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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for September 16

Swing Trader’s Insight Futures Watch List for September 16

September 16, 2014 by Scott Hoffman

There was weak economic news overnight. First, China reported that direct foreign investment showed an unexpected second month of decline in August. The German ZEW survey showed a large drop in German investor confidence in September. European stocks also are facing concern about economic growth; tighter sanctions against Russia add to the pain. In US news, August PPI showed that inflation isn’t a problem at the wholesale level. It’s day one of a two day FOMC meeting.

Dec. eMini S&P Futures:  Breakout setup (NR7, doji).  Chart based breakout levels are yesterday’s high of 1979.00 and low of 1968.00. Trade or Fade (my breakout trade advisory) has breakout levels at 1984.25 up and 1969.25 down.

Dec. eMini NASDAQ Futures:  It’s a Taylor Trading Technique Buy day; Monday’s low of 4010.50 is the Buy day reference price.

Dec. T Bonds:  Rallying out of a breakout setup. Monday’s high of 136-15 is the pivot point for the rally; clearing Fibonacci retracement resistance at 136-24 is key to extending the upside.

Dec. Yen:  Breakout setup; watch last Friday’s low of 9318 as the reference price for a downside breakout.

Dec. Euro:  Breakout setup; will it wait until Wednesday for the end of the FOMC meeting to move?  Or will it wait for this weekend’s vote in Scotland?

Dec. British Pound:  Breakout setup; watch the Fibonacci retracement level at 1.6151 as a pivot point for extending the selloff.

Dec. Canadian Dollar:  Taylor Trading Technique Sell day so more upside could be expected today, with Fib resistance at 9058. We should likely anticipate a Sell Short day for Wednesday.

Dec. Gold:  TTT Sell day. Fib and old low resistance from 1241.50 to 1242.50 stopped the rally; will the selloff begin early? Consider shorting it on a break below the 1235.00 area.

Dec. Coffee:  Breakout setup; watch last week’s low of 180.40 as the reference price on the downside.

Dec. Cotton:  It’s a “cover breakout sales” day; Monday’s low of 65.71 would be the reference price for a TTT Buy day reversal.

Oct. Crude Oil:  TTT Sell day; watch trend line resistance at 93.05. We should likely expect a Sell Short day for Wednesday (possibly a breakout setup if the range stays this tight).

Oct. Natural Gas:  Sell Short day; it continues to have trouble clearing the 50 day SMA. A break below the Fib level at 3.689 could lead to more downside.

Oct. Live Cattle:  Breakout setup (NR4, doji), I’d watch for a potential breakout trade in Oct. Feeder Cattle as well.

Nov. Soybeans:  It’s an “exit b.o. buys” day so a TTT Sell short day is anticipated. Last night’s rally stopped at resistance between 998-6 (Fib level) and 1000 (psychological resistance). There was a double bottom overnight at the session low of 987-2.

Dec. Bean Oil:  TTT Sell Short day; I bring it up because I’d like to see a break in order to get long.

Swing Trader's Insight Essential Reference Guide Cover

Essential Guide for Futures Swing Trading

In this guide, experienced trader and broker Scott Hoffman explains the trading methods he uses to analyze and trade the futures markets and to publish his trade advisory, Swing Trader’s Insight.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Swing Trader's Insight

About Scott Hoffman

Scott graduated from the University of Chicago in 1986 with a degree in Economics. After graduation, Scott worked on the floor of the Chicago Mercantile Exchange then moved upstairs, serving as the personal broker to a former chairman of the Chicago Board of Trade. There, he worked as a broker and margin manager, starting up the firm’s full service brokerage division.

Today, Scott serves as an educator and mentor for new traders, and as a trading partner and ally for experienced traders. The breadth and depth of Scott’s knowledge make him the “go to guy” for both retail and institutional traders.

Scott also publishes two futures advisories, Swing Trader’s Insight and Trade or Fade. He also writes the futures trading blog at www.futuresinsightblog.com. Scott has written articles for a number of futures publications and has done numerous futures trading seminars, including seminars for both the CBOT and CME.

Scott offers his customers the knowledge he has gained from his more than 25 years of experience in the futures business. Scott is accepting new clients at this time.

Scott lives in suburban Chicago with his wife and three children. In his free time he enjoys coaching his children’s sports and various other athletic activities.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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