Economic Reports & Futures Levels 12.18.2014

Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Economic Reports & Futures Levels 12.18.2014

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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 Thursday December 18, 2014

Hello Traders,

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

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And the volatility continues…..between FOMC, craziness in crude many of the commodity markets experienced some extreme volatility these past few weeks….

Be careful. These are different market conditions and high volatility may require you to adjust your stops based on volatility, may require you to adjust your entry techniques and in general will require you to do some home work, look at previous periods of similar volatility and adjust your trading accordingly.

This may be a “stupid example” but will serve the purpose:

If 2 months ago you were trading the mini SP and 3 point stop was sufficient for your method and entries, I can almost say with 99% confidence that it will not work during this period of volatility as the market can move 3 points in 15 seconds and take you out very quickly just to go back to where you thought it would.

Do your homework. Trading is NOT easy to say the least and markets evolve and change all the time. Markets also go from periods of lower volatility to higher volatility etc.

If I can be of help – let me know and best of trading to everyone.


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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Futures Trading Levels

Contract March 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2068.83 4285.83 17717 1223.80 90.98
Resistance 2 2039.92 4229.42 17522 1197.70 90.17
Resistance 1 2023.83 4194.33 17406 1184.20 89.70
Pivot 1994.92 4137.92 17211 1158.10 88.89
Support 1 1978.83 4102.83 17095 1144.60 88.42
Support 2 1949.92 4046.42 16900 1118.50 87.61
Support 3 1933.83 4011.33 16784 1105.00 87.14
Contract Feb. Gold Mar.Silver Jan. Crude Oil Mar. Bonds March   Euro
Resistance 3 1221.2 16.45 63.27 147 15/32 1.2667
Resistance 2 1212.2 16.26 61.13 146 25/32 1.2595
Resistance 1 1200.1 16.01 58.50 145 31/32 1.2472
Pivot 1191.1 15.81 56.36 145 9/32 1.2400
Support 1 1179.0 15.56 53.73 144 15/32 1.2277
Support 2 1170.0 15.37 51.59 143 25/32 1.2205
Support 3 1157.9 15.12 48.96 142 31/32 1.2082
Contract March Corn March Wheat Jan. Beans Jan. SoyMeal Jan. bean Oil
Resistance 3 413.7 674.3 1043.67 370.43 32.48
Resistance 2 411.6 661.7 1037.33 365.77 32.29
Resistance 1 409.9 655.1 1032.17 362.53 32.03
Pivot 407.8 642.4 1025.83 357.87 31.84
Support 1 406.2 635.8 1020.7 354.6 31.6
Support 2 404.1 623.2 1014.33 349.97 31.39
Support 3 402.4 616.6 1009.17 346.73 31.13
5. Economic Reports


All times are Eastern time Zone (EST)


Date Currency Impact Detail Actual Forecast Previous Graph
ThuDec 18  4:00am EUR German Ifo Business Climate 105.6 104.7
Day 1 EUR EU Economic Summit
Tentative EUR Spanish 10-y Bond Auction 1.84|2.2
8:30am USD Unemployment Claims 297K 294K
9:45am USD Flash Services PMI 57.1 56.2
10:00am USD Philly Fed Manufacturing Index 26.3 40.8
USD CB Leading Index m/m 0.6% 0.9%
10:30am USD Natural Gas Storage -51B

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.


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