Weekly Newsletter 1102: Identifying Trend Days (Bullish/Bearish), Futures Trading Levels for the Week Ahead - Support & Resistance Levels

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.

Weekly Newsletter 1102: Identifying Trend Days (Bullish/Bearish), Futures Trading Levels for the Week Ahead

Cannon Futures Weekly Newsletter Issue # 1102

Dear Traders,

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Trading 102: Identifying Trend Days (Bullish/Bearish)

This Article Was Contributed By 3rd Party. The Logic Behind The Article Is Valuable In Our Opinion And Provides You, The Trader, Another Possible Trading Tool To Explore.
By: David Dube Of Polaris Trading Group
Trend days often begin as strong upside (gap) breakouts that never get filled. Typically volatility and volume expand suggesting the move has significant participation from large (Other Time Frame) traders. Once the move is initiated price continues to trade above the market’s Volume Weighted Average Price (VWAP) and itself trends in direction of breakout. Since VWAP is trending this implies that traders are accepting “expanding value”.
Momentum and breadth Indicators will be skewed…Downside breakouts will be associated with high Cumulative NYSE Tick reading maintaining below zero-line with shallow pullbacks during the session. This tells us that, on balance, more stocks are trading on downticks versus upticks: (bearish case…sellers are in control). Additional breadth indicators to consider are Advance/Decline Ratio and Cumulative Volume Delta.
Good 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 when it comes to Futures Trading.

Futures Trading Levels


Futures Support and Resistance Levels 6.20.2022

Weekly Levels

Weekly Futures Support Resistance Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:


Date Reports/Expiration Notice Dates
MRCI Reports 6.20-6.24

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 herein 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 judgment in trading

Posted in: Future Trading News   | Weekly Newsletter  

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