Markets remain tense over the Ukrainian situation. The Malaysian airline downing and new sanctions on Russia are a major factor although there is also concern over the Israeli / Gaza situation. Crude oil didn’t get as much support as might be expected because of an extension of the Iranian nuclear talks, which allows it to continue to export crude. There is no US data due today but we’re in the biggest week of earnings season.

Sept. eMini S&P Futures:  Today is a Taylor Trading Technique Sell day. That, combined with Friday’s WR7 makes a “Z” day likely today- buy breaks, sell rallies in a mean reversion trade.

Sept eMini Russell Futures:  Another TTT Sell day, watch the 10 July low of 1140.50 as a pivot point for the downside.

Sept. Yen:  TTT Buy day. There’s Fibonacci retracement support at Friday’s low / Buy day reference price of 9862; a rally above the 9900 double top area could lead to an upside breakout.

Sept. Euro:  It keeps returning to the 1.3530 area; will it continue to do so?  I suspect we’ll see that again today, although with the daily trend down I‘d be tempted to try to short a downside breakout.

Sept Canadian Dollar:  It’s an “exit breakout buys day so a TTT Sell Short day is anticipated. There’s Fib retracement and trend line support at today’s session low of 9288; I’d short a break below that level.

Sept. Silver:  TTT Buy day; I’d watch the 2100 level as a pivot point for a rally this morning.

Dec. Cotton:  Breakout setup (ID, NR7) – will it move after 2 NR, doji days?

Sept. Crude Oil:  TTT Buy day. Friday’s low of 101.66 is the reference price (there was a low violation buy overnight); clearing the 20 day EMA at 102.33 could help the rally.

Nov Soybeans:  Friday was an NR7 day so last night’s downside breakout move shouldn’t have been a surprise. For the day session I would use 1078 as the first upside breakout reference price; on the downside watch the overnight low of 1071-0 and then last week’s low of 1065-0.

Sept. Wheat:  It’s a TTT Buy day although Friday was an inside day. I would buy on a rally above the overnight high of 531-2; on the downside watch last week’s low of 524-2.

This is a sample of the analysis from my Swing Trader’s Insight advisory service. For information on STI, and to sign up for a free two week trial, visit here.

The information contained here includes information from sources believed to be reliable and accurate, but no guarantee is made as to accuracy, nor do they purport to be complete. Opinions are subject to change without notice.

THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.

STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A ‘’LIMIT MOVE’’, IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.

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Yesterday I wrote about the Taylor Trading Technique Sell Short day in the eMini S&P Futures- how the TTT told us to anticipate a selloff and how we could short the market when we had confirmation of the selloff. (You can read that post HERE.) The TTT posits that markets move in a repetitive action / reaction manner so the odds favored a rally today, so in last night’s Swing Trader’s Insight update I listed the eMini S&P futures as a TTT Buy day for Friday.

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