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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.

Hello Traders,

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

Hello Traders,

 

FOMC lived up to the hype with increased volatility in many markets including stock indices, currencies, metals and mainly the bond market ( I recommend exploring the bond market for day-trading as it offers different personality and behavior look at previous blog post here ) 

 

 

  • Fed Ends QE While Keeping ‘Considerable Time’ Low-Rate Pledge

    From bloomberg.com

    Read Full Story at bloomberg.com

    The Federal Reserve confirmed it will end an asset-purchase program that has added $1.66 trillion to its balance sheet and maintained a pledge to keep interest rates low for a “considerable time.” “Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate,” the Federal Open Market Committee said today in a statement in Washington. “A range of labor market indicators suggests that underutiliza tion of labor resources is gradually diminishing,” the panel said, modifying earlier language that “there remains signifi cant underutilization of labor resources.” Policy makers said that while … (full story)

 

Related to the whole FED/ FOMC, please see my review of the NASDAQ chart along with commentary at:

 

 

The FED Wins Again….

A few weeks ago I wrote a post called: ” Alibaba marks stock market highs?”

In that post I mentioned that statistically the odds are against that statement since then Alibaba (NYSE:BABA traded above the $100 mark recently….)…While we did not make new highs, we did bounce SHARPLY from lows made 2 weeks ago and as we head into tomorrow’s ( Oct. 29th ) FOMC statement, it should be an interesting intersection…..Will stocks break new highs? Will they fail at old highs and resume downtrend?

– See more at: http://experts.forexmagnates.com/the-fed-wins-again/#sthash.eiSrsGL9.dpuf

 

The FED wins again….

A few weeks ago I wrote a post called: ” Alibaba marks stock market highs?”

In that post I mentioned that statistically the odds are against that statement since then Alibaba (NYSE:BABA traded above the $100 mark recently….)…While we did not make new highs, we did bounce SHARPLY from lows made 2 weeks ago and as we head into tomorrow’s ( Oct. 29th ) FOMC statement, it should be an interesting intersection…..Will stocks break new highs? Will they fail at old highs and resume downtrend?

 

 

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.

 

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Futures Trading Levels

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2008.42 4136.58 17174 1171.43 87.29
Resistance 2 1997.08 4116.42 17083 1162.57 86.71
Resistance 1 1984.67 4095.08 17002 1152.03 86.40
Pivot 1973.33 4074.92 16911 1143.17 85.82
Support 1 1960.92 4053.58 16830 1132.63 85.52
Support 2 1949.58 4033.42 16739 1123.77 84.94
Support 3 1937.17 4012.08 16658 1113.23 84.63
Contract December Gold Dec.Silver Dec. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1247.7 17.56 84.23 143 1.2870
Resistance 2 1239.1 17.44 83.55 142 10/32 1.2822
Resistance 1 1225.5 17.26 82.79 141 27/32 1.2731
Pivot 1216.9 17.14 82.11 141 5/32 1.2683
Support 1 1203.3 16.96 81.35 140 22/32 1.2592
Support 2 1194.7 16.84 80.67 140 1.2544
Support 3 1181.1 16.66 79.91 139 17/32 1.2453
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 390.2 542.2 1089.50 440.07 35.29
Resistance 2 383.1 541.1 1070.00 422.33 34.79
Resistance 1 379.2 539.7 1059.50 409.77 34.49
Pivot 372.1 538.6 1040.00 392.03 33.99
Support 1 368.2 537.2 1029.5 379.5 33.7
Support 2 361.1 536.1 1010.00 361.73 33.19
Support 3 357.2 534.7 999.50 349.17 32.89
Economic Reports

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

All times are Eastern time Zone (EST)

 

Date 4:15pm Currency Impact Detail Actual Forecast Previous Graph
ThuOct 30 All Day EUR German Prelim CPI m/m -0.1% 0.0%
 4:00am EUR Spanish Flash CPI y/y 0.0% -0.2%
EUR Spanish Flash GDP q/q 0.5% 0.6%
4:55am EUR German Unemployment Change 4K 12K
Tentative EUR Italian 10-y Bond Auction 2.45|1.3
8:30am USD Advance GDP q/q 3.1% 4.6%
USD Unemployment Claims 284K 283K
USD Advance GDP Price Index q/q 2.0% 2.1%
9:00am USD Fed Chair Yellen Speaks
10:30am USD Natural Gas Storage 83B 94B


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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