Jump to a section in this post:
1. Educational Feature: Dealing With Losing Trades
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Thursday November 3, 2011
Continue reading “Dealing with Losing Trades | Support and Resistance Levels”
Jump to a section in this post:
1. Real Time Day Trading Signals Service
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Economic Reports for Thursday November 3, 2011
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1.) Live charts with trading signals
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| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1255.50 | 2362.00 | 12055 | 751.47 |
| Resistance Level 2 | 1246.95 | 2343.00 | 11936 | 741.63 |
| Resistance Level 1 | 1240.10 | 2330.00 | 11854 | 734.67 |
| Pivot Point | 1231.55 | 2311.00 | 11735 | 724.83 |
| Support Level 1 | 1224.70 | 2298.00 | 11653 | 717.87 |
| Support Level 2 | 1216.15 | 2279.00 | 11534 | 708.03 |
| Support Level3 | 1209.30 | 2266.00 | 11452 | 701.07 |
| Contract | Dec. Gold | Dec. Euro | Nov. Crude Oil | Dec. Bonds |
| Resistance Level 3 | 1773.2 | 1.4021 | 96.63 | 143 26/32 |
| Resistance Level 2 | 1759.4 | 1.3923 | 95.21 | 142 31/32 |
| Resistance Level 1 | 1748.1 | 1.3829 | 93.81 | 142 16/32 |
| Pivot Point | 1734.3 | 1.3731 | 92.39 | 141 21/32 |
| Support Level 1 | 1723.0 | 1.3637 | 90.99 | 141 6/32 |
| Support Level 2 | 1709.2 | 1.3539 | 89.57 | 140 11/32 |
| Support Level 3 | 1697.9 | 1.3445 | 88.17 | 139 28/32 |
Unemployment Claims
8:30am
Prelim Nonfarm PRoductivity q/q
8:30am
Prelim Unit Labor Costs q/q
8:30am
Minimum Bid Rate
8:45am
ECB Press Conference
9:30am
ISM Non-Manufacturing PMI
10:00am
Factory Orders m/m
10:00am
Natural Gas Storage
10:30am
Jump to a section in this post:
1. FOMC Statement Reminder
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Daily Mini S&P Chart
5. Economic Reports for Wednesday November 2, 2011
If the first day of November is an indication of what to come….then hang on as it may be a wild ride…..
FOMC tomorrow and before that more than a few economic 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. However, with tomorrow early morning reports and recent volatility, we may see wild action through out.
HEADS UP – NORMALLY FOMC COMES OUT AT 2:15 EASTERN TIME. TOMORROW IT WILL BE OUT 12:30 EASTERN TIME
One advice everyone can benefit from is, reduce your trading size in proportion to the increase in volatility. This should help your comfort level while in the day-trade.
| Contract (Dec. 2011) | SP500 (big & Mini) |
Nasdaq100 (big & Mini) |
Dow Jones (big & Mini) |
Mini Russell |
| Resistance Level 3 | 1246.83 | 2355.67 | 12175 | 765.27 |
| Resistance Level 2 | 1238.02 | 2336.33 | 12046 | 751.73 |
| Resistance Level 1 | 1227.63 | 2320.67 | 11828 | 733.27 |
| Pivot Point | 1218.82 | 2301.33 | 11699 | 719.73 |
| Support Level 1 | 1208.43 | 2285.67 | 11481 | 701.27 |
| Support Level 2 | 1199.62 | 2266.33 | 11352 | 687.73 |
| Support Level 3 | 1189.23 | 2250.67 | 11134 | 669.27 |
Continue reading “FOMC Statement November 2nd 2011 | Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini Mini S&P 500 Futures Chart
Wishing all of you a great trading month in November!
| Contract (Dec. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1280.67 | 2415.33 | 11945 | 775.97 |
| Resistance 2 | 1273.93 | 2400.67 | 11928 | 767.43 |
| Resistance 1 | 1259.47 | 2378.33 | 11913 | 751.07 |
| Pivot | 1252.73 | 2363.67 | 11896 | 742.53 |
| Support 1 | 1238.27 | 2341.33 | 11881 | 726.17 |
| Support 2 | 1231.53 | 2326.67 | 11864 | 717.63 |
| Support 3 | 1217.07 | 2304.33 | 11849 | 701.27 |
In this post:
1. Market Commentary
2. Support and Resistance Levels
The market has exhausted me and I feel some what “drained” by the events that’s taken place in the market, so initially I wasn’t going to write anything other than wish you good trading but then decided to write a few words on that topic exactly….
Trading is not something you can do at 50% or 70%…You must be 100% focused, 100% alert, 100% NOT distracted etc.
Too many times, traders will try to day trade while doing other things, being distracted, maybe not 100% focused in result of markets punishing them.
So as hard as it may be and I know it is, if you know that on a certain day or time, you will be distracted by other things or your attention will be needed some where else or maybe you just don’t feel like yourself and feeling more tired than usual…THAN what separates “the man from the boys” is the ability to say” Today I am NOT going to trade” understanding that no trade is better than a bad trade is a big part of capital preservation which is a key for survival and hopefully success to follow. Continue reading “Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases
I have been talking about the gaps and looking at the pit session SP500 which is the big SP ( each point = $250 versus $50 each point on the mini SP)
Another importance of the big SP or the PIT session, is that it tracks the hours of the cash SP500 index which is the UNDERLYING ASSET the SP and mini SP futures trade on.
Yesterday I wrote the following:
If market has more volume on the buy side, the next target is 1185, on the other hand if volume dries out up in these levels, I will be watching price action around 1149 and 1129 before deciding which way offers better risk/ reward.
Looks like overnight moves overseas brought in more volume on the buy side and we closed one gap and even went higher…..but now we have a gap from today’s session at 1159…..
