Economic Reports & Levels 1.07.2015

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 & Levels 1.07.2015

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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 January 7, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

I wish you and your family  a happy, healthy 2015 and of course a successful trading year in 2015!!


Hello 2015….Volatility and downside pressure are the dominate force to start the new year, however we have seen this before more than a few times in the past only to witness the market rally fast and big within days….The million $$ question,: Is this correction any different or is this a buying opportunity….Must admit I have no clue…..

I think a break below 1978 can trigger a move down to 1909. If the market can hold  and stay above 1978 we may see a run back towards 2046.

Regardless of this medium term outlook, the main thing for most of you day traders out there is that volatility is back, the pressure is now even going both ways (long and short), the ranges are wider, the moves are faster and one needs to adjust their day trading accordingly.

Daily chart of the mini SP 500 for your review below:

EP - E-Mini S&P 500, Equalized Active Daily Continuation

EP – E-Mini S&P 500, Equalized Active Daily Continuation

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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 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2057.00 4246.00 17797 1213.03 92.57
Resistance 2 2040.25 4209.25 17650 1197.97 92.25
Resistance 1 2017.75 4155.50 17471 1177.73 92.05
Pivot 2001.00 4118.75 17324 1162.67 91.73
Support 1 1978.50 4065.00 17145 1142.43 91.54
Support 2 1961.75 4028.25 16998 1127.37 91.22
Support 3 1939.25 3974.50 16819 1107.13 91.02
Contract Feb. Gold Mar.Silver Feb. Crude Oil Mar. Bonds March   Euro
Resistance 3 1248.7 17.44 52.45 151 1/32 1.2040
Resistance 2 1236.0 17.09 51.41 150 4/32 1.2009
Resistance 1 1227.0 16.82 49.63 149 10/32 1.1955
Pivot 1214.3 16.47 48.59 148 13/32 1.1924
Support 1 1205.3 16.19 46.81 147 19/32 1.1870
Support 2 1192.6 15.84 45.77 146 22/32 1.1839
Support 3 1183.6 15.57 43.99 145 28/32 1.1785
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 414.2 597.4 1070.17 365.13 33.19
Resistance 2 411.3 594.6 1063.08 361.57 33.07
Resistance 1 408.2 593.2 1059.42 358.33 32.97
Pivot 405.3 590.3 1052.33 354.77 32.85
Support 1 402.2 588.9 1048.7 351.5 32.8
Support 2 399.3 586.1 1041.58 347.97 32.63
Support 3 396.2 584.7 1037.92 344.73 32.53
5. Economic Reports


All times are Eastern time Zone (EST)


Date 4:22pm Currency Impact Detail Actual Forecast Previous Graph
WedJan 7 2:00am EUR German Retail Sales m/m 0.2% 1.9%
3:00am CHF Foreign Currency Reserves 462.4B
3:55am EUR German Unemployment Change -6K -14K
4:00am EUR Italian Monthly Unemployment Rate 13.3% 13.2%
7th-9th GBP Halifax HPI m/m 0.3% 0.4%
4:10am EUR Retail PMI 48.9
5:00am EUR CPI Flash Estimate y/y 0.0% 0.3%
EUR Core CPI Flash Estimate y/y 0.6% 0.7%
EUR Unemployment Rate 11.5% 11.5%
EUR Italian Prelim CPI m/m -0.2% -0.2%
8:15am USD ADP Non-Farm Employment Change 227K 208K
8:30am CAD Trade Balance -0.2B 0.1B
USD Trade Balance -42.3B -43.4B
10:00am CAD Ivey PMI 52.3 56.9
10:30am USD Crude Oil Inventories 0.9M -1.8M
2:00pm USD FOMC Meeting Minutes
6:30pm USD FOMC Member Evans Speaks
7:30pm AUD Building Approvals m/m -2.7% 11.4%


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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