FOMC Report Tomorrow & Futures Levels 1.28.2015

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 Report Tomorrow & Futures Levels 1.28.2015

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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 Wednesday January 28, 2015

Hello Traders,

For 2015 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 28th ).

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 2035.00 with a stop at 2029.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2029.75 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.

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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 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2091.25 4373.67 17996 1222.50 96.45
Resistance 2 2073.00 4322.33 17813 1211.80 95.89
Resistance 1 2049.75 4245.42 17582 1202.60 95.08
Pivot 2031.50 4194.08 17399 1191.90 94.52
Support 1 2008.25 4117.17 17168 1182.70 93.71
Support 2 1990.00 4065.83 16985 1172.00 93.15
Support 3 1966.75 3988.92 16754 1162.80 92.34
Contract Feb. Gold Mar.Silver March Crude Oil Mar. Bonds March   Euro
Resistance 3 1329.2 19.23 48.49 152 1.1661
Resistance 2 1313.3 18.72 47.52 151 14/32 1.1545
Resistance 1 1303.8 18.42 46.75 150 19/32 1.1462
Pivot 1287.9 17.91 45.78 150 1/32 1.1346
Support 1 1278.4 17.61 45.01 149 6/32 1.1263
Support 2 1262.5 17.10 44.04 148 20/32 1.1147
Support 3 1253.0 16.80 43.27 147 25/32 1.1064
Contract March Corn March Wheat March Beans March SoyMeal March bean Oil
Resistance 3 388.2 527.7 990.33 348.73 31.50
Resistance 2 386.6 525.8 986.92 345.67 31.34
Resistance 1 383.9 522.4 980.33 341.13 31.26
Pivot 382.3 520.6 976.92 338.07 31.10
Support 1 379.7 517.2 970.3 333.5 31.0
Support 2 378.1 515.3 966.92 330.47 30.86
5. Economic Reports


All times are Eastern time Zone (EST)

Date 3:42pm Currency Impact Detail Actual Forecast Previous Graph
WedJan 28  2:00am CHF UBS Consumption Indicator 1.29
EUR GfK German Consumer Climate 9.2 9.0
EUR German Import Prices m/m -1.4% -0.8%
Tentative EUR German 30-y Bond Auction 1.77|1.2
10:30am USD Crude Oil Inventories 4.2M 10.1M
2:00pm USD FOMC Statement
USD Federal Funds Rate <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 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.


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