Futures Levels & Economic Reports 7.16.2014
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 Wednesday July 16, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Took a few days off from the markets and came back to see some zig zag action as Yellen was talking.
One must know what reports are coming out and also keep a journal so you have reference as far as different reports and how they affect the markets you are trading. In general I think a trading journal is a must for any serious trader, as we are are only humans and can only remember so much. Writing down different aspects of market behavior as well as your behavior can be valuable.
If you like the information we share? We would appreciate your positive reviews on our new yelp!!
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. Past performance is not indicative to future results.
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| Contract Sept. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 1994.08 | 3990.67 | 17159 | 1185.20 | 80.84 |
| Resistance 2 | 1985.17 | 3962.08 | 17102 | 1175.10 | 80.66 |
| Resistance 1 | 1976.58 | 3937.17 | 17046 | 1163.50 | 80.55 |
| Pivot | 1967.67 | 3908.58 | 16989 | 1153.40 | 80.36 |
| Support 1 | 1959.08 | 3883.67 | 16933 | 1141.80 | 80.25 |
| Support 2 | 1950.17 | 3855.08 | 16876 | 1131.70 | 80.07 |
| Support 3 | 1941.58 | 3830.17 | 16820 | 1120.10 | 79.96 |
| Contract | August Gold | Sept.Silver | August Crude Oil | September Bonds | Sept. Euro |
| Resistance 3 | 1330.6 | 2148.0 | 103.03 | 138 3/32 | 1.3680 |
| Resistance 2 | 1322.5 | 2130.5 | 102.05 | 137 23/32 | 1.3656 |
| Resistance 1 | 1308.8 | 2102.0 | 100.98 | 137 9/32 | 1.3613 |
| Pivot | 1300.7 | 2084.5 | 100.00 | 136 29/32 | 1.3589 |
| Support 1 | 1287.0 | 2056.0 | 98.93 | 136 15/32 | 1.3546 |
| Support 2 | 1278.9 | 2038.5 | 97.95 | 136 3/32 | 1.3522 |
| Support 3 | 1265.2 | 2010.0 | 96.88 | 135 21/32 | 1.3479 |
| Contract | Dec Corn | Sept. Wheat | Nov. Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 390.0 | 537.8 | 1107.00 | 357.07 | 37.86 |
| Resistance 2 | 387.3 | 537.8 | 1096.75 | 353.33 | 37.48 |
| Resistance 1 | 384.5 | 537.8 | 1091.50 | 350.27 | 37.30 |
| Pivot | 381.8 | 537.8 | 1081.25 | 346.53 | 36.92 |
| Support 1 | 379.0 | 537.8 | 1076.0 | 343.5 | 36.7 |
| Support 2 | 376.3 | 537.8 | 1065.75 | 339.73 | 36.36 |
| Support 3 | 373.5 | 537.8 | 1060.50 | 336.67 | 36.18 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:38pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedJul 16 | 4:00am | EUR | Italian Trade Balance | 3.23B | 3.51B | ||||
| 5:00am | EUR | Trade Balance | 16.3B | 15.8B | |||||
| Tentative | EUR | German 10-y Bond Auction | 1.39|1.2 | ||||||
| 8:30am | USD | PPI m/m | 0.2% | -0.2% | |||||
| USD | Core PPI m/m | 0.2% | -0.1% | ||||||
| 9:00am | USD | TIC Long-Term Purchases | 27.4B | -24.2B | |||||
| 9:15am | USD | Capacity Utilization Rate | 79.4% | 79.1% | |||||
| USD | Industrial Production m/m | 0.4% | 0.6% | ||||||
| 10:00am | USD | Fed Chair Yellen Testifies | |||||||
| USD | NAHB Housing Market Index | 51 | 49 | ||||||
| 10:30am | USD | Crude Oil Inventories | -2.1M | -2.4M | |||||
| 12:00pm | USD | FOMC Member Fisher Speaks | |||||||
| 2:00pm | USD | Beige Book |
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.
