Economic Reports & Levels 10.14.2014

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 & Levels 10.14.2014

Hello Traders,

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



I may sound like a broken record but make sure you are adapting to the different market conditions we are seeing compare to a  month ago or so.

Much higher volatility, speed of price change and wider ranges.

I wrote the following outlook for and sharing it with you as well, again it is just one man’s opinion….mine:


Did AliBaba Mark Stock Market Highs??


Many people have commented about the stock market run of the last few years, its widely perceived “Quantitative Easing” connection, and much more. Some of these people are smarter and more knowledgeable than me when it comes to economics but then again, sometimes the stock market does not react to economics, intuitive correlations, or “brains” but does what it wants to do…..

If you were one of the bulls who bought any significant correction in the past 5-6 years you would have done well, as QE just fueled the stock market into new highs.

To me the big question is: Does this represent the highs for the next few years?

Statistically the right answer is no. There is a higher probability that stocks will recover and make new highs than the chance that this may be the high for the next few months/ few years.


However, in my opinion, there is a much larger room for profits on the downside than there is going long at these levels, especially considering that the FED is unwinding QE.


Read the rest along with charts at:




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 Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1918.08 3907.92 16556 1098.10 86.77
Resistance 2 1905.42 3880.33 16471 1085.70 86.39
Resistance 1 1890.08 3848.17 16366 1072.60 86.15
Pivot 1877.42 3820.58 16281 1060.20 85.77
Support 1 1862.08 3788.42 16176 1047.10 85.53
Support 2 1849.42 3760.83 16091 1034.70 85.15
Support 3 1834.08 3728.67 15986 1021.60 84.91
Contract December Gold Dec.Silver Nov. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1244.9 17.78 88.86 144 9/32 1.2838
Resistance 2 1241.8 17.67 87.23 143 23/32 1.2796
Resistance 1 1237.4 17.53 84.58 143 8/32 1.2729
Pivot 1234.3 17.43 82.95 142 22/32 1.2687
Support 1 1229.9 17.29 80.30 142 7/32 1.2620
Support 2 1226.8 17.18 78.67 141 21/32 1.2578
Support 3 1222.4 17.04 76.02 141 6/32 1.2511
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 375.8 515.3 993.17 334.43 33.06
Resistance 2 366.7 512.4 979.58 329.87 33.00
Resistance 1 361.8 510.8 972.17 326.93 32.93
Pivot 352.7 507.9 958.58 322.37 32.87
Support 1 347.8 506.3 951.2 319.4 32.8
Support 2 338.7 503.4 937.58 314.87 32.74
Support 3 333.8 501.8 930.17 311.93 32.67
Economic Reports


All times are Eastern time Zone (EST)


Date 4:12pm Currency Impact Detail Actual Forecast Previous Graph
WedOct 15  2:00am EUR German Final CPI m/m 0.0% 0.0%
3:00am EUR ECB President Draghi Speaks
8:30am USD Core Retail Sales m/m 0.2% 0.3%
USD PPI m/m 0.1% 0.0%
USD Retail Sales m/m -0.1% 0.6%
USD Core PPI m/m 0.1% 0.1%
USD Empire State Manufacturing Index 20.3 27.5
10:00am USD Business Inventories m/m 0.4% 0.4%
2:00pm EUR ECB President Draghi Speaks
USD Beige Book
USD Federal Budget Balance 82.3B -128.7B

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

Click to rate this post!
[Total: 0 Average: 0]
Tags: > > Posted in: Commodity Trading   | Futures Trading   | Index Futures   | Indices  

Comments are closed.

Trading Expertise As Featured In

Trading Tips You Can Use Right Away!

Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips