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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for January 21

Swing Trader’s Insight Futures Watch List for January 21

January 21, 2015 by Scott Hoffman

Financial markets are looking ahead to tomorrow’s ECB meeting, where many expect the ECB to announce a new asset purchase / QE program. ECB Governing Council member Nowotny said “one should not get overexcited” about one policy meeting; his statement threw some cold water on QE expectations and pushed up the Euro today. In US data, December housing starts came in stronger than expected. The Bank of Canada makes a monetary policy announcement at 9 AM CT.

March EMini S&P Futures:  Breakout setup (NR7, doji). Normally we would use yesterday’s high and low as reference prices however they are far away- we’d like to get in earlier. On the downside I would start with the 2007.00 area (trend line). On the upside watch 2014.00 as a pivot point and the overnight double top at 2018.25 as the first upside reference price.

March EMini NASDAQ Futures:  Taylor Trading Technique Sell Short day; look to short on a break below the overnight low of 4149.00.

March T Bonds:  Taylor Trading Sell day and yesterday was an NR4 day- a rally above 150-21 could lead to an upside breakout.

March Euro:  Breakout setup (ID, NR4, doji); watch 116.46 and 115.46 as reference prices. With the ECB meeting tomorrow I wouldn’t expect a lot of follow through from a breakout move.

Feb. Gold:  ROC actually came down on the recent rally; don’t press the short side yet.

March Silver:  Overnight rally out of a breakout setup (NR4, doji). Trade or Fade (my breakout traded advisory, click the Trade or Fade tab on my page) has the upside breakout level at 1831.7 with a first rally target of 1862.4.

March Cocoa:  Look to be short if it’s under trend line support at 2919.

March Sugar:  Its recent pattern has been a consolidation day to give a breakout setup followed by a breakout rally- will we get a consolidation day today?

March Cotton:  It’s a “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated; 57.77 is the reference price. Conservative traders can wait for a rally, which should be an opportunity to get short in a down trending market.

April Live Cattle:  Look to be short if it’s under the 151.00 area.

April Lean Hogs:  It’s a “cover breakout sales” day so a TTT Buy day is anticipated. The old low at 76.22 should now be resistance on a rally.

March Wheat:  I would be starting to look to short it. ROC is on a sell signal and there’s Fibonacci retracement resistance at 545-0. On a further rally watch for resistance at 552-0 (100 day SMA).

March Corn:  Sell Short day. Tuesday high of 391-0 is the reference price and there’s Fib resistance at 391-4. Consider shorting if it breaks under the overnight low of 388-2.

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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