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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday May 27, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Some what of a sell off today although the market bounced pretty good of the lows before the close.
Volume has been very low this past 2 months. take a look at the chart below and see how volume has been consistently below its 12 day moving average since mid March.
I must admit indices have been hard to trade, at least for me personally. I have been having more luck with bonds and Crude oil than the mini SP and mini Russell. I hope that volume and volatility like today will return sooner than later to stock index futures.
Daily Heiken-Ashi chart of the mini SP below for your review along with potential targets above and below:
EP – E-Mini S&P 500, Equalized Active Daily Continuation:Heikin-Ashi
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2153.33 | 4609.17 | 18501 | 1273.57 | 98.68 |
| Resistance 2 | 2140.17 | 4573.83 | 18378 | 1263.33 | 98.08 |
| Resistance 1 | 2122.33 | 4525.67 | 18211 | 1250.57 | 97.74 |
| Pivot | 2109.17 | 4490.33 | 18088 | 1240.33 | 97.14 |
| Support 1 | 2091.33 | 4442.17 | 17921 | 1227.57 | 96.80 |
| Support 2 | 2078.17 | 4406.83 | 17798 | 1217.33 | 96.20 |
| Support 3 | 2060.33 | 4358.67 | 17631 | 1204.57 | 95.86 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1225.1 | 17.59 | 62.30 | 159 3/32 | 1.1120 |
| Resistance 2 | 1216.7 | 17.38 | 61.28 | 157 23/32 | 1.1066 |
| Resistance 1 | 1201.7 | 17.05 | 59.76 | 156 31/32 | 1.0973 |
| Pivot | 1193.3 | 16.85 | 58.74 | 155 19/32 | 1.0919 |
| Support 1 | 1178.3 | 16.52 | 57.22 | 154 27/32 | 1.0826 |
| Support 2 | 1169.9 | 16.31 | 56.20 | 153 15/32 | 1.0772 |
| Support 3 | 1154.9 | 15.98 | 54.68 | 152 23/32 | 1.0679 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 361.5 | 516.6 | 935.00 | 312.50 | 3.00 |
| Resistance 2 | 360.0 | 511.7 | 932.00 | 310.30 | 2.95 |
| Resistance 1 | 357.5 | 502.6 | 927.25 | 306.10 | 2.90 |
| Pivot | 356.0 | 497.7 | 924.25 | 303.90 | 2.86 |
| Support 1 | 353.5 | 488.6 | 919.5 | 299.7 | 2.8 |
| Support 2 | 352.0 | 483.7 | 916.50 | 297.50 | 2.77 |
| Support 3 | 349.5 | 474.6 | 911.75 | 293.30 | 2.71 |
| Date | 4:15pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMay 27 | 2:00am | EUR | GfK German Consumer Climate | 10.0 | 10.1 | ||||
| Day 1 | ALL | G7 Meetings | |||||||
| Tentative | EUR | German 30-y Bond Auction | 1.07|1.3 | ||||||
| 9:00am | EUR | Belgian NBB Business Climate | -5.7 | -6.2 |
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
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