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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for September 24

Swing Trader’s Insight Futures Watch List for September 24

September 24, 2014 by Scott Hoffman

US stocks are recovering today in spite of US Dollar strength. The Euro is getting pounded as the German IFO survey showed a bigger than expected drop in investor sentiment in September. In the US we get the August new home sales report at 9 AM CT; it is expected to be +4.4% at 430K, which would reverse a decline in July. At 9:30 AM is the weekly EIA petroleum inventory report; crude oil stocks are forecast to have risen by 300K barrels last week.

Dec. eMini S&P Futures:  It’s on the Buy day of the Taylor Trading Technique cycle. The standard TTT reference price is 1968.25; it would be a big drop to get back there now. I might watch for a test of the overnight low at 1973.00 for a setup to get long, and 1978.00 has been resistance.

Dec. eMini NASDAQ Futures:  Breakout setup (NR7, doji). Chart based breakout levels are 4061.00 and 4027.50. Trade or Fade (my breakout trade advisory) has breakout levels at 4053.20 and 4010.30.

Dec. T Bond Futures:  It’s an “exit breakout buys” day so a TTT Sell Short day is anticipated; Wednesday’s high of 137-18 is the reference price (137-18 is also the level of the 50 day SMA).

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.

Dec. Swiss Franc:  Sell Short day; watch last week’s low of 1.0610 as a pivot point for the selloff.

Dec. British Pound:  Yet another “exit b.o. buys” / TTT Sell Short day setup; multiple Fibonacci retracement levels around 1.6335 make it a pivot point on the downside.

Dec. Gold: Sell Short day; from here I would watch the $1221 area as resistance.

Dec. Silver:  Breakout setup. Yesterday’s low of 1761 is the reference price for a downside breakout; Monday’s low of 1732 is the first target.

March Sugar:  TTT Sell day; 16.07 is the Sell day objective. Look to short it on a rally.

Nov. Crude Oil:  It’s a TTT Sell day; 92.09 is the Sell day objective. Be alert for volatility around the 9:30 inventory report.

Nov. Natural Gas:   A “cover b.o. sales” day means we should anticipate a Taylor Trading Technique Buy day today- 3.865 is the Buy day reference price with 3.902 the first rally objective.

Dec. Live Cattle:  Taylor Trading Technique Sell Short day; I’m still watching the double bottom at 157.45.

Nov. Soybeans:  Breakout setup. I’d like to see a breakout rally to be able to short it at a higher price.

Dec. Wheat:  Another breakout setup. For the day session watch the overnight high of 481-6 as a reference price for the upside.

Dec. Soymeal:  Breakout setup, watch the overnight low of 307.20 as the reference price for a downside breakout.

Dec. Bean Oil:  Taylor Trading Technique Sell day; holding above the overnight high of 32.71 could encourage further rally.

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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