A Word About Micros & Levels for May 9th 2019 - 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.

A Word About Micros & Levels for May 9th 2019


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Dear Traders,

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Nice start for the MICROS so far, at least from volume perspective. the question is how much of the volume is from market makers and how much from retail clients?
MICROS ES ( MES) traded approx. 250,000 contracts today!
MICRO NQ ( MNQ) traded approx. 175,000 contracts today!
MICRO YM ( MYM) traded approx. 60,000 contracts today!
MICRO RTY, mini Russell 2000 ( M2K) traded approx. 16,000 contracts today!
Here are some thoughts ( my personal thoughts….):
  • The MICROS are a good tool for perhaps hedging a trade you are in. Example, you are short ES, market going against you but you dont want to get stopped or get out, you buy x number of contracts to hedge x% of your current position.
  • MICROS may be a good start for newcomers and smaller accounts.
  • MICROS can be a nice transition from trading a demo account and before moving on to the standard size.
  • MICROS may provide more flexibility for traders who like to average up and down…..
  • Last but not least, the MICROS could be a good way to initiate longer term positions with lower leverage.
Either way, the MICROS have a few good things to offer as well as some pointers to understand, read more…..

Good Trading

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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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