{"id":17655,"date":"2022-04-07T12:30:14","date_gmt":"2022-04-07T20:30:14","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=17655"},"modified":"2022-04-07T12:30:14","modified_gmt":"2022-04-07T20:30:14","slug":"sp500-buy-program-support-and-resistance-levels-4-08-2022","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/sp500-buy-program-support-and-resistance-levels-4-08-2022\/","title":{"rendered":"SP500 &#8220;Buy Program&#8221;  &#038; Support and Resistance Levels 4.08.2022"},"content":{"rendered":"<div align=\"center\">\n<div align=\"justify\">\n<div><\/div>\n<div>\n<div align=\"justify\">\n<div><\/div>\n<div style=\"text-align: center;\" align=\"justify\">\n<div style=\"text-align: left;\" align=\"center\">Get Real Time updates and\u00a0more on our private FB group!<\/div>\n<div style=\"text-align: left;\" align=\"center\"><a href=\"http:\/\/r20.rs6.net\/tn.jsp?f=001KRg6On04gjknOfysn89cEhkyXgAxXigZc1_AdekBblRz4Cwp2yofkpGH8rpms9Q30D0wjhFS1q8yG11pQf1KRy2bpIyH4uwMgzWcI-wb74TdqgA-DQitbpTeoWmib8qwdH8ve86kM_6EWihst10TitotvFRrtw2C0HgnNGJLkXUXb6ec7AaQGNxU6EuLQxHI&amp;c=&amp;ch=\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"text-align: center;\">\n<div align=\"center\">\n<div align=\"justify\">\n<div align=\"justify\">\n<div><\/div>\n<div style=\"text-align: center;\" align=\"justify\">\n<div align=\"center\">\n<div align=\"center\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"text-align: left;\">\n<div align=\"center\"><\/div>\n<\/div>\n<div style=\"text-align: left;\" align=\"center\"><\/div>\n<div>\n<div>Updates:<\/div>\n<div><\/div>\n<ul>\n<li>CME has launched\u00a0Aluminum futures!\u00a0<a href=\"https:\/\/www.cmegroup.com\/trading\/metals\/aluminum-futures.html?utm_source=pardot&amp;utm_medium=email&amp;utm_campaign=april_off_to_great_start&amp;utm_kxconfid=vpwpdpbbo#video\" target=\"_blank\" rel=\"noopener noreferrer\">more info available here<\/a>,\u00a0<a href=\"https:\/\/www.cannontrading.com\/company\/contact\" target=\"_blank\" rel=\"noopener noreferrer\">contact us<\/a>\u00a0if you would like to trade Aluminum futures.<\/li>\n<li>Would you like to get access to\u00a0daily research? Access info on what is moving the markets both technically and fundamentally?\u00a0<a href=\"https:\/\/www.cannontrading.com\/tools\/daily-futures-market-research\" target=\"_blank\" rel=\"noopener noreferrer\">FREE TRIAL<\/a><\/li>\n<li>Would you like a\u00a0FREE CONSULTATION? Set up a time to\u00a0<a href=\"https:\/\/www.cannontrading.com\/services\/trading-consultation\" target=\"_blank\" rel=\"noopener noreferrer\">talk with an experienced broker<\/a>\u00a0on variety of topics such as trading methods, indicators, concepts, questions on options\/spreads\/platforms and much more!<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<div>\n<div><strong>Stock Index futures<\/strong> were significantly lower today but bounced sharply off support levels, news sources cited &#8220;buy program&#8221; &#8211; I mentioned this to a client who asked me what the hell does it mean&#8230;.<\/div>\n<div><\/div>\n<div>My speculation is that large institution had a &#8220;resting order&#8221; to buy at that levels, perhaps <a href=\"https:\/\/www.cannontrading.com\/tools\/order-types\">GTC order<\/a> , perhaps new order but that was able to absorb all selling pressure and then price went higher, triggered more short covering, fueled intraday buying and helped an impressive intraday reversal.<\/div>\n<div><\/div>\n<div>Two big questions I have:<\/div>\n<div>Am I correct?<\/div>\n<div>What&#8217;s next?<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/cannontrading.com\/community\/newsletter\/2022\/E-Mini_S%26P_500_Equalized_Active_Daily_Continuation.png\" target=\"_blank\" rel=\"noopener noreferrer\">My daily chart\u00a0<\/a>with some possible levels for what&#8217;s next below.<\/div>\n<div>My speculation is as long as we can hold today&#8217;s lows, higher prices are path of least resistance.<\/div>\n<div>Break below and it is a different ball game&#8230;..<\/div>\n<div><\/div>\n<div>I asked my colleague,\u00a0John Thorpe for his feedback:<\/div>\n<div><\/div>\n<div>Why the buy programs?\u00a0an over simplification is where we have been.. take a look at that low we got the bounce from.. and April 6th back in collegiate statistics 101 one of the first things we learn are the differences and applications of the Mean, the median and the mode&#8230; using the 4450 area this number satisfies the definition of the median and the mode if we begin taking our data points from the beginning of Q1 2021 for at least the last 6 months 4450 is the midpoint. it&#8217;s not that hard see why that is a critical area for the current market and potentially why, when the market got down to that level, Buy programs engaged. this is not to say this is a Fed put. what it does align with are the similarities between where the market was back on august , 31st 2021 and on the open 2 11 22. remember when the <a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/indices\/E-mini-SP-500-Futures\">ES tested 4200<\/a> six times and successfully rallied? a close greater than 4500.00 is the goal and could be the springboard to a significantly higher move and, it may be possible there is a seasonal component too. all markets like to test and retest areas where they have been before. this is no different.