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 Wednesday July 8, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Benjamin Graham, “The investor’s chief problem – and even his worst enemy – is likely to be himself.”
Tom Basso, “Investment psychology [my italics] is by far the most important element [of trading], followed by risk control, with the least important consideration being the question of where to buy and sell.”
Read, then read again and one more time….think about your trading behavior….start spending more time on money management and trader management in order to succeed.
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 Sept. 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Aug. Gold||Sept. Silver||Aug. Crude Oil||Sept. Bonds||Sept. Euro|
|Resistance 3||1190.3||16.71||56.82||155 3/32||1.1227|
|Resistance 2||1180.1||16.21||55.13||154 24/32||1.1147|
|Resistance 1||1167.1||15.62||53.97||153 26/32||1.1086|
|Support 1||1143.9||14.53||51.12||152 17/32||1.0945|
|Support 2||1133.7||14.03||49.43||152 6/32||1.0865|
|Support 3||1120.7||13.44||48.27||151 8/32||1.0804|
|Contract||Dec. Corn||Sept. Wheat||Nov Beans||Dec. SoyMeal||Aug Nat Gas|
|WedJul 8||All Day||EUR||Eurogroup Meetings|
|10:30am||USD||Crude Oil Inventories||-0.5M||2.4M|
|1:01pm||USD||10-y Bond Auction||2.46|2.7|
|2:00pm||USD||FOMC Meeting Minutes|
|USD||FOMC Member Williams Speaks|
|3:00pm||USD||Consumer Credit m/m||18.5B||20.5B|
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.