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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 Tuesday April 22, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Extremely light volume in the markets today as Europe was still on a holiday. Volume in the mini SP contract was about 35% of the average normal daily volume as of lately. I suspect that both market participants and volatility should return tomorrow from the Easter holiday.
Daily chart of the mini SP for your review below:
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GOOD TRADING
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| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1877.17 | 3597.08 | 16457 | 1155.97 | 80.30 |
| Resistance 2 | 1871.33 | 3574.17 | 16425 | 1147.83 | 80.18 |
| Resistance 1 | 1868.17 | 3562.58 | 16399 | 1143.37 | 80.11 |
| Pivot | 1862.33 | 3539.67 | 16367 | 1135.23 | 79.99 |
| Support 1 | 1859.17 | 3528.08 | 16341 | 1130.77 | 79.91 |
| Support 2 | 1853.33 | 3505.17 | 16309 | 1122.63 | 79.79 |
| Support 3 | 1850.17 | 3493.58 | 16283 | 1118.17 | 79.72 |
| Contract | June Gold | May Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1321.8 | 2014.2 | 104.80 | 134 26/32 | 1.3862 |
| Resistance 2 | 1312.1 | 1992.3 | 104.31 | 134 19/32 | 1.3846 |
| Resistance 1 | 1301.1 | 1966.7 | 103.93 | 134 6/32 | 1.3818 |
| Pivot | 1291.4 | 1944.8 | 103.44 | 133 31/32 | 1.3802 |
| Support 1 | 1280.4 | 1919.2 | 103.06 | 133 18/32 | 1.3774 |
| Support 2 | 1270.7 | 1897.3 | 102.57 | 133 11/32 | 1.3758 |
| Support 3 | 1259.7 | 1871.7 | 102.19 | 132 30/32 | 1.3730 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 503.7 | 675.5 | 1512.17 | 492.70 | 43.82 |
| Resistance 2 | 500.6 | 675.5 | 1503.08 | 487.10 | 43.59 |
| Resistance 1 | 497.2 | 675.5 | 1495.17 | 481.60 | 43.42 |
| Pivot | 494.1 | 675.5 | 1486.08 | 476.00 | 43.19 |
| Support 1 | 490.7 | 675.5 | 1478.2 | 470.5 | 43.0 |
| Support 2 | 487.6 | 675.5 | 1469.08 | 464.90 | 42.79 |
| Support 3 | 484.2 | 675.5 | 1461.17 | 459.40 | 42.62 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:33pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueApr 22 | 9:00am | USD | HPI m/m | 0.6% | 0.5% | ||||
| 10:00am | EUR | Consumer Confidence | -9 | -9 | |||||
| USD | Existing Home Sales | 4.57M | 4.60M | ||||||
| USD | Richmond Manufacturing Index | 0 | -7 |
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.