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.
All futures markets will be open as normal tomorrow, however banks will closed due to Veterans day and we will NOT have any economic reports.
Daily mini SP 500 chart with possible support/resistance levels for your review below:
Continue reading “Futures Trading Levels and Veterans Day Schedule, November 11th 2010”
We started out the week with slow trading day and narrow range on stock index futures.
I got a “small sell signal” on mini Dow, which I would like to see a bit more down move before acting on it, simply because volume was not sufficient enough to confirm a good probability of a correction. However, while the probability for down move is not big, the risk reward with a stop above the previous high is not bad….
Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. Continue reading “Futures Trading Levels and Economic Reports for Novemeber 9th 2010”
Have a great weekend!
GOOD TRADING!
TRADING LEVELS
Continue reading “Futures Trading Levels for November 8th, 2010”
Some potential levels to watch on the way up and/or on pullbacks in the mini Russell WEEKLY chart below:
Continue reading “Futures Trading Levels and Economic Reports for November 5th 2010”
FOMC came and gone. market had its normal volatile two sided action but finished on the highs.
I have said this before, many times you can see the “true market reaction” the day after FOMC.
Tomorrow and Friday (monthly un-employment figures) should be interesting and perhaps volatile trading days. Continue reading “FOMC Sparks True Futures Market Reaction, November 4th 2010”
A BIG 24 hours lay ahead….I suspect some volatility to hit the night markets as election results come out and then we jump right into FOMC tomorrow.
FOMC tomrrow around 2:15 Eastern time.
FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.
if you’re a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.
My observations suggest choppy, low volume up until announcement, followed by some sharp volatile moves right during and after the announcement.
I am including a five-minutes chart from Sept. 21st of this year, which was the last FOMC we had for your reference.
Two day FOMC starts tomorrow along with preliminary election news. Should provide for some interesting action in the second part of the trading week.
In between I still don’t see a longer term or a medium term swing trading set up I like, hence I currently focus on intraday set ups which I share in my daily “live charts/ webinar” service.
Daily Futures Day Trading Webinar:
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https://www.cannontrading.com/tools/intraday-futures-trading-signals
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Wishing you a great trading month in November. Big week ahead with elections, FOMC and more.
Enjoy the weekend. Continue reading “Futures Trading Levels and Economic Reports for November 1st 2010”
To be honest I don’t have any feel for the medium term outlook of stock indices.
I do like some of the intraday set ups we get in different markets such as Crude, Euro and the Mini SP.
We do have some reports tomorrow and it is the last trading day of the month so we should see some interesting price action.
As far as “mental tip”: keep reminding yourself that the hardest battle for a trader is waiting, patience and fighting ones own demons that normally appear when losing trades happen. Try to be among the tough ones who can control the negative emotions losing trades bring out and your trading will progress. Continue reading “Futures Trading Levels and Mental Tips for October 29th 2010”
Our Weekly Newsletter is Ready for Your Review at:
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https://www.cannontrading.com/community/newsletter/
**************************************************************** Continue reading “Futures Trading Levels and Weekly Newsletter for October 28th 2010”
