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Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I may sound like I keep repeating myself but make sure you are adapting to the different market conditions we are seeing compared to a month ago or so.
There is much higher volatility, speed of price change and wider ranges.
Moves today in bonds, S&P, Russell, Crude, Gold and many other markets were very sharp, fast and powerful. This obviously presents both risks and opportunities but for newcomers – mostly risk.
This is a good day to keep notes on in your journal. What caused the price action? What type of “bands” did the market have? How did you do as a trader? What can you do better and learn from for the next “Wild, crazy” day which may even happen tomorrow?
The biggest advice I can give on days like today is to make sure you don’t lose it….make sure you know what your daily loss limit is and step away if it gets triggered. This is one of those days where I have seen traders blow their whole account up…..So just make sure you live to trade another day!
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. Past performance is not indicative to future results.
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Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1959.42 | 3983.67 | 16900 | 1117.23 | 87.54 |
| Resistance 2 | 1921.33 | 3907.58 | 16615 | 1095.37 | 86.84 |
| Resistance 1 | 1889.17 | 3843.42 | 16340 | 1082.53 | 85.94 |
| Pivot | 1851.08 | 3767.33 | 16055 | 1060.67 | 85.23 |
| Support 1 | 1818.92 | 3703.17 | 15780 | 1047.83 | 84.33 |
| Support 2 | 1780.83 | 3627.08 | 15495 | 1025.97 | 83.63 |
| Support 3 | 1748.67 | 3562.92 | 15220 | 1013.13 | 82.73 |
| Contract | December Gold | Dec.Silver | Nov. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1279.8 | 18.62 | 85.12 | 151 18/32 | 1.3192 |
| Resistance 2 | 1265.1 | 18.22 | 83.79 | 149 25/32 | 1.3043 |
| Resistance 1 | 1251.5 | 17.82 | 82.68 | 146 24/32 | 1.2929 |
| Pivot | 1236.8 | 17.42 | 81.35 | 144 31/32 | 1.2780 |
| Support 1 | 1223.2 | 17.02 | 80.24 | 141 30/32 | 1.2666 |
| Support 2 | 1208.5 | 16.62 | 78.91 | 140 5/32 | 1.2517 |
| Support 3 | 1194.9 | 16.22 | 77.80 | 137 4/32 | 1.2403 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 365.7 | 523.3 | 995.33 | 338.43 | 33.24 |
| Resistance 2 | 361.8 | 519.2 | 986.17 | 334.17 | 32.97 |
| Resistance 1 | 354.7 | 512.6 | 969.33 | 330.73 | 32.48 |
| Pivot | 350.8 | 508.4 | 960.17 | 326.47 | 32.21 |
| Support 1 | 343.7 | 501.8 | 943.3 | 323.0 | 31.7 |
| Support 2 | 339.8 | 497.7 | 934.17 | 318.77 | 31.45 |
| Support 3 | 332.7 | 491.1 | 917.33 | 315.33 | 30.96 |
| Date | 3:43pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuOct 16 | 4:00am | EUR | Italian Trade Balance | 3.24B | 6.86B | ||||
| 5:00am | EUR | Final CPI y/y | 0.3% | 0.3% | |||||
| EUR | Final Core CPI y/y | 0.7% | 0.7% | ||||||
| EUR | Trade Balance | 13.5B | 12.2B | ||||||
| Tentative | EUR | Spanish 10-y Bond Auction | 2.08|1.5 | ||||||
| Tentative | EUR | German Buba President Weidmann Speaks | |||||||
| 8:00am | USD | FOMC Member Plosser Speaks | |||||||
| 8:30am | USD | Unemployment Claims | 286K | 287K | |||||
| 9:15am | USD | Capacity Utilization Rate | 79.0% | 78.8% | |||||
| USD | Industrial Production m/m | 0.4% | -0.1% | ||||||
| 10:00am | USD | Philly Fed Manufacturing Index | 19.9 | 22.5 | |||||
| USD | FOMC Member Kocherlakota Speaks | ||||||||
| USD | NAHB Housing Market Index | 59 | 59 | ||||||
| 10:30am | USD | Natural Gas Storage | 91B | 105B | |||||
| 11:00am | USD | Crude Oil Inventories | 2.3M | 5.0M | |||||
| 4:00pm | USD | TIC Long-Term Purchases | 23.3B | -18.6B |
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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