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Futures Levels & Economic Reports 7.16.2015

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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 Thursday July 16, 2015

Hello Traders,

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

Hello Traders,

Why Didn’t I Get Filled?

“A treatise to Demo Traders”, on behalf of Commodities brokers everywhere.

By Cannon Trading Commodities Broker

Demo Trading. Also known as simulated trading, paper trading, playing with Monopoly money; whatever you’d like to call it, a demo can be your best friend or your worst enemy. Every Futures broker dreads having this conversation with their clients, as it is necessary with every new trader; however, much to a broker’s chagrin, every new trader will say that they already understand when in fact they rarely do. Let me assure you, if you’re a new or even intermediate trader, you probably don’t. You may understand one popular issue of the conversation but odds are if you have been paper trading for five years waiting to be “successful” or to “understand the futures markets” in the simulated world before moving on, you have less of a chance of being successful in the live futures markets because you’re setting yourself up for failure (if you ever do, in fact, trade in the live markets). You should seriously consider speaking with a licensed commodities and futures broker before diving in.

For the uninitiated, demo trading is the practice of trying out an online trading platform on a simulated basis-in a free demo trading account, you’re granted simulated funds, you’re placing simulated orders in the markets and you’re shown simulated profits and losses on what your trades might have done for you if you were futures trading on a live platform with live funds. First and foremost, it’s a wonderful technological tool for testing out a platform to see if it will suit your trading methodology. It can also be used to try different trading strategies, but problems arise when one equates simulated trading too much with live futures trading.

Read the Rest


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 Sept. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2120.08 4568.33 18094 1282.90 98.33
Resistance 2 2113.92 4553.92 18050 1277.50 97.89
Resistance 1 2107.33 4538.08 18010 1269.90 97.57
Pivot 2101.17 4523.67 17966 1264.50 97.12
Support 1 2094.58 4507.83 17926 1256.90 96.80
Support 2 2088.42 4493.42 17882 1251.50 96.36
Support 3 2081.83 4477.58 17842 1243.90 96.04
Contract Aug. Gold Sept. Silver Aug. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1169.1 15.69 55.19 153 18/32 1.1131
Resistance 2 1162.5 15.53 54.34 152 9/32 1.1087
Resistance 1 1155.2 15.29 52.90 151 15/32 1.1025
Pivot 1148.6 15.13 52.05 150 6/32 1.0981
Support 1 1141.3 14.89 50.61 149 12/32 1.0919
Support 2 1134.7 14.73 49.76 148 3/32 1.0875
Support 3 1127.4 14.49 48.32 147 9/32 1.0813
Contract Dec. Corn Sept. Wheat Nov Beans Dec. SoyMeal Aug Nat Gas
Resistance 3 455.4 582.8 1041.25 362.43 3.05
Resistance 2 449.1 576.3 1032.00 357.37 2.99
Resistance 1 444.7 571.5 1024.00 353.83 2.95
Pivot 438.3 565.0 1014.75 348.77 2.89
Support 1 433.9 560.3 1006.8 345.2 2.9
Support 2 427.6 553.8 997.50 340.17 2.79
Support 3 423.2 549.0 989.50 336.63 2.76
Economic Reports


All times are Eastern time Zone (EST)

Date 4:12pm Currency Impact Detail Actual Forecast Previous Graph
ThuJul 16  4:00am EUR Italian Trade Balance 2.83B 3.74B
5:00am EUR Final CPI y/y 0.2% 0.2%
EUR Final Core CPI y/y 0.8% 0.8%
EUR Trade Balance 22.3B 24.3B
Tentative EUR Spanish 10-y Bond Auction 2.26|1.8
All Day EUR Eurogroup Meetings
7:45am EUR Minimum Bid Rate 0.05% 0.05%
8:30am EUR ECB Press Conference
USD Unemployment Claims 284K 297K
10:00am USD Fed Chair Yellen Testifies
USD Philly Fed Manufacturing Index 11.9 15.2
USD NAHB Housing Market Index 59 59
10:30am USD Natural Gas Storage 89B 91B
4:00pm USD TIC Long-Term Purchases 53.9B

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.


Tags: > > > > > Posted in: Commodity Trading   | Day Trading   | Future Trading News   | Futures Trading  

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