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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for January 30

Swing Trader’s Insight Futures Watch List for January 30

January 30, 2015 by Scott Hoffman

Markets were spooked by the January CPI report for the EU; which showed a larger than expected drop of 0.6% y/y.  This increased concerns that Europe is in a deflation trap. There was some friendly data out of Europe as the EU unemployment rate fell in December and German retail sales rose. In the US, the advance estimate for Q4 GDP showed a gain of 2.6%, lower than the forecast 3.0%.  The first GDP estimate often ends up being significantly adjusted in further releases. At 8:45 AM CT we get the Jan. Chicago PMI report; it is expected to show a -1.3 point decline to 57.5 after a big drop in December. Boston Fed Chair Tarullo has a speech on “macro prudential policy objectives” scheduled at 11:45 AM CT; he is the first FOMC member to speak after this week’s meeting. It might be worth a listen to see if he comments on Fed policy.

March EMini S&P Futures:  It’s a Taylor Trading Technique Sell day.  With the daily trend down I might look to press the downside- the 2007.75 area should be resistance and 2001 a pivot point on the downside.

March EMini Russell Futures:  Look to be short here as well –there’s resistance in the 1182.00 area and 1178.50 is a pivot point on the down side.

March T Bonds:  Thursday was an inside day- look for a directional move today. Look to be long if it’s under 150-28; I might also look at buying if it rallies above the session high of 151-09.

March Euro:  Breakout setup (NR7, doji) – use yesterday’s high (1.1372) and low (1.1266) as reference prices. It’s been range bound this week; will today be the day it moves?

April Gold:  It’s a “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated. The break held support at the 20 day EMA; there is resistance at the session high of 1267.50. Don’t get attached to the long side; the daily trend is turning down.

March Copper:  Breakout setup- will this be the day it takes out the recent lows?

March Cocoa:  Small Taylor Trading Buy day rally; looking to sell it.

March Cotton:  Breakout setup- look to short if it takes out the session low of 59.05.

March Crude Oil:  Breakout setup (NR7, doji). Use the overnight high (45.21) and low (44.43) as reference prices.

March Natural Gas:  Another “cover b.o. sales” / Taylor Trading Buy day; 2.672 is the reference price. A rally should be a selling opportunity; the old low at 2.765 is resistance.

March Soybeans:  Breakout setup (ID, NR7) – watch the Tuesday low of 966-2 as a reference price on the down side.

March Wheat:  ROC is up at a sell signal level- look to short if it breaks below the overnight low of 507-0.

March Soymeal:  Breakout setup (ID, NR7), use yesterday’s high (340.80) and low (336.10) as reference prices.

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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