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Tag: futures trading

FOMC + Trading Levels and Economic Reports for May 1, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday May 1, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

The next 3 days can experience quite a bit of volatility in variety of markets.
We have ADP employment report tomorrow VERY early. Midday we will have FOMC. Thursday will start with rate decision over the EU and Friday is the monthly non farm payroll report. All these reports are market moving and will affect stock index futures, financials, metals, energies and other markets.

Continue reading “FOMC + Trading Levels and Economic Reports for May 1, 2013”

Futures Trading Levels and Economic Reports for April 25, 2013

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday April 24, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Day Trading Commodities with Crude Oil Futures

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:

Date: April 23, 2013


By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

 

Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures. 

Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.

Next is the contract size. Crude Oil futures are based on 100,000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.

Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.

One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand)  and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time…Read Full Article.

 

 

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Futures Trading Levels and Economic Reports for April 24, 2013

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday April 24, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

 Today we witnessed the possibility of erratic moves in the futures market.

From what I am reading, false rumors generated by hackers hit the news with: Explosions in the White House, Obama is hurt….
That resulted in the SP futures dropping 18 full points in matter of minutes.  An intraday chart of mini SP 500 for your review below. Note the huge price drop and volume between 12:06 and 12:12 central time.

That brings me to a point that I like to share, using “auto brackets when entering a trade”. This is my personal preference but when I enter day-trades, I like my software to immediately generate a stop and a limit**. I have the ability to modify these stops/ targets but at least I have orders in the system. This can help in situations like today, when different reports come out etc.

Most of our trading platforms have that ability of auto brackets and you can test drive two of my favorite platforms for free:

TransactAT

E-Futures

mini sp intraday chart

 

 

Futures Trading Levels and Economic Reports for April 11, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday April 11, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Daily Price Limit Methodology Now Effective 
Implemented Monday, April 8, 2013

Changes to the daily price limit methodology for CME and CBOT equity index futures went into effect Monday, April 8, 2013, in coordination with rollout of Market Wide Circuit Breaker changes in the underlying cash equity market. These changes were deferred from an earlier planned rollout date on February 4.

As previously announced, Market Wide Circuit Breakers, or trading halts, for cash equity markets are now determined by declines in the S&P 500 Index (vs. the Dow Jones Industrial Average). Trading halt levels are as follows:

 

Levels as of
April 8, 2013

Effective Hours of 
Levels as of April 8, 2013
Level 1

7%

8:30 a.m. CT – 3:00 p.m. CT
Level 2

13%
Level 3

20%
Overnight

5%

3:00 p.m. CT – 4:15 p.m. CT;
5:00 p.m. CT – 8:30 a.m. CT

 

In addition, we have coordinated the following changes to CME and CBOT stock index futures’ daily price limits methodology with the rule changes in the underlying markets:

  • Implementation of daily price limits on stock index futures contracts (switching from the quarterly price limits currently used)
  • Application of daily price limits each day starting at 5:00 p.m. CT.
  • Reference price for daily price limits for the next trade date based on the 3:00 p.m. CT futures price:
    • Width of the equity index futures price limit band is based on the underlying cash equity index closing value.
    • Daily stock index futures price limits are published on the CME Group website prior to the CME Globex open at 5:00 p.m. CT.

For more information, visit cmegroup.com/eqpricelimits

 

Continue reading “Futures Trading Levels and Economic Reports for April 11, 2013”

Futures Trading Levels and Economic Reports for April 10, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Wednesday April 10, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

This is the third time that SP futures touched against that 1568-1569 level. We backed down a few points before the close but I think it is important to see how we open tomorrow morning. If we can climb above 1570 then in my opinion we have good chances of visiting 1587 in the next few days or so. On the flip side, failure to do so for the third time can result in a much more meaningful sell off.

 

Daily chart of the mini SP 500 futures for your review below:

 

daily mini sp 500 chart

 

Continue reading “Futures Trading Levels and Economic Reports for April 10, 2013”

Futures Trading Levels and Economic Reports for April 9, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday April 9, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I am getting excellent feedback on the daily email, information and trading levels and I appreciate it!

 

I would like to ask you for a small favor in return….
If you are a member on Elite trader and/ or use google plus –
Please take a moment to write a positive review on our services/ firm at:
http://www.elitetrader.com/br/?action=view&R_FirmID=229
https://plus.google.com/104474120507024800084/about

 

 

On a different note, earnings season is starting today and will play a role in the intraday moves/ overnight moves of stock index futures.

 

Trading Levels and Economic Reports for April 5, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Friday April 5, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Monthly unemployment report tomorrow or as we call it non farm payroll.

 

The report comes out at 7:30 AM central and is usually a market mover and increases volatility for the rest of the session.

 

 

Source Bureau of Labor Statistics (latest release)
Measures Percentage of the total work force that is unemployed and actively seeking employment during the previous month;
Usual Effect Actual < Forecast = Good for currency;
Frequency Released monthly, usually on the first Friday after the month ends;
Next Release May 3, 2013
Why Traders
Care		 Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions;
Also Called Jobless Rate;

 

Continue reading “Trading Levels and Economic Reports for April 5, 2013”

Trading Levels and Economic Reports for April 4, 2013

Posted on by Ilan

 

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday April 4, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I mentioned yesterday :So far most selling in stock index futures are met with volume buying at lower levels. I wish I had an idea of how long this would last….but I don’t. What can change the dynamics are the few employment reports we have this week. Starting with tomorrow ADP report, Thursday weekly report and non-farm payroll ( the big report) this

Friday.

It seems that this morning ADP report but actually more so ISM actually gave stock index a lower break for the first time in a while.

 

I am sharing with you daily chart of mini Russell for your review and possible support/ resistance levels.

 

mini russell daily chart

 

Futures Trading Levels and Reports for August 30, 2012

Posted on by Ilan

Jump to a section in this post:

1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Thursday August 30, 2012

 

Hello Traders,

One Way to Eliminate Fear and Greed While Day Trading

Disclaimer

The methods described in this article are for educational purposes only. Past results are not necessarily indicative of future results. The author and the publisher assume no responsibility for your trading results. Trading involves a high degree of risk. No recommendation is being made to buy any stock, commodity, option or other financial instrument. Consult your financial advisor before starting any investment system.

 

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: Philosophy

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?”

In the first case scenario, when market decided to be nice to us and moved in our direction, I like to exit half of my positions relatively quickly. In the case of the mini SP, this would be around 7 ticks profit.

What I’ve found is that this will allow me to manage the rest of the trade in a much more relaxed manner. Since I’ve already locked profits in, now I can look for a proper stop close to my break-even level. I can analyze my next target more realistically and, if the market provides room for additional gains, be there to participate.

Continue reading “Futures Trading Levels and Reports for August 30, 2012”

Thursday Morning Support and Resistance Numbers

Posted on by Ilan

If you would like these numbers before the market opens, make sure you SIGN UP with your email above.

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (September) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond Sep ’12 10-Year US Note Sep ’12
Resistance Level 3 ——————————————Resistance Level 2——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 1428.251424.75 

1417

 

1404.25

 

1401.5

 

1396

 2802.52792.5 

2786

 

2759

 

2725

 

2701

 1330813228 

13203

 

13099

 

13083

 

13014

 826.8819.5 

817.2

 

809.9

 

801.00

 

793.00

 1490714826 

14808

 

14715

 

14701

 

14622

 1340713314 

13326.5

 

13310

 

13303.5

 

13229.5

Continue reading “Thursday Morning Support and Resistance Numbers”

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.