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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 March 9, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
Crude Oil inventories tomorrow at 10:30 AM EST, like almost every Wednesday. On weeks when we have long weekends, the report will come out Thursday.
below you will see 1 minute chart from the last two reports, as they say, picture is worth a 1000 words….
Wednesday March 2nd 2016
Wednesday Feb. 24th 2016
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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 | 2019.58 | 4359.75 | 17213 | 1112.93 | 97.74 |
| Resistance 2 | 2009.92 | 4334.25 | 17138 | 1102.87 | 97.51 |
| Resistance 1 | 1995.33 | 4302.50 | 17057 | 1085.63 | 97.36 |
| Pivot | 1985.67 | 4277.00 | 16982 | 1075.57 | 97.13 |
| Support 1 | 1971.08 | 4245.25 | 16901 | 1058.33 | 96.97 |
| Support 2 | 1961.42 | 4219.75 | 16826 | 1048.27 | 96.74 |
| Support 3 | 1946.83 | 4188.00 | 16745 | 1031.03 | 96.59 |
| Contract | Apr. Gold | May Silver | Apr. Crude Oil | June Bonds | March Euro |
| Resistance 3 | 1291.7 | 16.05 | 39.88 | 165 30/32 | 1.1113 |
| Resistance 2 | 1285.3 | 15.91 | 39.14 | 165 13/32 | 1.1087 |
| Resistance 1 | 1273.7 | 15.65 | 37.70 | 164 21/32 | 1.1047 |
| Pivot | 1267.3 | 15.50 | 36.96 | 164 4/32 | 1.1021 |
| Support 1 | 1255.7 | 15.24 | 35.52 | 163 12/32 | 1.0981 |
| Support 2 | 1249.3 | 15.10 | 34.78 | 162 27/32 | 1.0955 |
| Support 3 | 1237.7 | 14.84 | 33.34 | 162 3/32 | 1.0915 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | April Nat Gas |
| Resistance 3 | 369.8 | 477.1 | 896.25 | 279.27 | 1.81 |
| Resistance 2 | 366.2 | 471.4 | 890.50 | 276.33 | 1.77 |
| Resistance 1 | 363.3 | 468.3 | 887.50 | 274.57 | 1.75 |
| Pivot | 359.7 | 462.7 | 881.75 | 271.63 | 1.71 |
| Support 1 | 356.8 | 459.6 | 878.8 | 269.9 | 1.7 |
| Support 2 | 353.2 | 453.9 | 873.00 | 266.93 | 1.65 |
| Support 3 | 350.3 | 450.8 | 870.00 | 265.17 | 1.62 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:52pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedMar 9 | 4:30am | GBP | Manufacturing Production m/m | 0.2% | -0.2% | ||||
| GBP | Industrial Production m/m | 0.6% | -1.1% | ||||||
| 10:00am | GBP | NIESR GDP Estimate | 0.4% | ||||||
| USD | Wholesale Inventories m/m | -0.2% | -0.1% | ||||||
| 10:30am | USD | Crude Oil Inventories | 10.4M | ||||||
| 1:01pm | USD | 10-y Bond Auction | 1.73|2.6 | ||||||
| 7:01pm | GBP | RICS House Price Balance | 52% | 49% |
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.