Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
For 2014 I would like to wish all of you discipline and patience in your trading!
Today’s correction another opportunity to go long?
To be honest, I am not sure and some what exhausted from trying to predict what I consider a manipulated market…yet I am still trying to look at the chart and look for clues from the technical perspective even though stock indices have not really reacted to technicals in a while….
Daily chart of the mini NASDAQ 100 for your review below. I was hoping we can close below the 2073.50 level, which we did not BUT we were able to break it today.
Some possible levels to watch in the chart below:
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.
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Futures Trading Levels
|Contract Dec. 2014||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Feb. Gold||Mar.Silver||Jan. Crude Oil||Mar. Bonds||Dec. Euro|
|Resistance 3||1235.2||16.77||67.52||144 10/32||1.2453|
|Resistance 2||1222.3||16.60||66.54||143 17/32||1.2400|
|Resistance 1||1213.2||16.49||64.75||143 1/32||1.2355|
|Support 1||1191.2||16.22||61.98||141 24/32||1.2257|
|Support 2||1178.3||16.05||61.00||140 31/32||1.2204|
|Support 3||1169.2||15.94||59.21||140 15/32||1.2159|
|Contract||March Corn||March Wheat||Jan. Beans||Jan. SoyMeal||Jan. bean Oil|
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.