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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 13, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Top 50 Trading Rules:
Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures
500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.
Their answers reflected the trading experience of more than 10,000 futures traders. Download the PDF and find out what they said.
1.) Have a Plan
Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.
2.) News Factor
Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.
3.) Trade Objectively
After several profitable trades, many speculators become wild and nonconservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”
4.) Know Your Size
Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.
5.) Don’t Get Greedy when it comes to Trading Futures
Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.
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 | 2125.33 | 4509.50 | 18305 | 1260.03 | 96.10 |
| Resistance 2 | 2113.17 | 4473.75 | 18188 | 1247.17 | 95.68 |
| Resistance 1 | 2103.58 | 4446.00 | 18105 | 1239.03 | 95.16 |
| Pivot | 2091.42 | 4410.25 | 17988 | 1226.17 | 94.73 |
| Support 1 | 2081.83 | 4382.50 | 17905 | 1218.03 | 94.21 |
| Support 2 | 2069.67 | 4346.75 | 17788 | 1205.17 | 93.79 |
| Support 3 | 2060.08 | 4319.00 | 17705 | 1197.03 | 93.27 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1215.8 | 17.18 | 63.45 | 157 5/32 | 1.1435 |
| Resistance 2 | 1206.0 | 16.89 | 62.30 | 155 23/32 | 1.1360 |
| Resistance 1 | 1199.2 | 16.70 | 61.42 | 154 20/32 | 1.1290 |
| Pivot | 1189.4 | 16.41 | 60.27 | 153 6/32 | 1.1215 |
| Support 1 | 1182.6 | 16.23 | 59.39 | 152 3/32 | 1.1145 |
| Support 2 | 1172.8 | 15.94 | 58.24 | 150 21/32 | 1.1070 |
| Support 3 | 1166.0 | 15.75 | 57.36 | 149 18/32 | 1.1000 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 370.4 | 480.5 | 996.33 | 318.73 | 3.11 |
| Resistance 2 | 367.3 | 480.5 | 988.17 | 315.47 | 3.02 |
| Resistance 1 | 364.2 | 480.5 | 971.83 | 309.43 | 2.96 |
| Pivot | 361.1 | 480.5 | 963.67 | 306.17 | 2.87 |
| Support 1 | 357.9 | 480.5 | 947.3 | 300.1 | 2.8 |
| Support 2 | 354.8 | 480.5 | 939.17 | 296.87 | 2.73 |
| Support 3 | 351.7 | 480.5 | 922.83 | 290.83 | 2.67 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:45pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMay 13 | 1:30am | EUR | French Prelim GDP q/q | 0.4% | 0.1% | ||||
| 2:00am | EUR | German Prelim GDP q/q | 0.5% | 0.7% | |||||
| EUR | German Final CPI m/m | -0.1% | -0.1% | ||||||
| EUR | German WPI m/m | 0.4% | 1.0% | ||||||
| 2:45am | EUR | French CPI m/m | 0.2% | 0.7% | |||||
| EUR | French Prelim Non-Farm Payrolls q/q | 0.0% | 0.0% | ||||||
| 4:00am | EUR | Italian Prelim GDP q/q | 0.2% | 0.0% | |||||
| 5:00am | EUR | Flash GDP q/q | 0.5% | 0.3% | |||||
| EUR | Industrial Production m/m | 0.1% | 1.1% | ||||||
| Tentative | EUR | German 10-y Bond Auction | 0.13|1.5 | ||||||
| 8:30am | USD | Core Retail Sales m/m | 0.4% | 0.4% | |||||
| USD | Retail Sales m/m | 0.3% | 0.9% | ||||||
| USD | Import Prices m/m | 0.3% | -0.3% | ||||||
| 10:00am | USD | Business Inventories m/m | 0.2% | 0.3% | |||||
| 10:30am | USD | Crude Oil Inventories | -0.1M | -3.9M | |||||
| 1:01pm | USD | 10-y Bond Auction | 1.93|2.6 |
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.