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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 Thursday March 10, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
I personally will start trading the June mini SP this Friday but most traders will rollover tomorrow:
Rollover Notice for Stock Index Futures
Important notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones, the “Big” pit-traded S&P 500, etc., it is extremely important to remember that tomorrow, Thursday, March 10th, at 8:30 am CDT Time is rollover day.
Starting March 10th, the June 2016 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2016 contract as of March 10th. Volume in the March 2016 contracts will begin to drop off until its expiration on Friday March 18th.
The month code for June is M6.
Traders with electronic trading software should make sure that defaults reflect the proper contract as of Thursday morning.
Please close any open March Currency positions by the close on Friday the 11th.
Should you have any further question please contact your broker.
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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.
| Contract March 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2012.00 | 4353.00 | 17216 | 1089.87 | 98.16 |
| Resistance 2 | 2003.00 | 4326.00 | 17147 | 1083.03 | 97.87 |
| Resistance 1 | 1996.00 | 4310.75 | 17078 | 1078.37 | 97.52 |
| Pivot | 1987.00 | 4283.75 | 17009 | 1071.53 | 97.23 |
| Support 1 | 1980.00 | 4268.50 | 16940 | 1066.87 | 96.87 |
| Support 2 | 1971.00 | 4241.50 | 16871 | 1060.03 | 96.58 |
| Support 3 | 1964.00 | 4226.25 | 16802 | 1055.37 | 96.23 |
| Contract | Apr. Gold | May Silver | Apr. Crude Oil | June Bonds | March Euro |
| Resistance 3 | 1286.2 | 15.68 | 41.40 | 165 13/32 | 1.1137 |
| Resistance 2 | 1275.9 | 15.57 | 39.96 | 164 23/32 | 1.1087 |
| Resistance 1 | 1264.1 | 15.43 | 39.13 | 163 29/32 | 1.1047 |
| Pivot | 1253.8 | 15.32 | 37.69 | 163 7/32 | 1.0997 |
| Support 1 | 1242.0 | 15.18 | 36.86 | 162 13/32 | 1.0957 |
| Support 2 | 1231.7 | 15.07 | 35.42 | 161 23/32 | 1.0907 |
| Support 3 | 1219.9 | 14.93 | 34.59 | 160 29/32 | 1.0867 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 365.8 | 477.9 | 896.83 | 276.53 | 1.86 |
| Resistance 2 | 363.7 | 473.1 | 892.42 | 274.77 | 1.82 |
| Resistance 1 | 361.6 | 470.7 | 889.08 | 273.03 | 1.79 |
| Pivot | 359.4 | 465.8 | 884.67 | 271.27 | 1.75 |
| Support 1 | 357.3 | 463.4 | 881.3 | 269.5 | 1.7 |
| Support 2 | 355.2 | 458.6 | 876.92 | 267.77 | 1.68 |
| Support 3 | 353.1 | 456.2 | 873.58 | 266.03 | 1.65 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:50pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMar 10 | 1:30am | EUR | French Final Non-Farm Payrolls q/q | 0.2% | 0.2% | ||||
| 2:00am | EUR | German Trade Balance | 19.2B | 19.4B | |||||
| 2:45am | EUR | French Industrial Production m/m | 0.8% | -1.6% | |||||
| 4:00am | EUR | Italian Quarterly Unemployment Rate | 11.5% | 11.7% | |||||
| 7:45am | EUR | Minimum Bid Rate | 0.05% | 0.05% | |||||
| 8:30am | EUR | ECB Press Conference | |||||||
| USD | Unemployment Claims | 272K | 278K | ||||||
| 10:30am | USD | Natural Gas Storage | -51B | -48B | |||||
| 1:01pm | USD | 30-y Bond Auction | 2.50|2.1 | ||||||
| 2:00pm | USD | Federal Budget Balance | -198.3B | 55.2B |
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 judgement in trading.