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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 March 14, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
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, March13th, is rollover day.
Starting March13th, the June 2014 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the June 2014 contract as of March 13th. Volume in the March 2014 contracts will begin to drop off until its expiration on Friday March 21st.
The month code for June is M4.
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 14th.Should you have any further question please contact your broker. |
So June started being the LEAD or FRONT month with a statement as the market dropped pretty hard.
Here is what June mini SP daily chart looks like:
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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.
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* The levels for stock index below are still calculated based on March contract because of volume. To get the levels for June contracts:
subtract 7 points on the SP, 6 points on the mini NASDAQ, 3 points on the mini Russell and 70 points on the mini Dow for each level.
| Contract March 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1901.50 | 3791.58 | 16655 | 1218.17 | 80.36 |
| Resistance 2 | 1888.25 | 3756.92 | 16534 | 1207.33 | 80.09 |
| Resistance 1 | 1868.00 | 3705.58 | 16327 | 1191.67 | 79.91 |
| Pivot | 1854.75 | 3670.92 | 16206 | 1180.83 | 79.64 |
| Support 1 | 1834.50 | 3619.58 | 15999 | 1165.17 | 79.46 |
| Support 2 | 1821.25 | 3584.92 | 15878 | 1154.33 | 79.19 |
| Support 3 | 1801.00 | 3533.58 | 15671 | 1138.67 | 79.01 |
| Contract | Apr. Gold | May Silver | April Crude Oil | June Bonds | Mar. Euro |
| Resistance 3 | 1387.9 | 2179.0 | 99.59 | 135 21/32 | 1.4061 |
| Resistance 2 | 1381.8 | 2163.5 | 99.10 | 134 18/32 | 1.4014 |
| Resistance 1 | 1377.1 | 2141.5 | 98.66 | 133 31/32 | 1.3939 |
| Pivot | 1371.0 | 2126.0 | 98.17 | 132 28/32 | 1.3892 |
| Support 1 | 1366.3 | 2104.0 | 97.73 | 132 9/32 | 1.3817 |
| Support 2 | 1360.2 | 2088.5 | 97.24 | 131 6/32 | 1.3770 |
| Support 3 | 1355.5 | 2066.5 | 96.80 | 130 19/32 | 1.3695 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May bean Oil |
| Resistance 3 | 496.7 | 681.8 | 1439.83 | 463.47 | 43.51 |
| Resistance 2 | 493.3 | 679.4 | 1425.42 | 456.03 | 43.37 |
| Resistance 1 | 489.2 | 676.6 | 1410.83 | 448.97 | 43.18 |
| Pivot | 485.8 | 674.2 | 1396.42 | 441.53 | 43.04 |
| Support 1 | 481.7 | 671.3 | 1381.8 | 434.5 | 42.9 |
| Support 2 | 478.3 | 668.9 | 1367.42 | 427.03 | 42.71 |
| Support 3 | 474.2 | 666.1 | 1352.83 | 419.97 | 42.52 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:20pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMar 14 | 3:00am | EUR | German Final CPI m/m | 0.5% | 0.5% | ||||
| 6:00am | EUR | Employment Change q/q | 0.0% | 0.0% | |||||
| 8:30am | USD | PPI m/m | 0.2% | 0.2% | |||||
| USD | Core PPI m/m | 0.1% | 0.2% | ||||||
| 9:55am | USD | Prelim UoM Consumer Sentiment | 81.9 | 81.2 | |||||
| USD | Prelim UoM Inflation Expectations | 3.3% |
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.