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”
As we asked many times before….is this bounce just a correction from the short term sell off we had over the last few days OR was the sell off of the last few days just a correction from the recent rally of last few weeks???
I wish I could tell you, but what I can share is that in situation like this one, it is wise to wait for market reaction, price behavior around key areas of support and resistance and perhaps look at a few time frames, i.e. look at 15 minute chart, an hourly chart and a daily chart…
Below you will see the hourly Mini SP chart and below that the mini SP Daily chart for your review along with key levels.
Mini SP 500 hourly chart:
Mini SP 500 Daily chart:
Continue reading “Recent Rally of Futures Trading Causes Short Term Sell Off, November 19th, 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”
Mini Nasdaq 100 daily chart for your review, we “stopped” right on the first support level, next level if we can break lower is 2023:
Continue reading “Mini Nasdaq 100 for Your Review for November 17th 2010”
The market feels to me as if it is either ready to pick up some more momentum to the downside or that this small correction ran its course and the trend up will resume….
I am looking at the following levels and price behavior around these levels to give me more clues as to which way the next move will be.
1206 on the way up (Dec. Mini SP 500) and 1189 on the way down.
Hourly chart FYI below:
Continue reading “Futures Trading Levels and Economic Reports for November 16th, 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”
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”