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FOMC is behind us. No surprises today and reaction so far has been mild. Metals up, bonds up and stocks slightly down.
The REAL reaction is usually the next day….
I have spoken to many different clients these past few months, discussing some other markets I like to follow and think are suitable for day trading. While the ES is the most liquid, over the last few years we have seen way too many “dead days”. There is nothing wrong with “dead days”, some traders LOVE those quiet, choppy days. I don’t.
Take a look at markets like crude oil, gold, bonds. Observe for a few days if you have not before. Get a feel for their personality and behaviour and feel free to call any of our professional brokers at + 310 859 9572 with any questions. We will be happy to provide feedback and answer questions.
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.
Futures Trading Levels
7-27-2017
| Contract September 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2487.75 | 5988.00 | 21848 | 1462.43 | 94.82 |
| Resistance 2 | 2483.75 | 5971.25 | 21768 | 1457.37 | 94.47 |
| Resistance 1 | 2479.50 | 5960.50 | 21708 | 1449.93 | 93.92 |
| Pivot | 2475.50 | 5943.75 | 21628 | 1444.87 | 93.57 |
| Support 1 | 2471.25 | 5933.00 | 21568 | 1437.43 | 93.03 |
| Support 2 | 2467.25 | 5916.25 | 21488 | 1432.37 | 92.68 |
| Support 3 | 2463.00 | 5905.50 | 21428 | 1424.93 | 92.13 |
| Contract | August Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1288.9 | 17.19 | 50.10 | 154 17/32 | 1.1931 |
| Resistance 2 | 1276.2 | 16.94 | 49.49 | 153 30/32 | 1.1852 |
| Resistance 1 | 1268.7 | 16.79 | 49.09 | 153 15/32 | 1.1803 |
| Pivot | 1256.0 | 16.54 | 48.48 | 152 28/32 | 1.1724 |
| Support 1 | 1248.5 | 16.39 | 48.08 | 152 13/32 | 1.1676 |
| Support 2 | 1235.8 | 16.14 | 47.47 | 151 26/32 | 1.1597 |
| Support 3 | 1228.3 | 15.99 | 47.07 | 151 11/32 | 1.1548 |
| Contract | Dec. Corn | Sept. Wheat | November Beans | Dec. SoyMeal | Sept. Nat Gas |
| Resistance 3 | 395.4 | 488.2 | 1025.00 | 336.83 | 3.02 |
| Resistance 2 | 390.8 | 484.6 | 1013.75 | 332.37 | 2.99 |
| Resistance 1 | 388.4 | 481.2 | 1007.00 | 329.43 | 2.95 |
| Pivot | 383.8 | 477.6 | 995.75 | 324.97 | 2.92 |
| Support 1 | 381.4 | 474.2 | 989.0 | 322.0 | 2.9 |
| Support 2 | 376.8 | 470.6 | 977.75 | 317.57 | 2.85 |
| Support 3 | 374.4 | 467.2 | 971.00 | 314.63 | 2.82 |
Economic Reports, source:
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 judgement in trading.