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Daily Support & Resistance and Economic Data to be Released, October 13th 2010

Posted on by Ilan

 

Daily Support & Résistance Levels Mini-S&P 500 Futures
Dec. 10		 Mini-Nasdaq 100 Futures
Dec. 10		 Mini-Dow Futures
Dec. 10		 Mini Russell 2000 Futures
Dec.10		 30-year US Bond Futures
Dec. 10		 10-Year US Note
Futures Dec. 10
Support 3 1151.00 2009.00 10843 681.70 13117 12528
Support 2 1156.50 2020.00 10891 686.10 13209 12616
Support 1 1162.75 2032.00 10946 691.00 13300 12626
Resistance 1 1174.75 2058.75 11044 700.30 13314 12703
Resistance 2 1181.50 2063.00 11115 706.60 13403 12707.5
Resistance 3 1188.25 2083.00 11139 719.70 13412 12711
Daily Support & Resistance Levels
 Gold Futures
Dec.2010		 Silver Futures
Dec. 2010		 Copper Futures
Dec. 2010		 Crude Oil Futures
Nov. 2010		 Euro Curr.
Dec. 2010		 Dollar Index
Dec. 2010
Support 3 1339.0 22.85 3.750 80.88 1.3768 .7629
Support 2 1348.0 23.16 3.771 81.69 1.3857 .7705
Support 1 1353.0 23.34 3.795 82.47 1.3912 .7717
Resistance 1 1366.0 23.68 3.841 82.99 1.4001 .7754
Resistance 2 1375.0 23.81 3.860 83.50 1.4026 .7766
Resistance 3 1391.0 24.09 3.880 84.43 1.4113 .7778

Updated: 13-Oct-10 08:32 ET

This Week’s Calendar

Click on a “Release” for Insight

Date ET Release For Actual Briefing.com Consensus Prior Revised From
Oct 13 07:00 MBA Mortgage Applications 10/08 NA NA -0.2%
Oct 13 08:30 Export Prices ex-ag. Sep NA NA 0.5%
Oct 13 08:30 Import Prices ex-oil Sep NA NA 0.3%
Oct 13 14:00 Treasury Budget Sep -$32.0B -$33.5B -$46.6B
Oct 14 8:30 Initial Claims 10/09 450K 450K 445K
Oct 14 8:30 Continuing Claims 10/02 4450K 4450K 4462K
Oct 14 08:30 PPI Sep 0.1% 0.2% 0.4%
Oct 14 08:30 Core PPI Sep 0.1% 0.1% 0.1%
Oct 14 08:30 Trade Balance Aug -$40.0B -$44.5B -$42.8B
Oct 14 11:00 Crude Inventories 10/09 NA NA 3.09M
Oct 15 08:30 CPI Sep 0.1% 0.2% 0.3%
Oct 15 08:30 Core CPI Sep 0.1% 0.1% 0.1%
Oct 15 08:30 Retail Sales Sep 0.2% 0.4% 0.4%
Oct 15 08:30 Retail Sales ex-auto Sep 0.1% 0.4% 0.6%
Oct 15 08:30 NY Fed – Empire Manufacturing Survey Oct 3.0 5.75 4.10
Oct 15 09:55 Mich Sentiment Oct 67.0 68.5 68.2
Oct 15 10:00 Business Inventories Aug 0.4% 0.5% 1.0%

SEE FULL LIST HERE

13. OCT. 2010    Today´s Highlighted Splits

SYMBOL COMPANY EVENT TITLE EPS ESTIMATE EPS ACTUAL PREV. YEAR ACTIVITY DATE/TIME (ET)
HST Host Hotels & Resorts Inc. Q3 2010 Host Hotels & Resorts Inc. Earnings Release $ 0.11 n/a $ 0.11 13-Oct BMO
JPM JPMorgan Chase & Co. Q3 2010 JPMorgan Chase & Co. Earnings Release $ 0.90 n/a $ 0.82 13-Oct 7:00 AM
APOL Apollo Group Q4 2010 Apollo Group Earnings Release $ 1.30 n/a $ 1.06 13-Oct AMC
ACGY Acergy S.A. Q3 2010 Acergy S.A. Earnings Release $ 0.28 n/a $ 0.29 13-Oct
MTOX MEDTOX Scientific, Inc. Q3 2010 MEDTOX Scientific, Inc. Earnings Release $ 0.13 n/a $ 0.09 13-Oct 6:00 AM
TESS TESSCO Q2 2011 TESSCO Earnings Release $ 0.44 n/a $ 0.51 13-Oct AMC

