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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for November 3

Swing Trader’s Insight Futures Watch List for November 3

November 3, 2014 by Scott Hoffman

On Wednesday I’m giving a webinar on futures swing trading using the Swing Trader’s Insight methodology; register to attend HERE.

Weak October PMI data from China last night blunted the stock rally, although US stocks are loathe to trade lower. European PMI reports were mostly underwhelming as well. In the US we get the Markit manufacturing PMI at 8:45 AM CT; it is forecast to be down 1.4 to 56.1. At 9 AM is the October ISM manufacturing index; it is forecast to be down 0.6 to 56.0.  Later this week we get the lead up to the October NFP on Friday and ECB and BoE meetings on Thursday.

Dec. eMini S&P Futures:  It’s a Taylor Trading Technique Sell Short day; reference prices are 2016.75 and 2014.50. The ISM report at 9 AM has the potential for a breakout move.

Dec. eMini NASDAQ Futures:  Another TTT Sell Short day. 4163.50 is the SS day reference price; the 4141 area could be a pivot point for a bigger selloff.

Dec. T Bonds:  TTT Sell day, clearing trend line resistance at 141-21 could boost a rally.

Dec. Euro:  Holding above the 3 Oct. low of 1.2506 helps a rally; think about a Sell Short day on a further rally.

Dec. Gold:  TTT Sell day; look to short it on further rally.

Dec. Silver:  Another TTT Sell day. There’s Fibonacci retracement resistance at 16.13; on a rally we should be thinking about a Sell Short day for tomorrow.

March Sugar:  It’s a “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated; 16.00 is the reference price.

Dec. Crude Oil:  TTT Sell day; 81.27 is the Sell day target.

Dec. Natural Gas:  Treat today as a breakout setup with the overnight high (4.065) and low (4.007) as reference prices.

Jan. Soybeans:  I would consider shorting a break below the overnight low of 1036-6; it’s a TTT Sell day but I think it could be ready for a selloff.

Dec. Soymeal:  Breakout setup (NR4); use the overnight high (389.30) and low (382.20) as reference prices.

Dec. Bean Oil:  It’s an “exit breakout buys” day so a TTT Sell Short day is anticipated. There’s Fib support at the overnight low of 34.40; a break should be a buying opportunity. On a selloff watch double top support at 33.80.

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.

Register Now

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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