FOMC Provided Volatility, Economic Reports & Levels 9.18.2014
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
FOMC day provided the volatility expected. I speculate that we will see more volatility tomorrow as well.
In addition we got the vote in Scotland that can affect the British Pound as well as some other currencies. My outlook for the pound is available here.
On a different note, I am sharing with you a screen shot of my mini Russell chart. 18 ticks range bar chart along with my DIAMOND ALGO, which works better when there is two sided action like we seen the last couple of days versus when we have a strong trending day.
The DIAMOND ALGO tries to predict turning points in the market.
TFEZ4 – Russell 2000 Index Mini, Dex. 14 : Range Bar, 18 Tick Units
Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above and be able to apply for any market and any time frame on your own PC ? You can now have a three weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts OR CQG Q Trader.
To start your trial, please visit: http://levex.net/trading-algo/
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
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.
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. 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 | 2024.25 | 4132.83 | 17271 | 1169.20 | 85.83 |
| Resistance 2 | 2013.75 | 4108.42 | 17202 | 1162.10 | 85.35 |
| Resistance 1 | 2004.25 | 4088.08 | 17142 | 1155.70 | 85.05 |
| Pivot | 1993.75 | 4063.67 | 17073 | 1148.60 | 84.56 |
| Support 1 | 1984.25 | 4043.33 | 17013 | 1142.20 | 84.26 |
| Support 2 | 1973.75 | 4018.92 | 16944 | 1135.10 | 83.78 |
| Support 3 | 1964.25 | 3998.58 | 16884 | 1128.70 | 83.48 |
| Contract | December Gold | Dec.Silver | Oct. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1254.0 | 19.02 | 96.22 | 137 12/32 | 1.3096 |
| Resistance 2 | 1247.3 | 18.91 | 95.64 | 137 1/32 | 1.3044 |
| Resistance 1 | 1235.5 | 18.71 | 94.90 | 136 12/32 | 1.2964 |
| Pivot | 1228.8 | 18.60 | 94.32 | 136 1/32 | 1.2912 |
| Support 1 | 1217.0 | 18.40 | 93.58 | 135 12/32 | 1.2832 |
| Support 2 | 1210.3 | 18.29 | 93.00 | 135 1/32 | 1.2780 |
| Support 3 | 1198.5 | 18.09 | 92.26 | 134 12/32 | 1.2700 |
| Contract | Dec Corn | Dec. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 343.8 | 500.5 | 992.67 | 349.07 | 34.13 |
| Resistance 2 | 342.9 | 500.3 | 988.83 | 343.93 | 33.86 |
| Resistance 1 | 342.3 | 499.8 | 985.67 | 334.07 | 33.70 |
| Pivot | 341.4 | 499.5 | 981.83 | 328.93 | 33.43 |
| Support 1 | 340.8 | 499.0 | 978.7 | 319.1 | 33.3 |
| Support 2 | 339.9 | 498.8 | 974.83 | 313.93 | 33.00 |
| Support 3 | 339.3 | 498.3 | 971.67 | 304.07 | 32.84 |
source: http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:13pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuSep 18 | 5:15am | EUR | Targeted LTRO | ||||||
| 8:30am | USD | Building Permits | 1.04M | 1.06M | |||||
| USD | Unemployment Claims | 312K | 315K | ||||||
| USD | Housing Starts | 1.04M | 1.09M | ||||||
| 8:45am | USD | Fed Chair Yellen Speaks | |||||||
| 10:00am | USD | Philly Fed Manufacturing Index | 22.8 | 28.0 | |||||
| 10:30am | USD | Natural Gas Storage | 91B | 92B |
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.
