The Futures Trader's Destination for Over 25 Years

Open an Account
Call Us Free: 1-800-454-9572
Why Trade with Cannon?
  • USA
  • Canada
  • Mexico
  • United Kingdom
  • France
  • Italy
  • Spain
  • Germany
  • Australia
  • Netherlands
  • Romania
  • Belgium
  • Sweden
  • Czech Republic
  • Hungary
  • Switzerland
  • Austria
  • Portugal
  • Denmark
  • Greece
  • UAE
  • Israel
  • Jordan
  • Saudi Arabia
  • India
  • Argentina
  • Costa Rica
  • Peru
  • Chile
  • Brazil
  • China
  • Hong Kong
  • Japan
  • Russia
  • Thailand
  • South Korea
  • Taiwan
  • Philippines
  • Singapore
  • And Many More!
Countries We Accept Clients From | International Calls: 310-859-9572

FOMC, Futures Levels & Economic Reports 1.29.2014

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 29, 2014

Hello Traders,

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

The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, Jan. 29th).

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1795.00 with a stop at 1789.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1789.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined

If you like the information we share? We would appreciate your positive reviews on our new yelp!!

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract March 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1811.42 3553.92 16044 1153.10 81.20
Resistance 2 1800.08 3529.08 15965 1144.80 81.02
Resistance 1 1793.67 3515.42 15919 1140.40 80.83
Pivot 1782.33 3490.58 15840 1132.10 80.65
Support 1 1775.92 3476.92 15794 1127.70 80.46
Support 2 1764.58 3452.08 15715 1119.40 80.28
Support 3 1758.17 3438.42 15669 1115.00 80.09
Contract Feb. Gold Mar. Silver Feb. Crude Oil Mar. Bonds  Mar. Euro
Resistance 3 1275.6 2016.7 100.09 133 15/32 1.3755
Resistance 2 1269.0 2000.3 98.88 133  2/32 1.3721
Resistance 1 1261.5 1978.2 98.06 132 28/32 1.3695
Pivot 1254.9 1961.8 96.85 132 15/32 1.3661
Support 1 1247.4 1939.7 96.03 132  9/32 1.3635
Support 2 1240.8 1923.3 94.82 131 28/32 1.3601
Support 3 1233.3 1901.2 94.00 131 22/32 1.3575
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 436.2 569.3 1296.33 438.90 38.17
Resistance 2 434.8 568.7 1291.17 435.60 37.90
Resistance 1 433.4 567.3 1288.33 432.10 37.65
Pivot 432.1 566.7 1283.17 428.80 37.38
Support 1 430.7 565.3 1280.3 425.3 37.1
Support 2 429.3 564.7 1275.17 422.00 36.86
Support 3 427.9 563.3 1272.33 418.50 36.61
For complete contract specifications for the futures markets listed above click here!

5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:17pm Currency Impact Detail Actual Forecast Previous Graph
WedJan 29 2:00am EUR GfK German Consumer Climate 8.2 7.8 7.7
4:00am EUR M3 Money Supply y/y 1.0% 1.7% 1.5%
EUR Private Loans y/y -2.3% -2.3% -2.3%
5:33am EUR German 10-y Bond Auction 1.77|1.8 1.69|1.7
10:30am USD Crude Oil Inventories 6.4M 2.2M 1.0M
2:00pm USD FOMC Statement
USD Federal Funds Rate <0.25% <0.25% <0.25%

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 herein 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.

 

Tags: Posted in: Future Trading News  

Comments are closed.

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading