Stocks are a bit higher, regaining some of Friday’s losses. Europe got a bit of a boost after the leader of opposition party Syriza leader Tsipras said if they win in the upcoming election, Greece would repay the debt maturing in March and Greece would remain in the EU. There wasn’t much other news last night and there’s no US economic news due today. Expect traders to follow crude oil. There’s a USDA report out at 11 AM CT.
March EMini S&P Futures: It’s A Taylor Trading Technique Buy day. Look to go long on a failed early selloff (2037.25 was the last overnight low); 2046.75 will be a pivot point / resistance on a rally.
March T Bond Futures: Taylor Trading Sell day. 147-30 is Fibonacci retracement resistance; watch 147-14 as a pivot point for a selloff.
March Euro: It had a breakout setup (ID, NR4) for today; it gapped open higher and then sold off last night. The daily trend is down however I wouldn’t chase the short side this morning; this morning it looks as likely to rally.
Feb. Gold: It’s a Taylor Trading Sell day; watch 1224.00 (Friday high) as a reference price for trend this morning.
March Sugar: Sold off out of a breakout setup. Watch 14.80 as the pivot point for the downside or buy if it rallies above 14.86.
March Cotton: It’s an “exit breakout buys” day so a Taylor Trading Technique Sell Short day is anticipated; watch for a break below Fibonacci support at 60.35 to extend a selloff.
Feb. Crude Oil: I would press the short side if it’s under the recent low at 46.83.
Feb. Natural Gas: It’s selling off out of a breakout setup; will today be the day it breaks below the recent low of 2.805?
Grain Futures: There’s a significant USDA crop production and supply / demand report out at 11 AM CT; trade accordingly. I don’t like taking trades into these reports.
March Soybeans: Taylor Trading Sell day; a break of Friday’s low of 1044-0 could lead to a bigger selloff.
March Wheat: Friday was an NR 7 day; I would consider shorting on a break below the overnight low of 561-2.
March Soymeal: As with the beans, it’s a TTT Sell day. Watch 348.50 as a pivot point for a selloff; downside levels to watch are 346.20 and then 345.00.
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.
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 TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICE.
GLOBAL ASSET ADVISORS, LLC (“GAA”) (DBA: DANIELS TRADING, TOP THIRD AG MARKETING AND FUTURES ONLINE) IS AN INTRODUCING BROKER TO GAIN CAPITAL GROUP, LLC (GCG) A FUTURES COMMISSION MERCHANT AND RETAIL FOREIGN EXCHANGE DEALER. GAA AND GCG ARE WHOLLY OWNED SUBSIDIARIES OF STONEX GROUP INC. (NASDAQ:SNEX) THE ULTIMATE PARENT COMPANY.
