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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Commodities and Futures Trading Levels, September 16th 2010

Posted on by Ilan

Well by now this is the 3rd or 4th time we are knocking on 1122.75…..that means one out of two (in my opinion): Tomorrow morning reports help this market break this level and start another leg up towards 1157.00

OR…..

Market fails one more time against this level, fills the gap below ( 1105.75) before giving us some additional clues.

I would love to have the “correct answer” to give you but only time and price action will tell….

SP 500 Day Trading
SP 500 Day Trading

Continue reading “Commodities and Futures Trading Levels, September 16th 2010”

1122.75 Will be Decision Level to Break Upside, September 15th 2010

Posted on by Ilan

I wrote yesterday:

“Looks like 1122 should be a decision level based on the chart below.”

Well very similar comments today…… looks like 1122.75 should be decision level if we are to break upside, while 1105.75 to 1109.25 is the support to watch. Chart for your review below.

SP 500 Day Trading
SP 500 Day Trading

Continue reading “1122.75 Will be Decision Level to Break Upside, September 15th 2010”

1122 on SP 500 Futures Will be Point of Decision, September 14th 2010

Posted on by Ilan

Looks like 1122 should be a decision level based on the chart below.

Wishing all of you a great trading week. For a free 2-week trial to live intraday trade set ups on the mini SP 500, please visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals

SP-500-Day-Trading-2010-09-14-150x150

Continue reading “1122 on SP 500 Futures Will be Point of Decision, September 14th 2010”

Futures Stock Indicies Have Officially Rolled Over, September 13th 2010

Posted on by Ilan

December is now the front month for stock indices, currencies, financials and many other markets.

You should not be trading any September contracts.

Chart of Mini SP 500 for your review below ( December continuous chart)

Have a great weekend!

SP 500 Day Trading
SP 500 Day Trading

Continue reading “Futures Stock Indicies Have Officially Rolled Over, September 13th 2010”

Future Stock Indices Due for Rollover, September 10th, 2010

Posted on by Ilan

Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 9th at 8:30 am Chicago time from the September 2010 contract to the December 2010 contract. The month code for December is ‘Z’. It is recommended that all new positions be placed in the December contract as of Thursday’s trade date. Please close any open September Currencies positions by the close on Friday the 10th. Should you have any further questions please contact your broker.

Continue reading “Future Stock Indices Due for Rollover, September 10th, 2010”

Future Stock Indices Due for Rollover, September 9th, 2010

Posted on by Ilan

Please note that Equity Indices products; TF, ES, NQ, EMD and YM roll on Thursday the 9th at 8:30 am Chicago time from the September 2010 contract to the December 2010 contract. The month code for December is ‘Z’. It is recommended that all new positions be placed in the December contract as of Thursday’s trade date. Please close any open September Currencies positions by the close on Friday the 10th. Should you have any further questions please contact your futures broker.

Continue reading “Future Stock Indices Due for Rollover, September 9th, 2010”

The Return of Traders Should Make for Better Market Rhythm, September 8th, 2010

Posted on by Ilan

“An Odd Rhythm Today After the Long Weekend”

Market had some what of an odd rhythm today after the long weekend. We saw big moves in both currencies and bonds. I think that we should see clearer picture tomorrow as more traders will be back after Labor day + we have a few economic reports while today we did not have any reports.
Some levels to watch for tomorrows action from the hourly chart below.

SP 500 Day Trading
SP 500 Day Trading

Continue reading “The Return of Traders Should Make for Better Market Rhythm, September 8th, 2010”

Will Stock Index Futures Upside Momentum Continue?

Posted on by Ilan

“We are Trading Right Against a Major Retracement Level at 1106.50”

I mentioned a couple of days ago that this morning report will determine if we can reach the 1100’s on the SP. Well the answer turned out to be YES. As always in the futures business the current question of what’s next is more important than the previous one….

Well we are trading right against a major retracement level at 1106.50.

As long as pull backs do NOT break 1093, my bias is to the upside. Tuesday should be interesting as we should get an indication if the upside momentum has more legs or not.

Until then, enjoy the long weekend, recharge. Keep in mind the regular session is closed Monday but there is a night session Sunday night and Monday night. More info below.

SP 500 Day Trading
SP 500 Day Trading

Holiday schedule at:
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https://www.cannontrading.com/community/newsletter/
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Continue reading “Will Stock Index Futures Upside Momentum Continue?”

Unemployment Numbers are The Deciding Factor for Futures Trading

Posted on by Ilan

“It’s a Wild Ride, so Hang on with Everything You’ve Got!”

Unemployment numbers tomorrow will provide some action ahead of the long weekend.

Holiday schedule at:
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https://www.cannontrading.com/community/newsletter/
************************************

Non Farm Payroll Report
Non Farm Payroll Report

Continue reading “Unemployment Numbers are The Deciding Factor for Futures Trading”

Stock Index Futures Start September with a Rally, September 2nd 2010

Posted on by Ilan

September Started Out with an Impressive Rally!

The slew of reports due tomorrow and Friday, will determine if this market will visit 1093 followed by 1106 or if this is the extend of the bounce. If I had to guess based on the momentum, I would say there is a good chance we will visit the 1100 area but of course this is just a guess….

Daily chart of Mini SP 500 for your review.

E Mini SP 500 Daily Chart
E Mini SP 500 Daily Chart

Continue reading “Stock Index Futures Start September with a Rally, September 2nd 2010”

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.