Crude oil fell to new lows for the move last night; this pressured equities. Crude oil sold off after Russia and Iraq reported increased production in December. The Euro continues to be pressured by the Greek situation; it sold off last night after Der Spiegel reported that Chancellor Merkel is ready to accept a Greek exit from the EU. There’s no US economic data due today.
March EMini S&P Futures: I have today as a Taylor Trading Technique Sell day. That would suggest we look for a rally today, although it doesn’t look very bullish yet. I might look for a TTT Buy day move- watch 2038.75 (Friday low) as a pivot point and 2036.50 (overnight low) as the reference price.
March EMini NASDAQ Futures: Watch the 4201 area as a pivot point today- it’s a significant Fibonacci retracement level.
March T Bonds: It’s an “exit breakout buys” day so a Taylor Trading Technique Sell Short day is anticipated; 145-30 is the reference price. You could also play this same setup in the 5 or 10 year T Notes as well.
March Yen: “Cover breakout sales” / TTT Buy day. Watch the Fib level at 8353 as a pivot point this morning.
March Euro: Taylor Trading Buy day. The 1.1920 area should be support with resistance at 1.1940. There’s a downside gap from 1.1985 to 1.2010.
March British Pound: TTT Buy day. There’s a double bottom at today’s session low of 1.5196; first resistance is 1.5229.
March Canadian Dollar: “Cover b.o. sales” / TTT Buy day. 8469 was the Buy day reference price; 8499 would be a pivot point / resistance.
March Australian Dollar: Another “cover b.o. sales” / TTT Buy day. 8035 is the Buy day reference price; 8084 is the first rally objective.
Feb. Gold: TTT Sell day. The $1200 level will be resistance; we should likely anticipate a Sell Short day for Tuesday.
March Silver: TTT Sell day. Holding above $16.00 could help the bulls; 16.08 is moving average resistance. As with gold, Tuesday will likely be a Sell Short day.
March Sugar: TTT Buy day, 14.15 is the reference price.
March Natural Gas: Sell day. With the size of Friday’s rally I might jump the gun on a Sell Short day and sell it if it drops back under Friday’s high of 3.096.
March Soybeans: Sell day (I look at the Sunday night trade as a separate session on a day like today). There’s an upside gap from 1022-0 to 1022-4.
March Wheat: TTT Sell day; we should anticipate a Sell Short day for Tuesday. Resistance is 594 and then 598.
Mach Corn: Sell day; look to sell a failed rally against the overnight high / Fib level at 404-2.
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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