Happy Thanksgiving to everyone.
Weekly newlstter + holiday trading hours at:
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https://www.cannontrading.com/community/newsletter/
************************************************************** Continue reading “Weekly Futures Trading Newsletter and Trading Levels, November 25th 2010”
Busy day ahead tomorrow with significant reports through out the day. Markets are closed Thursday in observance of Thanksgiving and then open half day on Friday.
Overnight news from N Korea and Europe definitely had much bigger on the markets than any technical chart formations…but “looking forward” we sometimes have to look back in trying to project price action.
Levels for your review on the daily mini SP 500 chart below. 1151 is first major support in case declines continues.
Continue reading “Futures Trading Levels and Markets Schedule for November 24th 2010”
Busy day ahead tomorrow with significant reports through out the day and ahead of short trading week due to Thanksgiving holiday.
Mini SP 500 hourly chart with levels for your review below:
Continue reading “Futures Trading Levels and Economic Data for November 23rd 2010”
Weekly newsletter for your review posted at:
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https://www.cannontrading.com/community/newsletter/
*************************************************************** Continue reading “Weekly Newsletter and Futures Trading Levels for November 18th 2010”
Wishing all of you a great weekend and a successful trading week ahead.
Last two trading days we witnessed increased volatility, which usually provides for better day-trading ranges.
Understanding ahead of time what is the risk you are willing to take, accepting this risk when you enter a trade can help you manage your trades in a calmer way. Continue reading “Continued Increased Volatility in Futures Trading Market for November 15th 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”
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.
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”
