Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 April 30, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
FOMC came and gone, Fed did not supply any new clues about timing for future rate increase and market volatility was a bit less than other FOMC meetings.
Many times the real reaction comes over night, the next trading day. Be ready for a possible volatile day tomorrow. The futures trading business is not an easy one, one moment of losing control, one moment of not following your rules can be very costly.
Make sure that every morning / start of trading day you are ready to trade. If you are sick, if your kids are home and taking your attention, master the level of maturity to tell yourself: “I should not be trading today”.
Over the years I have had more than a few instances where I saw traders lose big portion of their account by not being ready to trade and still trading during large volatility or big moves against them. I was one of them a few times in the past…….
Be prepared, be mature, stay discipline and trade well.
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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|ontract June 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||June Gold||July Silver||June Crude Oil||June Bonds||June Euro|
|Resistance 3||1224.5||17.03||62.50||163 10/32||1.1451|
|Resistance 2||1219.0||16.88||60.91||162 7/32||1.1323|
|Resistance 1||1211.7||16.72||59.71||160 27/32||1.1221|
|Support 1||1198.9||16.41||56.92||158 12/32||1.0991|
|Support 2||1193.4||16.26||55.33||157 9/32||1.0863|
|Support 3||1186.1||16.10||54.13||155 29/32||1.0761|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||June Nat Gas|
|ThuApr 30||2:00am||EUR||German Retail Sales m/m||0.5%||-0.1%|
|2:45am||EUR||French Consumer Spending m/m||-0.5%||0.1%|
|3:00am||EUR||Spanish Flash CPI y/y||-0.7%||-0.7%|
|EUR||Spanish Flash GDP q/q||0.8%||0.7%|
|3:55am||EUR||German Unemployment Change||-14K||-15K|
|4:00am||EUR||ECB Economic Bulletin|
|EUR||Italian Monthly Unemployment Rate||12.6%||12.7%|
|5:00am||EUR||CPI Flash Estimate y/y||0.0%||-0.1%|
|EUR||Core CPI Flash Estimate y/y||0.6%||0.6%|
|EUR||Italian Prelim CPI m/m||0.2%||0.1%|
|USD||Core PCE Price Index m/m||0.2%||0.1%|
|USD||Employment Cost Index q/q||0.6%||0.6%|
|USD||Personal Spending m/m||0.6%||0.1%|
|USD||FOMC Member Tarullo Speaks|
|USD||Personal Income m/m||0.2%||0.4%|
|10:30am||USD||Natural Gas Storage||79B||90B|
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.