Support and Resistance


FOMC Interest Rate Decision tomorrow & Economic Reports 6.18.2014

June 17th, 2014 Filed under Future Trading News | Comment (0)

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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 June 18, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

FRONT MONTH for stock index futures and currencies is now SEPTEMBER.

A quick analysis I did for investing.com about crude oil futures at:

http://www.investing.com/analysis/is-crude-oil-breaking-higher-216227

 

 

The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, June 18th ).

 

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

 

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

 

The following are suggestions on trading during FOMC days:

 

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1925.00 with a stop at 1919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1919.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined

 

If you like the information we share? We would appreciate your positive reviews on our new yelp!! Read the rest of this entry »


FOMC Interest Rate Decision & Futures Economic Levels 5.01.2014

April 30th, 2014 Filed under Future Trading News | Comment (0)

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 May 1, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 

 

The FOMC interest rate decision is behind us and so is April. This was one of the LESS volatile FOMC announcements. 

Hope everyone will enjoy a great trading month in May!

We still have monthly unemployment this Friday and just for visual, below is the weekly Dow Jones Cash chart, flirting with all time highs…….

 

 

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.

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Futures Trading Levels

Contract June 2014  SP500 (big & Mini) Nasdaq100 (big & Mini) Dow Jones (big & Mini) Mini Russell Dollar Index
Resistance 3 1896.50 3627.08 16642 1151.87 80.40
Resistance 2 1888.00 3602.42 16584 1138.13 80.21
Resistance 1 1883.25 3588.33 16549 1131.07 79.89
Pivot 1874.75 3563.67 16491 1117.33 79.70
Support 1 1870.00 3549.58 16456 1110.27 79.38
Support 2 1861.50 3524.92 16398 1096.53 79.19
Support 3 1856.75 3510.83 16363 1089.47 78.87
Contract June Gold July Silver June Crude Oil June Bonds  June Euro
Resistance 3 1310.9 1990.7 102.06 136  6/32 1.4019
Resistance 2 1304.6 1970.8 101.41 135 18/32 1.3948
Resistance 1 1297.4 1945.7 100.65 135  7/32 1.3910
Pivot 1291.1 1925.8 100.00 134 19/32 1.3839
Support 1 1283.9 1900.7 99.24 134  8/32 1.3801
Support 2 1277.6 1880.8 98.59 133 20/32 1.3730
Support 3 1270.4 1855.7 97.83 133  9/32 1.3692
Contract July Corn July Wheat July Beans July SoyMeal July bean Oil
Resistance 3 525.1 730.3 1528.17 500.70 42.87
Resistance 2 522.2 726.5 1520.58 497.50 42.62
Resistance 1 520.6 724.0 1516.67 495.60 42.36
Pivot 517.7 720.3 1509.08 492.40 42.11
Support 1 516.1 717.8 1505.2 490.5 41.9
Support 2 513.2 714.0 1497.58 487.30 41.60
Support 3 511.6 711.5 1493.67 485.40 41.34
5. Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:04pm Currency Impact Detail Actual Forecast Previous Graph
ThuMay 1 All Day EUR French Bank Holiday
All Day EUR German Bank Holiday
All Day EUR Italian Bank Holiday
 7:30am USD Challenger Job Cuts y/y -30.2%
8:30am USD Fed Chair Yellen Speaks
USD Unemployment Claims 317K 329K
USD Core PCE Price Index m/m 0.1% 0.1%
USD Personal Spending m/m 0.7% 0.3%
USD Personal Income m/m 0.4% 0.3%
9:00am USD Final Manufacturing PMI 55.8 55.4
10:00am USD ISM Manufacturing PMI 54.3 53.7
USD Construction Spending m/m 0.5% 0.1%
USD ISM Manufacturing Prices 59.4 59.0
10:30am USD Natural Gas Storage 75B 49B
All Day USD Total Vehicle Sales 16.2M 16.4M

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.


