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Home / Futures Blog / Swing Trader’s Insight Futures Watch List for March 19

Swing Trader’s Insight Futures Watch List for March 19

March 19, 2015 by Scott Hoffman

Markets are reversing the post FOMC moves of yesterday. We can talk about the timing and pace of US interest rate hikes however the fact remains that the US is the only major industrial country that is even considering raising interest rates. The Fed did nothing to turn the bullish trend for the USD, and trends in a number of other markets are influenced by that. Europe continues to be under the gun with the Greek debt situation, with 2 billion Euros in debt maturing on Friday and government salaries and pension payments due at the end of the month. The ECB raised the amount of emergency liquidity available to Greek banks however it remains to be seen whether there will be a way out of this problem.  In US news, weekly jobless claims were a non-event. At 9 AM CT is the Philly Fed survey for March; it is forecast to be up 1.8 to 7.0.  At 9:30 AM CT is the weekly EIA natural gas storage report; traders look for a withdrawal of 45 bcf last week.

June EMini S&P Futures:  It’s an “exit breakout buys” day so a Taylor Trading Technique Sell Short day is anticipated. Watch for resistance at 2092.00. The first downside target is the 2076.00 area. The next day or two will be significant for intermediate term trend- an inability to hold on to / extend gains will likely cause a bigger selloff.

June T Bond Futures:  TTT Sell Short day. Watch 163-02 as a pivot point for the downside this morning; a selloff should be a buying opportunity.

June Euro:  As I said in yesterday afternoon’s comment, yesterday’s Fed meeting didn’t change the fundamental picture for the USD. Continue to favor the short side of the Euro although the volatility makes it challenging to find a setup. Watch the 1.0700 area as a pivot point this morning- reference price for a short sale?

April Gold:  Another “exit b.o. buys” / TTT Sell Short day; there was a high violation sell signal overnight. Resistance is 1162 and then 1165; another break below 1160 could extend the selloff.

May Silver:  “exit b.o. buys” / TTT Sell Short day; watch the 1574 level as a pivot point for the downside.

May Coffee:  It’s a TTT Sell day and Wednesday was an NR4 day- watch the 9 March high of 142.20 as a reference price for an upside breakout rally.

May Cotton:  Taylor Trading Sell Short day. It tested a major Fibonacci retracement level at 63.04; use 62.65 (Weds. high) as the reference price for the SS day move.

May Crude Oil:  Sell Short day. Look for resistance at 45.50; breaking support in the 45.00 area could yield a bigger break.

May Natural Gas:  Look for a breakout trade opportunity after the 9:30 EIA report.

May Soybeans:  It had breakout setup for today; then gapped higher and rallied last night.  It then fell back to fill in the gap; look to trade it from the short side today. Look for resistance in the 970 to 972 area.

May Corn:  Look to short it- either a rally to the 377 area or a break of old low / Fibonacci retracement support at 373-6.

May Soymeal:  Look to short on a retracement to the 325 area.

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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