Mini S&P Hits New Highs & Futures Levels & Economic Reports 12.19.2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 December 19, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
We need your votes!!
I have gotten and getting great feedback from many of you and would appreciate if you can take a couple of seconds to vote at:
Also keep in mind that March is now the front month for stock indices, financials, currencies and grains!
What a wild ride today following the FOMC !!
Two charts for your viewing pleasure….one is an 8 tick range bar of the mini SP. Note it took the market 4 hours to complete the same range ( volume as well) it did in about 2 minutes right after FOMC ( if you read my blog yesterday, you hopefully listened and stayed out of the market during the minutes before and right after as I feel it is a pure gamble) – so first chart just to demonstrate the volatility after the report.
ESh4 2.00 mg #2 E-Mini SP
Second chart is a daily chart of the March mini SP along with possible levels both above and below.
EP – E Mini S&P 500, Equalized Active Daily Continuation
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GOOD TRADING
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| Contract March 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1867.08 | 3633.25 | 16625 | 1165.53 | 82.26 |
| Resistance 2 | 1836.92 | 3571.25 | 16376 | 1148.37 | 81.49 |
| Resistance 1 | 1821.08 | 3539.25 | 16246 | 1139.63 | 81.04 |
| Pivot | 1790.92 | 3477.25 | 15997 | 1122.47 | 80.27 |
| Support 1 | 1775.08 | 3445.25 | 15867 | 1113.73 | 79.83 |
| Support 2 | 1744.92 | 3383.25 | 15618 | 1096.57 | 79.06 |
| Support 3 | 1729.08 | 3351.25 | 15488 | 1087.83 | 78.61 |
| Contract | Feb. Gold | Mar. Silver | Jan. Crude Oil | Mar. Bonds | Mar. Euro |
| Resistance 3 | 1265.9 | 2106.2 | 99.37 | 132 3/32 | 1.3974 |
| Resistance 2 | 1255.0 | 2066.3 | 98.84 | 131 6/32 | 1.3910 |
| Resistance 1 | 1237.1 | 2022.2 | 98.34 | 130 8/32 | 1.3801 |
| Pivot | 1226.2 | 1982.3 | 97.81 | 129 11/32 | 1.3737 |
| Support 1 | 1208.3 | 1938.2 | 97.31 | 128 13/32 | 1.3628 |
| Support 2 | 1197.4 | 1898.3 | 96.78 | 127 16/32 | 1.3564 |
| Support 3 | 1179.5 | 1854.2 | 96.28 | 126 18/32 | 1.3455 |
| Contract | March Corn | March Wheat | Jan .Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 434.9 | 617.5 | 1363.50 | 464.00 | 39.75 |
| Resistance 2 | 432.3 | 616.3 | 1355.50 | 459.00 | 39.60 |
| Resistance 1 | 428.7 | 614.5 | 1339.75 | 450.10 | 39.33 |
| Pivot | 426.1 | 613.3 | 1331.75 | 445.10 | 39.18 |
| Support 1 | 422.4 | 611.5 | 1316.0 | 436.2 | 38.9 |
| Support 2 | 419.8 | 610.3 | 1308.00 | 431.20 | 38.76 |
| Support 3 | 416.2 | 608.5 | 1292.25 | 422.30 | 38.49 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:54pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuDec 19 | 4:00am | EUR | Current Account | 21.8B | 14.2B | 14.9B | |||
| Day 1 | EUR | EU Economic Summit | |||||||
| 4:42am | EUR | Spanish 10-y Bond Auction | 4.10|3.6 | 4.16|2.6 | |||||
| 8:30am | USD | Unemployment Claims | 379K | 336K | 369K | ||||
| 10:00am | USD | Existing Home Sales | 4.90M | 5.04M | 5.12M | ||||
| USD | Philly Fed Manufacturing Index | 7.0 | 10.3 | 6.5 | |||||
| USD | CB Leading Index m/m | 0.8% | 0.7% | 0.1% | |||||
| 10:30am | USD | Natural Gas Storage | -285B | -260B | -81B |
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 herein 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
