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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Trading Levels & Economic Reports for 10-20-2011

Posted on by Ilan

 

In this post:

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

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1. Market Commentary

Volatility remains high and what I wrote yesterday, still holds:

As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks.

One more point that I would like to add that have helped me when I followed and hurt me when I ignored…

When volatility is higher than normal, like we have now, I try to REDUCE my trading size. This allows me to stay in a trade with higher comfort level instead of getting out too soon from winners and too late from losers….The principal is correct regardless of volatility but even more so when markets experience fast and sharp moves. Continue reading “Trading Levels & Economic Reports for 10-20-2011”

Trading Levels & Economic Reports for 10-19-2011

Posted on by Ilan

In this post: 1. Market Commentary 2. Support and Resistance Levels 3. Daily Mini Mini S&P 500 Futures Chart divider black 190

1. Market Commentary

Tremendous volatility across the markets today with some news out of Europe moving most markets much higher. As far as the daily chart, I am now confused again….I got tempted on the short side and got burnt very quickly today….Once again there is a CASE for both sides, bulls and the bears and the potential for a BIG MOVE EITHER WAY is greater than normal as we are sitting on important price levels in the SP500, which has been the leader for the rest of the markets as of the last few weeks. Fast and furious moves like we have seen today encourage me to revisit the point of using AUTO stops when day trading. Many traders will disagree with me but I have seen the markets make such fast moves that by the time one decides where and when to place a stop…the market already made a very powerful move against you. I think that as a day trader who is looking to only make a few ticks on the trade, you should decide on the appropriate worst case scenario stop ( measured in ticks or $$) and use your trading software to place these stops and/ or targets as soon as you enter your position. Most of our trading platforms have that feature and your broker will be more than happy to review it with you. Continue reading “Trading Levels & Economic Reports for 10-19-2011”

Trading Levels & Economic Reports for 10-18-2011

Posted on by Ilan

In this post:

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

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1. Market Commentary

On Friday I wrote the following:

Interesting price action today and we closed right at the 1220 level I have been talking about these last few days.

 

Market closed right on the high and I think that price action on Monday will be very important to watch.

 

Follow through and a CLOSE above 1220 can open the door for a more significant rally, on the other hand if the market fails against this level and start picking up momentum on the downside, I will get a sell signal.

Well after seeing today’s price action, I think we may have more room to the downside. If we can take out 1188, we may see 1154.

REGARDLESS of your market view, trading direction etc., more important is how one manages the trade, calculate the risk and control one own emotions in a way that enables you to execute your game plan, which at times will produce winners and at times will produce losers. Continue reading “Trading Levels & Economic Reports for 10-18-2011”

Trading Levels & Economic Reports for 10-17-2011

Posted on by Ilan

In this post:

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

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1. Market Commentary

Interesting price action today and we closed right at the 1220 level I have been talking about these last few days.

Market closed right on the high and I think that price action on Monday will be very important to watch.

Follow through and a CLOSE above 1220 can open the door for a more significant rally, on the other hand if the market fails against this level and start picking up momentum on the downside, I will get a sell signal.

At this point I am flat and waiting for price action during the day session Monday before deciding which way and if to attack this market. Continue reading “Trading Levels & Economic Reports for 10-17-2011”

Trading Levels & Economic Reports for 10-14-2011

Posted on by Ilan

 

In this post:

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

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1. Market Commentary

Full day ahead with important economic numbers along with G20 meeting taking place over the weekend. Continue reading “Trading Levels & Economic Reports for 10-14-2011”

Trading Levels & Economic Reports for 10-13-2011

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels

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1. Market Commentary

I read the following on the Wall St. blog and thought it is worth sharing:
“S&P 500, With ‘Violence and Passion,’ Soars Right to the Roof of Its Range” – By Steven Russolillo Continue reading “Trading Levels & Economic Reports for 10-13-2011”

Trading Levels & Economic Reports for 10-12-2011

Posted on by Ilan

In this post:

1. Real-Time Day Trading Signals Service
2. Support and Resistance Levels
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1. Real-Time Day Trading Signals Service

View Ilan’s E Mini S&P 500 charts. Read his trading notes. Hear his commentary. All live!
To get started, simply fill out the short form here!

We will send you your free invitation within one business day.
Please note, a valid email address and phone number are required. Continue reading “Trading Levels & Economic Reports for 10-12-2011”

Trading Levels & Economic Reports for 10-11-2011

Posted on by Ilan


In this post:

1. Market Commentary

2. Support and Resistance Levels

3. Daily Mini Mini S&P 500 Futures Chart

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1. Market Commentary

Today’s rally was impressive and completed my target I mentioned over a week ago.

We crossed the 50 day moving average and closed above it as well. The BIG question is ” was the fact that this price action took place during a bank holiday on MUCH lower volume be a fake out?”

I guess the next few days will provide answers, in between daily chart of the SP500 ( big Sp, pit session) for your review below ( I included the 50 day Moving Avg. as well as the 100 day moving avg.): Continue reading “Trading Levels & Economic Reports for 10-11-2011”

Take Note of the Columbus Day Schedule for Monday | 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. Highlighted Earnings Releases

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1. Market Commentary

This morning un employment report lived up to its expectations….providing a volatile two sided action.

Subscribers to our daily webinar or to the LEVEX DIAMOND algo had access in real time to this 15 minutes mini SP chart below.

LEVEX DIAMOND Algo in the S&P 500 Futures Chart from October 7, 2011

LEVEX DIAMOND Futures Chart from October 7, 2011 Continue reading “Take Note of the Columbus Day Schedule for Monday | Support and Resistance Levels”

Report May Lead to Large Market Moves | Support and Resistance Levels

Posted on by Ilan

In this post:

1. Market Commentary
2. Support and Resistance Levels
3. Notice to the Futures Trader
4. Economic Reports

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1. Market Commentary

The main thing about tomorrows report is the MARKET PERCEPTION of the data….

If the market takes the data in a positive way, we may see 1175 and maybe higher on the mini SP 500, on the other hand if the market “does not like the data”…then 1129 will be the first stop on the way down.

By the way you can listen to the SP500 squawk box live tomorrow ( you can login before the market open and listen to the un employment data as it comes out live.)

The trial is open this week and will be available until market close on Oct.7th so visit: traderaudio.com to start listening now.

Username: open

Password: squawk

Continue reading “Report May Lead to Large Market Moves | 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.