Futures Levels & Economic Reports 2.11.2014

February 10th, 2014 Filed under Commodity Trading, Future Trading News, Futures Trading | Comments Off on Futures Levels & Economic Reports 2.11.2014

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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 Tuesday February 11, 2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

RECAP OF LAST WEEK AND A PEAK AHEAD INTO THIS WEEKS TRADING BY TRADETHENEWS.COM

TradeTheNews.com Weekly Market Update: The Correction Corrects

Fri, 07 Feb 2014 16:09 PM EST- The week began with a massive sell-off, as the DJIA and S&P500 fell more than 2% a piece on Monday and closed at their lows, while the DJIA also fell below its 200-day moving average for the first time since October. The declines came after a bad slide on the prior Friday and were exacerbated by another discouraging Chinese PMI reading. On Tuesday, the Nikkei saw a 4% slump, but global markets bottomed out mid-week and then recouped all of their losses. In Europe, healthy-looking PMI data helped limit losses, while the mixed US jobs report did not damage the bounce-back on Friday. Emerging market currencies stabilized this week following the recent round of rate hikes. For the week, the DJIA rose 0.6%, the S&P500 gained 0.8% and the Nasdaq added 0.5%.- The January US non-farm payrolls figure widely missed expectations and the December figure was revised higher by a mere 1K, making for the weakest two-month period of job growth in three years. However, investors are looking past this to find some pretty good news in the numbers. The lack of upward revisions in December data was still blamed on harsh weather, and the November payroll gains were revised higher again to 274K from 241K. More significantly, unemployment rate fell again to 6.6% while the labor force participation rate edged up to 63%, and employment measured by the household survey increased by 616K, complemented by a huge decline in part-time employment.

– Janet Yellen was officially sworn in as the new Fed chairman this week. Nearly everyone expects a pretty smooth transition, with Yellen very unlikely to make any changes to the course charted by helicopter Ben. She will have to deal with policy contradictions now that unemployment is nearly at the Fed’s 6.5% threshold while job growth remains anemic. At the December meeting, the Fed extended its forward guidance by stressing that low rates will likely remain appropriate “well past” reaching the 6.5% threshold, however market rates are still creeping higher. Next week will see Yellen’s first big policy statement, during Congressional testimony on the economic outlook and monetary policy. Several Fed officials this week, both hawks and doves, affirmed that tapering was still on track and that it would take a significant change in the data to force them the reconsider it.

– Despite the week-long Lunar New Year holiday on the mainland, China released the official PMI figures for the month of January on Monday. Much like the disappointing HSBC final PMI readings, the government figures described more deterioration with manufacturing PMI falling to 50.5, a six-month low, and non-manufacturing falling to 53.4, a 23-month low. Perhaps most notable among components, the employment reading in the manufacturing sector fell to an 11-month low. Meanwhile, the China Commence Ministry reported 2014 Lunar New Year “golden week” retail sales that were up a mere +13.3% y/y, the slowest pace of growth on record for the key holiday retail period.

– Shares of Twitter were down as much as 24% on Wednesday after the firm released its first quarterly report as a publically traded company. Twitter’s headline EPS and revenue numbers were much better than expected, but traders and analysts insist that slowing user growth and weaker engagement trends seen in metrics bode ill for the firm. In addition, the first round of lock-up expirations arrives on February 15th, followed by another round on May 7th. Cult tech names Pandora and LinkedIn saw losses as well in the wake of problematic quarterly results. Both firms disclosed decent fourth-quarter results but offered guidance that widely missed consensus estimates.

– Time Warner reported strong fourth-quarter results. Analysts focused on the company’s decision to break out separate HBO revenue figures for the first time. HBO took in $1.26B compared to $1.19B y/y, citing the consolidation of Asia and certain European operations for the 4% gain. This compares to Netflix’s $1.18B in revenue in the quarter.

– On Thursday, Apple disclosed that it has repurchased $14B in common stock over the last two weeks, amounting to 3.1% of its market cap. Over the last 12 months, the company said it has bought back $40B in stock, an all-time record for Apple or any company. CEO Cook said that the company had been surprised by the 8% decline on Jan 28th that came after reporting quarterly results. He also pledged to return $100B to shareholders by the end of 2015.

Read the rest of this entry »


Futures Trading Levels and Economic Reports for September 18, 2013

September 17th, 2013 Filed under Future Trading News | Comments Off on Futures Trading Levels and Economic Reports for September 18, 2013

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 September 18, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, Sept. 18th).

 

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

 

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

 

The following are suggestions on trading during FOMC days:

 

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1525.00 with a stop at 1519.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1519.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined

 

 

You like the information we share? We would appreciate your positive reviews on Google+ , Facebook, Yelp etc…use the icons below to share, recommend, review us and more!

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp


Trading Levels and Economic Reports for May 3, 2013

May 2nd, 2013 Filed under Future Trading News | Comments Off on Trading Levels and Economic Reports for May 3, 2013

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 May 3, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Some big moves took place over the last few days with different reports here in the US as well as in Europe.

Tomorrow we have monthly non farm payroll, another market moving report, coming out early in the morning, an hour before the cash open.
Here is some info about this report:

Read the rest of this entry »

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