{"id":1855,"date":"2011-08-17T20:43:27","date_gmt":"2011-08-17T20:43:27","guid":{"rendered":"http:\/\/www.cannontrading.com\/daily\/?p=1855"},"modified":"2014-09-11T02:24:53","modified_gmt":"2014-09-11T10:24:53","slug":"futures-trading-levels-next-leg-up-or-down","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/futures-trading-levels-next-leg-up-or-down\/","title":{"rendered":"Futures Trading Levels, Next Leg: Up or Down?"},"content":{"rendered":"<p>Stock indices are consolidating for the last 3 sessions, trading between 1176 and 1207 on the mini SP 500.<\/p>\n<p>The fact that the consolidation is taking place after a big move down and on lesser volume suggests to me that we are about to see another big move. My guess is that if we break below 1180 on the way down, the next big leg is lower and if we break above 1212 then the next big leg will be towards the 1280 region. Only time will tell if my speculation is correct. In the mean time, know the time frame you are trading, the risk you are willing to take, calculate probabilities and risk \/ reward and then once you have planned your trade, trade your plan. And yes, I know, it is much easier said than done&#8230;..<\/p>\n<p>Daily Mini SP500 chart for your review below with the levels I mentioned above<\/p>\n<h2 class=\"blue\">Daily Futures chart of the Mini S&amp;P 500 from August 17th, 2011<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"Daily Futures chart of the Mini S&amp;P 500\" alt=\"Daily Futures chart of the Mini S&amp;P 500 from August 17th, 2011\" src=\"https:\/\/www.cannontrading.com\/daily\/wp-content\/uploads\/SP-20110817.png\" width=\"472\" height=\"519\" \/><\/p>\n<p>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.<!--more--><\/p>\n<p>GOOD TRADING!<\/p>\n<h2 class=\"blue\">TRADING LEVELS!<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"Trading Levels for August 18th, 2011\" alt=\"Commodity Futures trading levels for August 18th, 2011\" src=\"https:\/\/www.cannontrading.com\/daily\/wp-content\/uploads\/futures-20110818.png\" width=\"470\" height=\"262\" \/><\/p>\n<h2 class=\"blue\">Economic Reports Thursday August 18th, 2011<\/h2>\n<p>Core CPI m\/m<br \/>\n8:30am USD<\/p>\n<p>Unemployment Claims<br \/>\n8:30am USD<\/p>\n<p>CPI m\/m<br \/>\n8:30am USD<\/p>\n<p>FOMC Member Dudley Speaks<br \/>\n8:35am USD<\/p>\n<p>Existing Home Sales<br \/>\n10:00am USD<\/p>\n<p>Philly Fed Manufacturing Index<br \/>\n10:00am USD<\/p>\n<p>CB Leading Index m\/m<br \/>\n10:00am USD<\/p>\n<p>Natural Gas Storage<br \/>\n10:30am USD<\/p>\n<p><em>Economics Report Source: <a href=\"http:\/\/www.forexfactory.com\/calendar.php\" target=\"_blank\" rel=\"noopener\">http:\/\/www.forexfactory.com\/calendar.php<\/a><\/em><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/www.cannontrading.com\/images\/divider-black-190.gif\" title=\"\"><\/p>\n<p>This is not a solicitation of any order to buy or sell, but a current market view provided by <a title=\"Cannon Trading Inc. \" href=\"https:\/\/www.cannontrading.com\/\">Cannon Trading Inc. <\/a>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!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock indices are consolidating for the last 3 sessions, trading between 1176 and 1207 on the mini SP 500. The fact that the consolidation is taking place after a big move down and on lesser volume suggests to me that we are about to see another big move. My guess is that if we break [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,61],"tags":[16,144],"class_list":["post-1855","post","type-post","status-publish","format-standard","hentry","category-futures-exchange","category-futures-trading-2","tag-futures-trading","tag-futures-trading-levels"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1855","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=1855"}],"version-history":[{"count":7,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1855\/revisions"}],"predecessor-version":[{"id":8061,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/1855\/revisions\/8061"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=1855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=1855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=1855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}