In this morning’s Swing Trader’s Insight watch list (read it HERE) I noted that the December live cattle futures were on a Buy day according to the Taylor Trading Technique. Cattle are is a strong uptrend; finding trend entries in a strongly trending market can be a challenge. Before Monday, 163.87 had been the contract… Read More.
Dec. eMini S&P Futures: It has a breakout setup (NR7, doji). I’ll look for a potential breakout move after the 8:30 open. For breakout reference prices we can watch 1967.00 (overnight high) on the upside; 1957.75 (overnight low) and 1955.50 (Monday low) on the downside.
Dec. eMini S&P Futures: By the Taylor Trading Technique I have today as a Sell Short day; 1977.00 is the reference price. Make sure there’s downside momentum before shorting it.
Dec. eMini S&P Futures: It’s a Taylor Trading Technique Sell day; the daily down trend and breakout setups in the other stock indices add to the downside pressure. Watch the 1968 area as an upside pivot point this morning and Friday’s low of 1956.50 down.
Dec. T Bond Futures: It’s an “exit breakout buys” day so a Taylor Trading Technique Sell Short day can be anticipated; 138-00 is the SS day reference price. 137-30 is a significant Fibonacci retracement level and an indication for longer term trend.
Dec. T Bond Futures: Taylor Trading Technique Buy day, so we should look for a rally. Wednesday was an inside day- will a move above the Wednesday high of 137-18 start an upside breakout move? 137-30 would be the first rally objective. There’s a TTT buy day / breakout setup combination in the 10 year T Note futures as well.
The Taylor Trading Technique can still be effective for trading stock index futures like the eMini S&P futures; the key is adapting to the around the clock nature of electronic markets.
Dec. Euro: Another “exit b.o. buys” / Taylor Trading Technique Sell Short day setup; watch Monday’s low of 128.24 as a pivot point for the selloff.
Nov. Soybeans: It’s due for a TTT Buy day however we don’t want to go long until we see upside momentum. Maybe we’ll see a rally when the day session gets going- watch the overnight low at 941-0. Even though it looks “cheap” longer term, don’t use that as an excuse for trying to pick a bottom.
Dec. eMini S&P Futures: Thursday was a rally out of a doji; anticipate an “exit breakout buys” / Taylor Trading Technique Sell Short day today. Yesterday’s high of 2005.50 is the SS day reference price and you can also watch the overnight swing low at 2007.50 as a reference price. Downside levels to watch are 2004.50 (daily trend line) and 2002.75 (9/3 swing high).