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 June 5, 2014
For 2014 I would like to wish all of you discipline and patience in your trading!
First few days of June saw light volume and narrow ranges on stock index futures as the markets made new all time highs.
I mentioned this before, over the years, volatility comes and goes in cycles so be aware of the type of market conditions you are currently trading and be ready to adjust when volatility picks up.
In between a reminder about our webinar tomorrow:
iSystems – Let the ALGOs do the heavy lifting
Join us for a Webinar on June 5th 3:15 Central time/ 1:15 Pacific time
Join us for an informative and entertaining 60 minute webinar on iSystems, a new Automated Trading Systems Platform. We’ll be joined by Walter Gallwas, President of iSystems.
Most traders have heard of ALGO trading, trading systems and some may be trading a system in order to take the emotions out of trading, and this educational webinar on this Thursday at 3:15 Central time will cover all of the benefits of trading systems and the iSystems platform, including:
* What are trading systems?
* What is iSystems?
* Finding the right trading system for you and helps keep you consistent in your trading.
* Ways to trade automated trading systems
Seats are limited, as attendees will also receive direct access to:
1. The 200+ professionally developed trading systems on the iSystems Platform
2. A plethora of educational and “how to” articles relating to trading systems from many angles.
Futures and forex trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.
|Title:||iSystems – Let the ALGOs do the heavy lifting|
|Date:||Thursday, June 5, 2014|
|Time:||1:15 PM – 2:15 PM PDT|
|After registering you will receive a confirmation email containing information about joining the Webinar.|
Required: Windows® 8, 7, Vista, XP or 2003 Server
Required: Mac OS® X 10.6 or newer
Required: iPhone®, iPad®, Android™ phone or Android tablet
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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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|Contract June 2014||SP500 (big & Mini)||Nasdaq100 (big & Mini)||Dow Jones (big & Mini)||Mini Russell||Dollar Index|
|Contract||August Gold||July Silver||July Crude Oil||September Bonds||June Euro|
|Resistance 3||1254.3||1902.3||104.54||136 11/32||1.3669|
|Resistance 2||1251.9||1895.2||104.12||136 1/32||1.3654|
|Resistance 1||1247.6||1886.3||103.27||135 19/32||1.3626|
|Support 1||1240.9||1870.3||102.00||134 27/32||1.3583|
|Support 2||1238.5||1863.2||101.58||134 17/32||1.3568|
|Support 3||1234.2||1854.3||100.73||134 3/32||1.3540|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||July bean Oil|
|ThuJun 5||2:00am||EUR||German Factory Orders m/m||1.3%||-2.8%|
|5:00am||EUR||Retail Sales m/m||0.1%||0.3%|
|Tentative||EUR||French 10-y Bond Auction||2.00|2.2|
|Day 2||ALL||G7 Meetings|
|7:30am||USD||Challenger Job Cuts y/y||5.7%|
|7:45am||EUR||Minimum Bid Rate||0.10%||0.25%|
|8:30am||EUR||ECB Press Conference|
|10:30am||USD||Natural Gas Storage||116B||114B|
|1:30pm||USD||FOMC Member Kocherlakota Speaks|
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.