FOMC, Futures Trading Levels & Economic Reports 1.30.2014

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.

FOMC, Futures Trading Levels & Economic Reports 1.30.2014

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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 Thursday January 30, 2014

Hello Traders,

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

I think that today’s FOMC market reaction may be a clue for the rest of the year and if I am correct we should see much higher volatility and more downside potential than we have these past 3 years.What we saw today was volatile, fast acting market action right before and following the FOMC rate. In the past couple of years, market reaction to FOMC was MUCH milder. In direct correlation to the QE which is been phased out, I think we will see higher intraday and daily volatility in stock indices and what was once limited downside potential, thanks to the FED artificial QE, will now be a little more “fair game”.Overall in my opinion, this should be good for daytraders and stock index daytraders in specific. Make sure you are aware of this potentially different market environment and hope that 2014 will be a great year!

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.

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Futures Trading Levels

Contract March 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1831.75 3592.00 16252 1169.63 81.25
Resistance 2 1816.50 3560.50 16118 1157.57 81.08
Resistance 1 1794.50 3517.25 15912 1139.93 80.87
Pivot 1779.25 3485.75 15778 1127.87 80.69
Support 1 1757.25 3442.50 15572 1110.23 80.48
Support 2 1742.00 3411.00 15438 1098.17 80.31
Support 3 1720.00 3367.75 15232 1080.53 80.10
Contract Feb. Gold Mar. Silver March Crude Oil Mar. Bonds  Mar. Euro
Resistance 3 1298.6 2050.8 99.39 135 13/32 1.3773
Resistance 2 1284.6 2023.7 98.57 134 19/32 1.3729
Resistance 1 1276.5 1999.3 97.96 133 31/32 1.3691
Pivot 1262.5 1972.2 97.14 133  5/32 1.3647
Support 1 1254.4 1947.8 96.53 132 17/32 1.3609
Support 2 1240.4 1920.7 95.71 131 23/32 1.3565
Support 3 1232.3 1896.3 95.10 131  3/32 1.3527
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 434.0 557.3 1291.83 436.20 37.69
Resistance 2 432.5 555.5 1286.42 432.70 37.57
Resistance 1 430.0 553.5 1277.83 428.00 37.33
Pivot 428.5 551.8 1272.42 424.50 37.21
Support 1 426.0 549.8 1263.8 419.8 37.0
Support 2 424.5 548.0 1258.42 416.30 36.85
Support 3 422.0 546.0 1249.83 411.60 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 4:19pm Currency Impact Detail Actual Forecast Previous Graph
ThuJan 30 All Day EUR German Prelim CPI m/m -0.4% 0.4%
 3:00am EUR Spanish Flash GDP q/q 0.3% 0.1%
3:55am EUR German Unemployment Change -5K -15K
Tentative EUR Italian 10-y Bond Auction 4.11|1.3
8:30am USD Advance GDP q/q 3.3% 4.1%
USD Unemployment Claims 331K 326K
USD Advance GDP Price Index q/q 1.2% 2.0%
10:00am USD Pending Home Sales m/m -0.1% 0.2%
10:30am USD Natural Gas Storage -225B -107B

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.

 

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