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
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