) long-short-short (4:2:1) 70%
EUR/USD(KEO) : EUR/CAD(KEP) : USD/CAD(SV) short-long-short (1:2:1) 70%
EUR/USD(KEO) : EUR/GBP(KGB) : GBP/USD(MP) long-short-short (2:1:2) 75%
EUR/JPY(KEJ) : EUR/CHF(KRZ) : CHF/JPY(KZY) long-short-short (4:2:1) 90%
EUR/CHF(KRZ) : GBP/CHF(SS) : EUR/GBP(KGB) long-short-short (2:1:1) 80%
EUR/CHF(KRZ) : USD/CHF(MF) : EUR/USD(KEO) long-short-short (2:1:1) 65%
NZD/USD(KZX) : NZD/USD (ZX) long-short (2:1) 100%
EUR/USD(KEO) : US DOLLAR INDEX(DX) long-long(2:3) 75%

Inter-commodity Spread Credit Changes

Commodities Position New Spread Credit Change
EUR/USD(KEO) : EUR/CAD(KEP) : CAD/USD(KSV) long-short-short (2:1:1) 65% -5%
AUD/CAD(AS) : AUD/USD(KAU) : CAD/USD(KSV) long-short-long (1:3:1) 70% +5%
Russell 1000 Index Mini (RF) : Russell 1000 Index Growth Mini (RG) long-short (1:1) 90% +5%
Russell 1000 Index Growth Mini (RG) : Russell 1000 Index Value Mini (RV) long-short (1:1) 90% +5%
Russell 2000 Index Mini (TF) : Russell 1000 Index Mini (RF) long-short (1:1) 85% +10%
Russell 2000 Index mini (TF) : Russell 1000 Index Growth Mini (RG) long-short (1:1) 80% +10%
Russell 2000 Index Mini (TF) : Russell 1000 Index Value Mini (RV) long-short (1:1) 85% +15%

High Market Volatility as Shown by S&P 500 Pit Session | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases

divider black 190

1. Market Commentary

Days like today and yesterday encourage me to repeat what I wrote yesterday:

ALWAYS EXPECT THE UNEXPECTED! When volatility skyrockets like now, moves become extreme, the speed of the market really picks up and this is when one must adjust their trading size lower to accommodate for the wilder and wider moves.

Below is an hourly chart of SP500 pit session. Notice the gaps we have from overnight moves.

I think if we can break 1132, market may have a shot at closing the gap all the way up at: 1155 Continue reading “High Market Volatility as Shown by S&P 500 Pit Session | Support and Resistance Levels”

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.