<\/div>\n<div><\/div>\n<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/f990e0a1-c36d-47bf-a237-0846be6aaf1b.png\" alt=\"Emini ES daily Chart\" width=\"1200\" height=\"736\" title=\"\"><\/div>\n<div style=\"text-align: center;\"><a href=\"https:\/\/www.cannontrading.com\/services\/sierra-teton\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/7933c6fd-26c7-4636-8b0e-2597986af67c.png\" alt=\"Sierra Charts, Teton Order Routing \" width=\"1023\" height=\"281\" title=\"\"><\/a><\/div>\n<div style=\"text-align: center;\">\n<div>\n<div style=\"text-align: left;\"><\/div>\n<div style=\"text-align: left;\">Contact us for a\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001ErfEXLC8pZFdOZXHPHSf9hjWzzYAwuj4g5EXGYC25ufTb0nlTqGe1Dy_b2ZbVT7d3kCr68ZYRSeba0tgs1MNRyWtahcz296XoRxT6FHOy2fDq3WFZD9Jn1u4ioNb5tVJ873WRXM0U-frAJGGXgKBDvrE0bAnYg3BybEfstRaDtBazke38nxdOg==&amp;c=7whAYj_TbTwAUuHtmk8sSXieaoQYS8IbUtZtiEk1IXlDqsBTPdseKQ==&amp;ch=p4XsRrRJvdC_n1g2dp1vepYc5FfOsInuZefxGhFHNiuuAnk2db-cVw==\" target=\"_blank\" rel=\"noopener noreferrer\">demo<\/a>\u00a0and\/ or\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001ErfEXLC8pZFdOZXHPHSf9hjWzzYAwuj4g5EXGYC25ufTb0nlTqGe1B9DnAtmQZDPTWQQseqJ6klSGRDF5DfDoblPjQjwBItYSjlsBuvEoM_MyInKESoqzJEffek-frGm8Arjvehdn9IZTpEN2ZFJ-ArALdoGv3d7iuq4LMElDQLML2kIuTJCRQ==&amp;c=7whAYj_TbTwAUuHtmk8sSXieaoQYS8IbUtZtiEk1IXlDqsBTPdseKQ==&amp;ch=p4XsRrRJvdC_n1g2dp1vepYc5FfOsInuZefxGhFHNiuuAnk2db-cVw==\" target=\"_blank\" rel=\"noopener noreferrer\">more information here!<\/a><\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: left;\">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<h3><strong>Futures Trading Levels<\/strong><\/h3>\n<p>04-08-2022<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/7f54cc96-dc0c-4bf1-9b01-b1eccca11a02.png\" alt=\"Futures Support and Resistance Levels 4.08.2022\" width=\"618\" height=\"745\" title=\"\"><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: left;\" align=\"center\">Improve Your Trading Skills<\/h2>\n<div style=\"text-align: left;\" align=\"center\">Get access to proprietary indicators and trading methods,\u00a0<a href=\"https:\/\/www.cannontrading.com\/services\/traders-profile\" target=\"_blank\" rel=\"noopener noreferrer\">consult with an experienced broker<\/a><\/div>\n<div style=\"text-align: left;\" align=\"center\">\u00a01-800-454-9572\u00a0Explore trading methods.\u00a0<a href=\"https:\/\/www.cannontrading.com\/tools\/intraday-futures-trading-signals\" target=\"_blank\" rel=\"noopener noreferrer\">Register Here<\/a><\/div>\n<h3><a href=\"http:\/\/www.forexfactory.com\/\" target=\"_blank\" rel=\"noopener\"><br \/>\n<\/a><strong>Economic Reports, Source:\u00a0<\/strong><\/h3>\n<p><a href=\"http:\/\/Forexfactory.com\" target=\"_blank\" rel=\"noopener\">Forexfactory.com<\/a><\/p>\n<div class=\"pagearrange__layout-row full\" data-row=\"1\">\n<div class=\"pagearrange__layout-column pagearrange__layout-column--full full\" data-column=\"0\">\n<div class=\"pagearrange__layout-cell\" data-cell=\"0\" data-compid=\"Calendar_Copy1\">\n<div class=\"flexShell\">\n<div id=\"flexBox_flex_calendar_mainCalCopy1\" class=\"flexBox calendar\" data-more=\"0\" data-initcallback=\"calendar\" data-updatecallback=\"calendar\" data-visiblejs=\"[]\" data-disablejs=\"[]\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/b0d27aea-a0e8-40bd-8441-b41504680059.png\" alt=\"Forex Factory 4.08.2022\" width=\"578\" height=\"208\" title=\"\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: left;\">This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0<a href=\"https:\/\/www.cannontrading.com\/company\/about\">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":"<p>Get Real Time updates and\u00a0more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ Updates: CME has launched\u00a0Aluminum futures!\u00a0more info available here,\u00a0contact us\u00a0if you would like to trade Aluminum futures. Would you like to get access to\u00a0daily research? Access info on what is moving the markets both technically and fundamentally?\u00a0FREE TRIAL Would you like a\u00a0FREE CONSULTATION? Set up [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,235,344],"tags":[],"class_list":["post-17655","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-index-futures","category-indices"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17655","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=17655"}],"version-history":[{"count":2,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17655\/revisions"}],"predecessor-version":[{"id":17657,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/17655\/revisions\/17657"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=17655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=17655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=17655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}