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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 Friday September 18, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
This much anticipated FOMC lived up to expectations….tremendous volatility for sure. I hope some of you read my tips YESTERDAY about lowering trading quantities and widening stops etc.
That’s history but one thing I recommend, is write down notes from today. market behavior, your behavior etc. Keep it as part of your trading journal. Might help you the next FOMC…..What’s next? To be honest I am not sure at this point.
Here is my daily chart for the mini Russell 2000. Confused market in my opinion.
PS:
1. Many times the big move happens the DAY AFTER FOMC
2. Tomorrow is quadruple witching….
TFE – Russell 2000 Index Mini, Equalized Active Daily Continuation : Heikin-Ashi
Did you know Cannon offers FOREX trading including the MT4 platform? Check out our Trading Systems/ALGO Trading and Managed Accounts section!
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 Dec. 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2038.58 | 4509.58 | 17057 | 1209.60 | 96.25 |
| Resistance 2 | 2025.17 | 4475.67 | 16947 | 1199.80 | 95.89 |
| Resistance 1 | 2002.33 | 4424.83 | 16758 | 1186.60 | 95.20 |
| Pivot | 1988.92 | 4390.92 | 16648 | 1176.80 | 94.84 |
| Support 1 | 1966.08 | 4340.08 | 16459 | 1163.60 | 94.16 |
| Support 2 | 1952.67 | 4306.17 | 16349 | 1153.80 | 93.80 |
| Support 3 | 1929.83 | 4255.33 | 16160 | 1140.60 | 93.11 |
| Contract | Dec. Gold | Dec. Silver | Oct. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1155.8 | 15.83 | 48.96 | 155 28/32 | 1.1660 |
| Resistance 2 | 1144.3 | 15.55 | 48.34 | 154 24/32 | 1.1559 |
| Resistance 1 | 1137.6 | 15.33 | 47.58 | 154 6/32 | 1.1505 |
| Pivot | 1126.1 | 15.05 | 46.96 | 153 2/32 | 1.1404 |
| Support 1 | 1119.4 | 14.82 | 46.20 | 152 16/32 | 1.1350 |
| Support 2 | 1107.9 | 14.54 | 45.58 | 151 12/32 | 1.1249 |
| Support 3 | 1101.2 | 14.32 | 44.82 | 150 26/32 | 1.1195 |
| Contract | Dec. Corn | Dec. Wheat | Nov Beans | Dec. SoyMeal | Oct. Nat Gas |
| Resistance 3 | 389.3 | 495.9 | 896.50 | 320.37 | 2.77 |
| Resistance 2 | 387.4 | 492.8 | 892.50 | 318.63 | 2.72 |
| Resistance 1 | 383.6 | 487.2 | 888.50 | 315.47 | 2.69 |
| Pivot | 381.7 | 484.1 | 884.50 | 313.73 | 2.65 |
| Support 1 | 377.8 | 478.4 | 880.5 | 310.6 | 2.6 |
| Support 2 | 375.9 | 475.3 | 876.50 | 308.83 | 2.57 |
| Support 3 | 372.1 | 469.7 | 872.50 | 305.67 | 2.54 |
| Date | 4:15pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriSep 18 | 4:00am | EUR | Current Account | 21.3B | 25.4B | ||||
| 10:00am | USD | CB Leading Index m/m | 0.2% | -0.2% |
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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