Continue reading “Daily Support & Resistance and Economic Data to be Released, October 13th 2010”

Daily Support & Resistance and Economic Data to be Released, October 12th 2010

Posted on by Ilan

 

Daily Support & Résistance Levels Mini-S&P 500 Futures
Dec. 10		 Mini-Nasdaq 100 Futures
Dec. 10		 Mini-Dow Futures
Dec. 10		 Mini Russell 2000 Futures
Dec.10		 30-year US Bond Futures
Dec. 10		 10-Year US Note
Futures Dec. 10
Support 3 1146.00 1989.00 10770 675.90 13209 12607
Support 2 1150.50 2006.00 10851 680.00 13300 12625
Support 1 1155.50 2016.50 10897 684.00 13326 12703
Resistance 1 1165.00 2035.00 10984 696.90 13519 12722
Resistance 2 1171.25 2051.00 11010 701.60 13612 12727.5
Resistance 3 1174.75 2063.00 11115 707.40 12627 12810.5
Daily Support & Resistance Levels
 Gold Futures
Dec.2010		 Silver Futures
Dec. 2010		 Copper Futures
Dec. 2010		 Crude Oil Futures
Nov. 2010		 Euro Curr.
Dec. 2010		 Dollar Index
Dec. 2010
Support 3 1308.5 22.35 3.720 80.30 1.3667 .7705
Support 2 1326.0 22.86 3.750 80.88 1.3740 .7748
Support 1 1341.0 22.96 3.780 81.55 1.3767 .7773
Resistance 1 1356.0 23.31 3.800 82.48 1.3831 .7799
Resistance 2 1366.0 23.40 3.822 83.50 1.3864 .7817
Resistance 3 1375.0 23.67 3.867 84.43 1.3924 .7878

Updated: 12-Oct-10 7:59 ET

This Week’s Calendar

Click on a “Release” for Insight

Date ET Release For Actual Briefing.com Consensus Prior Revised From
Oct 12 14:00 Minutes of FOMC Meeting 9/21
Oct 13 07:00 MBA Mortgage Applications 10/08 NA NA -0.2%
Oct 13 08:30 Export Prices ex-ag. Sep NA NA 0.5%
Oct 13 08:30 Import Prices ex-oil Sep NA NA 0.3%
Oct 13 10:30 Crude Inventories 10/09 NA NA 3.09M
Oct 13 14:00 Treasury Budget Sep -$32.0B -$33.5B -$46.6B
Oct 14 08:30 Initial Claims 10/09 450K 450K 445K
Oct 14 08:30 Continuing Claims 10/02 4450K 4450K 4462K
Oct 14 08:30 PPI Sep 0.1% 0.2% 0.4%
Oct 14 08:30 Core PPI Sep 0.1% 0.1% 0.1%
Oct 14 08:30 Trade Balance Aug -$40.0B -$44.5B -$42.8B
Oct 15 08:30 CPI Sep 0.1% 0.2% 0.3%
Oct 15 08:30 Core CPI Sep 0.1% 0.1% 0.1%
Oct 15 08:30 Retail Sales Sep 0.2% 0.4% 0.4%
Oct 15 08:30 Retail Sales ex-auto Sep 0.1% 0.4% 0.6%
Oct 15 08:30 NY Fed – Empire Manufacturing Survey Oct 3.0% 5.75 4.10
Oct 15 09:55 Mich Sentiment Oct 67.0 68.5 68.2
Oct 15 10:00 Business Inventories Aug 0.4% 0.5% 1.0%

12. OCT. 2010 – Today´s Highlighted Splits

SYMBOL COMPANY EVENT TITLE EPS ESTIMATE EPS ACTUAL PREV. YEAR ACTIVITY DATE/TIME (ET)
INTC Intel Corporation Q3 2010 Intel Corporation Earnings Release $ 0.50 n/a $ 0.33 12-Oct
CSX CSX Corporation Q3 2010 CSX Corporation Earnings Release $ 1.04 n/a $ 0.74 12-Oct AMC
FAST Fastenal Q3 2010 Fastenal Earnings Release & September 2010 Sales Release $ 0.50 n/a $ 0.32 12-Oct BMO
VOXX Audiovox Corporation Q2 2011 Audiovox Corporation Earnings Release $ 0.00 n/a $ 0.04 12-Oct AMC
DIET eDiets.com, Inc. Preliminary Q3 2010 eDiets.com, Inc. Earnings Release n/a n/a n/a 12-Oct BMO
AIP.L AIR PARTNER Preliminary 2010 AIR PARTNER Earnings Release n/a n/a n/a 12-Oct BMO

