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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 January 22, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
ECB decision and verbiage in regards to Euro Zone QE will move the markets early tomorrow morning ( 7:30 AM central time). Be aware and be ready.
We got a sneak preview today when some reports came out in regards to this matter.
VOLATILITY is the keyword today and the last few weeks.
Personally I think this market has been harder to trade.
Do your homework. Review the charts over different time frames.
Do you need to adjust entry techniques? Do you need to use LESS leverage? Perhaps your stops needs to be adjusted based on volatility?
i am just throwing some ideas out there to help you think, research and hopefully implement and adapt to what I consider a different market for day trading than we have seen for most of 2014.
In between I am sharing with you my Crude Oil 18 tick range bar chart from today with some good and some not so good signals for your review:
Would you like to have access to the DIAMOND and TOPAZ and 5T ALGOs as shown above
and be able to apply for any market and any time frame on your own PC ? You can now have a three weeks free trial where the ALGO is enabled along with few studies for your own sierra/ ATcharts. The trial comes with a 23 page PDF booklet which explains the concepts, risks and methodology in more details.
To start your free 3 weeks trial, visit: http://levex.net/trading-algo/
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
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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 March 2015 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2065.42 | 4282.42 | 17786 | 1187.80 | 94.48 |
| Resistance 2 | 2049.08 | 4243.83 | 17661 | 1180.60 | 93.90 |
| Resistance 1 | 2037.92 | 4214.17 | 17576 | 1172.10 | 93.51 |
| Pivot | 2021.58 | 4175.58 | 17451 | 1164.90 | 92.94 |
| Support 1 | 2010.42 | 4145.92 | 17366 | 1156.40 | 92.55 |
| Support 2 | 1994.08 | 4107.33 | 17241 | 1149.20 | 91.97 |
| Support 3 | 1982.92 | 4077.67 | 17156 | 1140.70 | 91.58 |
| Contract | Feb. Gold | Mar.Silver | March Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1328.1 | 19.07 | 49.95 | 151 30/32 | 1.1812 |
| Resistance 2 | 1317.5 | 18.79 | 49.08 | 151 9/32 | 1.1750 |
| Resistance 1 | 1305.7 | 18.48 | 48.30 | 150 5/32 | 1.1672 |
| Pivot | 1295.1 | 18.20 | 47.43 | 149 16/32 | 1.1610 |
| Support 1 | 1283.3 | 17.89 | 46.65 | 148 12/32 | 1.1532 |
| Support 2 | 1272.7 | 17.61 | 45.78 | 147 23/32 | 1.1470 |
| Support 3 | 1260.9 | 17.30 | 45.00 | 146 19/32 | 1.1392 |
| Contract | March Corn | March Wheat | March Beans | March SoyMeal | March bean Oil |
| Resistance 3 | 393.7 | 547.3 | 996.42 | 338.23 | 32.97 |
| Resistance 2 | 391.8 | 544.9 | 991.83 | 334.97 | 32.83 |
| Resistance 1 | 389.9 | 540.8 | 987.67 | 332.73 | 32.62 |
| Pivot | 388.1 | 538.4 | 983.08 | 329.47 | 32.48 |
| Support 1 | 386.2 | 534.3 | 978.9 | 327.2 | 32.3 |
| Support 2 | 384.3 | 531.9 | 974.33 | 323.97 | 32.13 |
| Support 3 | 382.4 | 527.8 | 970.17 | 321.73 | 31.92 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
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.