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Dec. eMini S&P Futures: Wednesday was an NR7 day so we should anticipate a breakout move- look to buy a rally above 1943.75 (Weds. high) or a break below 1920.25 (Weds. low). By the Taylor Trading Technique today is a Buy day; I might also look to buy a failed selloff.
We saw a nice rally recently from sub-3.00 and it was rejected at old 340.0 support levels…
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Dec. eMini S&P Futures: It’s a Taylor Trading Technique Sell Short day. There was a high violation sale overnight (Friday high was 1891.75). From here there is resistance at 1883.50 and double bottom support at 1870.
Dec. eMini S&P Futures: It’s a Taylor Trading Technique Sell day; Thursday’s inside day / doji pattern indicates there could be a good rally today. Watch 1869.75 (Thursday high) as a pivot point for extending the rally; resistance is the overnight double top at 1878.75.
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Dec. eMini S&P Futures: It’s a Taylor Trading technique Sell Short day so we should anticipate the market moving lower today. As Tuesday was an inside day, watch 1864.75 (Monday’s low) as downside pivot this morning, and then the 1850 area.
Just a few markets to touch on that we are not already trading as we finish off the back end of the week…
The Taylor Trading Technique says that markets tend to trend in one direction for two or three sessions before it reverses direction. However, when a market makes a move out of a breakout setup it often moves in the opposite direction in the following session. Knowing this can add an additional pattern to trade.
Dec. eMini S&P Futures: It’s a Taylor Trading Technique Sell day- look for a rally, and we should likely anticipate a Sell Short day for Wednesday. There’s trend line resistance at the overnight high of 1881.00; the Fibonacci retracement level at 1884.75 would be next.