Continue reading “Daily Support & Resistance and Economic Data to be Released, October 12th 2010”

FOMC to Provide Futures Trading Market with Direction, September 21st, 2010

Posted on by Ilan

FOMC tomorrow around 2:15 Eastern time. Even before that we will start the day with some important housing numbers. 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 are 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 some sharp volatile moves right during and after the announcement. I am including 5 minutes chart from August 10th of this year, which was the last FOMC we had for your reference. Continue reading “FOMC to Provide Futures Trading Market with Direction, September 21st, 2010”

Quadruple Witching to Provide S&P 500 with Clues, September 17th 2010

Posted on by Ilan

Same comments from yesterday and the day before still hold true….main difference is the tomorrow is quadruple witching day so I am hopeful that we finally break out one way or the other……

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 “Quadruple Witching to Provide S&P 500 with Clues, September 17th 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?”

Strong Start for Online Futures Trading, Day Trading Webinar and Levels for August 26th 2010

Posted on by Ilan

“Day Trading Webinar and Levels”

Below is a screen shot from today’s “Live Chart” service I provide. If you are interested in 2 weeks free trail,

please visit: https://www.cannontrading.com/tools/intraday-futures-trading-signals

EPUO - E-mini S&P 500, Sep 10, 10000 Contracts : Constant Volume Bar
EPUO – E-mini S&P 500, Sep 10, 10000 Contracts : Constant Volume Bar

Continue reading “Strong Start for Online Futures Trading, Day Trading Webinar and Levels for August 26th 2010”

Futures Exchange: Using Different Day Trading Techniques August 17th 2010

Posted on by Ilan

“The News can really Move the Futures Market”

Somewhat of a quiet day on the futures exchange to start the week after some volatile sessions last week. As I’ve said many times before, if a trader can recognize early enough during the trading session, what type of trading day is about to unfold, then one can use the proper day-trading technique more suitable for that day.

Some examples may include: join the trend on trending day, mean aversion techniques on choppy days and much more.

On a different note, I got a blue diamond for tomorrow’s session which can mean potential up day if the market can break above 1083.00 or….continued decline if it fails to gain some upside momentum. Daily chart for review below:

EP - E- Mini S&P 500, Equal Active Daily Continuation
EP – E- Mini S&P 500, Equal Active Daily Continuation

Continue reading “Futures Exchange: Using Different Day Trading Techniques August 17th 2010”

One Way to Eliminate Fear and Greed While Day Trading

Posted on by Ilan

One Way to Eliminate Fear and Greed While Day Trading

It is a known fact that fear and greed can be a trader’s worst enemies. I’ve found one way that has helped some clients deal with fear and greed and their cousin, “getting out of winners too soon and staying in losers too long.”

What is it? Entering multiple contracts

In order to enter multiple contracts while day trading, one has to have the appropriate risk capital and margin requirements. But the advantage of trading more than one “unit” or splitting your trading size into two or more parts is as such:

If you enter a trade with one contract (or if you are treating your trading size as one unit, meaning you enter a trade with 4 contracts and exit the trade with 4 contracts), you can face a very quick dilemma (especially when day-trading). Consider the two following scenarios:

1. You get in and very quickly you are up 2 mini SP points…what do you do? Do you take profit? Bring your stop loss closer? How do you avoid getting out too early or too late?

2. You enter a trade and it goes against you rather quickly…if you get out then it is a loser…but the little voice in your head says “what if the market goes back up?”

Continue reading “One Way to Eliminate Fear and Greed While Day Trading”

Futures Trading Levels & Economic Reports for July 19th 2010

Posted on by Ilan

Quick note about good trading days/periods, bad trading days/periods..

I sometimes hear from clients, that they are not happy because after a period of making money and trading well they are now in a period of ‘scratching’ or losing a ‘little’. If this is the case you are doing well! Why (you may ask)? Because if your bad periods are small losses or scratch, you will be there for the good periods and the next leg up hopefully. However, if your bad trading days/periods include very large losses or drawdowns you may have to go back to the drawing board since the math will not make sense when it’s all said and done.

I have detailed more on the subject in an article I wrote a few years back, called ‘Survivor day-trader’. If you’d like a copy, please send me an email with name, email address, tel number. Please specify if you are a client of cannon or not. I will only email the article to those clients/prospects who provided me with correct information. Thanks for your cooperation!

Continue reading “Futures Trading Levels & Economic Reports for July 19th 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.