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Tag: S&P 500 Resistance and Support Levels

FOMC to Provide Futures Trading Market with Direction, September 21st, 2010

Posted on by Ilan

FOMC tomorrow around 2:15 Eastern time. Even before that we will start the day with some important housing numbers. 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 are 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 some sharp volatile moves right during and after the announcement. I am including 5 minutes chart from August 10th of this year, which was the last FOMC we had for your reference. Continue reading “FOMC to Provide Futures Trading Market with Direction, September 21st, 2010”

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”

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”

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.