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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 Thursday May 29, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
US Bonds front month as of tomorrow is SEPTEMBER.
FRONT month for gold as of tonight is AUGUST.
Indices and currencies are still trading the June contract.
talking about gold, here is a quick piece I did for investing.com a few days ago:
http://www.investing.com/analysis/gold-futures-about-to-break-out,-but-in-which-way-214027
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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.
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| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1922.67 | 3748.75 | 16766 | 1158.40 | 80.94 |
| Resistance 2 | 1918.33 | 3739.50 | 16729 | 1151.80 | 80.79 |
| Resistance 1 | 1913.17 | 3726.00 | 16676 | 1143.40 | 80.69 |
| Pivot | 1908.83 | 3716.75 | 16639 | 1136.80 | 80.54 |
| Support 1 | 1903.67 | 3703.25 | 16586 | 1128.40 | 80.44 |
| Support 2 | 1899.33 | 3694.00 | 16549 | 1121.80 | 80.29 |
| Support 3 | 1894.17 | 3680.50 | 16496 | 1113.40 | 80.19 |
| Contract | August Gold | July Silver | July Crude Oil | September Bonds | June Euro |
| Resistance 3 | 1276.8 | 1931.2 | 105.75 | 140 2/32 | 1.3675 |
| Resistance 2 | 1272.0 | 1923.3 | 105.07 | 139 12/32 | 1.3657 |
| Resistance 1 | 1265.3 | 1912.7 | 104.00 | 139 | 1.3626 |
| Pivot | 1260.5 | 1904.8 | 103.32 | 138 10/32 | 1.3608 |
| Support 1 | 1253.8 | 1894.2 | 102.25 | 137 30/32 | 1.3577 |
| Support 2 | 1249.0 | 1886.3 | 101.57 | 137 8/32 | 1.3559 |
| Support 3 | 1242.3 | 1875.7 | 100.50 | 136 28/32 | 1.3528 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 480.7 | 640.3 | 1517.83 | 510.07 | 40.41 |
| Resistance 2 | 476.8 | 639.9 | 1508.92 | 505.43 | 40.22 |
| Resistance 1 | 474.7 | 639.3 | 1503.33 | 501.97 | 39.92 |
| Pivot | 470.8 | 638.9 | 1494.42 | 497.33 | 39.73 |
| Support 1 | 468.7 | 638.3 | 1488.8 | 493.9 | 39.4 |
| Support 2 | 464.8 | 637.9 | 1479.92 | 489.23 | 39.24 |
| Support 3 | 462.7 | 637.3 | 1474.33 | 485.77 | 38.94 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:09pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMay 29 | All Day | EUR | French Bank Holiday | ||||||
| All Day | EUR | German Bank Holiday | |||||||
| Tentative | EUR | Italian 10-y Bond Auction | 3.22|1.3 | ||||||
| 8:30am | USD | Prelim GDP q/q | -0.6% | 0.1% | |||||
| USD | Unemployment Claims | 321K | 326K | ||||||
| USD | Prelim GDP Price Index q/q | 1.3% | 1.3% | ||||||
| 10:00am | USD | Pending Home Sales m/m | 1.1% | 3.4% | |||||
| 10:30am | USD | Natural Gas Storage | 110B | 106B | |||||
| 11:00am | USD | Crude Oil Inventories | -0.1M | -7.2M |
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.