Hourly chart of SP 500 ( pit session ) for your review below: Continue reading “The Importance of Underlying Assets in Futures Trading | Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily S&P 500 Futures Chart
4. Economic Reports
5. Earnings Releases
We closed the first gap on the pit session/ BIG SP as you can see below.
If market has more volume on the buy side, the next target is 1185, on the other hand if volume dries out up in these levels, I will be watching price action around 1149 and 1129 before deciding which way offers better risk/ reward.
At this point, I am neutral and will wait for market to give me some clues before deciding which way to attack.
Daily SP 500 chart for your review below: Continue reading “Keeping an Eye on Market Volatility in the Pit S&P | Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. December Mini S&P 500 Continuous Futures chart
4. Economic Reports
FRONT MONTH FOR EQUITIES AND BONDS IS DECEMBER
SYMBOL FOR DECEMBER IS Z
When looking at the pit SP 500 ( or what some call the “big SP” as each point is $250 or one big SP = 5 emini sp….) what we see is plenty of GAPS.
These GAPS are a result of overnight moves ( the PIT SP follows the cash stock index of SP500, which is the underlying asset for the future contracts. It is one of the reasons that GAPS on the SP are watched by certain traders and there is a saying ” all GAPS get filled” and if I may add, the question is really when….
Below is an SP500, pit session, hourly chart for your review. I marked the few gaps we had recently with circles. The diamonds that appear are my condition/ ALGO that I have programmed and in this case, the red diamond alerts me for a potential sell for the night session/ early trading tomorrow. Continue reading “Gaps in the Underlying Asset for the Mini S&P 500 | Support and Resistance Levels”
In this post:
1. Market Commentary
2. Support and Resistance Levels
3. December Mini S&P 500 Continuous Futures chart
4. Economic Reports
5. Highlighted Earnings Releases
FRONT MONTH FOR EQUITIES AND BONDS IS DECEMBER
SYMBOL FOR DECEMBER IS Z
On a different note:
On Friday, September 9, 2011, CME Group will observe the tenth anniversary of the attacks on the World Trade Center. As a result, NYMEX/COMEX markets on CME Globex will observe voluntary moments of silence at: 07:46 CT/08:46 ET, 08:03 CT/09:03 ET, 08:59 CT/09:59 ET and 09:29 CT/10:29 ET. We request that all electronic market participants refrain from trading NYMEX and COMEX products on CME Globex and CME ClearPort during these moments of silence
December mini SP continuous chart for your review below: Continue reading “CME Group Moment of Silence During Futures Market Hours | Support and Resistance Levels”
In this post:
1. Support and Resistance Levels
2. Economic Reports
3. Highlighted Earnings Releases
| Contract (Sept. 2011) | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell |
| Resistance 3 | 1225.33 | 2301.00 | 11802 | 744.90 |
| Resistance 2 | 1211.92 | 2262.25 | 11609 | 726.70 |
| Resistance 1 | 1204.83 | 2242.25 | 11509 | 717.20 |
| Pivot | 1191.42 | 2203.50 | 11316 | 699.00 |
| Support 1 | 1184.33 | 2183.50 | 11216 | 689.50 |
| Support 2 | 1170.92 | 2144.75 | 11023 | 671.30 |
| Support 3 | 1163.83 | 2124.75 | 10923 | 661.80 |
| Contract | Dec. Gold | Sept. Euro | Oct. Crude Oil | Dec. Bonds |
| Resistance 3 | 1889.2 | 1.4328 | 94.26 | 141 9/32 |
| Resistance 2 | 1865.0 | 1.4239 | 92.00 | 140 26/32 |
| Resistance 1 | 1842.2 | 1.4170 | 90.67 | 140 4/32 |
| Pivot | 1818.0 | 1.4081 | 88.41 | 139 21/32 |
| Support 1 | 1795.2 | 1.4012 | 87.08 | 138 31/32 |
| Support 2 | 1771.0 | 1.3923 | 84.82 | 138 16/32 |
| Support 3 | 1748.2 | 1.3854 | 83.49 | 137 26/32 |
Trade Balance
8:30am USD
Unemployment Claims
8:30am USD
Natural Gas Storage
10:30am USD
Crude Oil Inventories
11:00am USD
Fed Chairman Bernanke Speaks
1:00pm USD
Consumer Credit m/m
3:00pm USD
President Obama Speaks
7:00pm USD
Economics Report Source: http://www.forexfactory.com/calendar.php
| SYMBOL | COMPANY | EVENT TITLE | EPS ESTIMATE | EPS ACTUAL | PREV. YEAR ACTUAL | DATE/TIME (ET) |
| A9I.I | Agi Therapeutics PLC | Interim 2011 Agi Therapeutics PLC Earnings Release | n/a | n/a | n/a | 7-Sep |
| CNU | Continucare Corp | Q4 2011 Continucare Corp Earnings Release | $ 0.11 | n/a | $ 0.09 | 7-Sep BMO |
| FCE.A | Forest City Enterprises Inc | Q2 2011 Forest City Enterprises Inc Earnings Release | $ 0.37 | n/a | $ 0.54 | 7-Sep AMC |
| HW.TO | Harry Winston Diamond Corp | Q2 2012 Harry Winston Diamond Corp Earnings Release | n/a | n/a | n/a | 7-Sep AMC |
| HITK | Hi-Tech Pharmacal Co Inc | Q1 2012 Hi Tech Pharmacal Co Inc Earnings Release | $ 0.84 | n/a | $ 0.67 | 7-Sep BMO |
| SEAC | SeaChange International Inc | Q2 2012 SeaChange International Inc Earnings Release | $ 0.16 | n/a | $ 0.11 | 7-Sep AMC |