FOMC - Today was a Market Mover 1.28.2016 - Future Trading News

Support & Resistance Levels

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FOMC – Today was a Market Mover 1.28.2016

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4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday January 28, 2016

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

 FOMC today was a market mover. Some analysis via ( source:

Global Gloom is Raising Eyebrows at the Federal Reserve.

 At the end of its two-day meeting Wednesday, the U.S. central bank acknowledged that the U.S. economy lost momentum at the end of 2015.

“Economic growth slowed late last year,” the Fed’s committee said in its statement, noting that the job market had improved.
U.S. stocks didn’t react well to the Fed’s statement. The Dow, which was up about 10 points before the release, dropped down 230 points points after the Fed’s announcement.
In a widely expected decision, the Fed’s committee also decided not to raise its key interest rate. Just a month ago, in December, the Fed raised rates for the first time in nearly a decade.
Despite its worries, the Fed stopped short of saying that the volatility in January will change its plans to raise rates at least four times for the rest of 2016. The committee noted that it’s “monitoring global economic and financial developments.”

It’s worth remembering that after stocks tanked in late August, the Fed didn’t raise rates in September. So far, the Fed hasn’t indicated it is is changing its mind.
The Fed’s acknowledgment that the economy slowed down is a subtle sign that the committee might lower its rate hike expectations too, said Jason Pride, Director of Investment Strategy at Glenmede, a wealth management firm.
“They’re publicly acknowledging that the growth rate is coming in slower than their expectations,” said Pride.



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Futures Trading Levels

Contract March 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 1946.83 4306.25 16435 1039.80 99.73
Resistance 2 1928.42 4262.50 16293 1029.70 99.48
Resistance 1 1901.33 4189.50 16073 1014.20 99.25
Pivot 1882.92 4145.75 15931 1004.10 99.00
Support 1 1855.83 4072.75 15711 988.60 98.76
Support 2 1837.42 4029.00 15569 978.50 98.51
Support 3 1810.33 3956.00 15349 963.00 98.28
Contract Feb. Gold March Silver Mar. Crude Oil Mar. Bonds March   Euro
Resistance 3 1144.3 14.83 35.85 162 1/32 1.1004
Resistance 2 1136.2 14.71 34.34 161 7/32 1.0967
Resistance 1 1131.2 14.61 33.15 160 18/32 1.0937
Pivot 1123.1 14.48 31.64 159 24/32 1.0900
Support 1 1118.1 14.38 30.45 159 3/32 1.0870
Support 2 1110.0 14.26 28.94 158 9/32 1.0833
Support 3 1105.0 14.16 27.75 157 20/32 1.0803
Contract Mar. Corn Mar. Wheat Mar Beans Mar. SoyMeal Feb. Nat Gas
Resistance 3 374.5 495.9 894.00 278.00 2.27
Resistance 2 372.8 490.8 889.50 275.70 2.24
Resistance 1 371.0 483.7 886.25 274.10 2.20
Pivot 369.3 478.6 881.75 271.80 2.16
Support 1 367.5 471.4 878.5 270.2 2.1
Support 2 365.8 466.3 874.00 267.90 2.08
Support 3 364.0 459.2 870.75 266.30 2.04
Economic Reports


All times are Eastern time Zone (EST)

Date 3:48pm Currency Impact Detail Actual Forecast Previous Graph
ThuJan 28  2:00am EUR German Import Prices m/m -1.0% -0.2%
All Day EUR German Prelim CPI m/m -0.8% -0.1%
3:00am EUR Spanish Unemployment Rate 21.1% 21.2%
Tentative EUR Italian 10-y Bond Auction 1.59|1.3
8:30am USD Core Durable Goods Orders m/m -0.1% 0.0%
USD Unemployment Claims 281K 293K
USD Durable Goods Orders m/m -0.6% 0.0%
10:00am USD Pending Home Sales m/m 1.0% -0.9%
10:30am USD Natural Gas Storage -215B -178B


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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