Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 May 26, 2016
For 2016 I would like to wish all of you discipline and patience in your trading!
What are the trading algos?
Through my job as a broker I have spent 100’s of hours researching the markets in attempt to gain an “edge” and be able to assist my clients better. The results are a family of studies and trading conditions I programed and tested, that i feel comfortable using to analyze the markets. I use my ALGO’s in different ways in the trading program REN18 and I use them also when looking at the markets in different time frames.
Obviously there is more to trading than just studies. There is trade management, entry and exit techniques, fear and greed and much more….but I hope that you can evaluate the studies/ ALGOs and decide if it can be of help in your trading.
I currently have 3 main ALGOS I use in my managed accounts and offer for clients to use either with E-Futures, Sierra charts or CQG charts ( both CQG IC and CQG Q trader) – all charting packages offers free trial.
Diamonds: DIAMONDS are an algorithm I came up with as I was designing different trading systems. It is a proprietary algorithm that tries to measure exhaustion in selling or buying and possible chance of short term reversal. The ALGO calculates recent highs/lows, consecutive highs/lows, RSI, volatility and then the formula outputs; a number that either meet certain criteria or not. RED diamonds suggest possible short term top. Green or blue diamonds suggest possible short term bottoms. Like any other indicator, trading strategy, we simply don’t know what the future will bring, in our case the next few minutes, sometimes seconds…hence the use of the term “suggested”.
ILM: ILM produces arrows on the charts that signal potential change in direction/ momentum. The ILM is based on moving average, volatility system and momentum.
F50: The F50 tries to measure institutional activity that may lead to continued momentum within larger time frame. It looks for correlation with volatility systems and attempts to sense possible continuation of immediate trend.
I like to use my studies and ALGOS on either volume and range bar charts when it comes to short term trading and 15 minutes, hourly and daily charts when it comes to longer term day trading as well as swing trading.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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|Contract June 2016||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||June Gold||July Silver||July Crude Oil||June Bonds||June Euro|
|Resistance 2||1236.6||16.49||50.46||164 23/32||1.1195|
|Resistance 1||1230.6||16.41||50.07||164 4/32||1.1179|
|Support 1||1218.1||16.21||48.97||163 8/32||1.1140|
|Support 2||1211.6||16.10||48.26||162 31/32||1.1118|
|Support 3||1205.6||16.02||47.87||162 12/32||1.1102|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||June Nat Gas|
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