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Futures Trading Levels & Economic Reports for July 16th 2010

Posted on July 15, 2010September 9, 2014 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

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Futures Trading Levels & Economic Reports for July 13th 2010

Posted on July 13, 2010September 9, 2014 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.

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Futures Trading Levels & Economic Reports for July 7th 2010

Posted on July 6, 2010September 9, 2014 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.

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Futures Trading Levels & Economic Reports for July 6th 2010

Posted on July 2, 2010September 9, 2014 by Ilan

Wishing you a great 4th of July weekend! ( Our office is closed Monday )

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.