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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 January 16, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Swiss franc made a huge move today as Swiss officials decided to detach the Swiss rate from the Euro currency….This was probably the biggest one day move I have witnessed in any commodity/futures market percent wise in my 17 years as a broker ( at the high today it was up approx. 25%, closed up 17%!!!)…..
Monthly chart below for general knowledge below…
SF6 – Swiss Franc (Globex), Monthly Continuation
And repeating yesterday’s words below as today was even a crazier day than any so far…..
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.
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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 March 2015 |
SP500 |
Nasdaq100 |
Dow Jones |
Mini Russell |
Dollar Index |
| Resistance 3 |
2060.42 |
4276.17 |
17838 |
1214.40 |
95.24 |
| Resistance 2 |
2043.83 |
4233.08 |
17685 |
1200.50 |
94.27 |
| Resistance 1 |
2017.92 |
4163.92 |
17495 |
1177.00 |
93.44 |
| Pivot |
2001.33 |
4120.83 |
17342 |
1163.10 |
92.47 |
| Support 1 |
1975.42 |
4051.67 |
17152 |
1139.60 |
91.63 |
| Support 2 |
1958.83 |
4008.58 |
16999 |
1125.70 |
90.66 |
| Support 3 |
1932.92 |
3939.42 |
16809 |
1102.20 |
89.83 |
|
|
|
|
|
|
| Contract |
Feb. Gold |
Mar.Silver |
Feb. Crude Oil |
Mar. Bonds |
March Euro |
| Resistance 3 |
1316.1 |
17.70 |
54.86 |
153 2/32 |
1.1975 |
| Resistance 2 |
1291.7 |
17.47 |
53.06 |
151 30/32 |
1.1886 |
| Resistance 1 |
1275.0 |
17.17 |
49.66 |
151 9/32 |
1.1752 |
| Pivot |
1250.6 |
16.94 |
47.86 |
150 5/32 |
1.1663 |
| Support 1 |
1233.9 |
16.64 |
44.46 |
149 16/32 |
1.1529 |
| Support 2 |
1209.5 |
16.41 |
42.66 |
148 12/32 |
1.1440 |
| Support 3 |
1192.8 |
16.11 |
39.26 |
147 23/32 |
1.1306 |
|
|
|
|
|
|
| Contract |
March Corn |
March Wheat |
March Beans |
March SoyMeal |
March bean Oil |
| Resistance 3 |
394.4 |
535.7 |
1043.83 |
347.00 |
33.98 |
| Resistance 2 |
390.8 |
535.1 |
1031.67 |
342.50 |
33.66 |
| Resistance 1 |
385.4 |
533.9 |
1011.33 |
334.60 |
33.33 |
| Pivot |
381.8 |
533.3 |
999.17 |
330.10 |
33.01 |
| Support 1 |
376.4 |
532.2 |
978.8 |
322.2 |
32.7 |
| Support 2 |
372.8 |
531.6 |
966.67 |
317.70 |
32.36 |
| Support 3 |
367.4 |
530.4 |
946.33 |
309.80 |
32.03 |
5. Economic Reports
| Date |
4:06pm |
Currency |
Impact |
|
Detail |
Actual |
Forecast |
Previous |
Graph |
|
| FriJan 16 |
2:00am |
EUR |
|
German Final CPI m/m |
|
|
0.0% |
0.0% |
|
|
2:45am |
EUR |
|
French Gov Budget Balance |
|
|
|
-84.7B |
|
|
3:15am |
CHF |
|
Retail Sales y/y |
|
|
1.1% |
0.3% |
|
|
5:00am |
EUR |
|
Final CPI y/y |
|
|
-0.2% |
-0.2% |
|
|
|
EUR |
|
Final Core CPI y/y |
|
|
0.8% |
0.8% |
|
|
8:30am |
USD |
|
CPI m/m |
|
|
-0.3% |
-0.3% |
|
|
|
USD |
|
Core CPI m/m |
|
|
0.1% |
0.1% |
|
|
9:15am |
USD |
|
Capacity Utilization Rate |
|
|
80.2% |
80.1% |
|
|
|
USD |
|
Industrial Production m/m |
|
|
0.1% |
1.3% |
|
|
9:55am |
USD |
|
Prelim UoM Consumer Sentiment |
|
|
94.2 |
93.6 |
|
|
|
USD |
|
Prelim UoM Inflation Expectations |
|
|
|
2.8% |
|
|
11:00am |
USD |
|
FOMC Member Williams Speaks |
|
|
|
|
|
|
4:00pm |
USD |
|
TIC Long-Term Purchases |
|
|
27.3B |
-1.4B |
|
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.
