Open An Account
Free Demo Account Subscribe Here

Tag: Futures Trading Levels & Economic Reports

Futures and Commodity Trading Blog, September 20th 2010

Posted on by Ilan

Market finally broke to the upside but like always “tries to make it harder” for us traders…. The upside breakout lacked momentum and / or continuation, at least today. However, I have shifted my swing trading stance to cautiously bullish as long as SP500 can hold above 1105.75….

FOMC next Tuesday along with busy Thursday / Friday economic and speaking schedule.

Have a great weekend, take time to recharge the brain and “clean it” from all the ” I should have placed a stop at this price and i should have taken that trade” etc….Once a trader has a concept they feel good about, the rest of the battle is mostly mental one with yourself.

Continue reading “Futures and Commodity Trading Blog, September 20th 2010”

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 Trading Levels & Economic Reports for July 21st 2010

Posted on by Ilan

Nice bounce after touching some FIB levels during overnight session/early morning. FIBONACCI levels been providing good support/ resistance levels so far when applied over multiple time frames. ( daily, hourly, 15 minutes etc. )

Below is a daily chart of the E Mini S&P 500 futures contract with FIBONACCI levels drawn.
Notice todays lows and highs.

We are closing against highs and some momentum during the night session can help this market visit 1099. Failure against the 1081 level and we are back to range bound trading.

EP - E Mini Standard & Poor's 500 (S&P), Equalized Active Daily Continuation
EP – E Mini Standard & Poor’s 500 (S&P), Equalized Active Daily Continuation

Continue reading “Futures Trading Levels & Economic Reports for July 21st 2010”

Futures Trading Levels & Economic Reports for July 20th 2010

Posted on by Ilan

A quick look at mini Russell 2000 daily chart, as I view the mini Russell as being the leader in price action amongst different indices over past few months.

Daily chart below shows how we’ve been making lower highs and lower lows.

If the pattern continues, I see us visiting the 553-556 area over next few days. On the flip side we need to see a break above 650 in order to provide the bulls with more courage.

TFE - Russell 2000 Index Mini (S100) (ICE), Equalized Active Daily Continuation
TFE – Russell 2000 Index Mini (S100) (ICE), Equalized Active Daily Continuation

Continue reading “Futures Trading Levels & Economic Reports for July 20th 2010”

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”

Futures Trading Levels & Economic Reports for July 16th 2010

Posted on by Ilan

Interesting action today! Not sure what to make of it, there is a case for the bulls and a case for the bears. I am thinking that as a swing trader, one can try to short the market with a stop slightly above the recent highs ( recent high was around 1100 ). Taking the approach that while chances of getting stopped out are higher than normal, the relative risk is smaller than the relative potential reward. On the other hand, bulls may get more confidence going long if market breaks above 1103 or so..

Daily chart for review below.

EP - E Mini Standard & Poor's 500 (S&P), Equalized Active Daily Continuation
EP – E Mini Standard & Poor’s 500 (S&P), Equalized Active Daily Continuation

Continue reading “Futures Trading Levels & Economic Reports for July 16th 2010”

Futures Trading Levels & Economic Reports for July 13th 2010

Posted on by Ilan

Daily chart below of mini SP 500 shows that we are trading against some potential resistance right around the 1081 level. I think the next few days will carry higher volatility than last two trading sessions and should provide more volatility and ranges for day-traders.

EP - E Mini Standard & Poor's 500 (S&P), Equalized Active Daily Continuation
EP – E Mini Standard & Poor’s 500 (S&P), Equalized Active Daily Continuation

Continue reading “Futures Trading Levels & Economic Reports for July 13th 2010”

Futures Trading Levels & Economic Reports for July 7th 2010

Posted on by Ilan

The futures markets in general had some “futures trading to make up” after the long weekend and we some strong moves and bit more volatility in variety of commodity and futures markets.

I mentioned on Friday blog:
“Stock indices are getting a bit oversold and I suspect that sometime next week we should see a good, short covering rally. However, i don’t try to predict when it will happen but rather use price action with support/resistance lines to get a confirmation. Daily chart of the e mini Russell 2000 for your review below. A break above 613 would give me more confidence in taking a trade from the long side, until then the trend is still pointing lower.”

Well.. today we did see a nice rally that peaked at 612.20 on Sept. mini Russell and headed south afterwards.

In today’s chart I decided to share the popular and followed Dow Jones index. Same analysis from Friday still holds. While indices may be oversold, I would like to see more follow through on the buy side instead of price failure like we saw in today’s session. 9913 is my level to watch on the Dow Jones cash index.

SP 500 Day Trading for July 6th 2010
SP 500 Day Trading for July 6th 2010

Continue reading “Futures Trading Levels & Economic Reports for July 7th 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.