{"id":15312,"date":"2019-12-05T13:22:27","date_gmt":"2019-12-05T21:22:27","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=15312"},"modified":"2019-12-12T12:46:43","modified_gmt":"2019-12-12T20:46:43","slug":"es-chart-review-futures-levels-12-06-2019","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/es-chart-review-futures-levels-12-06-2019\/","title":{"rendered":"ES Chart for Review & Futures Levels 12.06.2019"},"content":{"rendered":"

_________________________________________________<\/span><\/b><\/em><\/p>\n

Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0<\/a>for 2016!!\u00a0\u00a0<\/span><\/b><\/em><\/p>\n

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Dear Traders,<\/p>\n

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WTF Just Happened??<\/strong><\/div>\n
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At approximately 11:57 A.M., Pacific Time \/ 2:57 P.M. Eastern Time, I overheard one of my colleagues yell, “WTF just happened to the mini S&P?”<\/div>\n
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As I looked at my screen I saw the market taking a fast nose dive \u2013an almost 8-point slide in less than 30 seconds \u2013 only to bounce right back to the price where it was originally trading.<\/div>\n
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So I decided to try and decipher the mystery.<\/div>\n
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You can see a 10-second chart below showing when the sell-off occurred.\u00a0Here are my guesses:<\/div>\n
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1.\u00a0A very large ALGO trade hit the market when the bid levels were relatively thin.\u00a0The algo was using hourly charts and the order was entered right before the prior 1-hour bar was completed.\u00a0My guess is that the trade was 10,000 lots or more.\u00a0It took the market down 8 full points.<\/div>\n
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2.\u00a0Someone entered a FAT FINGER TRADE and may very well have lost their job because they entered a 10,000-lot order instead of a 1,000- or even a 100-lot order.<\/div>\n
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3.\u00a0The market is just trading much higher than it used to 2 or 3 years ago and the volume is not what it used to be during volatile times.\u00a0Instead of seeing 500 orders at the nearby bid and offer, there were only 100 orders bid\/offered on each side of the market.\u00a0As a result, it took the market a few points to absorb large orders.\u00a0If done by mistake or not, erratic moves like that can happen.\u00a0It\u2019s possible large investors\/institutions were involved.<\/div>\n
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PS: If you want access to the buy signal that appeared right at the end of the sell off and marked with a blue square….visit the FREE trial page here.<\/a><\/div>\n
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Click on image below to enlarge<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Good Trading<\/strong><\/h3>\n

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 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.<\/p>\n

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Futures Trading Levels<\/strong><\/h3>\n

12-06-2019<\/p>\n

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\"Futures<\/a><\/p>\n


\n<\/a>Economic Reports, source:\u00a0<\/strong><\/h3>\n

bettertrader.co<\/a><\/p>\n

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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<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

_________________________________________________ Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0for 2016!!\u00a0\u00a0 _________________________________________________ Dear Traders, Like us on FaceBook! www.facebook.com\/CannonTrading Get Real Time updates and\u00a0market alerts on Twitter! WTF Just Happened?? At approximately 11:57 A.M., Pacific Time \/ 2:57 P.M. Eastern Time, I overheard one of my colleagues yell, “WTF just happened to the mini S&P?” As […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-15312","post","type-post","status-publish","format-standard","hentry","category-future-trading-news"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/15312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=15312"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/15312\/revisions"}],"predecessor-version":[{"id":15313,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/15312\/revisions\/15313"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=15312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=15312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=15312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}