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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 20, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
I have mentioned the Bond market many times before as a nice, different type of market for day trading.
The treasury bonds or 30 year bonds are a liquid market that is active early in the morning (along with the many 8:30 Am EST reports that come out weekly)
Below you will see my chart from today along with some information I have shared before.
If you never traded these contracts before, observe, follow in simulation mode before risking real money.
Interest rates, mostly the ten year and 30 year.
In most platforms, the symbols are ZB for 30 year bonds and ZN for 10 year notes.
| Product Symbol | ZB |
| Contract Size | The unit of trading shall be U.S. Treasury Bonds having a face value at maturity of one hundred thousand dollars ($100,000) or multiples thereof |
| Price Quotation | Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points. |
| Product Symbol | ZN |
| Underlying Unit | One U.S. Treasury note having a face value at maturity of $100,000. |
| Deliverable Grades | U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent. |
| Price Quote | Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points. |
| Tick Size (minimum fluctuation) |
One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract). |
| Contract Months | The first five consecutive contracts in the March, June, September, and December quarterly cycle. |
These contracts are often affected by many of the economic reports that come out at 8:30 Am Eastern and there is very active volume between the hours of 8 am EST and 3 PM EST
Volume on both contracts is very good. Ten years will often have 1 million contracts traded per day ( might be the second most active US futures market after the mini SP 500) and the bonds will avg. around 300,000 contracts.
These markets can experience very volatile movements during and right after different reports but then will often trade smooth or in an intraday trend the rest of the 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.
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| Contract June 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2144.67 | 4549.67 | 18445 | 1273.00 | 97.33 |
| Resistance 2 | 2139.33 | 4538.08 | 18389 | 1266.70 | 96.44 |
| Resistance 1 | 2131.92 | 4519.67 | 18338 | 1260.80 | 95.90 |
| Pivot | 2126.58 | 4508.08 | 18282 | 1254.50 | 95.02 |
| Support 1 | 2119.17 | 4489.67 | 18231 | 1248.60 | 94.48 |
| Support 2 | 2113.83 | 4478.08 | 18175 | 1242.30 | 93.59 |
| Support 3 | 2106.42 | 4459.67 | 18124 | 1236.40 | 93.05 |
| Contract | June Gold | July Silver | July Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1240.8 | 18.48 | 62.19 | 156 12/32 | 1.1492 |
| Resistance 2 | 1233.2 | 18.11 | 61.31 | 155 12/32 | 1.1411 |
| Resistance 1 | 1220.4 | 17.61 | 59.70 | 153 27/32 | 1.1283 |
| Pivot | 1212.8 | 17.24 | 58.82 | 152 27/32 | 1.1202 |
| Support 1 | 1200.0 | 16.75 | 57.21 | 151 10/32 | 1.1074 |
| Support 2 | 1192.4 | 16.38 | 56.33 | 150 10/32 | 1.0993 |
| Support 3 | 1179.6 | 15.88 | 54.72 | 148 25/32 | 1.0865 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 367.3 | 518.8 | 953.00 | 312.10 | 3.24 |
| Resistance 2 | 365.5 | 515.9 | 951.25 | 310.30 | 3.17 |
| Resistance 1 | 363.8 | 513.1 | 948.75 | 308.70 | 3.07 |
| Pivot | 362.0 | 510.2 | 947.00 | 306.90 | 3.00 |
| Support 1 | 360.3 | 507.3 | 944.5 | 305.3 | 2.9 |
| Support 2 | 358.5 | 504.4 | 942.75 | 303.50 | 2.84 |
| Support 3 | 356.8 | 501.6 | 940.25 | 301.90 | 2.73 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:17pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMay 20 | 2:00am | EUR | German PPI m/m | 0.1% | 0.1% | ||||
| 3:00am | USD | FOMC Member Evans Speaks | |||||||
| 10:30am | USD | Crude Oil Inventories | -1.3M | -2.2M | |||||
| 2:00pm | USD | FOMC Meeting Minutes |
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.