Trading ALGOS Free Trial - Cannon Trading

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Trading ALGOS free trial 5.26.2016

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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 Thursday May 26, 2016

Hello Traders,

For 2016 I would like to wish all of you discipline and patience in your trading!

Voted #1 futures trading blog!  

Trading Algos

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.

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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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Futures Trading Levels 


Contract June 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2115.50 4544.17 18101 1151.90 95.93
Resistance 2 2104.00 4516.83 17985 1147.20 95.80
Resistance 1 2096.50 4497.67 17912 1143.50 95.58
Pivot 2085.00 4470.33 17796 1138.80 95.45
Support 1 2077.50 4451.17 17723 1135.10 95.24
Support 2 2066.00 4423.83 17607 1130.40 95.11
Support 3 2058.50 4404.67 17534 1126.70 94.89
Contract June Gold July Silver July Crude Oil June Bonds June   Euro
Resistance 3 1243.1 16.60 51.17 165 1.1217
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
Pivot 1224.1 16.30 49.36 163 27/32 1.1157
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
Resistance 3 412.2 475.0 1116.67 431.57 2.24
Resistance 2 408.6 472.0 1102.33 419.93 2.21
Resistance 1 406.7 469.0 1093.92 413.57 2.19
Pivot 403.1 466.0 1079.58 401.93 2.16
Support 1 401.2 463.0 1071.2 395.6 2.1
Support 2 397.6 460.0 1056.83 383.93 2.10
Support 3 395.7 457.0 1048.42 377.57 2.08

Economic Reports


All times are Eastern time Zone (EST)

Date 4:00pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 26  4:00am EUR
Italian Retail Sales m/m
0.2% 0.3%
4:30am GBP
Second Estimate GDP q/q
0.4% 0.4%
Prelim Business Investment q/q
3.2% -2.0%
BBA Mortgage Approvals
44.8K 45.1K
Index of Services 3m/3m
0.6% 0.7%
6:10am USD
FOMC Member Bullard Speaks
8:30am USD
Core Durable Goods Orders m/m
0.3% -0.2%
Unemployment Claims
275K 278K
Durable Goods Orders m/m
0.3% 0.8%
10:00am USD
Pending Home Sales m/m
0.6% 1.4%
10:30am USD
Natural Gas Storage
67B 73B
12:00pm USD
FOMC Member Powell Speaks
7:05pm GBP
GfK Consumer Confidence
-4 -3
Day 2 ALL
G7 Meetings

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

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