Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 May 28, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Volume the last two days MUCH better than past few weeks on stock index futures.
It seems that NASDAQ is leading the way, higher OR lower….
Was asked by some clients who use my ALGO in regards to what settings I like for day trading the mini NASDAQ.
In general for almost all markets I like to look at an hourly chart, followed by 15 minute chart and then go down to a RANGE chart. In case of mini RUSSELL and crude oil for example I use 18 ticks range chart.
In the case of the mini NASDAQ I like to use the 27 ticks range bar chart as you can see below BUT I must say that from my personal experience I like to trade the following in this order:
- Mini Russell
- Mini SP 500
- Mini Dow
- Mini NASDAQ…..
You can subscribe to a free trial for the different custom indicators I created as well as my main 3 ALGOS 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.
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|Contract June 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||June Gold||July Silver||July Crude Oil||June Bonds||June Euro|
|Resistance 3||1198.0||17.03||60.14||158 11/32||1.1062|
|Resistance 2||1194.2||16.92||59.55||157 16/32||1.0997|
|Resistance 1||1190.6||16.80||58.59||157 1/32||1.0951|
|Support 1||1183.2||16.57||57.04||155 23/32||1.0840|
|Support 2||1179.4||16.46||56.45||154 28/32||1.0775|
|Support 3||1175.8||16.34||55.49||154 13/32||1.0729|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||July Nat Gas|
|ThuMay 28||2:00am||EUR||German Import Prices m/m||0.5%||1.0%|
|2:20am||USD||FOMC Member Williams Speaks|
|Tentative||EUR||Italian 10-y Bond Auction||1.40|1.6|
|Day 2||ALL||G7 Meetings|
|10:00am||USD||Pending Home Sales m/m||0.8%||1.1%|
|10:30am||USD||Natural Gas Storage||95B||92B|
|11:00am||USD||Crude Oil Inventories||-1.5M||-2.7M|
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.