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Earnings Season Started & Economic Reports 07.10.2014

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 July 10, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

Earnings season has started. Make sure you are aware of when major market movers are reporting.

The calendar can be found at: http://www.morningstar.com/earnings/earnings-calendar.aspx

Today I want to refresh our blog readers with what I call “there is life after mini SP for day-traders….” One of my favorite markets for day-trading is the 30 year bonds.

Too many of our clients trade the mini SP 500 and that’s it. I think that if one has the capital/ time/ knowledge, one should be looking to trade more than one market for purposes of diversification.

Each market has a different personality and behavior is dependent on the time of day when it’s most active.. If you are finding that the ES ( mini SP) is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in the demo / simulated mode.

 

There are more than a few markets that I think are suitable for day-trading. Below you will find some observations, tips along with what is unique about these markets, their personality and the most active trading hours.

 

Interest Rates, 10 year and 30 year.

 

In most platforms, the symbols are ZB for 30 year bonds and ZN for 10 year notes. The current front month is September which is U. So ZBU4 for example.

Product Symbol ZB
Contract Size The unit of trading shall be U.S. Treasury Bonds having a face value at maturity of one hundred thousand dollars ($100,000) or multiples thereof
Price Quotation Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points.
Product Symbol ZN

 

Underlying Unit One U.S. Treasury note having a face value at maturity of $100,000.
Deliverable Grades U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent.
Price Quote Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points.
Tick Size
(minimum fluctuation)
One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).
Contract Months The first five consecutive contracts in the March, June, September, and December quarterly cycle.

These contracts are often affected by many of the economic reports that come out at 8:30 Am Eastern and there is very active volume between the hours of 8 am EST and 3 PM EST

Volume on both contracts is very good. Ten years will often have 1 million contracts traded per day

(might be the second most active US futures market after the mini SP 500) and the bonds will avg. around 300,000 contracts.

These markets can experience very volatile movements during and right after different reports but then will often trade smooth or in an intraday trend the rest of the day.

 

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

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.  Past performance is not indicative to future results.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract Sept. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1980.58 3933.08 17035 1186.73 80.47
Resistance 2 1974.42 3911.92 16981 1181.37 80.37
Resistance 1 1970.58 3898.83 16946 1176.03 80.22
Pivot 1964.42 3877.67 16892 1170.67 80.12
Support 1 1960.58 3864.58 16857 1165.33 79.97
Support 2 1954.42 3843.42 16803 1159.97 79.87
Support 3 1950.58 3830.33 16768 1154.63 79.72
Contract August Gold Sept.Silver August Crude Oil September Bonds Sept. Euro
Resistance 3 1349.8 2153.2 104.75 137 25/32 1.3709
Resistance 2 1341.6 2140.8 104.18 137 13/32 1.3681
Resistance 1 1335.1 2128.7 103.15 137 2/32 1.3663
Pivot 1326.9 2116.3 102.58 136 22/32 1.3635
Support 1 1320.4 2104.2 101.55 136 11/32 1.3617
Support 2 1312.2 2091.8 100.98 135 31/32 1.3589
Support 3 1305.7 2079.7 99.95 135 20/32 1.3571
Contract Dec Corn Sept. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 407.9 553.7 1127.83 363.00 38.06
Resistance 2 404.8 553.1 1121.92 361.00 37.90
Resistance 1 401.4 552.2 1112.83 358.10 37.60
Pivot 398.3 551.6 1106.92 356.10 37.44
Support 1 394.9 550.7 1097.8 353.2 37.1
Support 2 391.8 550.1 1091.92 351.20 36.98
Support 3 388.4 549.2 1082.83 348.30 36.68
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 3:26pm Currency Impact Detail Actual Forecast Previous Graph
ThuJul 10  2:45am EUR French Industrial Production m/m 0.5% 0.3%
EUR French CPI m/m 0.2% 0.0%
4:00am EUR ECB Monthly Bulletin
EUR Italian Industrial Production m/m 0.6% 0.7%
8:30am USD Unemployment Claims 316K 315K
10:00am USD Wholesale Inventories m/m 0.6% 1.1%
10:30am USD Natural Gas Storage 100B
1:01pm USD 30-y Bond Auction 3.44|2.7
4:30pm USD FOMC Member Fischer Speaks

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.

Tags: > > Posted in: Commodity Brokers   | Commodity Trading   | Index Futures  

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