Futures Levels & Economic Reports 10.30.2015

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.

Futures Levels & Economic Reports 10.30.2015

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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 Friday October 30, 2015

Hello Traders,

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

While this TradeTheNews.com update was emailed to me much earlier in the day ( you can sign up for free trial of LIVE updates through out the day), I wanted to share it with you as it brings some insight into FOMC we had and the one coming up in December and what currently affecting the markets.
US equities are giving up some of the gains seen in yesterday’s session, as the GDP data blunts the post-FOMC bounce higher. Note that the 10-year UST is selling off hand-in-hand with stocks, with the benchmark yield up five basis points to 2.151%.

Fed funds futures are now predicting a 50% chance of rate hikes at the December FOMC meeting, up sharply from below 40% yesterday. As of writing, the DJIA has given up 0.41%, the S&P500 is off 0.26% and the Nasdaq is down 0.37%.In its decision yesterday afternoon, the FOMC dropped a reference to global risks restraining growth and referred to its “next meeting” on Dec. 15-16 as “live” as it discussed the timing of rate liftoff. Fed’s Lacker dissented for a second time, remaining in favor of an immediate 0.25% rate increase. With job growth remaining pretty solid (the four-week MA in the continuing claims data out today sank to its lowest level since 1973), inflation continues to be the main source of uncertainty. Just this morning, the third quarter GDP price index and core PCE measures undershot expectations.The advance reading of annualized third quarter GDP slightly undershot expectations, and dramatically slowed from the second quarter rate, dropping to +1.5% from +3.9%. Analysts widely interpreted the slowdown as a direct result of businesses cutting back on restocking to work off an inventory glut. Businesses accumulated $56.8 billion worth of inventory in the third quarter, the smallest since the first quarter of 2014 and down sharply from $113.5 billion in the April-June period. Meanwhile, third quarter consumer spending expanded at a +3.2% annualized rate in the quarter after expanding at a +3.6% annualized rate in the second quarter, suggesting that the consumer sector remains quite healthy.

Shares of Allergan are up 8.6% this morning after disclosing it it had been approached and was in “preliminary friendly discussions” with Pfizer regarding a potential merger, but also warned no deal has been finalized. In a separate statement, Pfizer confirmed the talks, saying it would not speculate on terms of a potential agreement. Recall that in Spring of 2014, Pfizer tried and failed to acquire AstraZeneca. Reports out yesterday indicated that both companies were in discussions to create what would be the world’s largest healthcare company with a combined market cap of around $330 billion.


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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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Futures Trading Levels

Contract Dec. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2101.83 4702.08 17830 1187.57 98.15
Resistance 2 2094.17 4686.17 17769 1181.63 97.97
Resistance 1 2088.58 4674.58 17726 1171.57 97.67
Pivot 2080.92 4658.67 17665 1165.63 97.49
Support 1 2075.33 4647.08 17622 1155.57 97.19
Support 2 2067.67 4631.17 17561 1149.63 97.01
Support 3 2062.08 4619.58 17518 1139.57 96.71
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1175.4 16.35 48.28 160 4/32 1.1096
Resistance 2 1168.9 16.18 47.53 159 6/32 1.1044
Resistance 1 1157.1 15.88 46.65 157 17/32 1.1012
Pivot 1150.6 15.71 45.90 156 19/32 1.0960
Support 1 1138.8 15.40 45.02 154 30/32 1.0928
Support 2 1132.3 15.23 44.27 154 1.0876
Support 3 1120.5 14.93 43.39 152 11/32 1.0844
Contract Dec. Corn Dec. Wheat Jan Beans Dec. SoyMeal Dec. Nat Gas
Resistance 3 386.8 532.5 894.00 309.13 2.48
Resistance 2 383.7 525.0 888.75 306.27 2.43
Resistance 1 381.8 520.0 883.75 303.93 2.34
Pivot 378.7 512.5 878.50 301.07 2.29
Support 1 376.8 507.5 873.5 298.7 2.2
Support 2 373.7 500.0 868.25 295.87 2.15
Support 3 371.8 495.0 863.25 293.53 2.07
Economic Reports


All times are Eastern time Zone (EST)

Date 4:01pm Currency Impact Detail Actual Forecast Previous Graph
FriOct 30  3:00am EUR German Retail Sales m/m 0.4% -0.4%
3:45am EUR French Consumer Spending m/m 0.2% 0.0%
4:00am EUR Spanish Flash GDP q/q 0.9% 1.0%
5:00am EUR Italian Monthly Unemployment Rate 11.9% 11.9%
6:00am EUR CPI Flash Estimate y/y 0.0% -0.1%
EUR Core CPI Flash Estimate y/y 0.9% 0.9%
EUR Unemployment Rate 11.0% 11.0%
EUR Italian Prelim CPI m/m 0.1% -0.4%
8:30am USD Employment Cost Index q/q 0.6% 0.2%
USD Core PCE Price Index m/m 0.2% 0.1%
USD Personal Spending m/m 0.2% 0.4%
USD Personal Income m/m 0.2% 0.3%
9:45am USD Chicago PMI 49.5 48.7
10:00am USD FOMC Member Williams Speaks
USD Revised UoM Consumer Sentiment 92.6 92.1
USD Revised UoM Inflation Expectations 2.7%

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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