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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for December 8

Swing Trader’s Insight Futures Watch List for December 8

December 8, 2014 by Scott Hoffman

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China’s trade balance rose to a record surplus in November as imports were weaker than expected (signal of a weak domestic economy) and exports were weaker as well (signal of weak global economy). This, along with residual rate fear after Friday’s strong payroll report, is pressuring stock and commodity prices. There is no significant US data due today, leaving traders free to continue to ruminate about the effect that Friday’s NFP will have on Fed policy, especially with an FOMC report coming up on Dec. 17.  There’s another bit of drama coming from Washington as Congress needs to pass a funding bill by Dec. 11 in order to avoid a government shutdown.  Current conventional wisdom is that a bill we be passed to fund through February, when the new Congress will be in place. At that time Congressional Republicans may use the funding bill in order to counter President Obama on the immigration issue. A shutdown could cause problems for the stock market and the strong USD.

Dec. EMini S&P Futures:  It’s on a Taylor Trading Technique Sell Short day signal and Friday was an NR4 day. For the day session I would consider shorting it if it’s below Friday’s low of 2068.50; on the upside watch the overnight triple top at 2070.75 as the first reference price and 2072.00 next.

Dec. EMini NASDAQ Futures:  Breakout setup (ID, NR7). It’s trading below Friday’s low; watch 4295.25 as the next downside reference price. On the upside start with the 4305 area.

March T Bonds:  Holding above 141-19 should help extend a rally; the next objective is 142-00 to 142-02.  The 10 year T Notes are on a clear Buy day signal today.

March British Pound:  TTT Buy day; holding above the Fibonacci retracement level at 1.5622 should help extend the rally.

Feb. Gold Futures:  It’s a “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated; the 1200 area should be resistance.

March Cocoa:  It’s on a TTT Sell Short day signal. I’d like to see a break in order to get long; watch support in the 2875 area.

March Sugar:  Breakout setup; watch 15.15 as the first reference price for a downside breakout.

Jan. Soybeans: TTT Sell Short day- look to sell a break below the overnight low (1030-4)? 1023 would be the first downside target.

March Corn:  Looking for a Sell Short day move, reference prices for it are 396-4 and 394-2.

Jan. Soymeal:  Sell Short day; holding below the Fibonacci retracement level at 366.10 should encourage a selloff.

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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